To my fellow word presser Mark Cuban. Say it ain’t so….
The SEC actually regulates!? Get out……
sop
3 thoughts on “Mark Cuban Meet Martha Stewart”
Hey, Mark says the SEC is making a bad ref call.
It is an interesting case though, in that your boy Cuban says he sold his shares because of anger at the direction of the company and he wanted outside not inside (my own punk irony) and… and… and that the direction of the company just happened to have been told to him by the CEO does not constitute insider trading since the people that bought the shares weren’t privy to the info? Or somet’ing like’a’dat.
At any rate, who ya’gonna believe?
A Maverick investor named Cuban?
Or the silly SEC?
Ain’t it the brokers who are supposed to make us rich?
Wait a minute…huh?
Yeah he was angry alright. So angry in fact about the coming secondary offering he sold once he found out about it.
I think the key here is to understand the SEC doesn’t do much “enforcing” – by federal budget their enforcement division is woefully understaffed. I doubt they take on a civil prosecution like this without it being a slam dunk.
It is here that I could launch into a dissertation on how the average investor does not have the kind of access big money people like Mark Cuban enjoy and how the game is rigged. For my own part I’ve made my best money trading through time playing secondary offerings – so much so that buddies like Cowboy and Steve are salivating given the current market conditons.
As for brokers do you remember the old Ameritrade commercial from the late 90’s? The guy in the commercial said something like, “I went to a broker and the only one broker was me.” Stock brokers are in reality sales people who no more “manage” their clients investments than the man on the moon ( with some exception). They get paid based on what they sell you and believe me when the self interest of the broker is pitted against that of the mark I mean client 99 times out of 100 you’ll be sold the investment that puts the most money in their pockets not yours.
The no load mutual fund companies like Vanguard are an average individual’s best bet IMHO and never, I mean NEVER use a financial planner unless the planner is “fee only” (ie they charge by the hour instead of getting commissions from what they sell you.)
Hey, Mark says the SEC is making a bad ref call.
It is an interesting case though, in that your boy Cuban says he sold his shares because of anger at the direction of the company and he wanted outside not inside (my own punk irony) and… and… and that the direction of the company just happened to have been told to him by the CEO does not constitute insider trading since the people that bought the shares weren’t privy to the info? Or somet’ing like’a’dat.
At any rate, who ya’gonna believe?
A Maverick investor named Cuban?
Or the silly SEC?
Ain’t it the brokers who are supposed to make us rich?
Wait a minute…huh?
Yeah he was angry alright. So angry in fact about the coming secondary offering he sold once he found out about it.
I think the key here is to understand the SEC doesn’t do much “enforcing” – by federal budget their enforcement division is woefully understaffed. I doubt they take on a civil prosecution like this without it being a slam dunk.
It is here that I could launch into a dissertation on how the average investor does not have the kind of access big money people like Mark Cuban enjoy and how the game is rigged. For my own part I’ve made my best money trading through time playing secondary offerings – so much so that buddies like Cowboy and Steve are salivating given the current market conditons.
As for brokers do you remember the old Ameritrade commercial from the late 90’s? The guy in the commercial said something like, “I went to a broker and the only one broker was me.” Stock brokers are in reality sales people who no more “manage” their clients investments than the man on the moon ( with some exception). They get paid based on what they sell you and believe me when the self interest of the broker is pitted against that of the mark I mean client 99 times out of 100 you’ll be sold the investment that puts the most money in their pockets not yours.
The no load mutual fund companies like Vanguard are an average individual’s best bet IMHO and never, I mean NEVER use a financial planner unless the planner is “fee only” (ie they charge by the hour instead of getting commissions from what they sell you.)
sop