Insider trading

Playboyize
Playboyize

Assume I work in an office and my boss happens to be a board member of a public company (not the one I or my boss work for) and I occasionally overhear him speak on the phone about that company with its management and I use that information to personally trade that company's stock.

Would that be considered insider trading?

Deadlyinx
Deadlyinx

@Playboyize
Yes but they can't prove that in a court of law, nor would they suspect you in the first place.

SniperGod
SniperGod

@Deadlyinx
Thanks, you're probably right. I'm just a small fish flying under the radar. On top of that, I'm located half-way around the world from said public company.

Spamalot
Spamalot

@Playboyize

If it's a big noticeable trade, then yeah it'd probably be suspect. Either way, probably no hard evidence.

likme
likme

if you are a small fish and invest, say 25,000 in this public company, no one is ever going to look at you.

Bidwell
Bidwell

@Playboyize
I would recommend that you don't. It's illegal and immoral.

Flameblow
Flameblow

@Bidwell
well look who just stumbled into Veeky Forums

TechHater
TechHater

@Flameblow
It's completely unethical. It's not a fair competition, how could someone spend money that they didn't earn properly. This is why this hyper-capitalist competition of over securitization is totally wrong, humans can't be trusted to be ethical in a free market.

You tell me....you tell me what's morally correct about insider trading.

eGremlin
eGremlin

@Playboyize

Technically yes this would be insider trading, but you would never get caught for this.

I say go for it.

AwesomeTucker
AwesomeTucker

@TechHater
The possibility to donate the money to charities?

New_Cliche
New_Cliche

@AwesomeTucker
We wouldn't need charities if rich people stopped ripping off the honest hard working or if insiders kept ripping off the few honest investors.

Burnblaze
Burnblaze

@Playboyize
purely for research purposes OP, why dont you tell us the ticker symbol and whether to buy or sell it?

Spazyfool
Spazyfool

@TechHater
Ask Martha Stewart, she's all about that life.

BunnyJinx
BunnyJinx

@Playboyize
yes... but you could be smart about it

like don't have no account activity then suddenly buy a bunch of put options immediately before bad results get released etc...

but if you were to actively trade that stock plus maybe one or two similar ones... (win, lose, breakeven over time) then take various punts based on the information in addition to your usual activity... then it would be much harder to detect... especially as it is personal account stuff and there isn't really any paper trail or direct link from you

Need_TLC
Need_TLC

It's illegal but you won't get caught.

Garbage Can Lid
Garbage Can Lid

@Playboyize

@Burnblaze

:)

at least make a few memestock threads about it on Veeky Forums so we dont lose all our $ on MGT/fantasycurrency etc.

Burnblaze
Burnblaze

@Playboyize
Posting in future court evidence thread
Op, I mailed that certain deadly powder and certain device that go 'boom' to your enemies for you as you ordered. Allah be praised, your service to ISIL is great.

Stupidasole
Stupidasole

@New_Cliche
@TechHater
@Bidwell
unironically believing in spooks

Spazyfool
Spazyfool

@Stupidasole
what's a spook?

Nude_Bikergirl
Nude_Bikergirl

@Bidwell
@TechHater
@New_Cliche
having morals
current year

Sir_Gallonhead
Sir_Gallonhead

@Nude_Bikergirl
pretending to be a badass to impress randoms on the internet
thinking that this will enhance your profits

Pathetic

Firespawn
Firespawn

Assume I'm a NEET and I spend my days stalking board members of a public companies and with the aid of a directional microphone I occasionally overhear private conversations about that company with its management and I use that information to personally trade that company's stock.

Would that be considered insider trading?

Fuzzy_Logic
Fuzzy_Logic

INSIDER TRADING?

ZeroReborn
ZeroReborn

@TechHater
Tell me what's morally unethical about it? All competition is unfair to the person that gets out-competed.

eGremlin
eGremlin

@Firespawn
U should use a laser microphone and aim it at their meeting rooms.

PackManBrainlure
PackManBrainlure

OP you can do it one time, but if you start doing it frequently they will catch you.

You're literally risking jail time for cash kek

Burnblaze
Burnblaze

@PackManBrainlure
You're literally risking jail time for cash kek
Oh wow noone's ever done that before

TechHater
TechHater

@Spazyfool
A person of color... Dark color.

Evilember
Evilember

how do they actually determine and discover that you have indeed been "insider trading"?

Playboyize
Playboyize

@Playboyize
Would that be considered insider trading?
yes

But when people talk about insider trading, what they really mean is under the table deals where millions or billions of dollars are being used.

You trading relatively tiny amounts of stock wouldn't be suspicious in the slightest, and you may as well take advantage of the opportunity.

I'm a lawyer and whenever I get an inside scoop on companies that I'm operating for, I trade them and make a nice chunk of change from doing so.

Call it immoral or whatever you want, but bottom line is that you're a sucker if you don't take advantage of the opportunities that present themselves to you.

VisualMaster
VisualMaster

@Evilember

Lots of research, which could take years to do.

JunkTop
JunkTop

@Fuzzy_Logic
LOL

Evilember
Evilember

@Playboyize
Be smart and short or long the trade.

Emberfire
Emberfire

@Playboyize
If you invest in it, have evidence that you actually did fundamental analysis of the company. If its fundamentals are lackluster, just say you admire your boss's leadership and have confidence he has the ability to revamp the firm

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