looks like the boys from assent are going to jail soon. samuel childs former nyc regional compliance officer for assent llc (formerly andover trading), affiliated with jasper capital(sub llc) plead "100%" guilty today. jail this year. http://st0ckman.blogspot.com/2008/04/samuel-w-childs-ex-assent-llc-employee.html
The lazy way out - insider trading. The sad thing is, this guy did not even need insider trading if he would have just focused his efforts on trading this excellent volatilty (and all lost for a scrub $30K - what a F'ing joke!). :eek:
Silly question, but how is what these traders doing any different then getting the UBS up grades and downgrades from briefing.com? Are they just too quick? Sam Childs aside since be basically committed blackmail.
Once it's on briefing.com, it's public information. This says they were getting it before it was public info.
But if briefing is not getting it directly from UBS why is it public? And is the person who gave it to them guilty of inside info? IF the info comes accross the UBS box directly to the brokers, who share it with there clients...im just confused at what point the info becomes public. For example, IF yesterday hypothetically i get a call on IM from someone a stock is upgraded at UBS. and about 1 minute later it hits briefing.com, if i traded it before it hit briefing, is that inside information?
I guess no different then David Faber breaking a news story on CNBC. As long as he does not trade it before he breaks the news
yeah its just not worth it. either u do it on a small scale and make 30k which is SO not worth it. Or you buy way out of the money calls, and its so suspect your just asking to be caught. The only people who can get away with it for size are the people who can just buy a few hundred thousand shares of a stock and hold it.
i just left assent because of similar problems, and i'm looking for a new home, no games, no subaccounts, no sec registration disclosure games on my applications, no more calling out bad trades for clueless college kids to churn commissions. i've got a short list where i want to go, if anyone wants my numbers, email me here. i'm on a seven figure pace this yeartodate and in 2009 i want to form my own group if i can find traders with the right mindset and skills. cheers. rb. rb@tryk.biz