111–120 of 164 posts
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That's called "revenue policing" and the only people who like it are the people high status enough to not be subject to it.
> the only people who like it are the people high status enough to not be subject to it Everyone at the SEC is keenly aware that bagging a high-ranking financier is a ticket to higher office.
And not bagging is a ticket to a very nice corner office I guess :)
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Why don't we apply Darwinism to the financial world? The fittest survive. If you can make friends with people who have insider info, you should be rewarded with your networking prowess. It's quite an underrated skill. That's how startup investing works anyway. Separately, announce earnings with some injected noise. Keep announcing corrections in the following several days so that it eventually converges to the correc…
Quarterly earnings is pretty antiquated anyway. Perhaps public companies should just report continuous / daily earnings via automated accounting software. This should make it harder to hide accounting fraud and improve transparency and market fairness.
I care that companies get shit done. I want to see electric cars, cancer cures, solar power, and vaccines. I don't care that the markets are fair. If an unfair market means I get those things faster I'm all for it.
FWIW I get cheaper strawberries than most people because I'm good at bargaining. Markets aren't supposed to be fair, they're supposed to factor in these kind of soft skills.
> Nathaniel Brown, [..] repeatedly tipped Infinera’s unannounced quarterly earnings and financial performance to his best friend, Benjamin Wylam > Wylam, [..] and also tipped Naveen Sood > Sood allegedly traded on this information and tipped his three friends Marcus Bannon, Matthew Rauch, and Naresh Ramaiya It's less a ring and more a tree One of the issues with leaking the info - you have no control over what is don…
Why don't we apply Darwinism to the financial world? The fittest survive. If you can make friends with people who have insider info, you should be rewarded with your networking prowess. It's quite an underrated skill. That's how startup investing works anyway. Separately, announce earnings with some injected noise. Keep announcing corrections in the following several days so that it eventually converges to the correc…
Lying to the public and your investors as some kind of game to "stick it to the man" is not fun, it's obscene (and thankfully criminal). These "retail investors" you defend are morons and gamblers who are leading a flock of other morons into bankruptcy. You should be rooting for them to get screwed, not people who play by the rules.
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I was on a call last week about the SEC’s changing priorities under Chairperson Gensler and the consensus among all of the attorneys on the call was that they will be more data-driven and have already been using data analytics far more extensively than ever before. I suspect the case in the linked release came about from those efforts: > “Using sophisticated data analysis, the SEC was able to uncover this insider tra…
Is there somewhere that I could read more about the analytics used to catch insider trading?
Earlier quoted context omitted.
Why don't we apply Darwinism to the financial world? The fittest survive. If you can make friends with people who have insider info, you should be rewarded with your networking prowess. It's quite an underrated skill. That's how startup investing works anyway. Separately, announce earnings with some injected noise. Keep announcing corrections in the following several days so that it eventually converges to the correc…
Is that not what happened? These idiots sucked at insider trading and got caught. The more fit insider traders don't get caught. Lying to the public and your investors as some kind of game to "stick it to the man" is not fun, it's obscene (and thankfully criminal). These "retail investors" you defend are morons and gamblers who are leading a flock of other morons into bankruptcy. You should be rooting for them to get…
It's not like my brain can differentiate anyway. If I find security bugs in some company's git repo is that insider info? The code was public. I should be rewarded for my ability to read code. Those who can't read code are less fit to be investors.
If I overhear company X employees talking trash on a public hiking trail near their office is that insider info? I actually went hiking, I have a higher probability of overhearing insider conversations, I should be rewarded for putting myself out there, doing the legwork, and not sitting in an armchair at home expecting people to feed information to me.
> Brown ... repeatedly tipped ... to his best friend Wylam ... Wylam ... traded on this information and also tipped Sood .. Sood traded on this information and tipped his three friends also illegally traded on the information. (edited for brevity) So it sounds like Brown texted his bestie something he shouldn't have. Bestie then passed it on to people who made lot of money on it. The SEC, through some combination of…
> On August 5, 2016, Brown—whose tips enabled his friend, Wylam, to make nearly one million dollars—texted his then-girlfriend to inform her that he was going to Wylam’s house to, among other things, “talk to him about $.” One week later, on or around August 12, Brown took a photograph of numerous one hundred dollar bills spread across his bathroom sink.
> On or about October 10, 2016, Wylam took Brown to a San Francisco Giants playoff game. Wylam bought both tickets—for seats only a few feet from the field—and paid more than $2,500 for each ticket. Brown understood that Wylam bought the tickets, at least in part, to thank Brown for providing inside information about Infinera.
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Is that not what happened? These idiots sucked at insider trading and got caught. The more fit insider traders don't get caught. Lying to the public and your investors as some kind of game to "stick it to the man" is not fun, it's obscene (and thankfully criminal). These "retail investors" you defend are morons and gamblers who are leading a flock of other morons into bankruptcy. You should be rooting for them to get…
I don't condone lying, but if you have access to inside information why can't you use it? It's not like my brain can differentiate anyway. If I find security bugs in some company's git repo is that insider info? The code was public. I should be rewarded for my ability to read code. Those who can't read code are less fit to be investors. If I overhear company X employees talking trash on a public hiking trail near the…
Earlier quoted context omitted.
I don't condone lying, but if you have access to inside information why can't you use it? It's not like my brain can differentiate anyway. If I find security bugs in some company's git repo is that insider info? The code was public. I should be rewarded for my ability to read code. Those who can't read code are less fit to be investors. If I overhear company X employees talking trash on a public hiking trail near the…
Neither of those would be considered insider trading in the US.
A is super friendly. B is an asshole.
A and B both indepedently go solo hiking to the same park.
A ends up making some friends with some company X employees on the trail, hikes with them for part of the trail, and hears inside info, and then they depart ways.
B is an asshole and so those people don't want to talk to B. B makes no friends, hikes alone the whole time, and therefore gets no inside info.
A should be rewarded by the markets for their people skills, no?
Earlier quoted context omitted.
Is that not what happened? These idiots sucked at insider trading and got caught. The more fit insider traders don't get caught. Lying to the public and your investors as some kind of game to "stick it to the man" is not fun, it's obscene (and thankfully criminal). These "retail investors" you defend are morons and gamblers who are leading a flock of other morons into bankruptcy. You should be rooting for them to get…
I don't condone lying, but if you have access to inside information why can't you use it? It's not like my brain can differentiate anyway. If I find security bugs in some company's git repo is that insider info? The code was public. I should be rewarded for my ability to read code. Those who can't read code are less fit to be investors. If I overhear company X employees talking trash on a public hiking trail near the…
Insider information is "details about a company's plans or finances that are not yet available to the shareholders".
If you overhear employees talking and you have no relation to them except you're in proximity, that's typically not insider info.