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Submitted by reader Hedgehod's Repent
What is the command to insert a picture into your posts? I tried using the html command <img src="url"> and it didn't work.
F being a contributor. I'm here to avoid responsibility, not get more of it.
Wow, I didn't even know these existed. Where do I sign up as an average investor? Surely the money could easily be recouped with such priveledged information. This is sick but you have to admit it. Give Wallstreet a legal loop hole and they'll capitalise. Sheesh.
If you believe science is a "body" of knowledge to be built on, then yes, there may not be anything entirely new here.
good articles; good articles 4 slow news day ..http://www.. hat tip: finance news & finance opinions
Well, thanks again Tyler, I'm getting sicker by the day of being gamed! You certainly do your part and more to try and help this poor country. I guess freedom has been wasted on the lemmings,all they seem to do is wait to be eaten. On a lighter note, did you see where Chinese prime minister, Wen Jiabao [during the last visit of U.S. dignitaries]had asked the Premier of the cboc how to tell which was the "Head of State"[Clinton], he replied that's easy, she's the one with the dirt on her knees. Frank
Excellent letter. Makes you wonder just how many under ground railroads there are to Wall St.? Spitzer suffered the consequences of getting too close to the mob. I sense Cuomo has to tread lightly and he knows it. Unfortunately he will not jeopardize his higher aspirations IMO. Remember it is all about personal goals and not the greater good.
If Michael Vick can make a come back there's hope for Spitzer.
Perhaps Spitzer suffered the consequences of his own hypocrisy?
Alas,sex, money and power have always and will always be merry bed-mates.
I wouldn't count Spitzer out. Especially in the current enviroment.
When you witness, or are subjected to, events that you only ever conceived of in theory you end up changed and less sure of everything(at least i do).
Now, i find it harder to think in terms of left and right because i can't properly define either. I also, cannot tell the difference of either in practice.
Maybe the search for meaning is more important than the meaning itself? But i am a true dork, and spend to much time thinking about these matters.....
I love the phrase, "it is business not personal" which in the financial world is the green light for strip clubs, lap dances, hookers and blow. I am of course being facetious about the love part.
In my experience being a law professor in this context means nothing, as far as doing the right thing. Especially if it comes at the cost of business (which after all is the ONLY thing that matters). As for running away, i don't know. For some the least path of resistance is their chosen course.
Notwithstanding, anything i just said, i think the whole situation perfectly frustrating. Nobody doing anything and everyone pretending it didn't happen. Apathy...
I am sure it will continue as well (why wouldn't it, the perpetrator suffered no consequences). And it doesn't just go on in midtown. But the fact that you speak out about it is a small strike at apathy....
Good night Andy!
Contemplation is the wellspring of creative genius.
Enjoy the gift Lizzy!
Lizzy--it is a gift to be a person who concerns herself with "ideas".
+10, and absolutely agree. keep it up lizzy
no dude, just got home LOL ... think i overdid tonight ... what time is it there. 2am right ?
good luck man i hope you find some more. we got shitfaced last night and went dynamite-fishing with the locals. maybe THE best experience i had in my life.
these "flaggers" must have no sense of humor, and no curiosity...that sounds like hell to me!
You two are killing me...thanks for the laughs!
Small cap. Like what IBM or Intel. Oh sorry wrong year. That's next year.
You want teeth to bite the bankers, feed information to the plaintiff bar. A hungry plaintiff lawyer will be happy as a pig in sh*t suing banks for a peice of the settlement or judgment.
Problem with Plaintiff Bar is that it needs to be Class action. Results, they get 40% and after expenses, distribution is a lunch coupon for the NYSE cafeteria!
Individual investors lose at FINRA...
some music please.
Listen, the FBI does not normally wiretap call girl operations. Spitzer was a great target. Someone dropped a dime, AUSA wrote a Title III application and the next thing you know- Spitzer is no longer a thorn in the side of wallstreet.
August 8, 2005
Dear Attorney General Gonzales and Chairman Cox:
Please find linked a special report published in the Seattle Times this past weekend, entitled “Selling Drug Secrets.”1 The serious nature of the reported findings
and allegations, coupled with the grave implications if these allegations are meritorious, compel me, as Chairman of the Committee on Finance (Committee), to refer these
matters to the Department of Justice and to the Securities Exchange Commission for consideration.
Selling drug secrets violates a trust that is fundamental to the integrity of both scientific research and our financial markets.
As Chairman of the Committee, I request that your agencies conduct a complete and thorough review of these findings and allegations and please keep the Committee
apprised of your progress.
In addition, please advise whether or not Congress needs to consider strengthening any laws in light of these reports. Finally, at the earliest opportunity, I would appreciate receiving a briefing from your respective agencies.
Thank you in advance for having your staff coordinate with my staff about these matters no later than close of business on August 15, 2004. . . .
Charles E. Grassley
Without all the parts agreeably related the worse off we become.
That letter was pretty good up until the signature. How can you take seriously people who won't actually identify themselves? (Tyler)
Flash trading can't be called "front running" and now expert networks can't be called called "insider trading". Membership does have its privileges.
I used to work in hedge fund of funds. Some of the health care and tech hedge funds that we were invested used "consultants" such as GLG and said that they thought that GLG could put you in touch with corporate insiders who would give inside info. The funds that we were invested in said that they were careful not to ask for what they thought would be inside info and we could only take their word for it. We're talking about some very large hedge funds.
Personally, after speaking to several GLG clients my impression is that GLG is a willfully blind "information launderer". That is, they arrange the meetings where the exchange of inside info is likely to take place but they deliberately avoid monitoring what is said in the meetings.
I used to work in hedge fund of funds. Some of the health care and tech hedge funds that we were invested in used "consultants" such as GLG and said that they thought that GLG could put you in touch with corporate insiders who would give inside info. The funds that we were invested in said that they were careful not to ask for what they thought would be inside info and we could only take their word for it.
the anti americans here astound me.
this is all simple capitalism at its finest.
you are just jealous at us rich people.
More details about our country, the banana republic of Gotham City.
Not to worry. We are quickly approaching the golden age where computers will be able to judge us and keep us in check.
I am a member of Linkedin and they have my blessings to a certain point. But one wrong move and I (and hopefully many with me) will push them off the cliff. Just to show them what consumer power is.
All eyes on China, it's about to ...
-12 in past 14 days and another -4 %+ today.
duck & cover, Round 2.
King ( from British Central Bank ) just decided to devalue the pound ( it this even news for you FX traders or a known fact ? ). If you ask me why, i don't know; and if someone here could give me a cause for this action, i would really appreciate it. Thanks. Oh, and I'm pretty sure it has nothing to do with increasing production and exports ( they have no industry left )
http://www.bloomberg.com/apps/news?pid=20601087&sid=aY.WFW.AgaVY ( the story is to follow, i have just post the link for validation )
and so it beggins http://www.forexrate.co.uk/charts/gbpusd.php just look at that fall
Is TD still negative on USD?
Disconnect between JPN and USD would be fun.
i have no idea man; haven't seen articles about USD in a while from TD, but RoboTrader did some excellent analysis a couple of days ago; and Travis/Cornelius/Narrator has a piece on the front page about currencies. I'm negative on USD on the long term, but totally not interested in it in the short term.
Without commenting on the ethics of this, I will say that this type of thing is common practice among sell side and buy side analysts. What do you think a "channel check" is?
When I was a sell side analyst, the sales desk and more naive buy side guys often assumed that we had these great connections (if we did, we rarely had the time to call them) and we did nothing to dispel that impression. Nonetheless, I used to occasionally read reports from (formerly) reputable sell side shops that would miraculously forecast m&a transactions or big contracts a few weeks or days ahead of the news with astonishing accuracy and detail. Somehow this never seemed to raise questions from the firms' internal compliance or among regulators. I have no idea how they got away with this as we were not allowed to publish on deal rumors unless we cited a source (e.g. wsj, ft, zerohedge, etc.).
In the the example above, it would be hard to make an insider trading case unless the prosecutor had very specific information about what was discussed on those calls. Unless these guys are idiots (possible, but not likely), I seriously doubt they are recorded.
when was the playing field ever level? when was corruption not endemic? fyi, utopia syndrome is a pathology. just so you know.
expert networks are just sucker bait anyway. trading on expert or inside info is extremely risky. better to just let price tell you which way it's going. that's reliable. then take the insiders for a ride.
Advisory councils are also interesting. As an example, look at Fitch's: http://www.fitchratings.com/jsp/creditdesk/AboutFitch.faces;jsessionid=0...$3F$3C$5?context=1&detail=17
It is obvious that none of these would hesitate to give advice that ran contrary to their own business interests. The all hold several degrees - duly noted on their short bios - and are thus as academics beyond reproach. Hhm.
I'm tired of hearing about insider trading. No doubt much of what goes on it illegal but I don't care. Any significant actions taken on insider information are reflected in the markets to an astute observer. People understood that in the 1920's and acted accordingly. Now they assume they are being protected by the government and go in with blinders on. Nobody that stupid can be saved from themselves no matter how many laws there are or how extreme the enforcement.
Every [private] transaction in a market is based on both sides having information/ideas/analytical abilities that the other doesn't. There is no logical place to draw a line on what information is ethical to use and attempting to create one results in ridiculous leaps of logic to justify the choice.
I love exposing hypocrisy as much as anyone, and failure to enforce their stupid laws is a wonderful example of that, but in the end I think enforcement does more harm than good.
As I understand it, most mutual funds use GLG and services like it.
Therefore, if you would like to have your money managed by investment professionals who have access to these networks, you can invest with these firms. The minimums are very low for most of these fund families.
Problem solved, as far as I can see.
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