tag:blogger.com,1999:blog-18183714.post114312028666145827..comments2024-03-08T20:25:35.963+08:00Comments on Malaysia-Finance Blogspot: Short Selling In KLSESalvadorDalihttp://www.blogger.com/profile/06868577716920232901noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-18183714.post-1143428415297992002006-03-27T11:00:00.000+08:002006-03-27T11:00:00.000+08:00Found the link to the video...http://www.cbsnews.c...Found the link to the video...<BR/><BR/>http://www.cbsnews.com/sections/60minutes/main3415.shtml<BR/><BR/>look for 'Betting On a Fall'<BR/><BR/>Click on 'Watch: Lesley Stahl's Notebook'...<BR/><BR/>:)Moolahhttps://www.blogger.com/profile/16837745401820976707noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-1143427575690478382006-03-27T10:46:00.000+08:002006-03-27T10:46:00.000+08:00part 3 of that article ...{snip}60 Minutes has lea...part 3 of that article ...<BR/><BR/>{snip}<BR/><BR/>60 Minutes has learned that on top of Biovail’s civil suit, the Securities and Exchange Commission is investigating the case, looking into possible stock manipulation and conflict of interest. But proving outright securities fraud in this case won't be easy. Remember, hedge funds are barely regulated and operate under a veil of secrecy. <BR/><BR/>And, according to Richard Blumenthal, the Attorney General of Connecticut – home of SAC - the issue of what’s actually illegal here is not so clear. <BR/><BR/>"There is no prohibition against anyone calling an analyst and providing information and that kind of free flow of information often can do the market good," says Blumenthal. <BR/><BR/>"I’m curious to know whether it matters that the information was true or false for law enforcement?" Stahl asked the attorney general. <BR/><BR/>"It matters a lot whether the information was true or false," Blumenthal said. <BR/><BR/>"So sharing in and of itself is okay, but if they’re feeding false information—" Stahl said. <BR/><BR/>"With the knowledge it’s false—" Blumenthal said. <BR/><BR/>"With the knowledge that it’s false—"Stahl replied. <BR/><BR/>"For the purpose of driving down the stock and with a position in the stock," Blumenthal said. <BR/><BR/>"All of that together is a crime?" Stahl asked. <BR/><BR/>"Within— well, it may not— it depends on who knows what, what the criminal intent may be, if it’s there," Blumenthal answered. <BR/><BR/>"This is not going to be easy to prove is what you’re saying," Stahl said. <BR/><BR/>"None of these securities violations is a slam dunk, ever, under the best of circumstances," he replied.Moolahhttps://www.blogger.com/profile/16837745401820976707noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-1143426921191178222006-03-27T10:35:00.000+08:002006-03-27T10:35:00.000+08:00Guess what?They did not air this program! Instead ...Guess what?<BR/><BR/>They did not air this program! Instead they showed Tiger Woods!!!<BR/><BR/>LOL!!!<BR/><BR/>Amazing isn't it? <BR/><BR/>anyway... here is the link to the transcript of the program.<BR/><BR/>http://www.cbsnews.com/stories/2006/03/24/60minutes/main1438812.shtmlMoolahhttps://www.blogger.com/profile/16837745401820976707noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-1143425701729327442006-03-27T10:15:00.000+08:002006-03-27T10:15:00.000+08:00Hi All,Here is some intersting stuff...http://www....Hi All,<BR/><BR/>Here is some intersting stuff...<BR/><BR/>http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/175/Default.aspx<BR/><BR/>60 Minutes will be doing a segment this Sunday covering controversial hedge fund SAC, and Gradient, and their little disagreement over stock manipulation charges. Specifically will discuss the short and distort accusations wherein Cohen of SAC is accused of using a hatchet job approach to driving stock prices into the toilet, for profit.Moolahhttps://www.blogger.com/profile/16837745401820976707noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-1143339862201515312006-03-26T10:24:00.000+08:002006-03-26T10:24:00.000+08:00Hi Rohan,I regard short-selling as another form of...Hi Rohan,<BR/><BR/>I regard short-selling as another form of how one trades the market(ie either long or short). And yes insider trading is very suspect here but this one issue had been existing forever in all markets everywhere. When there is money to be made, there will always be a crook somewhere and as you know when there is one crook, you will always find more and more. And as the famous saying goes, there is never ever just ONE cockroach. <BR/><BR/>So would I be against short-selling just because them 'cockroahes' will cheat?<BR/><BR/>My answer is NO. Either way, long or short, them 'cockroaches' will STILL cheat!<BR/><BR/>Having said all that, I really AGREE so much with that the enforcement of regulations had been so lacking. <BR/><BR/>How?<BR/><BR/>Me? What I find it utmost disgusting is how OUT local press is usually USED AS A TOOL by these 'cockroaches' whenever they want to cheat! <BR/><BR/>WHy is why, I have been constantly blogging on this issue.. yeah... it probably be a vain effort (yeah.. some would say tok is cheap) but I hope sooner or later I will be heard... :)<BR/><BR/>Cheers!Moolahhttps://www.blogger.com/profile/16837745401820976707noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-1143256376107422372006-03-25T11:12:00.000+08:002006-03-25T11:12:00.000+08:00rohan888,I totally appreciate your concerns and go...rohan888,<BR/><BR/>I totally appreciate your concerns and good points made. I guess your main gripe is the lack of enforcement, and that short selling would benefit the insiders even more.<BR/><BR/>Agreed, but that should not be reason for not instituting short selling. What we have is a seperate problem - more market vigilance and enforcement. Of course insiders can still use proxies to act for them. Yes, it will be difficult to enforce and catch. We also have the same situation NOW with insiders always getting the jump on the rest on favourable news, do we want to eliminate that also by disbanding the stock market altogether. We live with what we have and try and voice out for improvements. At least with short selling, we ALL can monitor sharp increases in open interest thus alerting everyone to jumps in scrip lending and shorting. Going long by insiders is easier to mask.<BR/><BR/>I totally agree with you, more enforcement is needed, things like reporting as information is available not when it is convenient, the timing of information (cannot be a gap), enforcement on immediate families trading pattern, etc... we just need to adopt best practices from world standards.<BR/><BR/>Cheers...SalvadorDalihttps://www.blogger.com/profile/06868577716920232901noreply@blogger.comtag:blogger.com,1999:blog-18183714.post-1143162864570283812006-03-24T09:14:00.000+08:002006-03-24T09:14:00.000+08:00Good issues pointed out.I am also for RSS but I wo...Good issues pointed out.<BR/><BR/>I am also for RSS but I would like to add just one comment...<BR/><BR/>Rational thinking is still a must.<BR/><BR/>:)Moolahhttps://www.blogger.com/profile/16837745401820976707noreply@blogger.com