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Posts Tagged ‘insider trading’

Insider Trading at the SEC??

Posted by Larry Doyle on March 5th, 2014 4:07 AM |

The abbreviated definition of insider trading is “the buying or selling of a security by someone who has access to material, nonpublic information about the security.”

Who could possibly be more “inside” than an individual who is in the position to take action against a company, that is employees of the Securities and Exchange Commission?

In another edition of “You Can Not Make This Stuff Up,” a recent paper highlights how employees at the SEC are superb in terms of their stock trading and specifically their stock selling skills. Let’s navigate. (more…)

Judge Rakoff: Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis?

Posted by Larry Doyle on November 14th, 2013 11:15 AM |

It is not often that I have had the pleasure of reading and reviewing two Sense on Cents instant classics in the course of just a few days but today I am excited to bring you another absolute MUST READ.

None other than Judge Jed Rakoff, who has heard many of the major financial suits brought over the course of the last few years, spoke the other day to the New York City Bar Association regarding the question so many in our nation still ask, “Why have no high level executives been prosecuted in connection with the financial crisis?

In what might have been a fabulous foreword to my upcoming book, Rakoff skillfully delivers what I believe is an incredibly excoriating indictment of those within the Department of Justice,the SEC, and elsewhere. (more…)

Uncle Sam’s Inside Info and Wall Street’s Insider Trading: Excuse Me While I Vomit

Posted by Larry Doyle on June 11th, 2013 10:23 AM |

Information is everything.

You may not be aware whether you own stock in the managed health care company Humana via a mutual fund or not. I would imagine if you own Humana as an individual holding, you would be keenly aware that this company saw close to a 20% increase in its stock price back on April 2nd.

Did you participate in that spike or did you have a sell order in place at a certain level and get taken out well below the upward move? (more…)

Wall Street-Washington Incest and Insider Trading

Posted by Larry Doyle on November 13th, 2011 9:39 PM |

I have written about the incestuous nature of the relationship between those on Wall Street and their cronies in Washington for the last three years.

The stench of this incest is overpowering but is hopefully now becoming more public.

How uncanny that a few days ago I received the following message from a regular reader asking my opinion on the following:


Think back to 2008/2009, with market moving events unfolding due to government action, some times over a weekend.   (more…)

What Was David Sokol Thinking?

Posted by Larry Doyle on March 31st, 2011 10:53 AM |

When an executive is in a position of recommending takeovers to perhaps the most legendary business executive on the planet, what is he doing purchasing a sizable position in that stock a week before making that recommendation? Are Americans still supposed to believe the manner in which markets operate and corporate takeovers occur are fully on the up and up? Stop it.

David Sokol can attempt to explain away his personal trading of Lubrizol stock during the month of December but his purchase of close to 100,000 shares (a dollar commitment of more than $9 million) in early January and less than ten days before broaching the topic to Warren Buffet that Berkshire Hathaway purchase the company SMELLS. (more…)

ARS ‘Penalty Does Not Fit the Crime’ or Why I Am Becoming a Libertarian

Posted by Larry Doyle on February 9th, 2011 7:38 AM |

Why is it that so many people in our nation do not trust our government, our media, and our banking system?

In my opinion, America continues to look and search for people and programs that truly represent their interests. In the course of a conversation yesterday with a former colleague, he spoke cogently as to why he is moving toward being a libertarian and why he believes so many others are as well. I found myself agreeing with him on so many fronts.   (more…)

POGO: “Reports the SEC Doesn’t Want You to See”

Posted by Larry Doyle on January 24th, 2011 10:52 PM |

The Project on Government Oversight has become the financial regulatory eyes and ears for our nation. While one would think Congress might care to thoroughly investigate government agencies and hold them to account, our recent history has shown us that the Congressional oversight is severely lacking. Enter POGO. What has POGO provided us now?

By utilizing the Freedom of Information Act, POGO has provided a huge window of transparency into the SEC. Why should POGO have to perform these acts? Where is the Congressional oversight? Heck, where is the SEC chair Mary Schapiro?

I strongly encourage readers to save this commentary as POGO provides links to a wealth of amazing stories and investigations. THANK YOU POGO for performing a national public service in opening the windows into the SEC. (more…)

Connecting the Dots: The US Attorney, the SEC, Art Samberg, Pequot Capital, Hush Money, Lying, and More

Posted by Larry Doyle on December 27th, 2010 12:22 PM |

This commentary and attached story are a little lengthy but very important. I hope you will take the time to read, review, and share. LD

Is it possible that our nation can experience a historic demise in our economy and markets with little if any criminal activity involved in that process? Was our economic and market meltdown largely ‘a perfect storm’?

I do not buy those who would put forth that line of reasoning. Nor do I think should you.

Does it defy logic to think that our nation has been hit with trillions of dollars in losses and untold economic pain but only a relative handful of individuals were involved in criminal behaviors connected to this turmoil? Yes, that does defy logic.

Where are the criminal prosecutions? (more…)

Gaining the Edge

Posted by Larry Doyle on December 17th, 2010 7:20 AM |

What competitive individual worth his salt does not want to ‘gain the edge’? Have you ever come across successful individuals–success being a very relative term–who did not want to ‘gain an edge’ and then widen the gap with the competition? I haven’t.

I had fully intended on writing this morning about the ongoing developments in the insider trading scandal sweeping across Wall Street. ‘Gaining the edge’ is very much the common thread that runs through this story. The lengths to which selected individuals would go to ‘gain that edge’ make for interesting reading. The wearing of wiretaps by informants adds to the intrigue. Where will the story lead? Which hedge funds may be implicated? What ‘masters of the universe’ may fall while pursuing their untold riches and accompanying success?

Then I thought, why would I want to take readers into this seamy world and give attention to those who may break the rules to ‘gain that edge.’ I don’t. At least not today. (more…)

This Is Not “Blue Horseshoe Loves Anacott Steel”

Posted by Larry Doyle on November 24th, 2010 7:50 AM |

Insider trading activity on Wall Street has often been connected to the above line shared by Gordon Gekko with his protege Bud Fox in the movie Wall Street (1987).

Is the insider trading probe currently occurring on Wall Street and entangling a number of firms within hedge fund and mutual fund circles just another case of those on the inside benefiting at the expense of America as a whole? Or is this investigation unfairly maligning those who view themselves as merely being industrious in unearthing corporate information? Rest assured, this posture will clearly be put forth as a defense by many implicated in this ongoing probe. (more…)

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