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Front running

doogiedoogie Member Posts: 15,072
edited May 2022 in Tug Tavern
“... the night before the Archegos Capital story burst into public view late last month, the fund’s biggest prime broker quietly unloaded some of its risky positions to hedge funds, people with knowledge of the trades told CNBC."


https://www.zerohedge.com/markets/gigantic-clusterfk-how-morgan-stanley-avoided-10bn-archegos-losses-selling-first
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  • godawgstgodawgst Member, Swaye's Wigwam Posts: 2,538 Founders Club
    Morgan Stanley did get out (saving themselves 25 points on their share price, not to mention a 5% correction in the market the last 2 weeks) but there are some really po'd hedge funds that aren't going to forget along with regulators and attorneys tuning up the band from the legal side of things.
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  • TheRoarOfTheCrowdTheRoarOfTheCrowd Member, Swaye's Wigwam Posts: 1,730 Founders Club
    edited April 2021
    It's an old story... it's hard to not know what you now know, and to then not act on what you know. Congressional leaders and policy makers have the same issues with the same outcomes.
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  • creepycougcreepycoug Member Posts: 23,835
    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....
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  • SourcesSources Member, Swaye's Wigwam Posts: 4,241 Founders Club
    creepycoug said:

    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....

    No, but I'm sure there's an explanation that only makes sense for those involved to sort out behind closed doors.
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  • doogiedoogie Member Posts: 15,072
    creepycoug said:

    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....


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  • PurpleThrobberPurpleThrobber Member Posts: 46,455 Standard Supporter
    doogie said:

    creepycoug said:

    Can someone please explain to me how Morgan Stanley didn’t violate Rule 10b-5 here?

    I guess this was just a few days ago ....


    Cramer was sporting a boner this morning for Jamie Dimon's manifesto on the free market and equality.

    So, for sure, Dimon was doing some shady shit if he's got the PR machine running at full bore.

    Fuck bankers.

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  • RaceBannonRaceBannon Member, Moderator, Swaye's Wigwam Posts: 110,496 Founders Club
    Chase is not your friend
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