ICVI (now MTEI) Message Board

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Microcap & Penny Stocks : ICVI (now MTEI)

MTEI 0.00470

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Nov 21 9:30 AM EST

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To: Moonglow who wrote (5199)	5/31/1998 1:12:00 PM
From: Patricia	Read Replies (1) of 11850

Juanita...I'm going to take a stab at this... Insider trading involves information that is bestowed on a favored few and withheld from the investing public. This includes ANY information that directly affects stock prices...like the price of a merger or a takeover offer, the true spread between the ask & bid prices...or even the identities of buyers of large blocks of stock and knowing why they are buying. Insider trading happens whenever a person or persons use privileged information to gain profits for themselves or they pass this information along to allow others to profit. I obtained my info from a non-fiction book: "Den of Thieves" by James B. Stewart. He recants a 'Decade of Greed' during the 80's and the scandalous insider trading that brought Wall Street crashing down. It chronicles events from May 1986, when the SEC and federal prosecutors accused Dennis Levine of making over 12 million in insider trading profits, to the sentencing of Michael Milken to ten years in prison in November 1990 for the six felons he was found guilty of, including racketeering and securities fraud. He was fined a pittance of what he made, only 600 million. Some of the biggest names in Wall Street history were involved...and the amount of illegal gains was staggering. This book was a great eye-opener for me. I found it doing research, before I started investing. For me, a must read...because it still happens today. Oh, not nearly on the level that these guys did it. But lets face it, the SEC and Justice Dept can only do so much...I'm sure that a few are slipping through the cracks. But I give them a thumbs up for the work they do...I imagine keeping what they call the "playing field" on even ground is a 24-7 job. Hope this helps... Patricia

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