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by vkou
2995 days ago
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The problem with insider trading is that it creates perverse incentives. It, in itself, does not necessarily defraud. If I work for Apple, and I sneak a glance at their balance sheet, and short its stock, I did not rob APPL shareholders. It's still illegal, and insider trading (Because otherwise, I'd have an incentive to actively sink the company, while benefiting from a short.) |
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