26
Feb
Insider Trading Test…
Which one(s) is/are insider trading?
Waiter picks up a piece of paper which is note from the CEO of Qwest to his legal counsel telling him that the news of his indictment will be released tomorrow. Can the waiter short the stock?
A lawyer is overheard by a waiter giving the news as in #1. Can he trade on it?
Your broker calls and tells you his client Joe Nacio is shorting Qwest stock and recommends you do the same.
Your son is dating Joey Nacio’s daughter and tells you he overheard Nacio talking on the phone