How many people are in the know?
 

So the Labor Department releases a report today that Jobs are good, how many people in the Labor Department were aware of this report? How hard is it for a hedge fund or other powerful people to find out the results of these reports before they are released to the public?

If you know about these reports before they happen, you can just DESTROY the markets?

So what is the deal?

Re: How many people are in the know?
 

It is impossible. The reporters are locked in an hour before the report comes out, no cells phones, computers. When the report comes out they have 30 minutes to read and write their release. Everyone sends the transmission at the same time.

It would probably be to easy to track someone who had prior news too.

Re: How many people are in the know?
 

There have been a few incidences in Canada where it was clear people knew about government decisions before they were announced to the general public. There have even been cases of politicians being caught tipping off friends. Overall though this is pretty minimal. If it was rampant it would be very easy to detect.

Re: How many people are in the know?
 

"It would probably be to easy to track someone who had prior news too."

How? People bet on both sides good or bad every time right? All they would have to do is not bet on the right side every time just like someone cheating at poker throws some hands.
And I wasn't talking about reporters but the people who gather and make the actual reports.

Re: How many people are in the know?
 

[ QUOTE ]
If you know about these reports before they happen, you can just DESTROY the markets?

[/ QUOTE ]
I mean, haven't you seen Trading Places? [img]/images/graemlins/smile.gif[/img]

Re: How many people are in the know?
 

BEEEEEEEKS