With all the bias from the intellectual community against trading profitably being doable I wonder just what would it take to clear oneself of SEC scrutiny? Revealing all your intellectual property maybe? Handing over one's trading scripts so they could "scrutinize" [steal] them? One of the funnier threads on ET was started by some guys claiming to be, and seemingly they were, from Harvard or some school like that. They had all sorts of proof that trading successfully is impossible, were quoting Nobel Prize winners and all that good s%^t... finally somebody pointed out to them that they were on a site that was owned by a couple of guys that made $100 Million in their own lifetimes by trading!! Later...
What about Paulson? Soros? Paul Tudor Jones? What´s the SEC´s definition of these "hedge fund managers"?
All the same. No such thing as an honest trade for these guys. Thing about it. A mortgage loan office told me she went to her supervisor during the boom and said, "What the hell are we doing? We used to have standards. We don't have standards." The response was, nobody else has standards, and we have to compete. Same here. With 20 and 2, or 40 and 2, that money is going to find a home. So, if SAC is doing something without penalty, Samberg had to do it. And as a matter of fact, in Aguirre's case against Samberg, Samberg's partner left him, and Samberg was ill. To get back in the game, he played dirty. Imagine liquidating Pequot what they are finding. It 's a big dirty inside game that's going public soon. The stuff they do is just unbelievable. It's all about the time angle. Make that stock collapse today. Run that position now. And to do it, you do bad stuff. Simple.
What a load of turkey turds. Lots of people had informed the SEC that Madoff's outfit was dodgy, and the SEC ignored them. So now it's just going to make suspects of any hedge fund that actually earns its 2 and 20.
the above is worth a thread in itself especially the part beyond repair. i would not use joke in the title of thread if you want people to take you seriously and if you don't want some sensitive moderator to delete it or bounce it to chit chat.
Does this also count for trading desks at goldman and JPM that are positive over 100mm each day...every single day of the quarter? The next thing you know... they'll go after baseball players that hit 70 HR's per year and claim that they are cheating the game! ohhh right.. hey barry.
as an investor/trader/ the SEC is 'useless' to me. i mean the market participants pay $500 million dollars/year to keep the SEC employees employed. average salary of SEC employee cost what $100,000/year? what does the SEC produce? SEC creating jobs? wtf is this.. is making money illegal now? in wall street if you can't beat the market you won't get 20% bonus and the hedge fund manager gets fired if they don't beat the market. only way is alpha..beta is the market...alpha is the only way to beat the market. investors of these hedge funds don't pay 20% bonus to have same performance as the index fund
================= Neen; SEC may or may not have given ''C'' preferred treatment in fining them; but the private sector market [sellers/downtrenders in this case ] , in 1987 & 2007............................................ seemed to have a nice balance with both justice & mercy