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The article is off on the magnitude of the fine - $550 million not billion. Still very large but not quite GDP of a nation size. It's a bit much to label it a
by cmdkeen 14y ago
The article is off on the magnitude of the fine - $550 million not billion. Still very large but not quite GDP of a nation size.
It's a bit much to label it a scam based on the evidence in the article itself. The target price of an exchange traded share is far more public and published compared to a complex financial instrument. If people bought millions of dollars of bonds based on nothing more than Goldman's analyst's stock target price then they are a fool.
- kenkam 14y agoAgreed, I fail to glean from the article how people "got scammed". Were they told Apple stocks would continue to rise? what I would like to find out is whether they were market making and hedging what they were selling to their clients or rather taking short positions and selling clients long positions. They stand to gain little if they were just market making -- I suspect they must have taken some middle ground to make a profit.