6 ms·

Literally just read here yesterday how the CEO dumped majority of his shares. So Shiesty. https://news.ycombinator.com/item?id=16055851 https://news.ycombinato

Literally just read here yesterday how the CEO dumped majority of his shares. So Shiesty. https://news.ycombinator.com/item?id=16055851 https://news.ycombinator.com/item?id=16055851

prewett 9y ago
Don't be so quick to blame. You might have read it yesterday, but he reported it on Nov 29, which means that the transaction happened either within two days prior or about a month, depending on if you believe the SEC's website or NASDAQ's website. But the question isn't when he sold his shares, the question is when did he put in the order to sell those shares. Those guys put their buy/sell orders in months in advance because of exactly this problem. Or maybe he had a limit order in--the beginning of November was a 2-year high, so you could easily imagine a limit order executing about then.
- joncrane 9y ago
  Evidence shows this bug was known in November. It only blew up this week.
  - jacksmith21006 9y ago
    Probably even earlier.
matt4077 9y ago
Don't spread conspiracy theories. It's absolutely impossible for the most visible executive of one of the largest firms to engage in insider trading in such an obvious fashion and get away with it. At this level, there is always a paper trail of who knew what when. There are internal and external audits if any suspicions arise. Plus there are sever penalties, both civil (in the employment contract) as well as criminal. Intel's CEO is without a doubt in the 9- or 10-digit range of personal wealth. Risking time in jail to avoid a 10% loss on his stock holdings would be a terrible decision even if they considered the chance of being caught was low.
- GVIrish 9y ago
  I think we're going to find in the coming years that there is a lot of white collar crime going on at any time. It seems like it would be foolhardy to attempt this stuff, but greed compels people to do stupid things all the time. Wealthy C-suite people are not totally immune to that.
  - shaki-dora 9y ago
    You'll be happy to know that: [in 2016] the FEC Charged 78 parties in cases involving trading on the basis of inside information. A number of these cases involved complex insider trading rings which were cracked by Enforcement’s innovative uses of data and analytics to spot suspicious trading. For example, brought insider trading cases against: - two hedge fund managers and their source, who was a former employee of the U.S. Food and Drug Administration - a former Goldman Sachs employee - a former senior employee at Puma Biotechnology Inc. https://www.sec.gov/news/pressrelease/2016-212.html https://www.sec.gov/news/pressrelease/2016-212.html

Literally just read here yesterday how the CEO dumped majority of his shares. So Shiesty. https://news.ycombinator.com/item?id=16055851 https://news.ycombinator.com/item?id=16055851

prewett 9y ago

Don't be so quick to blame. You might have read it yesterday, but he reported it on Nov 29, which means that the transaction happened either within two days prior or about a month, depending on if you believe the SEC's website or NASDAQ's website. But the question isn't when he sold his shares, the question is when did he put in the order to sell those shares. Those guys put their buy/sell orders in months in advance because of exactly this problem. Or maybe he had a limit order in--the beginning of November was a 2-year high, so you could easily imagine a limit order executing about then.

joncrane 9y ago
Evidence shows this bug was known in November. It only blew up this week.
- jacksmith21006 9y ago
  Probably even earlier.

matt4077 9y ago

Don't spread conspiracy theories. It's absolutely impossible for the most visible executive of one of the largest firms to engage in insider trading in such an obvious fashion and get away with it. At this level, there is always a paper trail of who knew what when. There are internal and external audits if any suspicions arise. Plus there are sever penalties, both civil (in the employment contract) as well as criminal. Intel's CEO is without a doubt in the 9- or 10-digit range of personal wealth. Risking time in jail to avoid a 10% loss on his stock holdings would be a terrible decision even if they considered the chance of being caught was low.

GVIrish 9y ago
I think we're going to find in the coming years that there is a lot of white collar crime going on at any time. It seems like it would be foolhardy to attempt this stuff, but greed compels people to do stupid things all the time. Wealthy C-suite people are not totally immune to that.
- shaki-dora 9y ago
  You'll be happy to know that: [in 2016] the FEC Charged 78 parties in cases involving trading on the basis of inside information. A number of these cases involved complex insider trading rings which were cracked by Enforcement’s innovative uses of data and analytics to spot suspicious trading. For example, brought insider trading cases against: - two hedge fund managers and their source, who was a former employee of the U.S. Food and Drug Administration - a former Goldman Sachs employee - a former senior employee at Puma Biotechnology Inc. https://www.sec.gov/news/pressrelease/2016-212.html https://www.sec.gov/news/pressrelease/2016-212.html