Episode 248: You Can’t Do This – Part 2

by producer on April 23, 2014

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In Episode 248, your host Rob Booker reads about insider trading in the New York Times pertaining to a U.S. attorney in Manhattan who has 80 convictions without a single defeat. Rob wonders if there’s a different way to remove the incentive from the greediness of insider trading. And Rob asks the listeners if they trade solely for the money or if trading just a game. Rob also wonders what the true incentive is for superior performance over time. All these questions make Rob wonder about the next financial apocalypse. And Rob wraps up by spending more time talking about why you can’t trade for a living. Does Rob have a method to his madness or just madness? Keep listening and find out!

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{ 2 comments… read them below or add one }

FxCave April 23, 2014 at 6:42 pm

In the comments of episode 246, I rip-up Warren Buffett as one of the most notorious insider traders ever. He depends on insider information that the public isn’t privy to which is a crime for publically traded stocks. This is too prevalent at the bloated upper end of our markets where these big rollers puppeteers live. five years ago I was trading equities and got knocked down, a little bit, by what I thought was unpredictable news in Nov 2008. Someone was profiting, so why did they if the info was such a surprise? It was probably just a surprise to me. So I tried to be like the quick draw trader, but then my broker had to send me a warning not to day trade. I was furious and to beat that my account wasn’t set up for shorting.
I decided I was going to learn all I could about Forex. Wow! It’s the biggest market in the world and there is no such thing as insider trading in Forex! No one person, not Warren Buffett , and not even George Soros, can make it move very far for very long. 5.3450 years later, I’m happy to still be learning how to trade it.

aka Cavex

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Brian Fortin April 24, 2014 at 11:55 am

Any US Attorney with 80 convictions and no defeats is just taking easy ground balls and positioning himself himself for a political run. Can you really protect the public without taking any of the hard prosecutions? I’d say that approach to law enforcement ensures the rich and powerful go unpunished and are emboldened to run wild.

Lucky for us that will never happen…..

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