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Pastimes : Jonathan Lebed, 14 Year Old Boy Fined 1/4 Million by SEC
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To: EL KABONG!!! who wrote (55)9/21/2000 8:53:39 PM
From: Follies  Read Replies (2) of 172
 
KJC,

Thanks for your succinct post. I was flippant on a serious subject.

I dont know securities laws but I can understand that making false statements, the most egregious of which may be the recent emulex debacle, would be illegal. However if I make a statement such as "this is the most undervalued company around" or "this stock is going to $100", or "we at Goldman Sachs set a price target of $200" , am I breaking the law? Who can determine if the statement is false? I see books with the title "Dow 100,000". Is that false and misleading?

A future prediction cannot be false at the time it is made, indeed the sun may not rise tomorrow, who is to say?

I think suppressing future predictions is in violation with the first amendment. Just my humble, etc. etc.

Dale
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