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on tilt
Joined: 07 Jul 2005
Posts: 5472
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| Posted: Mon Nov 17, 2008 12:34 pm Post subject: insider trading |
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http://sports.yahoo.com/top/news?slug=ap-markcuban-insidertrading&prov=ap&type=lgns
i've never completely understood this. i understand the need for it to a certain degree. but if i know something that would prevent me from losing $750k, why on earth wouldn't i do something about it. |
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BigKev
Joined: 25 May 2004
Posts: 9293
Location: Contrary to popular belief, I never wrote a poker book
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| Posted: Mon Nov 17, 2008 12:39 pm Post subject: |
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| yeah insider trading laws are weird like that... |
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Ray
Joined: 05 Aug 2004
Posts: 1228
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| Posted: Mon Nov 17, 2008 12:44 pm Post subject: |
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| Well, its to protect the shareholders. If a company insider (This only really includes BOD, executive management, maybe some large investor) has material information that is not public, they are not allowed to trade until knowledge is public. Its very hard to prosecute someone, although Martha Stewart got caught, because you have to prove that they had the insider information and acted upon it. |
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BigSlick
Joined: 26 May 2004
Posts: 4693
Location: With 10 other long-haired friends of Jesus in a chartreuse microbus
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| Posted: Mon Nov 17, 2008 1:10 pm Post subject: |
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Cuban responds: http://blogmaverick.com/2008/11/17/the-sec/
This should be interesting. |
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Zero
Joined: 15 May 2006
Posts: 4382
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| Posted: Mon Nov 17, 2008 1:36 pm Post subject: |
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I dunno about this particular case, but $750K to Cuban is like $100 to us. Seems fishy he would risk that little amount of money with some much more to lose.
Never the less, insider trading is just another way for rich people to get richer and stay rich. |
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Ray
Joined: 05 Aug 2004
Posts: 1228
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| Posted: Mon Nov 17, 2008 1:40 pm Post subject: |
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Martha Stewart got jail time for selling her Imclone stock which amounted to $40k. She was a billionaire....
Sometimes the SEC is out to make examples of people instead of really protecting the people.
How come they are unable to stop all the naked shorting that has taken down a few large companies? What about the loopholes that allow people to speculate on oil futures and drive the price higher without actually receiving the oil...and there are a lot more issues that the SEC cannot seem to affect. I'm not a big fan of the SEC... |
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MushMouthMike
Joined: 05 Apr 2006
Posts: 5222
Location: Jacking off in the bathroom
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| Posted: Mon Nov 17, 2008 1:40 pm Post subject: |
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Zero wrote: I dunno about this particular case, but $750K to Cuban is like $100 to us. Seems fishy he would risk that little amount of money with some much more to lose.
Never the less, insider trading is just another way for rich people to get richer and stay rich.
Didn't Martha Stewart do the same thing for a smaller amount? |
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Ray
Joined: 05 Aug 2004
Posts: 1228
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| Posted: Mon Nov 17, 2008 1:41 pm Post subject: |
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MushMouthMike wrote: Zero wrote: I dunno about this particular case, but $750K to Cuban is like $100 to us. Seems fishy he would risk that little amount of money with some much more to lose.
Never the less, insider trading is just another way for rich people to get richer and stay rich.
Didn't Martha Stewart do the same thing for a smaller amount?
Don't you read the thread first? |
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MushMouthMike
Joined: 05 Apr 2006
Posts: 5222
Location: Jacking off in the bathroom
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| Posted: Mon Nov 17, 2008 1:42 pm Post subject: |
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Ray wrote: MushMouthMike wrote: Zero wrote: I dunno about this particular case, but $750K to Cuban is like $100 to us. Seems fishy he would risk that little amount of money with some much more to lose.
Never the less, insider trading is just another way for rich people to get richer and stay rich.
Didn't Martha Stewart do the same thing for a smaller amount?
Don't you read the thread I like cock!?
I always thought that about you Ray |
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Ray
Joined: 05 Aug 2004
Posts: 1228
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| Posted: Mon Nov 17, 2008 1:43 pm Post subject: |
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MushMouthMike wrote: Ray wrote: MushMouthMike wrote: Zero wrote: I dunno about this particular case, but $750K to Cuban is like $100 to us. Seems fishy he would risk that little amount of money with some much more to lose.
Never the less, insider trading is just another way for rich people to get richer and stay rich.
Didn't Martha Stewart do the same thing for a smaller amount?
Don't you read the thread I like cock!?
I always thought that about you Ray
Its my secret weapon |
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Zero
Joined: 15 May 2006
Posts: 4382
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| Posted: Mon Nov 17, 2008 1:45 pm Post subject: |
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MushMouthMike wrote: Zero wrote: I dunno about this particular case, but $750K to Cuban is like $100 to us. Seems fishy he would risk that little amount of money with some much more to lose.
Never the less, insider trading is just another way for rich people to get richer and stay rich.
Didn't Martha Stewart do the same thing for a smaller amount?
Ya, as Ray mentioned above.
SEC is jokeworthy. |
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fencewire
Joined: 29 Jun 2006
Posts: 1447
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| Posted: Mon Nov 17, 2008 1:57 pm Post subject: |
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| I believe that Stewart lied to the governement about it, which is why she went to prison. |
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Zero
Joined: 15 May 2006
Posts: 4382
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| Posted: Mon Nov 17, 2008 2:02 pm Post subject: |
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fencewire wrote: I believe that Stewart lied to the governement about it, which is why she went to prison.
Good point. I remember that, she lied about it and that is why she ultimately went to jail. |
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boohdallas
Joined: 02 Sep 2006
Posts: 1286
Location: NE Dallas
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| Posted: Mon Nov 17, 2008 4:15 pm Post subject: |
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Ray wrote: Sometimes the SEC is out to make examples of people instead of really protecting the people.
Zero wrote: fencewire wrote: I believe that Stewart lied to the governement about it, which is why she went to prison.
Good point. I remember that, she lied about it and that is why she ultimately went to jail.
She went to jail because she refused to admit
to any wrong doing. She was offered an easy
out if she would admit to being a naughty girl
and that she had broken the rules.
She would not do so, as she did not believe she
had broken the law. THEN they put her away to
make an example of her.
I guess they showed her, huh?
-N |
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