Uncle Al wrote:
John Schoenfeld wrote:
If someone was working on technology that would wipe out a
publically
traded competitor, is it illegal for that person to short sell or
buy
put options on the competitor company BEFORE that person
"publically"
exposes his technology? If it is, then what constitutes sufficient
"public exposure" to avoid SEC prosecution?
For example, if that person announced by posting on some newsgroup
at
8:00am (accessible by google in a matter of clicks) but then trades
the
competitors security at 8:01 am, does that sufficiently satisfy SEC
regulations?
[posted here as other newsgroups have proven useless]
Hey Schoenfeld, you would be prosecuted for fraud not illegal
profits,
thereby losing twice - once by your own hand. Fair is fair.
I would be interested in knowing your opinions as to why this would
constitute fraudulent behaviour (or illegal in any sense).
"working on technology" Ha ha ha! War on Cancer, cold fusion,
polywater, N-rays... HA HA HA!
It was purely a speculative question. I am not trying to build any of
those crackpot inventions, or any invention in general.
--
Uncle Al
http://www.mazepath.com/uncleal/
(Toxic URL! Unsafe for children and most mammals)
http://www.mazepath.com/uncleal/qz.pdf
.
