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Post by dirtypillows on Oct 11, 2019 4:14:53 GMT
I'm about as far away from being financially savvy as you can get, but I never did understand what was wrong with insider trading and why, for example, Martha Stewart was sent to jail for it.
It seems to me that Wall Street and stocks and trading and all that business is cut throat and competitive and dog eat dog and all that, and if somebody who played the market had an inside tip why wouldn't they use this to their advantage? It's not like doing volunteer work for the homeless and the needy. I mean, those players are all super tough and I wouldn't think they were exactly scrupulous to begin with, so wouldn't it be the height of hypocrisy to cry foul when somebody plays a tip? Don't they all do it, anyway? And if you did get wind of something, would you be morally or ethically or legally obligated to remove yourself from the competition? But it just sounds kind of ridiculous that the rich and the greedy wouldn't take full advantage here. I mean, in life, aren't we taught to take advantage of opportunity? So why is it so wrong here? It really just sounds like sour grapes that the Martha Stewarts were clever enough or smart enough or lucky enough to catch the break that so and so would have taken full advantage of himself.
Or was it just that Martha got caught? And that was her crime? What is it that I am not getting here? Wouldn't you be completely stupid and naive to not take advantage? Or is Wall Street not as corrupt as I assumed? I don't understand at all.
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Post by Toasted Cheese on Oct 11, 2019 5:11:56 GMT
The establishment uses it as a scapegoat to deride others for things they are doing themselves. What is insider trading anyway? Knowing something before someone else does???!!! As if big corporations and governments don't know and then cover things up to suit their own agendas.
What went on in the 80's regarding insider trading doesn't appear to rear its head anymore. Its now legal.
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Post by Jayman on Oct 11, 2019 5:16:13 GMT
The establishment uses it as a scapegoat to deride others for things they are doing themselves. What is insider trading anyway? Knowing something before someone else does???!!! As if big corporations and governments don't know and then cover things up to suit their own agendas. What went on in the 80's regarding insider trading doesn't appear to rear its head anymore. Its now legal. It is all there illustrated in great detail in the movie wallstreet 
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Post by dirtypillows on Oct 11, 2019 5:19:17 GMT
The establishment uses it as a scapegoat to deride others for things they are doing themselves. What is insider trading anyway? Knowing something before someone else does???!!! As if big corporations and governments don't know and then cover things up to suit their own agendas. What went on in the 80's regarding insider trading doesn't appear to rear its head anymore. Its now legal. Exactly! That is totally what I was getting at with the OP. What kind of Wall Street fool would NOT use this to their advantage? It's not like they're nursery school teachers or something. You would be regarded as a loser fool who didn't use this to your advantage.
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Post by Toasted Cheese on Oct 11, 2019 5:21:40 GMT
The establishment uses it as a scapegoat to deride others for things they are doing themselves. What is insider trading anyway? Knowing something before someone else does???!!! As if big corporations and governments don't know and then cover things up to suit their own agendas. What went on in the 80's regarding insider trading doesn't appear to rear its head anymore. Its now legal. It is all there illustrated in great detail in the movie wallstreet Yes, I love Wall Street, but that was also sensationalized for movie purposes. Charlie Sheen broke into other offices to get what he wanted, but with technology today, no need for that.
Gekko in Money Never Sleeps: Not only is greed good, it is now legal.
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Post by Jayman on Oct 11, 2019 5:24:48 GMT
It is all there illustrated in great detail in the movie wallstreet Yes, I love Wall Street, but that was also sensationalized for movie purposes. Charlie Sheen broke into other offices to get what he wanted, but with technology today, no need for that.
Gekko in Money Never Sleeps: Not only is greed good, it is now legal.
Yeah I guess you're right about that. I have to watch that movie again. IT's been way too long.
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Post by lenlenlen1 on Oct 11, 2019 17:51:20 GMT
Because it gives only a small few, the insiders, an unfair advantage.
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Post by Nora on Oct 11, 2019 18:42:29 GMT
Because it gives only a small few, the insiders, an unfair advantage. beat me to it. yes its the improper advantage. and also tje ability to affect economies.l and abuse that power. |
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Post by politicidal on Oct 11, 2019 19:04:04 GMT
Because it gives only a small few, the insiders, an unfair advantage. “...an advantage that man gives to himself” - C. Montgomery Burns, old proverb. |
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Post by dirtypillows on Oct 11, 2019 20:21:50 GMT
Because it gives only a small few, the insiders, an unfair advantage. That reeks of "boo hoo! not fair!" Since when did these ruthless players care about the rules and playing nice? Honor among thieves? Girlfriend, please! This is not Robin Hood and His Merry Bandits. Jealousy and greed rule the day. Again, sounds to me like sour grapes. I would think 95% of that particular group would pounce on the chance for an insider tip. Of course, if they can catch the competition with their hand in the cookie jar, they're going to scream foul, loud and constant. It's all a big game. Now, I will have to see if Amazon prime has "Wall Street", as I have never seen it. Maybe Michael Douglas will have a nude scene or something. He was beautiful in his 30s and when he reached his 40s, he traded out his beauty for sex appeal. He seemed like an extremely horny creature.
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Post by Toasted Cheese on Oct 12, 2019 13:35:15 GMT
Because it gives only a small few, the insiders, an unfair advantage. The entire corporate world and those interested in the financial markets and governments MO is an unfair advantage. They are deflecting with a duplicitous projection of insider trading.
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Post by Toasted Cheese on Oct 12, 2019 13:38:45 GMT
Because it gives only a small few, the insiders, an unfair advantage. That reeks of "boo hoo! not fair!" Since when did these ruthless players care about the rules and playing nice? Honor among thieves? Girlfriend, please! This is not Robin Hood and His Merry Bandits. Jealousy and greed rule the day. Again, sounds to me like sour grapes. I would think 95% of that particular group would pounce on the chance for an insider tip. Of course, if they can catch the competition with their hand in the cookie jar, they're going to scream foul, loud and constant. It's all a big game. Now, I will have to see if Amazon prime has "Wall Street", as I have never seen it. Maybe Michael Douglas will have a nude scene or something. He was beautiful in his 30s and when he reached his 40s, he traded out his beauty for sex appeal. He seemed like an extremely horny creature. Douglas is terrific in Wall Street. The entire movie is one big 80's rush. He represents everything that you claim and yet it is his game and gets derided for it, when it was and still is being played the world over by scrupulous and money hungry business men. It is what they do and how that sphere operates. No point pointing a finger at a few, when they have 3 pointing right back at them.
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Post by Toasted Cheese on Oct 12, 2019 13:40:48 GMT
Because it gives only a small few, the insiders, an unfair advantage. beat me to it. yes its the improper advantage. and also tje ability to affect economies.l and abuse that power. Abuse in this realm is the game for the top spot. They are all doing it. Gambling and they need the odds in their favor to succeed. No point being in the game otherwise.
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Post by Nora on Oct 12, 2019 14:29:56 GMT
beat me to it. yes its the improper advantage. and also tje ability to affect economies.l and abuse that power. Abuse in this realm is the game for the top spot. They are all doing it. Gambling and they need the odds in their favor to succeed. No point being in the game otherwise. if you do something within the given legitimate boarders of a legally envision editor conduct to me that’s not abuse, but I see your point if you are saying that the overall trading system is an unhealthy “game” that often relies on using someone’s weaknesses against them. But nevertheless that is the legitimate system. |
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Post by mecano04 on Oct 12, 2019 19:15:59 GMT
It was made illegal to give the investors a fair chance.
It's to prevent the first persons who know the ship is sinking from being the only ones getting in lifeboats while leaving everybody else to sink with the craft while they don't even know the situation is critical, or in some case, don't even know the ship is taking water.
In other cases, it might be to allow everybody to make money, not just a few guys.
Let's say the company you direct is making coffee machines. You just lost a major contract and one of your supplier (from whom you weren't the main customer) is closing. In short, the near future is looking pretty bad but the info should be published only in a few weeks for the quarterly report.
Should you be the only one cashing in on the shares and leave the company or should the average shareholders also know about it before it's too late so they can have a chance at doing something before they lose their money?
Back to the lifeboat example, should you be able to escape to safety alone because you had first knowledge of the problems or should everyone else in this with you also have the opportunity to do so?
It's not about the guys sharks at the top eating each other or besting one another but about helping the average Joe get a chance at dealing with the Market and not be too easily screwed by those sharks.
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Post by Eλευθερί on Oct 12, 2019 19:51:43 GMT
I mean, in life, aren't we taught to take advantage of opportunity? So why is it so wrong here? That is a morally bankrupt attitude.
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Post by dianachristensen on Oct 12, 2019 19:54:24 GMT
I mean, in life, aren't we taught to take advantage of opportunity? So why is it so wrong here? That is a morally bankrupt attitude. This thread is pretty much two best buddies trolling, liking one another's posts which reach very strenuously in attempts to come across as edgy and provocative. It's kind of cute.
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Post by Jayman on Oct 12, 2019 22:47:03 GMT
That is a morally bankrupt attitude. This thread is pretty much two best buddies trolling, liking one another's posts which reach very strenuously in attempts to come across as edgy and provocative. It's kind of cute. im just an innocent neutral party. I hope I am not a troll  |
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Post by Huxley on Oct 12, 2019 22:59:18 GMT
I've always thought it was because they had too much knowledge of was being bought/sold. It would make it unfair for everyone else.
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Post by dianachristensen on Oct 12, 2019 23:12:33 GMT
This thread is pretty much two best buddies trolling, liking one another's posts which reach very strenuously in attempts to come across as edgy and provocative. It's kind of cute. im just an innocent neutral party. I hope I am not a troll :) Definitely not! You are like an early Criminal Intent era Vincent D'Onofrio! Nah, I meant these two cuties, dirtypillows and ToastedCheese. "Trolling" is not always negative, at least not to me; more than half the time that I use it, it's pretty much synonymous with "posting" and usually implies some fun is being had by someone somewhere.
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