Corporate execs appear to have a handy way to make a lot of money for themselves—buying and selling stocks of rival companies. ProPublica conducted a first-of-its kind analysis of such trades and discovered that lots of executives have an uncanny knack for making profitable trades with what it calls “exquisite” timing. For example, “a paper-industry executive made a 37% return in less than a week by buying shares of a competitor just before it was acquired by another company.” The story also details the case of a pharma exec in Ohio who sold his shares in a rival one day before a management shakeup caused the stock price to plummet. He quickly rebought them at a low price and saw his stake rise 75% over the next year. Then he sold them days before word got out about a pending SEC investigation into his rival, thus avoiding a massive loss.
The examples abound, but is any of this illegal? That’s where things get squishy, write Robert Faturechi and Ellis Simani. Insider-trading laws prohibit execs and staffers from trading in the stock of their own companies using information unavailable to other investors. If the execs in the ProPublica story made trades about other companies based on nonpublic information, that could also violate such laws. But making that case would be tricky.
Peanuts!
I can beat those results.
-Nanny Pelosi (Vodkaphile)
Just watched Tucker (and a little more of something else that was too funny, just whistle while you work fun for later)
Did you see Kevin O’Leary, that arsonist of other people money? If not, catch the replay and look for this tell
O’Leary wants all your money and said so
As he is talking, watch Tucker’s Face
Catch the grin that pops at certain times
He saw through O’Learys Charade and you can see his comprehension dawning.
Great Show. More to come now about other stuffs like Whistlers with a Whistle. Legendary.
They should see what I can do with cattle futures.
“IT’S A BIG CLUB AND YOU AIN’T IN IT”
– GEORGE CARLIN
What we need now are people who are above this type of behavior. People who have a strong moral foundation and the bravery to take on corruption of this magnitude. People who we can count on to do the right thing and that will suffer the onslaught of the media and come out ahead – for us.
Thankfully we have the Biden regime to get this done. Of course if they’re too busy, and member of Congress will do.
There is a new ETF with the label SJIM, which tracks Jim Cramer’s recommendations and shorts them. It’s up a couple percent since its inception at the beginning of March.
There is also LJIM, which is ‘long’ Jim Cramer recommendations, and of course is down a couple percent. Will be interesting to see how they do in the longer term.
DANCO,
BEST NAME EVER on IOTW!
Cracks me up every time, esp. the “AND CHILDREN’S TOYS
ETF SJIM
I found it.
Is it real of just a Metric to track the Crack Head Bastardo?