FetteredChinos
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nope, i couldnt do it.
fear of getting caught and all that. i quite value my freedom at the moment.
Far more important things in life, such as courtesy to other people. Mentioning no names on this thread!
FC
fear of getting caught and all that. i quite value my freedom at the moment.
Far more important things in life, such as courtesy to other people. Mentioning no names on this thread!
FC
Re: Re: Insider Dealing would you do it?
Hmmm well ive read one of Elders books in which he spoke to a lawyer who acted on it, Elder then assumed a short position (it may of been his purpose to do so before discussing this particular company) but he did tie that trade into the conversion with the lawyer.. but im sure Elder used chart analysis rather than the takeover information for basing his trade.etc..
so just seeing how open people are with themselves.
jd.
Mr Chill said:
This is about as interesting as your silly chicken thread .
Hmmm well ive read one of Elders books in which he spoke to a lawyer who acted on it, Elder then assumed a short position (it may of been his purpose to do so before discussing this particular company) but he did tie that trade into the conversion with the lawyer.. but im sure Elder used chart analysis rather than the takeover information for basing his trade.etc..
so just seeing how open people are with themselves.
jd.
Why not, everyone else is doing it in London. In fact the deeper you look into the London market the more you realise what a cess-pit of insider dealing it really is.
The authorities are completely useless and it's very very hard to bring a prosecution, and that's why there are hardly any ID cases in the courts, unless of course it's completely blatent.
Different matter in the US, there they normally always get their man unless of course he's in the Club sitting at the top.
The authorities are completely useless and it's very very hard to bring a prosecution, and that's why there are hardly any ID cases in the courts, unless of course it's completely blatent.
Different matter in the US, there they normally always get their man unless of course he's in the Club sitting at the top.
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Perhaps 'insider dealing' should be defined first - after all, it will mean different things to different people.
Everything is in the charts anyway, so there's far more to be made IMO from correctly interpreting the charts than having an ear to the ground (if that is what insider dealing is).
Out of interest, one of the mentors I've had reckoned that you had only really made it as a trader once you had been investigated by the US authorities (he was a US citizen) - it was a sort of 'badge of honour' as in the eyes of the ignorant your trades could only be explained as 'well, he can only have inside knowledge to be that successful', which is a load of rubbish as they're all on the charts for every Thomas, Richard and Harold to see for themselves.
Everything is in the charts anyway, so there's far more to be made IMO from correctly interpreting the charts than having an ear to the ground (if that is what insider dealing is).
Out of interest, one of the mentors I've had reckoned that you had only really made it as a trader once you had been investigated by the US authorities (he was a US citizen) - it was a sort of 'badge of honour' as in the eyes of the ignorant your trades could only be explained as 'well, he can only have inside knowledge to be that successful', which is a load of rubbish as they're all on the charts for every Thomas, Richard and Harold to see for themselves.
donaldduke
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FetteredChinos
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skim, I presume those big ears of yours are nowhere near the ground then??
:cheesy:
sorry, i couldnt resist it!
valid points though.
incidentally. Where does one draw the line with "insider dealing".
presumably it is to relate to the actual purchase/dumping of shares prior to a major price sensitive piece of news. But how does this then apply to spreadbetting, as there is no ownership actually involved. I fell asleep when trying to read up on this in the CMC manual. perhaps someone could shed light on this.
perhaps we have yet another massively "grey area" here.
FC
:cheesy:
sorry, i couldnt resist it!
valid points though.
incidentally. Where does one draw the line with "insider dealing".
presumably it is to relate to the actual purchase/dumping of shares prior to a major price sensitive piece of news. But how does this then apply to spreadbetting, as there is no ownership actually involved. I fell asleep when trying to read up on this in the CMC manual. perhaps someone could shed light on this.
perhaps we have yet another massively "grey area" here.
FC
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Mr Chinos, I'm an ordinary sort of bunny with pert ears, not one of those lop-eared ones. :cheesy:
FetteredChinos
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I'm an ordinary sort of bunny
and now a bit of a gay icon if i believe everything i read in the papers.
you go girl!!!
and now a bit of a gay icon if i believe everything i read in the papers.
you go girl!!!
TheBramble
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FetteredChinos said:
A couple of guys working for an SB were hauled off the streets recently for precisely that reason - it appears it does apply.
I think perhaps the real question is:- if you could be 100% sure of absolutely getting away with it - would you do it?
Like any other trading situation where you weigh the risk/reward, with these odds, you'd be crazy NOT to do it.
However, if you want to bring moral issues into it you'd maybe want to ask yourself a couple of questions.
1. Why would it be morally wrong to win a trade on 'inside information' yet not through purely excellent trading skills? You're still beating the same people - and taking money from the same people - with superior knowledge.
2. Someone once said "Morals are a function of the date on the calendar and the latitude and longitude at which you find yourself".
The degree to which you agree with that statement is the degree to which you would consider using inside information for your financial benefit.
donaldduke
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If you plan to do insider dealing you need to be bit clever and
think about covering your tracks.
Lets say you know a company is going to announce really good
earnings you might want to buy a competitor stock instead as
they are likely to rally aswell..
Insider trading is bad for the markets. People will lose faith
the 'fairness' of the markets (you can argue it isnt a level
playing field now but it would be much worse) and that would
mean people not playing the game .. lower liquidity etc
The options market would lose liquidity overnight, news can really
move option prices.. nobody in there right mind would write
options on individual stocks in a market where insider deal
was allowed.
Same with invidual stocks, insiders would make money at
expense of the public, in the end the people without the
inside knowledge would simply not play.
As far as SB and Insider dealing, Its been illegal in options
market for years and that is not direct stock owning either so
i would think SB would be illegal too.
think about covering your tracks.
Lets say you know a company is going to announce really good
earnings you might want to buy a competitor stock instead as
they are likely to rally aswell..
Insider trading is bad for the markets. People will lose faith
the 'fairness' of the markets (you can argue it isnt a level
playing field now but it would be much worse) and that would
mean people not playing the game .. lower liquidity etc
The options market would lose liquidity overnight, news can really
move option prices.. nobody in there right mind would write
options on individual stocks in a market where insider deal
was allowed.
Same with invidual stocks, insiders would make money at
expense of the public, in the end the people without the
inside knowledge would simply not play.
As far as SB and Insider dealing, Its been illegal in options
market for years and that is not direct stock owning either so
i would think SB would be illegal too.
Some interesting points.
What about this - insider dealing is only a concept in the stock markets. The term is meaningless/doesn't apply in FX or derivatives markets. In fact, when you think of it, especially in FX, most of the big moves made by governments will actually be based on insider knowledge - it's key to how these markets operate.
Therefore, does that mean the practise is in anyway immoral? Maybe it is only unjust in the way it is selectively applied to some markets and not others.
Anyway, most of us know it is less risky to trade AFTER the news, not before, as you don't know how the market will take the news. If you did have an inside line, I reckon you'd still ahve to be pretty skilled and select inacting on the information you do have.
What about this - insider dealing is only a concept in the stock markets. The term is meaningless/doesn't apply in FX or derivatives markets. In fact, when you think of it, especially in FX, most of the big moves made by governments will actually be based on insider knowledge - it's key to how these markets operate.
Therefore, does that mean the practise is in anyway immoral? Maybe it is only unjust in the way it is selectively applied to some markets and not others.
Anyway, most of us know it is less risky to trade AFTER the news, not before, as you don't know how the market will take the news. If you did have an inside line, I reckon you'd still ahve to be pretty skilled and select inacting on the information you do have.
