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You're stealing value by profiting on information which you had some duty to protect. For example, a company executive who knows that one of the company's produ
by piker 7y ago
You're stealing value by profiting on information which you had some duty to protect. For example, a company executive who knows that one of the company's products is about to be recalled generally owes a duty of loyalty to the company not to profit off of that knowledge to the disadvantage of the company.
- mochomocha 7y agoFrom whom is it stealing value from? Random other potential investors on the stock market? Since the parent comment is specifically mentioning semantics, this is the distinction "theft" vs "fairness" that I don't really understand. From an outsider perspective like me (I don't own stocks except through my 401k), Wall Street seems like a game of information asymmetry anyway where the only winners have an information edge at some moment in time. Now the question is about how "fairly" was the information obtained which seems pretty blurry to define to me.
- squaresmile 7y agoFrom the shareholders (owners) whom they have duty to.