High-roller Billy Walters convicted on insider trading charges

[Augenj]

Don't you know this guy, Randall?

http://money.cnn.com/2017/04/07/investing/billy-walters-insider-trading-conviction/index.html

[ReplayRandall]

Don't you know this guy, Randall?

http://money.cnn.com/2017/04/07/investing/billy-walters-insider-trading-conviction/index.html
I plead the 5th at this time......I also just drank one, too.

[Tape Reader]

IMO, insider trading benefits John Q. Public. Example: I once owned XYZ Corp. and was thinking of selling it. I started to notice an increase in price and volume on Thursdays and Fridays.

I held on and was rewarded a few weekends latter when it was reported to be a takeover at a substantial price increase. (Most takeovers happen over the weekend and that is why one sees suspicious trading on Thursdays and Fridays.)

I guess Congress wants the domain of insider trading to themselves.

If I were on the jury I would be playing golf with Billy Walters tomorrow.

[EasyGoer89]

Witchhunt. They just wanted to stick it to the successful gambler.

[Parkview_Pirate]

Witchhunt. They just wanted to stick it to the successful gambler.

I seem to recall during his 60 Minutes interview that Billy Walters made a rather negative comment about the "crooks" on Wall Street who had fleeced him. Perhaps it was a little payback from those guys.

The star witness against Walters, former chairman of Dean Foods, hardly comes across as a model citizen.

https://www.ft.com/content/e50bd70e-1b11-11e7-bcac-6d03d067f81f

Mr Davis admitted to stealing $100,000 from a battered women’s charity, lying to federal agents investigating the trading, running an illegal sports betting group in Texas, and paying for sex.

To make $42M over six years with just one equity is impressive trading, regardless of what info you have. If Walters gets jail time, while Phil Mickelson skates with a fine, will be just another example of how life isn't always fair....

[lamboguy]

whatever "the computer" did was nothing compared to Goldman Sachs, Chase Manhattan, Morgan Stanley, Deutche Bank and all the other scoundrels did to the world. none of those people that run those criminal enterprises are going to do 3 seconds in the can and they all deserve 30 years.