I wanted to ask, but then I thought, don't ask...., don't tell, his look says it all! but what does this have to do with the price of tea in China? or this thread?
Your presence on this site neither helps nor harms it. It is of no consequence. And by the way, your comment about Jews and Indians wasn't 'politically incorrect'. Try a Google search or Wikipedia next time.
i'm sure he's not the only scumbag who did inside trading. I'm sure there'll be more to come. It's been really tough for those who run hedge fund in the past year or so. when u get desperate, you cross the line. I hope this bastard spend the rest of his life behind bars.
Sorry, but give me a fucking break. If you were at an ET convention and there was a well-established trader/fund manager there and you got to talking to him and it turned out that both of you had a lifelong passion for Shelby Cobras, and as you talk he realizes that you know a whole shitload about them and the two of you hung out for the entire convention and he showed you his Cobra which he just happened to have at the show, and during the ride he takes you on, he tells you that you should load up on TIPME.OTC, you'd be all over it like a fat kid on a Smartie. So would 98% of the guys on here. Sorry, but that was just a little too sanctimonious to escape comment.
Uh, why would I assume his tip was based on insider information? On the other hand, when the head of Intel Capital's treasury department tells me about an investment venture that's about to close... when I pay an associate at Moody's for information about an unannounced acquisition... I would know pretty quick that it's insider information, and that I was on the wrong side of the law. I personally would seriously weigh the risks of going to prison against the potential profits involved in these trades, and would very likely pass.
Hey Tradernik, did you take a look at the pleading document which was attached to the NY Times article? I mean, holy shit! Those guys put together their own little Ocean's 11 group and demonstrated a comprehensive and consistent pattern of insider trading. :eek: That wasn't just a simple conversation about one (or even two) stocks which are ready to make big moves ... that was an insider trading cartel.
You might or might not. Point is that most people would act on an insider tip if they knew they weren't going to get caught. Most people would break many laws if they knew they weren't going to get caught. I just object to the sanctimonious crapola. Let's keep it real. You said it yourself Exactly. It's not the crime, it's if you get caught. In your scenario, acting on the information represents too much of a risk. In a different scenario where acting on insider information represented no risk, you would 'weigh the risks... against potential reward' and take the trade. If you can't do the time, don't do the crime. The guy I quoted said people who trade off inside information are 'scumbags'. That's a laughable joke. People who trade off of insider information are people who have insider information.