Jonathan Lebed, 14 Year Old Boy Fined 1/4 Million by SEC Message Board

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Pastimes : Jonathan Lebed, 14 Year Old Boy Fined 1/4 Million by SEC

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To: Sword who started this subject	9/24/2000 5:20:58 AM
From: Bilow	Read Replies (1) of 172

Hi all; Some comments on the Lebed case... (1) This suggests that pumping and dumping is a way of making money. I didn't realize that this would work. Most of the time, when pump and dumpers show up, the usual insult is to suggest that they are stupid. Now it seems like we can only suggest that their activities are immoral, unethical, or illegal. (2) 15 years old? Even 15 (12?) year-olds can make money in the market? Admittedly, he was apparently only going long, and this has been a strong bull market. But it sure seems like I see a lot of successful young traders. I've noticed that certain facets of trading is almost invariably a young man's game. Few scalpers, for instance, are over 30, or female. The best scalper I ever spent any significant time with (i.e. I watched him trade for a long time) was 18 or 19 at the time. (3) How did the SEC get onto him? Was it because he used his real name? (4) Is the reason he got a light deal because he is willing to turn on some of the other P&Ders? While SI has records of everything that goes on, there are chatrooms where the authorities do not, I believe, have records of what was "said". Lebed could tell the authorities who the other members of the P&D team were. -- Carl

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