Patrick Byrne Knows About Your Fax Machine

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…

Create a social media strategy, launch your campaign, and track the results in our Social Media Marketing Boot Camp starting February 16. The online event and workshop will feature speakers including The Onion‘s Baratunde Thurston (left), Facebook’s Morin Oluwole, and bitly’s Tim Devane. Register now.