Hacker News
Wall Street lawyers aided insider trading ring, say US prosecutors
40 points by johnbarron
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4 comments
clearstack
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What strikes me about M&A tip rings is the risk/reward math. The people accepting tips get limited upside — edge on a single trade — but career-ending felony exposure as the downside.
The SEC's EDGAR makes an enormous amount of material information freely available: 10-Ks, 8-Ks, proxy statements, insider ownership filings. Investors who systematically work through that public record can build durable informational advantages. The MNPI game is a strictly worse deal on expected value.
p0w3n3d
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I think that this obvious insider trading was made by pawns, and the king is hidden somewhere