Quote:
Originally Posted by passthru
I think this is a great idea; I wish I had known sites like those mentioned existed. Insider trading works (and is illegal) because the trader has an intimate familiarity with the company. The more you know about a stock the wiser your decision will be, and networking will connect you with somebody who knows more. It may be harder to network through the Internet, but it's kinda bigger (therefore more knowledgeable) than Wall Street.
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Interesting. It seems like you didn't read the article at all, yet somehow did.
Having worked mostly for Fortune 500 companies in my career, I can say that's quite misinformed. I get enough information about my company that I'm not able to sell stock except for certain window periods. I can talk about what I know from my previous company Viacom as well. I still know many people in the right places there. The catch is that my information may not add or detract from the stock price in any real way.
What does matter is the fact that you can see someone's performance as to how they pick and choose stocks, that information is by far more important than any insider trading information. It is even why people with a good track record are followed on wall street, from fund manager to Warren Buffet. Warren makes a purchase in a stock, and people pay attention.
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