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Indeed. EVERYONE involved in finance, from Warren Buffett on down, talks their book. EVERY transaction in finance involves asymmetric information. Might as well
by ralph84 6y ago
Indeed. EVERYONE involved in finance, from Warren Buffett on down, talks their book. EVERY transaction in finance involves asymmetric information. Might as well stop pretending these facts aren't true.
- PragmaticPulp 6y agoThey aren't accused of talking their book. They're accused of fraudulent statements. Warren Buffet saying that he's confident in Coca Cola's business model while holding a stake in Coca Cola is fine. Warren Buffer saying he's going to buy a lot of Coca Cola stock because he loves it (driving the price up) but then secretly unloading his Coca Cola position amid the resulting price bump would be a fraudulent pump and dump scheme. Let's be clear here: The accused perpetrators were using their platforms to endorse coins for the purpose of selling those coins to unsuspecting victims.
- worik 6y agoWarren Buffet on down through the layers of non-criminal financial managers (that set is not as big as it should be) do not lie about their holdings. They do not pretend that a investment is good simply so other people will want it, drive up the price, then sell. That is what John McAfee is accused of doing. A big difference.