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/biz/ - Business & Finance

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2916701 No.2916701 [Reply] [Original]

An acquaintance of mine has told me something about a stock involving a "source". I don't know if he's fibbing or not, but in the past, he's tended to be right about his predictions.

If I follow his advice and buy into the stock, would it be considered insider trading? I don't want to do anything illegal.

>> No.2916710

yes

>> No.2916732

Yes but as far as regulations are going to go if you don't work in a professional environment dealing with stocks then you're good because who the he'll would know or check up on your activities

>> No.2916754

>>2916732
Because he posted about it on a taiwanese basket weaving forum

>> No.2916755

Depends on how possible it is to prove he
1. has the knowledge
2. passed it on to you
if he's a direct family member then it gets hairy but if you just know him from somewhere then no one can prove anything.

That's how rich people do stuff, they play golf and hang out at the club and who knows what hot tips they are swapping that turn out to become suspiciously wise investments

>> No.2916787

Well, now that you posted this, you're fucked if you make a move and they decide to investigate.
Good job.

>> No.2916860

>>2916732
Fair enough. I only recently got into stock trading and I don't work with any major companies. I think I'll wait things out either way, and if my friend is right, then good for him.
>>2916755
No, he's not a direct family member, but we've been invested in some of the same stocks before.
>>2916787
FBI pls go, I'm not in your jurisdiction.

>> No.2916890

>>2916755
>That's how rich people do stuff, they play golf and hang out at the club and who knows what hot tips they are swapping that turn out to become suspiciously wise investments
Isnt that how Wall Street ended, dude was wearing a wire on a golf course.

>> No.2916913

>>2916860
It would seem to me that the bigger risk is correctly interpreting this potentially correct information and the magnitude of that effect on the market value. Best of luck!

>> No.2916943
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2916943

>warren buffett constantly gives advice about muh long-term holds muh value
>liquidates half his position in fox
>next day it comes out that ceo has been fucking around, stock tumbles
>OP is worried about breaking the law when it's obvious to anyone with a brain that that's exactly what all extremely successful people do