Author Topic: Mark Cuban charged with Insider Trading?  (Read 6601 times)

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Re: Mark Cuban charged with Insider Trading?
« Reply #15 on: November 17, 2008, 04:43:58 PM »

Offline EatSleepBreatheGreen

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Which is exactly why the rule is in place.

Well it needs to be re-evaluated or something.

I just dont agree with that whole, sorry ur stocks are dropping and u cant sell them legally until they're down already. How my fellow Mass people would say "GIT THE ****** OUTTAA HEAAAA!!!"


« Last Edit: November 17, 2008, 04:57:34 PM by EatSleepBreatheGreen »

Re: Mark Cuban charged with Insider Trading?
« Reply #16 on: November 17, 2008, 04:44:46 PM »

Online Donoghus

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If he is trading based on privileged information not available to the public, that gives him an emormous advantage from a trading standpoint.  No sympathy there.

Insider trading is, deservedly, illegal.  


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Re: Mark Cuban charged with Insider Trading?
« Reply #17 on: November 17, 2008, 04:57:46 PM »

Offline ChampKind

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Im sorry, but this is dumb. If I was in his shoes and someone told me "pssst if u dont sell your shares your going to lose money" I would do it too. What am I supposed to do?, "okay thanks for the information, I guess that just sucks for me". I know its illegal(I dont agree with it), but come one. Thats like leaving a Clepto in a convenience store and saying "Hey look over my store for me, Im gonna be gone a couple of hours and by the way theres no cameras in here". So if some info is private and shouldnt be released to the public, whoever is the majority owner should be the only one to know(i know thats not possible). Im just saying, 9/10 would do the same and are lying if they said they wouldnt.

Yeah, but if you leave the klepto in charge of your store and he steals stuff, that's still illegal.  The onus is on him to not break the law - no doubt Cuban knew what the risks were with what he was doing.  He's a smart guy, he tried to burn the system and he got caught.  Give him his punishment and hope that he learns from it.
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Re: Mark Cuban charged with Insider Trading?
« Reply #18 on: November 17, 2008, 05:06:32 PM »

Offline EatSleepBreatheGreen

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Yeah, but if you leave the klepto in charge of your store and he steals stuff, that's still illegal.  The onus is on him to not break the law - no doubt Cuban knew what the risks were with what he was doing.  He's a smart guy, he tried to burn the system and he got caught.  Give him his punishment and hope that he learns from it.

Ok let me elaborate. I know it is illegal. The way that the information is given to him or someone in his position is wrong. What I was trying to say is yes he is breaking the law, but you(or whoever is in charge of such info) is the idiot for telling him. The Klepto analogy was an example. Yes the store owner is trusting him, but he cannot be that [dang] smart to risk that. I agree Cuban should pay what he "saved" not stole, and do jail time just like Martha. Because when he comes out, he does a couple of interviews yada yada, and "boom"(lol my madden impression) not only was he making money while incarcerated, but he probably recoups what he lost x2.

My view is, I agree with what he was thinking because who honestly is just going to take a loss and be like okay. Everyone can say otherwise but, everyone would try or at least THINK of doing the same. Oh and lets not forget the richest people didnt get rich by spending and investing and bla bla bla. They got rich by being CHEAP. Thats why you see millionaires that still wear Walmart sweaters and stuff. So basically sucks for him but I understand what he was thinking.

Re: Mark Cuban charged with Insider Trading?
« Reply #19 on: November 17, 2008, 05:13:39 PM »

Online Amonkey

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Quote
Ok let me elaborate. I know it is illegal. The way that the information is given to him or someone in his position is wrong. What I was trying to say is yes he is breaking the law, but you(or whoever is in charge of such info) is the idiot for telling him. The Klepto analogy was an example. Yes the store owner is trusting him, but he cannot be that [dang] smart to risk that. I agree Cuban should pay what he "saved" not stole, and do jail time just like Martha. Because when he comes out, he does a couple of interviews yada yada, and "boom"(lol my madden impression) not only was he making money while incarcerated, but he probably recoups what he lost x2.

My view is, I agree with what he was thinking because who honestly is just going to take a loss and be like okay. Everyone can say otherwise but, everyone would try or at least THINK of doing the same. Oh and lets not forget the richest people didnt get rich by spending and investing and bla bla bla. They got rich by being CHEAP. Thats why you see millionaires that still wear Walmart sweaters and stuff. So basically sucks for him but I understand what he was thinking.

I completely agree with you and that rationale makes perfect sense for the average Joe.  However, when we're talking about billionaire/millionaire, then the effect of this situation is not only to the person.  I mean, greed is one of the biggest problem is corporate america and capitalism.  If it wasnt for greed, the economy wouldnt be where it's at, those Nikes shoes wouldnt be made in Asia and many wars would be eliminated or avoided.

So while I agree that the rules doesnt make a whole lot of comon sense for the average regular working Joe, there should be some kind of restraints to the wealthy and elite people out there that control 90% of the world.
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Re: Mark Cuban charged with Insider Trading?
« Reply #20 on: November 17, 2008, 05:34:54 PM »

Offline EatSleepBreatheGreen

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I completely agree with you and that rationale makes perfect sense for the average Joe.  However, when we're talking about billionaire/millionaire, then the effect of this situation is not only to the person.  I mean, greed is one of the biggest problem is corporate america and capitalism.  If it wasnt for greed, the economy wouldnt be where it's at, those Nikes shoes wouldnt be made in Asia and many wars would be eliminated or avoided.

So while I agree that the rules doesnt make a whole lot of comon sense for the average regular working Joe, there should be some kind of restraints to the wealthy and elite people out there that control 90% of the world.

hank you. That's all I was trying to do is relate to him. Since I dont have the $$$ that he does it's kind of hard to. And like I stated I agree with him going to jail, because if he doesnt what kind of example is that? Martha goes but he doesnt? What he did was wrong and affected alot of people. But the moral of the story is we're all still human. He made a mistake, but he was thinking "logically", not intelligently or rationally but it makes sense.

TP for you for understanding what I was trying to convey.

Re: Mark Cuban charged with Insider Trading?
« Reply #21 on: November 17, 2008, 05:57:48 PM »

Offline jackson_34

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So if I was in a situation where I was told the company i've invested in was about to lose it's value dramatically, what's the right thing to do? I'm curious as to what the correct procedure is in a situation like that. Surely there is another way other than to cop it on the chin?

Re: Mark Cuban charged with Insider Trading?
« Reply #22 on: November 17, 2008, 09:05:30 PM »

Offline nickagneta

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Yeah but the guys a billionaire. What's $750,000 to him. Hey if I place a bet at the horse race for $100(which might be about the right percentage here given the difference of Cuban's net worth versus my net worth) and then I find out through a firend of a friend before the race that the fix is in and I'm going to lose, I'm not about to do something illegal to stop my bet from going through. I chalk it up to bad luck and that sometimes in gambling, you lose.

But Cuban tried to do something illegal to save himself that, proportionally speaking, $100. That to me is greed and stupidity being mixed into one and if he does time he deserves it because lord knows if I then tried to rob that racetrack of my $100, I'd be sent to jail. 

Re: Mark Cuban charged with Insider Trading?
« Reply #23 on: November 18, 2008, 07:27:47 PM »

Offline PSquared

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So if I was in a situation where I was told the company i've invested in was about to lose it's value dramatically, what's the right thing to do? I'm curious as to what the correct procedure is in a situation like that. Surely there is another way other than to cop it on the chin?

I guess you just got your answer : THERE IS NO WAY!

(mainly since no one has posted since yesterday)

I, personally, think this rule is a load of horsecrap mainly 'cause it is too BROAD and not specific as to what constitutes actual "insider trading"(the circumstances, etc).