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Grand Theft Oil Futures: Insider traders keep making a killing at our expense

paulkrugman.substack.com

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Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#31

Post by not_the_fda »

gruez wrote: post #9
rocqua wrote: post #6

Earlier quoted context omitted.

This insider trading isn't hedge-funds working hard to get an edge. It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. And by doing so in this manner, they are taking money away from the actual productive people trading in the futures market. Besides, as Matt Levine ofte…

>It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on. >The stench of corruption is overwhelming. Yet aside from the raw corruption, these incidents also raise a…

> The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on.

They are elected officials that are supposed to be working in our best interests, or at least the interest of their supporters.

Are they making decisions in our best interests or what makes their pocket book fatter? Poisons the whole system.

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#32

Post by mystraline »

gruez wrote: post #4

So if this sort of "insider trading" is bad, what does this mean for other sorts off strategies hedge funds do to get an edge, like flying helicopters to look at how full oil storage tanks are? Should that be banned too? The article basically argues that any sort of edge is bad because it disincentivizes others from participating. edit: see my subsequent comment. I'm not saying corruption is good. The whole point of…

Considering the very House, Senate, and connected buffoons with the presidency are all in on insider trading and corruption... Why shouldnt others?

Hell, being a congresscritter in charge of oversight of $industry allows you to cheat the public cause you know what's coming. How else do you see a senator making $174k/yr but net worth's of $100M? Its legal, only cause they carved their own exemptions and scam the public.

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#33

Post by MSFT_Edging »

skinfaxi wrote: post #25
59percentmore wrote: post #11

Earlier quoted context omitted.

I'm not sure what world we live in where being able to rent a helicopter implies hard work and not large amounts of preexisting wealth (generally taken by many to indicate at least some abuse of power, somewhere along the way).

Businesses require investment and a helicopter charter is probably less than a year of office space.

“The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread.”

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#35

Post by gruez »

not_the_fda wrote: post #31
gruez wrote: post #9

Earlier quoted context omitted.

>It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on. >The stench of corruption is overwhelming. Yet aside from the raw corruption, these incidents also raise a…

> The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on. They are elected officials that are supposed to be working in our best interests, or at least the interest of their supporters. Are they making decisions in our best interests or what makes their pocket book fatter? Poisons the whole system.

Again, that's bad, but still under "corruption", which is not what I, or the article is addressing.

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#36

Post by XorNot »

gruez wrote: post #9
rocqua wrote: post #6

Earlier quoted context omitted.

This insider trading isn't hedge-funds working hard to get an edge. It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. And by doing so in this manner, they are taking money away from the actual productive people trading in the futures market. Besides, as Matt Levine ofte…

>It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on. >The stench of corruption is overwhelming. Yet aside from the raw corruption, these incidents also raise a…

The pacing of strategic military decisions being modulated to allow leading the futures market would be the very definition of "blood money".

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#37

Post by vasco »

harvie wrote: post #18

Can you watch what happens on a market just before the press conference and do the same?

These were before news reports that came out with the scoop before any press conference. How would you know that some big news scoop is going to drop? You'd have to jump on every futures drop.

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#38

Post by 2ndorderthought »

gilrain wrote: post #34
harvie wrote: post #18

Can you watch what happens on a market just before the press conference and do the same?

Eager to make bank off the back of civilisation, too? My IT colleagues continue to impress!

Psychopaths and sociopaths come from all types of backgrounds. One things for sure, they all tend to gravitate towards power and exploitation of people without remorse. C suite and founders are far from immune from this...

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#39

Post by [deleted] »

gruez wrote: post #9
rocqua wrote: post #6

Earlier quoted context omitted.

This insider trading isn't hedge-funds working hard to get an edge. It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. And by doing so in this manner, they are taking money away from the actual productive people trading in the futures market. Besides, as Matt Levine ofte…

>It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on. >The stench of corruption is overwhelming. Yet aside from the raw corruption, these incidents also raise a…

[deleted]

Re: Grand Theft Oil Futures: Insider traders keep making a killing at our expense

#40

Post by amalcon »

Theodores wrote: post #8

[flagged]

Sending a letter containing public information to a place that hasn't heard yet is not insider trading, even if you own the post office. Algorithmic trading firms are doing the modern equivalent of this at all times to arbitrage the NYC/LON/HK exchanges.

The classic example is that sitting outside a factory and counting trucks does not result in insider information, but driving the trucks does. Even though it is the same information.

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