Re: I Think I Have A Partial Answer
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Most of you, including Jason Stausser are wrong. I'd make a small bet on it. Just using pure thought.
When I saw a long line at the newly installed Monopoly machines I immediately bought Williams. And I screwed the seller. Except that he should have realized that someone might have been doing that to him. It is a legitimate part of the game. And as unpalatable as it might sound, the same is true if I overhear two terrorists on their way to bomb the Bellagio (especially if I report them first). The possibility that something along those lines is going on should be part of your calculations. Unless you are DesertCat. It is ridiculous to have laws that expect people to refrain from stuff like that.
The only time the answer is unclear, I would think, is if the information is specifically related to undisclosed aspects of a business that is only privy to insiders. That is why I would think the executive who sells a competitor's stock short when he can't buy his own, is likely breaking the law. As far as someone overhearing executives and then trading on it, my take would be that he gets off but that the executives reimburse those who lost money due to their carelessness.
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holy cow david lol... this is almost as funny as the time you approached me in the Rio saying "hahah you are that idiot who insults me online" when you were with that black escort (for which it is fun to tease you for).
This is obviously NOT insider information. Anyone CAN go to a casino and see a line of people.... There is absolutely nothing illegal or insider about this. This is just called doing your homework.... Hearing a CEO whisper on the phone about great earnings then using that to make a trade, or hearing information about a terrorist attack and then shorting the building they are about to blow up is obviously insider trading.... This example is like saying "everyone loves this one biotech drug but I got my hands at it at the store over the counter and I am certain that this drug is a piece of [censored] so I sell it".... Also, just because you saw a long line of people doesnt mean that the stock is going to go up, but that is just an aside.
love you still,
Jason
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