If he's a director and he knows something that isn't publicly disclosed about the company, and he's telling you to buy stock, isn't that insider trading?
You get very specialised, very focused funds, which ethics experts say are as effective as stocks or in some cases even more effective for insider trading.
" Insider trading" is when you take the information you have about your company and you buy and sell stocks, even though no one else knows that information.
And one of our colleagues, shortly after the indictment dropped, just G-chatted me saying I need to understand why you would commit insider trading in your eighties.
Yeah, Let me tell you, this is really different even for a legal correspondent who's seen his fair share of insider trader indictments in the last few months.
The US attorney for the Southern District of New York, Damien Williams accused 86-year-old Mr. Lewis, who is now based in the Bahamas of operating what he called a " brazen" insider trading scheme for years.
" Something big is brewing." Rick says, " If he's a director and he knows something that isn't publicly disclosed about the company, and he he's telling you to buy stock, isn't that insider trading? "