Agreed that they have a massive information advantage over the casual investor, as this is their job. My argument is not hedge fund vs. casual investor, it's he

Agreed that they have a massive information advantage over the casual investor, as this is their job. My argument is not hedge fund vs. casual investor, it's hedge fund vs. hedge fund. They are all equally-intelligent individuals with the same ivy-league degrees and expensive equipment. The only differentiating factor in this saturated market is network strength. Not arguing the legality of trading on insider information either. The laws are notoriously unclear, hard to enforce, and subsequently broken because information is harder to track than money, cars, and drugs. At the end of the day I would appeal to an ethical duty not to impoverish your fellow man and rend the fabric of the society that brought you up, rather than the flimsy and unenforceable definitions set forth in the legal code. On the last note, to lighten the tone: any budding hedge fund managers should consider taking time off to sunbathe more :) http://www.dallasnews.com/business/headlines/20131013-cuban-case-has-parallels-to-switzers-30-years-ago.ece http://www.dallasnews.com/business/headlines/20131013-cuban-...