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How can you NOT insider trade once you're a C-level or politician? Your decisions literally change the market. Unless they pass a law that monitors every singl
by SavantIdiot 5y ago
How can you NOT insider trade once you're a C-level or politician? Your decisions literally change the market.
Unless they pass a law that monitors every single transaction of every person of interest, and even then, I'm sure my RIA would love to know if I had a juicy tidbit and could trivially hide it, I just don't see how you ever stop it.
That world isn't made for the people on HN.
- jaltekruse 5y agoFine, your decisions will impact the value of the stock. Prevent insider trading by requiring them to commit to a long term trading strategy. Make them commit a long period in advance if they want to make any trades. I understand there are regulations that require this of many executives, but as the article seems to make pretty clear there is still plenty of wiggle room make extra money off of secret knowledge and get away with it.
- SavantIdiot 5y ago> the article seems to make pretty clear there is still plenty of wiggle room make extra money off of secret knowledge and get away with it. Fine? That's my point. Can't be done. Like trying to forbid certain strata of civil servants from using encrypted communications.
- SyzygistSix 5y agoPut investments in blind trusts or even index funds that do not allow for granular control by people with powerful positions. That the laws cannot stop all asymetrical knowledge is no reason to not limit the most egregious abuses. High level politicians are paid well. Choosing public service may mean you give up the chance at stratospheric levels of wealth and that is okay.