Finally, the financial journalism community (yes, it’s a community) offers us something more than meaningless commentary. David Weidner, who we love, gets service-y today over at MarketWatch with a nifty how-to guide, re: insider trading. We’ll get right down to it:
Things that work:
+ Be within earshot of the mergers and acquisitions department at your local Wall Street bank
+ Keep it simple; it’s when you start to get too intricate and show-off-y that people get suspicious
+ When emailing conspirators about the insider trading you’re doing together, speak in code, but not in tongue. Say things like "Let the fun begin,” and not “ǂʼaama nǃei zhu”
+ Stay modest: pull a fast one on the Securities and Exchange Commission 10, maybe 20 times. 9 times is too few (we’re in this to make money, not friends), 25 is too many.
Things that don’t work:
+ Allowing your trade calls to be recorded on your employer's log.
+ Doing it with your wife
+ Recruiting conspirators at Turkish bathhouses
+ Laying out plans in Grand Central Terminal
The insider's path to beating the market [MarketWatch]
Posted by , May 31, 2007 12:22PM
heh.
Posted by banker , May 31, 2007 12:28PM
Grand Central Terminal.
Posted by , May 31, 2007 12:30PM
nerdy trainspotter alert
Posted by banker , May 31, 2007 12:39PM
Not an anorak, just a detail-oriented chap.
Posted by Bruce , Jun 01, 2007 12:08PM
For heaven's sake do not forget about the all-time leader in the "Thing That Don't Work" category: Trading on advance copies of Business Week.
http://slw.issproxy.com/2006/04/business_week_the_next_frontie.html