Posted on 06/03/2014 7:26:16 AM PDT by SeekAndFind
By now most are familiar with the allegations involving championship golfer Phil Mickelson. Supposedly using information passed on to him by Las Vegas bettor William Walters, Mickelson allegedly completed stock-market trades that were informed by tips given to Walters by billionaire investor Carl Icahn.
Mickelson has denied any wrongdoing in the confused legal sense of "insider trading," but assuming he's committed capital based on privileged information provided by Icahn, readers should cheer his actions. To be blunt, to the extent that Mickelson traded on information that originated with Icahn, he's a hero for having so done so.
That's the case because when we go beyond the immature droolings of pundits, politicians and journalists who learned about finance from Oliver Stone's Wall Street and James Stewart's Den of Thieves, we live in a world of limited capital. Capital invested in one concept is tautologically capital that cannot be invested elsewhere.
Because the above is true, it's essential that capital reach the best, most growth-enhancing ideas as quickly as possible. Absent the latter, capital is by definition under-utilized or destroyed to the economic detriment of us all.
[SNIP]
Applied to Mickelson, assuming the allegations about his trading history are true, the fact that he may have utilized Icahn's expertise means that he provided the marketplace with essential information. Icahn is a genius, and while there are vague laws concerning "insider trading," Mickelson's presumed trades brought precious information to the marketplace. What should bother readers are not the allegations concerning Mickelson, but instead insider trading laws that in the words of George Gilder blind the marketplace. How odd that we have laws that are explicit in their intent to deprive the marketplace of information that allegedly came from one of the world's greatest investors.
(Excerpt) Read more at realclearmarkets.com ...
No. If he did. it’s a crime. Next.
Good point.
Nobody is safe from this regime.
“Given the degree of separation between Michelson and Icahn (Walters), I view this as political payback for Michelson’s disparaging remarks about California’s excessive taxation.”
You beat me to it. I wholeheartedly agree. This is how communists do things.
Insider trading laws exist to prevent smaller investors from getting ahead of the real insiders.
Yet insider trading is perfectly legal for members of Congress. Because they are so special.
Nothing but a bunch of gawdamn thieves. The whole lot.
Icahn is not an insider, how is it a crime?
Insider Trading? I thought that was known as business as usual in the Congress and Senate.
NWO can’t have wealthy individuals breaking ranks.
If you’re wealthy, you’re supposed to turn over your capital to Wall Street (nwo) to manage. And then get neck-deep into using all the tax avoidance schemes they’ve set up to keep your own taxes low. These schemes funnel money into nwo programs and products and services sold by nwo in furtherance of those schemes. And, once you’ve “pushed the envelope” tax-wise, the IRS can always be used to hammer you. So you become, in essence, a wealthy court eunuch. You can stay fat and happy as long as you are completely working for nwo.
And then either shut your yap, or if you do speak, speak only in support of nwo’s agendas.
Since he dared say something about high taxes, and he’s a public figure, he’ll be targeted to set an example for other wealthy public figures who might think about speaking out.
If Phil comes out and supports state indoctrination “schools”, drugs, sodomy, etc., nwo might accept that as “pennance”.
Phil should invest in “the sheeple”, the “little people”. They don’t have the agenda of wanting to “own” their investors. He would just have to have his people do good legwork on investments. If the wealthy always made direct investments instead of having Wall Street manage their investments, it would help both the wealthy AND the sheeple.
Congress is exempt from insider trading laws. If Phil wants to do it, he should run for office.
This beyond stupid.
The word hero gets tossed around a lot. This might be the furthest it has ever been tossed.
I hope he stays smart and keeps his mouth shut. The FBI is harassing him by showing up at tournaments. When the Feds are after you, they will nail you on the slightest technicality, and I do believe this is payback.
Toddster! Haven’t seen your obvious trolls in months!
He gives himself away as a shill for the crooks here. Capital invested in a certain "concept" is in fact invested in a company, which spends it somewhere else, or in many places. The "initial" investment doesn't get spent once and then vanish.
Why should it be a crime?
Exactly.
He’s spot on. Did you ever study economics? Scarcity is a basic fact.
: a person recognized or accepted as a member of a group, category, or organization: as
a: a person who is in a position of power or has access to confidential information
b: one (as an officer or director) who is in a position to have special knowledge of the affairs of or to influence the decisions of a company
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