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To: wizzler
But what makes you think that commodity -- or ANY commodity -- should be "available to all"?

If you're asking me for some of my property (money) as an investment to improve your property (the company) with the intent that my property will be converted into a share of your property, but you secretly know that your property is about to lose its value and you don't tell me, but you do tell others who have previously invested to get out while still telling me to get in, then you are dealining in insider trading, which is also fraud (a fraud of omission to the outsiders).

The fact that some people in some situations have some information that some other people don't have -- that does nothing to erode anyone's "trust" in the market.

The "information" is your intent to take certain actions, or your knowledge of someone else's intent to take actions, or actions already taken but unknown to most, not a rumor heard on the street.

-PJ

76 posted on 06/04/2003 6:00:52 PM PDT by Political Junkie Too (It's not safe yet to vote Democrat.)
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To: Political Junkie Too
But nobody ever knows that a property is about to lose value. NOBODY. Everyone involved in the market makes educated guesses and hopes for the best. Some guesses are more "educated" than others. Your lack of information in the securities market is no more my burden than your (hypothetical, of course) lack of good looks in the mating market.
78 posted on 06/04/2003 6:09:39 PM PDT by wizzler
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