> Your Warren Buffet example would absolutely be illegal. My understanding is that it very much depends upon how the information was obtained. If I, as a third

> Your Warren Buffet example would absolutely be illegal. My understanding is that it very much depends upon how the information was obtained. If I, as a third party, overhear Warren talking in a restaurant, that’s very different from hearing it during a Berkshire board meeting. Of course, everything, everywhere, is securities fraud. https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...