91–100 of 243 posts
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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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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...
Nancy Pelosi’s story is her husband does the stock trading without her involvement (or even her knowledge prior to her regular reports to Congress about trading activity). If true (and assuming she’s not giving privileged info to her husband), that means no insider trading. Having said that, I really think Congresspeople should be prohibited from trading in individual stocks entirely, and restricted to just investing…
>he obtained from his wife, an Amazon finance employee, to place trades in Amazon stock–making a profit of $1,428,264 >Bohra engaged in illegal insider trading in advance of 11 straight earnings announcements.” >He and his family members have paid $2,652,899 in disgorgement, interest and penalties. And 26 months in prison! This is why if you're going to do any kind of trading yourself -- never touch the company you w…
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.
Earlier quoted context omitted.
Nancy Pelosi’s story is her husband does the stock trading without her involvement (or even her knowledge prior to her regular reports to Congress about trading activity). If true (and assuming she’s not giving privileged info to her husband), that means no insider trading. Having said that, I really think Congresspeople should be prohibited from trading in individual stocks entirely, and restricted to just investing…
Wish we could see something like that happen, but you are going to need some representatives to vote against their best interest. Kind of like why run off voting will never see the light of day.
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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.
If you work for a company that grants stock via shares or options, you're going to have to sell them at some point. At which point insider trading applies.
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...
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 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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Nancy Pelosi’s story is her husband does the stock trading without her involvement (or even her knowledge prior to her regular reports to Congress about trading activity). If true (and assuming she’s not giving privileged info to her husband), that means no insider trading. Having said that, I really think Congresspeople should be prohibited from trading in individual stocks entirely, and restricted to just investing…
I'd like to see them required to make their portfolios open to the public in real time. That way, the rest of us could invest in an index fund based on congressional investments, and share in their success.
Good luck.
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…