5 ms·

Also true for the Caltrain, coffee shops, and nicer restaurants between SF and SJ. And SFO, SJC, and SEA airports; I think I hear some salesman loudly talking a

Also true for the Caltrain, coffee shops, and nicer restaurants between SF and SJ. And SFO, SJC, and SEA airports; I think I hear some salesman loudly talking about a deal almost every time I fly out of those places on weekdays.

enraged_camel 7y ago
Yep. One of the first things I learned early in my careers is, when you're having lunch at a venue with your coworkers, if the subject turns to client work, do not ever mention the client's name out loud. You never know who might be sitting nearby.
- Scoundreller 7y ago
  So how about that fruit company’s new phone?
blantonl 7y ago
Yup, and I guarantee you foreign states send nosey-nellies to all these venues to do nothing but snoop on this stuff.
- dylan604 7y ago
  So, the guy at the end of the bar that everyone just passes off as the town drunk might actually just be a very cleverly disguised spy? I want that as my cover when I join a spy agency.
  - hirsin 7y ago
    Usually it means you can't actually drink that much, so, watch what you wish for.
User23 7y ago
Fun fact: Using knowledge gained in this way isn't insider trading[1]. Conceivably a person could even sell tips based on information heard in public places to traders. During the golden age of Wall Street, this was extremely common. Traders or their lackeys would visit businesses (or the bars near them) and pump employees for info. [1] Not a lawyer, not legal advice.
- currymj 7y ago
  generally speaking it seems like it is insider trading in Europe and is not in the US.
- gamblor956 7y ago
  It is insider trading if you get it by soliciting the information. It is not insider trading if you get it by simply overhearing a public conversation.
  - notacoward 7y ago
    It's insider trading if it's material and non-public. Solicitation has nothing to do with it.
- crummy 7y ago
  In France, at least some authorities think it is insider trading: https://www.bloomberg.com/opinion/articles/2019-03-29/deals-on-the-train-are-everyone-s-business https://www.bloomberg.com/opinion/articles/2019-03-29/deals-...
- formercoder 7y ago
  This is a pretty grey area. Would not recommend trading on the info.
  - jjeaff 7y ago
    How in the world would anyone prove that you traded on insider information that you overheard at a restaurant? Just keep it to yourself. You might be investigated, but not a chance they will find enough to even think about prosecution.
- joezydeco 7y ago
  What's even wackier is that in commodities trading, insider information was allowed. The loophole was a key plot point in the movie "Trading Places" and when the 2010 financial overhaul rules were passed, this section was nicknamed "The Eddie Murphy Rule". https://www.npr.org/sections/money/2013/07/09/200401407/episode-471-the-eddie-murphy-rule https://www.npr.org/sections/money/2013/07/09/200401407/epis...

enraged_camel 7y ago

Yep. One of the first things I learned early in my careers is, when you're having lunch at a venue with your coworkers, if the subject turns to client work, do not ever mention the client's name out loud. You never know who might be sitting nearby.

Scoundreller 7y ago
So how about that fruit company’s new phone?

blantonl 7y ago

Yup, and I guarantee you foreign states send nosey-nellies to all these venues to do nothing but snoop on this stuff.

dylan604 7y ago
So, the guy at the end of the bar that everyone just passes off as the town drunk might actually just be a very cleverly disguised spy? I want that as my cover when I join a spy agency.
- hirsin 7y ago
  Usually it means you can't actually drink that much, so, watch what you wish for.

User23 7y ago

Fun fact: Using knowledge gained in this way isn't insider trading[1]. Conceivably a person could even sell tips based on information heard in public places to traders. During the golden age of Wall Street, this was extremely common. Traders or their lackeys would visit businesses (or the bars near them) and pump employees for info. [1] Not a lawyer, not legal advice.

currymj 7y ago
generally speaking it seems like it is insider trading in Europe and is not in the US.
gamblor956 7y ago
It is insider trading if you get it by soliciting the information. It is not insider trading if you get it by simply overhearing a public conversation.
- notacoward 7y ago
  It's insider trading if it's material and non-public. Solicitation has nothing to do with it.
crummy 7y ago
In France, at least some authorities think it is insider trading: https://www.bloomberg.com/opinion/articles/2019-03-29/deals-on-the-train-are-everyone-s-business https://www.bloomberg.com/opinion/articles/2019-03-29/deals-...
formercoder 7y ago
This is a pretty grey area. Would not recommend trading on the info.
- jjeaff 7y ago
  How in the world would anyone prove that you traded on insider information that you overheard at a restaurant? Just keep it to yourself. You might be investigated, but not a chance they will find enough to even think about prosecution.
joezydeco 7y ago
What's even wackier is that in commodities trading, insider information was allowed. The loophole was a key plot point in the movie "Trading Places" and when the 2010 financial overhaul rules were passed, this section was nicknamed "The Eddie Murphy Rule". https://www.npr.org/sections/money/2013/07/09/200401407/episode-471-the-eddie-murphy-rule https://www.npr.org/sections/money/2013/07/09/200401407/epis...