From: Olga Bourlin (fauxever@sprynet.com)
Date: Thu Jun 05 2003 - 19:57:38 MDT
From: "gts" <gts_2000@yahoo.com>
> Lee Daniel Crocker wrote:
>
> Stewart is facing criminal charges and looking at possible prison time for
> doing what any intelligent person might have done under the same
> circumstances (excluding her alleged obstruction of justice after the
fact,
> which I don't condone).
Au contraire, what Martha did was NOT intelligent. Too early to tell what
the judgment will be, but from what I understand there is NO RECORD of
Martha's instructions to her broker about the stop loss PRIOR to the day in
question when she may have gotten this alleged insider information. Martha
was a stockbroker herself once, and could have avoided all this brouhaha had
she used stops consistently (to protect her positions, after deciding what
percentage loss she was willing to risk on each one), or trailing stops
(trailing them up to protect her profits). She - of all people - should
have known better. Good investors use good money management methods with
their stock positions - that's just a given, if one is interested in
protecting profits and limiting losses.
> Her broker says: "Hey Martha, Sam Waksal is selling his ImClone. Looks
like
> the drug isn't going to be approved."> Martha thinks to herself: "Hmm, who
better than Sam knows best when to sell> ImClone?" > She then instructs her
broker to sell her shares also.
The burden of proof will be on Martha to prove that this transaction was
similar to her other stock transactions, but it looks like it may have been
a special case. Therefore, what Martha did was NOT "a good thing." Aside
from the moral issues, Martha gave someone a stick to hit her with, and
*then* she apparently lied (thereby giving away, assembly-line style, even
more "hitting" sticks).
Naughty, naughty Martha.
Olga (who would like to see the *other* sleazeballs from the various stock
scandals put on trial, too ... why are they still out and about, quaffing
martinis by the poolside at their summer home(s)?)
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