This is a real risk imo. We've been stonewalled by Apex. Questionable level of public oversight, given their market prominence. ๐ญ
Re: Discord Community Developments & Our Nonprofit Growth
It's been a very active week as many of us turn to WhyDRS with increasing fervor. ๐ค From what I've seen, that means more time, effort, and thought put into our next steps. There's a long road ahead, as we've all discovered these past few years imo. Incredible to think how much we can all accomplish together. ๐ค
I'm trying out this new format as a way to efficiently respond to interesting recent thoughts. Let me know what you think per attempts to streamline involvement. ๐ฌ It seems I've been missing material discussions with my existing approach of some quick time each week to glance over main insights.
This kind of work is a(n unpaid) full time job. I dont expect anyone to stay up on all of it all the time unless theyโre deeply entrenched in the day to day. โ [wtfeweguys](https://discord.com/ch
Very interesting, nuanced topic. ๐ง
E.g. many of main challenges (e.g. malaria) have material existing billionaire support (Gates). ๐
Liked this study from referenced charity - the findings will be interesting by the end of the decade. ๐
Michael Kimelman was a professional trader working on the Street in the 2000s. He was inspired to write a book by the trauma of having an FBI team swarm his house and family in the middle of the night (he was charged with insider trading after a $16,000 profit off a merger). He writes:
"there is no clear definition of what โinsider tradingโ actually is... No statute spells it out. No law book provides a comprehensive accounting of its parameters. (When it came to my case, even the judge got confused.)" Additionally, Kimelman saw unusual volume in short-term far OTM puts shortely before Bear Sterns collapsed. He wrote: "I kept asking myself the same questions. Who bought the Bear Stearns puts? Who made hundreds of millions of dollars while Bear collapsed? Was it Goldman? If not them โฆ who?... The press release didnโt tell you that Hank Paulson had given JPM the weekend to come up with a deal, but was quite prepared to write Bearโs obituary otherwise. Someone knew, though. And from the prints left on the corpse, it was more than one person or firm. The only thing better than having friends in high places, is having friends in the highest places. It was beginning to look like a whole lot of people did."
Since impactful insider information is based on big news, most of the egregious offenses can really hurt a select few investors writing what would otherwise be reasonable options contracts. In the Bear case, writing a $10 put expiring in a week on a $50 stock seems reasonable. But a few key insiders had priveleged information that made the decision worthy of liquidation (and very difficult to privately litigate without access to SEC trader surveillance data).
Community Discussion: Preventing Insider Trading ๐ซ๐
I wrote this post in an airport lounge, where Iโm leeching off the buffet for 10 hours before my flight. Might not be as fun as exploring LA, but it saves a few bucks to go towards rent. ๐
Whether we like it or not, the government knows a lot about us. They know when and where you fly. ๐ฉ๏ธ They theoretically know how much you earn, the stability of that income, and where it comes from. ๐ผ They know what kind of car you drive, how many traffic tickets youโve racked up, and of course where you live (at least unless itโs in a separate entity). And thatโs not even mentioning Snowden.
This isnโt a post about government oversight, but the topic seems particularly relevant. More specifically, by the end of this post, youโll understand my nuanced view of