hotrodharley
Well-Known Member
Supporting changing laws by breaking them? So you would inform on everyone.
Trump cfo weisselberg granted immunity
- Thread starter UncleBuck
- Start date
BarryBwana
Well-Known Member
Why do you assume she wants to reform?
Only thing she regrets is getting caught. I would put money on that.
I would also debate that insider trading inherently hurts others. It can for sure, but it can also just be a few people unjustly enriching themselves at no one else's expense if it's just a tip off about some good news that legitimately raises value on its own (or vice versa if shorting). Investing isn't always a zero sum game. You can break the rules to enrich yourself without taking away from grannies pension fund. I can't speak to Stewart's situation specifically as I'm not very familiar with it but she may have enjoyed some illegal gains without ripping off innocent investors. If that was the case then I would begrudgingly (feel I have to add this for liability reasons) respect her also for taking her punishment without rolling over to save her own skin.
Not advocating to do this but it's probably one of the least harmful illegal financial schemes one can perpeturate. A Ponzi scheme on the other hand....
UncleBuck
Well-Known Member
Insider trading is illegal because it harms people who follow the law
BarryBwana
Well-Known Member
I think you'll find its actually more due to providing the perception of a safe and stable investing environment rather than because it was harming individuals.
UncleBuck
Well-Known Member
no, insider trading harms people who play by the rules. hence why it's illegal.
gjs4786
Well-Known Member
I agree with you completely on this, but I just want to point out that that's exactly what they said about marijuana.
UncleBuck
Well-Known Member
cannabis is harmful. less harmful than cigarettes but i'm not hurting anyone else by smoking it.
if i get an insider tip that some stock is gonna crash and sell it to you knowing this and you lose money, you have been harmed by me when you were just playing by the rules and i wasn't
insider trading is illegal because it harms other people. it is not a victimless crime
BarryBwana
Well-Known Member
Are you really sure of this? I mean as in so sure that when I prove you wrong on this thing you're wrong about you'll be willing to reconsider other strongly held beliefs of yours that are also wrong?
UncleBuck
Well-Known Member
wanna buy some stocks?
BarryBwana
Well-Known Member
You know you need a license to sell securities, right?
https://www.investor.gov/additional-resources/general-resources/glossary/insider-trading
"Because insider trading undermines investor confidence in the fairness and integrity of the securities markets, the SEC has treated the detection and prosecution of insider trading violations as one of its enforcement priorities"
You've made it clear you'll spout off about things you don't actually know much about,. Will you now show that you can't even recogmize when you've been proven to be clearly wrong?
UncleBuck
Well-Known Member
i was out playing golf with my wealthy in-laws and their well-connected business partner. we got a little hint (wink wink) about some disastrous news about a publicly traded company in which i own stock.
you never got that news in advance like me.
wanna spend your hard-earned money on some stock?
I won't take sides here. But i have to disagree with you.
What if yourself and i had prior insider knowledge that some stocks were about to fall, or rise. Taking the guessing out of the equation.
We could either place put options, or buy up as much stock as we could. Or sell all our shares, and get the hell out of there, before disaster happens.
What about the people who didn't have insider knowledge? Do you think this is fair?
What if we were each CEO's of a company, and worked together to target someone else?
Besides being corrupt to the core, it's cheating.
It's like knowing all the numbers prior to a game of roulette at the casino. It's cheating. There is always a victim.
Fogdog
Well-Known Member
Proof not shown.
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hotrodharley
Well-Known Member
Insider trading is only illegal because it gives somebody a "one up" and the wealthy hate being screwed out of a single penny. Fuck insider trading. Fuck the whole scam.
hotrodharley
Well-Known Member
Capitalism is the biggest pyramid scheme ever devised and the stock market is the perfect example.
BarryBwana
Well-Known Member
My assertions aren't proof I agree.
However I did cite the SEC and provided a link to where they explicitly state why they prosecute insider training and it states almost exactly what I said. Are you going to dispute the validity of that proof?
Other than demonstrating that you clearly don't even have a basic grasp of how the stock market works, did you have a point? The people purchasing the stocks you're dumping will never see or talk to you or your wealthy in-laws or their well connected business partner. They will acquire the stock regardless if you dump yours or not. Their decision is not dependent upon your insider trading and in no way related to it. They are completely separate events.
It can get a lot more complex but I'm not going to get into nuance when basics are a struggle.
I've shown you the SEC's own words on why they, the SEC, prosecute insider trading and you still argue why they do it? Seriously? If this is how you operate then I think I'm done.
florida is legal now. a lot of states are except for the bible belt.
+rep
i told them about the guy i caught smuggling long guns by trying to hide them in body of car through the trunk..they called me gladys kravitz when i asked what i should do.
loyalty here at RIU is similar to trump..one way only.
figured i'd let you know about our little group of hypocrisy.
hotrodharley
Well-Known Member
It wasn't legal and few are that new to growing. Just saying what's true.
hotrodharley
Well-Known Member
I'm old. The whole world is this way.+rep
i told them about the guy i caught smuggling long guns by trying to hide them in body of car through the trunk..they called me gladys kravitz when i asked what i should do.
loyalty here at RIU is similar to trump..one way only.
figured i'd let you know about our little group of hypocrisy.