Looks like Trump's been a-tradin' a lot!
Reminds me of a story...
Years ago, I worked at a big financial company and we were told NOT to trade stocks without we got permission. This was dumb because being in tech, I had no insider information. We had to declare our accounts and I declared mine. By mistake I made a trade one day and they caught it and I was reprimanded. So every time I wanted to buy/sell, I had to get "permission" by faxing in a form. Yes this was a long time ago (2007).
I got fed up and I started trading from my wife's account. If the C levels made zillions, I could make a few thousands myself without their dumb rules encroaching. I wasn't making illegal money anyway. Until they sent out a company wide email that they would crack down on people trading without permission. That scared me so I sold everything right away.
What luck that turned out to be, that market tanked about 10 days after I sold everything because of the financial crash due to the "Great Recession" of 2007. Just pure luck.
So my whole point is, why are everyday poors (like me in 2007) prevented from trading to get ahead even when there are is no insider information, but the top management can and even the President of the country can when they are market makers?
The laws need to change. The richer and powerful get away with a lot by just changing the rules to suit themselves.
Trump's More Than 3,700 Trades Astonish Wall Street Insiders
https://finance.yahoo.com/markets/stocks/articles/trump-traded-nvidia-boeing-intel-030913697.html
Reminds me of a story...
Years ago, I worked at a big financial company and we were told NOT to trade stocks without we got permission. This was dumb because being in tech, I had no insider information. We had to declare our accounts and I declared mine. By mistake I made a trade one day and they caught it and I was reprimanded. So every time I wanted to buy/sell, I had to get "permission" by faxing in a form. Yes this was a long time ago (2007).
I got fed up and I started trading from my wife's account. If the C levels made zillions, I could make a few thousands myself without their dumb rules encroaching. I wasn't making illegal money anyway. Until they sent out a company wide email that they would crack down on people trading without permission. That scared me so I sold everything right away.
What luck that turned out to be, that market tanked about 10 days after I sold everything because of the financial crash due to the "Great Recession" of 2007. Just pure luck.
So my whole point is, why are everyday poors (like me in 2007) prevented from trading to get ahead even when there are is no insider information, but the top management can and even the President of the country can when they are market makers?
The laws need to change. The richer and powerful get away with a lot by just changing the rules to suit themselves.
Trump's More Than 3,700 Trades Astonish Wall Street Insiders
https://finance.yahoo.com/markets/stocks/articles/trump-traded-nvidia-boeing-intel-030913697.html
Quote:
(Bloomberg) -- President Donald Trump's latest financial disclosures show that he or his investment advisers made more than 3,700 trades in the first quarter, a flurry totaling tens of millions of dollars and involving major companies that have dealings with his administration.
Quote:
The transactions, spelled out in more than 100 pages of documents filed Thursday with the US Office of Government Ethics, list purchases and sales in broad ranges, making it hard to calculate an exact value. But the volume of trading more than 40 per day over a three-month period stands out as much as the potential dollar value.
"This is an insane amount of trades," said Matthew Tuttle, chief executive officer of Tuttle Capital Management, in an interview, adding that it looks more like something done by "a hedge fund with massive algo trades" that buys and shorts securities than a personal account.
In the first quarter, the president bought at least $1 million each in companies including Nvidia Corp., Oracle Corp., Microsoft Corp., Boeing Co. and Costco Wholesale Corp., according to the documents. Other trades involved eBay Inc., Abbott Laboratories, Uber Technologies Inc., AT&T Inc. and discount store Dollar Tree Inc.
Exposing Hypocrisy - one CEO at a time