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Politics : A Real American President: Donald Trump
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To: Honey_Bee who wrote (259975)1/28/2021 11:39:05 AM
From: Thehammer1 Recommendation

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Honey_Bee

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My sympathies lie with the "Crowd Trading" group. The SEC has some smart people but most of the really good ones started out in the brokerage business and have a deep background in the business. Then they have a slew of clueless MBAs who are looking to move on to their next jig and use the SEC role as a resume career step.

Bernie Madoff should have been caught. A simple audit routine would have nailed him. You always look for outside confirmation of positions. It was SOP when I was an auditor (for all of 10 months). They would have seen that there were no corresponding positions at DTC / CBOE etc. Then you also had the data analysts who said his returns were impossible based on looking at historical price movements.

The "Crowd Traders" also have a degree of advantage in that they don't have to report their positions. The Hedgehoggers may find a way though to turn the tables.
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