81–90 of 243 posts
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There absolutely was nonpublic information. Probably not about individual companies but certainly about the degree of the looming impact to the global economy.
What nonpublic information do congresspeople have about how pandemics might impact the global economy?
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There absolutely was nonpublic information. Probably not about individual companies but certainly about the degree of the looming impact to the global economy.
What nonpublic information do congresspeople have about how pandemics might impact the global economy?
Earlier quoted context omitted.
I have no doubt the SEC has a bunch of rules they use to flag suspicious transactions. The data analysis spits out a few names and they follow up in person to see who lawyers up and who cracks under pressure. It's also why Matt Levine's "rules of insider trading" includes "Don’t do it by buying short-dated out-of-the-money call options on merger targets". Certain transactions are suspicious as hell, especially when t…
I don't understand why "wife" has any legal bearing on this. What if it was a girlfriend? What if it was a friend? What if it was some random dude on reddit?
But conveniently, there's a legal document that establishes a relationship with your spouse, so that's really easy to find.
And so it's kind of an extra level of stupid for getting caught...
Having worked at Amazon, I know the employees are fully aware of blackout periods. There is no way to claim plausible deniability there. It is easier for clueless household members to get a hold of the earnings statement or unknowingly trade AMZN during blackout periods, so in some cases I can see how an honest mistake could happen. However, this guy traded 1.5M 11 times during blackout periods ahead of earning state…
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There's nothing illegal about trading your employer's stock if you don't have access to insider information. Millions of investors do that with no problems.
Something being technically legal under some conditions doesn't automatically make it sound financial advice. There's a lot of companies out there. It's easy to pick one that definitely won't get you in to trouble instead of one that probably won't get you in to trouble.
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If you ignore all the ethical aspects of it and look at it as a purely economic transaction, whether it was a great trade or not depends on the odds of getting caught, not just the punishment if you get caught.
That's true. I wonder what the odds of getting caught are. I wonder how the odds would change if you had someone unconnected to you who placed the trades and shared the profits. As I write this I can imagine a cryptocurrency marketplace for insider information. The insider asserts some fact about a company and stakes an amount in crypto. Buyers see the potential - e.g. "Amazon insider staking 1 million for X% return"…
Would love to see the same penalties applied to members of congress who used info from private briefings at the start of the coronavirus pandemic to make stock trades. :|
This 100%. For example, Nancy Pelosi should be named the Wolf of Wall Street. Look at that amazing trade she made on cyber security companies right before the hacks on the government were announced. Source: https://housestockwatcher.com/summary_by_rep/Hon.%20Nancy%20...
it’s 100% legit to say that any Congressperson who trades stocks unethically should be criticized. but when I saw a deft change of target like this, I was not at all surprised to find you defending Trump in your post history.
I’m partisan too, but let’s keep it above board.
I love how no one on Wall Street was convicted of anything criminal even though they almost destroyed the entire global financial system. There was even text messages of fraud being committed and nothing happened. Not even clawbacks or fines or anything. The government just let them go. That was so disappointing, and one of the first signs of how Obama was going to betray the progressives and let Bush's status quo re…
Does anyone honestly care about a million dollar trade by some employee's husband? The bar for insider trading is hilariously low - this seems like a total waste of time and resources when you could be chasing whales like you should be.
I've personally never considered a million dollars a low-ball figure.