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Nothing stopping anyone from sending this link to the relevant SEC departments and see if you get a reply!
Insider Traders Investigated For ETF Stripping, Or How The SEC Is Now Only 10 Years Behind The Curve
A couple of inconvenient questions:
I know that on ZH it's a badge of honor to criticise anything that is connected to the government, and that if you ever talk positively about some particular government action it instantly moves your reputation next to that of Beelzebub's (not to mention the dozens of junks your post will get), but you should really make sure your specific criticism is at least borderline true and justified.
It's not like there's any lack of real government screw-ups to report about ...
You write like a smart person, why not lend your brainz to the SEC? Seems like they need some help with the non-pr0n portion of their job...
Military accused by human rights campaigners of targeting hundreds of anti-government protesters
And netfucks hits 52 week high today.
bah - Obummah and before him Bush outsourced torturing of random terrorist subjects to Egypt exactly for their skills in this area.
"The brilliant minds as the SEC have finally realized that when it comes to insider trading, they are and will forever continue to be, about 10 years behind the curve. "
So, what is the statute of limitations for insider trading and other forms of financial malfeasance?
I saw firsthand how easy it is to direct SEC audit to deadend queries. Lazy, unimaginative bureaucratic fucks...
this article had me crying ....i couldn't have strung together a nicer bunch of superlatives for the SEC
The DOJ, SEC. etc., how funny.
Yep DoJ is funny and here's some more clown shows you gotta see: USG, TA, EPA, EU, UN, IMF, WHO, IPCC... these comedy acts are all 'coming to town' soon, you'll piss your pants
How can you keep up with these freaks?
This is the Only Way. Buried whistle clause in Dodd-Frank. The banksterlobbyists must have missed it somehow.
I suppose I am not the first to see "apes and swine" at work here. Animal cunning combined with enormous ego will always find a way to circumvent what a law-abiding people would call "justice". Who needs a pathetic "nation" when you have a billion bucks of loot in your pocket.
Tyler I wish you wrote for the late night stand ups. At least then they would be funny.
$1B Chairsatan bucks really doesn't buy one much anymore does it?
I've been researching this while reading Hustler, and to me the problem of getting the SEC to bring charges against insider traders is akin to getting mom to tell dad that she will divorce him if he doesn't call the cops to arrest their son for spying on her sister while she was having sex with mom's husband, or dad.
Good thing durty Mary Shapiro is paid $8 million annually and has received immunity for the crimes she committed in her last two appointments, otherwise we might have someone heading the SEC who was tempted to act on behalf of the fraud banks instead of the investors as was the SEC's original and now tainted (more like soiled beyond recognition) mandate.
Are these the guys who are going to take on Expert networks?
computers: crap in, crap out... SEC expert networks: SEC in, retards out
I wish the SEC was running the IRS
Long dong silver. Clarence Thomas' favorite porn movie, but you new that already td. I catch all of your obscure references but rarely mention it. Have to let you know they are appreciated every once in a while.
Hopefully, we'll get more Long Dong Silver references.....there's gotta be more jokes there.
Tupac had a song about the SEC
"Wonda Why They Call U Bitch."
C-D-O and the Inter Alpha is about to be deceased and monetarism finally be at peace.
As Tupac said, 'I figured you wanted to know, you know, why we call them, hoes bitches, and maybe this might help you understand. it ain't personal. strictly business baby, strictly business.'
When it comes to the SEC (they shouldn't) Wonda Why They Call U Bitch.
and if rap isn't your thing Mary....how about some (an actual good) Queen?
"Searching around - kick my brains around the expert network floorThese are the days it never rains but it pours POMO
Ee C BeEe C BeUnlimitedbail-out
People on the streets- ee yada yada..People on the streets- ee yada yada yada....
It's the terror of knowing the that SEC doesn't know what the fucking Monetary world is all about
Watching 'good' hedge fundsScreaming 'we already figured it out'
Pray tomorrow - the markets melt up higher...higher..highPressure on people - except the people on wall street
Turned away from reality like a blind manSat on a fence shaped like dildos while at workKeep coming up with sophistrywhile watching midget pornWhy-why-why?
CAPTURE CAPTURE CAPTURE CAPTURE CAPUTRE
Insanity market -laughs at the SEC - capitalism is cracking
No we can't give monetarism one more chanceNo we can't give imperialism one more chanceNo we can't give bailouts give bailouts give bailouts give bailout give bailoutsCause Monetarism is such an old fashion ideologyAnd monetarism dares you not to care forthe people on the edge of the nightand monetarism dares you to care for banksters and fascismInstead of caring about ourselvesThis is our last chance
This is our monetary system
This is ourselves
Under PressureUnder PressurePressure"
Perhaps it's a bit more 'her generation'
...and finally Mary, if you still can't comprehend, then maybe Sesame Street can break through the SEC's obvious 1st grade reading level.
"Sunny DayBernanke's presses sweepin' the bond vigilantes awayOn my way to where the frauds are sweet!!
Can you tell me how to get,How to get to Wall Street
Come and playAccording to the SEC Everything's A-OKFriendly regulators thereThat's where we skeet
Can you tell me how to getHow to get to Wall Street"
"an evolutionary bottleneck in orangutan to simian evolution"
Thanks TD. That makes cleaning nose-blown coffee off my monitor and keyboard totally worth the trouble.
I'll take the other side of the argument just to make the site ballanced...
The SEC is like any large regulatory organization. In the end, Congress and the Administration get the results they want. They do so using 3 main mechaisms;
1. They appoint the Chairman - name all of those Chairman that you have been really impressed with...ok, name 2 then
2. They create legislation - no need to ellaborate here...Frank-Dodd
3. They decide on budget - when the SEC does start to go after the Street they get their budget cut
Do you really think that Capital Hill politicians want their Wall Street sugar daddies to face all that much scurtiny?
There are pretty smart people on this board and how many of us would take the pay cut required to go work for the SEC?
How many would put up with ass hat political appointees who knew nothing telling us what to do?
Then, when you do find something and you can make it stick, you get your ass chewed on and face possible public humiliation for not finding it fast enough.
This isn't meant to excuse poor performance, just to explain it.
retards, midget transvestites .. porn fanatics ...
is this supposed to be clever journalism ?
Why not just stick to the story and the facts ?
this website use to be, and still often is, an intelligent read, please don't insult readers intelligence by resorting to this type of writing.
That is sticking to the story and the facts. Google "SEC" and "porn" and you'll see what kinds of activities often take precedence over actual law enforcement.
Truth has a rapier-sharp wit, deal with it folks! :>D
Ha! it seems like the mosaic theory excuse was born the day Reg FD came out. The term may actually have been lifted from SEC language clarifying acceptable/unacceptable behavior under the (then) new law.
Dude, I put all the tiles together and figured out the CEO was about to have a heart attack...
THERES NOTHING BULLISH ABOUT THE NIFTY
Isn't the whole set of derivatives (options, futures, ETF's) that are available nowadays designed to mask insider trades? The big money is not necessarily made in the stock trading itself, but in the invisible profits generated by trading derivatives with insider knowledge: based on direct and indirect price manipulations of stocks, commodities, bonds and currencies through predatory HFT and other frontrunning scheming, the derivatives that are connected to it are pushed in the wanted direction, moreover with huge leverage. In that respect it doesn't matter anymore whether S&P is at 1000 or 1500, only the programmed movement of stocks up or down counts (whichever squeezes best at any moment, now it's squeezing shorters). Profits from stock trading are probably insignificant or even negative, as they are being offset by huge profits from nicely covered up derivatives trades. Some call it smart hedging. Others call it plain illegal manipulation.
A few responses.
I'm skeptical of this too. How is this supposed to work? Even supposing a name is 10% of an ETF, and even supposing a merger or acquisition pops it by as much as an astonishing 50%, owning the ETF is a pretty deleveraged bet. You can leverage up in options on the ETF, true, but you'll pay a premium to capture it because you'll have to go in or near-the-money to catch it.
And I could be a dunce, but I don't see why anyone would go long the ETF and short components (except the one you expect to ramp). Why would the other components sell off? Do you expect selling from redemptions? Do you expect selling if the ETF rebalances? Why would you expose yourself to market risk in a lot of names you know little about?
If these questions are reasonable, I think it's more evidence the SEC doesn't know what the hell it's doing than anything else. If anyone has details I'd love to hear them because this is far from obvious to me.
Its actually easier with futures and doing a custom basket that captures most of the risk, you get a great margin deal and you dont have to do near as many names. Theres a little risk but not that much so long as you make sure beta is in line and stay away from other risks. if its bad news the correct strategy is to do spu puts or other related puts and go long basket minus names you dont want. Either way its pretty easy, and all depends on getting decent margins. It works well with sector etfs one way, and better with large cap another. You have to look at complete combination of whats traded, and the fact that news often seems to be priced in already as it comes out. Plus its actually often cheaper to short the etf in this environment. All I can say is follow the volume in swaps stocks and etfs.
Actually its pretty easy, but the trick is using TAS orders to get the right price. Its really no different than futures vs baskets without all the components, Its still a little risky but I would say look for large creations in etfs and sudden increases in swap and future position that are only held for a day or so. otherwise the expense gets to be terrible.
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