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darkoz
darkoz
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January 29th, 2021 at 8:37:20 PM permalink
Quote: SOOPOO

If you are permitted.... what job does not allow individual stock ownership?



I'm going to Hazzard a guess he works in some fiduciary roll. Perhaps for a stock trading company or banking institution?

Something which fear of manipulation from the inside leaves them to place heavy restrictions.
For Whom the bus tolls; The bus tolls for thee
SOOPOO
SOOPOO
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January 30th, 2021 at 5:55:09 AM permalink
Quote: darkoz

I'm going to Hazzard a guess he works in some fiduciary roll. Perhaps for a stock trading company or banking institution?

Something which fear of manipulation from the inside leaves them to place heavy restrictions.



I have had inside information regarding medical condition of certain athletes that, at least in theory, could be used to make a wager on a game. Not wanting to ever see the inside of prison, my mouth was sealed shut, and I of course made no bets on those games.
It sounds like UnJon’s firm has the same idea.

But the way, I think those that work for ‘stock trading company’ DO invest in individual stocks! When one of them comes on CNBC they will list the stocks that the person owns in a ‘long position disclaimer’ or such.
DRich
DRich
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Thanks for this post from:
unJon
January 30th, 2021 at 9:19:02 AM permalink
I am guessing UnJon is CNBC personality Jim Cramer. I know Jim Cramer is not allowed to buy stocks.
Order from chaos
rsactuary
rsactuary
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January 30th, 2021 at 9:23:27 AM permalink
Quote: SOOPOO

If you are permitted.... what job does not allow individual stock ownership?



Just FYI, if you work for an accounting firm, as I do, you cannot own stock in any public company that the firm audits.
AxelWolf
AxelWolf
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January 31st, 2021 at 7:35:22 AM permalink
Quote: SOOPOO

I have had inside information regarding medical condition of certain athletes that, at least in theory, could be used to make a wager on a game. Not wanting to ever see the inside of prison, my mouth was sealed shut, and I of course made no bets on those games.

Unethical, yes, , but are there any specific laws against this that you know of? Did you pay any attention what would have happened had you made the bet you felt would have been good regarding their conditions?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
TDVegas
TDVegas
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January 31st, 2021 at 7:50:44 AM permalink
Quote: Wizard

I have a simple question. If a private individual shorts a stock and it goes up in value, is there some point where he is forced to cover the short? What is to prevent the short seller from simply never covering the short if the stock goes up in value? Can it happen that the short seller is forced to cover a losing short and he doesn't have the money?

All I know is that in Trading Places the Dukes were told to settle up their short positions at the end of the trading day.


If the stock keeps rising....I believe the brokerage will tell you to put up more capital (cash) into the account. Typically known as a margin call. If you don’t do that in a timely manner, they can close your short position.

Depending on the volatility...it is conceivable any short position can trigger a margin call.

I would assume it is possible that your cash might not cover a short position...but the brokerage will likely never let it get to a point where they could be on the hook for big losses. “Wire us the money today or we close the short” was probably said more than a few times this past week.
SOOPOO
SOOPOO
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January 31st, 2021 at 8:31:31 AM permalink
Quote: AxelWolf

Unethical, yes, , but are there any specific laws against this that you know of? Did you pay any attention what would have happened had you made the bet you felt would have been good regarding their conditions?



The one that I remember most vividly was of an NFL player that I personally took care of. He had a surgery that I thought would prevent him from playing the next Sunday. I got to chat with the guy a lot, he was super friendly and open about a bunch of things. I did not like him before I met him. Questionable persona. I became a big fan after. He at the time did say I could tell anyone that I met him and took care of him. So I did tell my son who is a big Bills fan.

This one instance he DID play the next Sunday, and played very well. Had I bet against ‘my information’ I would have lost.

There have been other examples of players that really just don’t move a line (linebacker, as an example) that were taken care of in my hospital but not by me directly. So (making this up... didn’t happen) if I knew that AJ Klein would be out but it wasn’t public knowledge yet, I think it would be wrong for me to bet against Bills even though it would not make the bet + EV.
By the way virtually all of my sports betting chatter is theoretical. All my sports bets are either on this site or with friends. My total sports betting for a year rarely will exceed $500.
MDawg
MDawg
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January 31st, 2021 at 8:38:41 AM permalink
That isn't necessarily "inside" information. A chiropractor I know treats a major world boxing figure and he advised me before a fight that this boxer was fully healed and ready to win the fight. He lost. (I didn't bet anyway, I am not a sports bettor.)
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
darkoz
darkoz
Joined: Dec 22, 2009
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January 31st, 2021 at 10:13:29 AM permalink
Quote: MDawg

That isn't necessarily "inside" information. A chiropractor I know treats a major world boxing figure and he advised me before a fight that this boxer was fully healed and ready to win the fight. He lost. (I didn't bet anyway, I am not a sports bettor.)



Of course you didn't lose.

When does MDawg lose?
For Whom the bus tolls; The bus tolls for thee
MDawg
MDawg
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January 31st, 2021 at 3:37:24 PM permalink
That's not looking so good, especially Nasdaq-wise.



Still, the night is young and I could see a reversal to the green side by the bell, or soon afterwards.

AMZN and GOOG/L both report Tuesday.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.

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