When I made that "we are all just one degree of seperation" comment I was referring to the successful traders on the site. Success leads to a desire for more success, and the trader begins to care less-and-less about how those ends are achieved, simply that the goal is met. And there is always temptation from business associates/contacts in the industry, who either are willing to talk about stock/bond deals that they really shouldn't be discussing or are looking for a handout. No worries there TZ, I definitely was not talking about you.
Thanks for the correction. I run in the other direction as quickly as possible whenever anyone starts talking to me about stock tips (either seeking advice/recommendations, or giving them) so I really wouldn't know, and definitely never want to find out.
Grow up? You have great respect for people who cheat and don't get caught? You must be a Paki too; broken english, cheater . . . This is the thought process in third world countries that leads to this kind of thinking: It's only wrong if I get caught. This often leads to a Catch22 thought process by coincidence Number22. Circular logic - if I don't cheat I won't make money, if I cheat it's only wrong if I get caught, so therefore I must cheat. Kind of like an Indian woman that is not a virgin and can find no suitors, although most Indian men frequent prostitutes, and if she does find one who will marry her - she thinks he must be crazy and not have good values, because he is willing to marry a non-virgin, so she doesn't marry him.
dude what a horrible analogy. obviously this 'fat' kid you mentioned would never be in the same sh*t Rajaratnam is in. besides stop sweating for this crook. live on dude
this is the equivalent of prosecuting martha stewart during the enron blowup, someone got on the P R campaign guys for the SEC and said we need a few convictions to bolster our legitimacy, meanwhile goldman and jp got rid of bear and lehman, gobbled up merrill, got trillions from the fed res and treasury, cleaned up in the credit default swaps, blamed it on the sub prime borrowers and their $89000 homes and have timmy geitner in their pocket and are raking in billions in this manufactured tarp rally. There is no way they could be acting on insider info
RAJ is not a trader, he is an analyst/PM, unfortunately he did get caught with his hand in the cookie jar by the SEC! Is it fair to retail investors or other Hedge funds that this particular "Fund" has privileged access to information before the general public, I don't give a shit how good of a PM/trader/analyst he is, he cheated at the game and got caught. Who cares if he is a "better trader" than most on ET, he broke the rules, got caught, now he has to pay.
Back in 05 one of their traders made the "thirty under 30" list and it was discussed here on ET. http://www.elitetrader.com/vb/showthread.php?s=&threadid=53553&highlight=galleon