Rajaratnam’s defense, which cost him as much as forty million dollars, according to the Wall Street Journal, was based on the argument that there was too much information available in the marketplace for anything to be considered a secret. Moreover, Rajaratnam had too much information at his disposal for any single item to account for a given trade. Insider trading is defined as the transmission of “material, nonpublic information” in breach of a duty and for some benefit. The defense came close to arguing that, in the age of hedge funds and electronic communications, everything is public and nothing can be proved material—that insider trading cannot exist. This view was most cogently expressed by Professor Gregg Jarrell, a professional expert witness and an economist at the University of Rochester, who came out of the University of Chicago’s free-market school of thought.
Info goes galt. From George Packer's New Yorker piece on insider trading.
11 comments:
Them dudes is crazy. Imagine Peter Boettke's huge mouth coming toward you at the econ faculty tea, dying to discuss "Austrian" economics.
Also, Virgil Storr: Rasta no pickpocket.
And there were, what, three women pictured, & maybe two un-pictured women, going by names?
People sure do talk funny 'though.
Note Caplan's areas:
Public economics, public choice, psychology and economics, economics of the family
This is the guy who wants to clone himself and says women were more free in 1880. As for the psychology and economics...
Austrian Economic Death Machine.
~
GMU don't seem to have made much progress with their internal investigation of Wegman's serial-plagiarism / evidence-distortion publication mill.
Has anyone else studied Austrian Economics and tried to take over the world?
No, but I am part German...and I do worry what I might do if this art thing doesnt work out.
That is the best collection of white dudes I have ever seen. Almost no contamination.
Please call Stella. Ask her to bring these things with her from the store:
A loaf of bread, a container of milk, and a stick of butter.
Very cool site.
Ken Lum is a rip-off artist.
Also crazy cranks.
Not a GMU crank, but crazy nonetheless:
Rajaratnam’s defense, which cost him as much as forty million dollars, according to the Wall Street Journal, was based on the argument that there was too much information available in the marketplace for anything to be considered a secret. Moreover, Rajaratnam had too much information at his disposal for any single item to account for a given trade. Insider trading is defined as the transmission of “material, nonpublic information” in breach of a duty and for some benefit. The defense came close to arguing that, in the age of hedge funds and electronic communications, everything is public and nothing can be proved material—that insider trading cannot exist. This view was most cogently expressed by Professor Gregg Jarrell, a professional expert witness and an economist at the University of Rochester, who came out of the University of Chicago’s free-market school of thought.
Info goes galt. From George Packer's New Yorker piece on insider trading.
So...in order to take advantage of this "faux insider" information I'd have to watch every company all the time. Which we can totally do!
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