Free Republic

More absurdity from the SEC this week. The Wall Street Journal Reports they are now investigating what are known as Expert Networks. These are private consulting firms that specialize in providing information and expertise on particular industries and companies. Hedge funds and mutual funds hire them to get an investment edge. The Journal highlights a company that is being probed by the SEC, which does "channel checks" with manufacturers of technology equipment for bigger companies. That kind of research gives insight into strength of order flow and can provide clues as to the direction of the industry. (Often times, they...