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Could an attorney chime on on this article? I'm hung over, and a bit fuzzy. Yea--Halloween! "It’s not that it will be impossible to bring insider-trading cas
by marincounty 11y ago
Could an attorney chime on on this article? I'm hung over, and a bit fuzzy. Yea--Halloween!
"It’s not that it will be impossible to bring insider-trading cases from now on; it’s that, at a hedge fund, all of the legal liability will now rest with the analysts and traders on the front lines of information gathering—with the initial knowing recipients of a tip. (Incidentally, if you’re a junior portfolio manager, this might be a good time to ask your boss for a raise?"
1. This means anyone, such as a home trader, hires a worker who receives insider financial tips from and passes that information on to me. I can then make the trade, and profit. I am legally protected, as long as the employee didn't tell me about the origins of the tip? The only person liable would be the employee?
"With billions of dollars to be made in betting on the market, whether or not you see cause for alarm in any of this will likely depend on just how scrupulous or unscrupulous you think the average investor is."
Of course the average investor is unscrupulous. For as long as I can remember, the successful investors used insider information to make money on investments. Growing up they openly exchanged tips at church functions. Hell, the only real money my father made in the market was off an insider tip. My father didn't even know it was inside information. He just trusted his new father in-law.
My point is ever successful trader, I tangentially knew, used insider information to make a profit.
My second question to the lawyer. The boys at Google/Bing can see every every IP. They can map every IP to an address, and most likely a name. They probally know exactly who's who in all financial institutions throughout the world.
Could Google/Bing hire an analyst to scrape the data/information are pass that information to a higher up. The "Higher ups" could then make stock trades on this in data. (yes--I know Google only scrapes information in emails for "advertising" data.) 2. Could, if a search engine was combining IP to a name, address, and maybe where an stock trader works. Could The search engine put all that info. together and use that information to buy stocks? They might even call it big data mining for financial gain?
Or, would this senerio be invasion of privacy, and wiretapping?
(I have two questions poorly laid out in this mess of a paragraph. Sorry. I will number the sentences with my final question, as 1, and 2.)