Silicon Alley Insider's Michael Learmonth writes about Overstock CEO Patrick Byrne's theory about a CNBC-hedge fund partnership. He brought up the network on FBN Tuesday afternoon.

"I happen to know for a fact that there is a fax machine in the CNBC offices where every morning hedge funds send in the instructions, the journalists sit around and take the instructions.." he said.

Co-anchor Liz Claman, a former CNBC employee, jumped to the network's defense. "Well I worked at CNBC and I never saw that fax machine," she said.

> Update: Marketwatch's Herb Greenberg broke the story on Tuesday.

It didn't end there. Click continued to see the exchange, including Byrne equating himself to a boxer...