http://www.nypost.com/business/48117.htm I for one don't see what all the fuss is about. I can understand applying insider trading rules to executives of a company, to prevent them from perpetrating serious dishonesty on the shareholders. But journalists? Please. I think anyone who buys or sells based on the popular press should be told caveat emptor and that's about it. If a hedgie has news and makes a move before passing it on to CNBC, I don't see why they should catch hell for it if they are not affiliated with the company. Other opinions? p.s. is Bartiromo muy caliente in that photo or what?
I think Cramer and a bunch of other guys probably used to frontrun CNBC all day long. Who could blame them? They would have been fools not to. If someone is stupid enough to be last in the door every time, I wouldn't hesitate to take their money either. I think it's time the government dropped the facade of trying to protect the small investor. You can't protect idiots from themselves, you can only muck things up with useless rules that hamper those who know what they are doing.
Flamboyant ex-hedge fund manger Jim Cramer admitted in an interview with The New York Times on Monday that he often talked to Bartiromo and sometimes was able glean information from her to trade on. Cramer later vehemently denied he made those remarks. What a sh#t for brains egocentric.
if they're going to bust 16-yr old kids for hyping on ragingbull, then they damn well better bust cramer for doing the same thing on cable tv...
Yeah, I agree. I often times wish the government would just get lost and stop making it harder for those who know what they're doing to profit from those who don't - but I fear wishful thinking is all it is. For all the talk of "wounded investors" there is still a huge interest in equities from the moms and dads across America. Given the sheer numbers involved, I think the government will do whatever it has to to look good for election time. Daniel
this illustrates my point perfectly: should we feel sorry for anyone gullible enough (or blindly greedy enough) to be swindled by a sixteen year old?
The biggest running joke. In fact, I have MTV2 on the Screen when i trade now, CNBC is the worst. Maria is an idiot as well as BOB, "how about the volume" and the rest of the talking heads. Now Faber is ok, but come on just like CNN is the Network of the "Poor Arabs". CNBC is the network for "Its still a bull people, buy buy and buy more" Two news sources, Bloomberg, The paid terminal and Reuters...thats it. Oh yea, and the WallStreet Urnal is just as bad, Financial Times is far better.
I agree, I don't have much hope either. Mostly ranting/daydreaming. Maybe when we get a libertarian elected present. Some day.... In futures, the pit locals have a license to rob you blind. In stocks, the SEC is more protective than a preschool mommy. There has to be a balance somewhere...