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Time Traveler Busted for Insider Trading
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<blockquote data-quote="CaryP" data-source="post: 14998" data-attributes="member: 34"><p><strong>Time Traveler Busted for Insider Trading</strong></p><p></p><p>Hi penrose, and welcome to the plantation. </p><p></p><p>Thanks for the article, but we've been through this one before. The Andrew Carlssin story was a hoax published in a rag known for its "fantasy" stories. Might want to check out a previous thread located at <a href="http://www.timetravelforum.net/forums/index.php?showtopic=1085" target="_blank">http://www.timetravelforum.net/forums/inde...?showtopic=1085</a> </p><p></p><p>We covered this one about a month ago. Don't be discouraged though, it's an interesting read. The only way for the story to be true would be if this ficticious character had exact "lows" and "highs" of specific stock prices. To turn $800 into $350 million in two weeks time is impossible. That's a return of 43,749,900% in two weeks. The stock market is something I do for a living. Prices just don't move that fast. This guy would have been noticed by lots of people including the financial press way before $350 million had been reached. The other problem would be establishing identity. The Patriot Act includes, among other things, a host of new anti-money laundering laws. The identity of a new client opening an account requires picture ID and a run of their social security number through a centralized screening process to determine if this person is 1) real and 2) not wanted by DHS. In addition, the NASD has a "know your customer" rule. You can't open an account for just any knucklehead walking in off the street. I doubt many brokers would have opened an account with a whopping $800 to begin with. Ain't worth the paperwork. Most, if not all, of the online trading firms have a higher minimum than $800 as well. The other problem with a time traveller armed with exact intra-day highs and lows of individual stock prices would be the multiple time lines theory. Stock prices could be different with the "divergence" thing. 126 high risk trades that were all winners in a two period just ain't possible, especially to the extremes quoted in the article. You'd have some losers in there, and you wouldn't get close to $349.999,200 in profit. The other part of the story that I read way back when this thing came to light, was that Carlisson made bail, and disappeared. If he was arrested for insider trading, his account would have been frozen. I don't think two weeks would have been long enough to establish a relationship that would have had someone put up the bail money. Plus, whoever put up the bail money would have had to reveal their identity. Ain't gonna happen. Anyway, thanks again. Sorry for the boring details.</p><p></p><p>Cary</p></blockquote><p></p>
[QUOTE="CaryP, post: 14998, member: 34"] [b]Time Traveler Busted for Insider Trading[/b] Hi penrose, and welcome to the plantation. Thanks for the article, but we've been through this one before. The Andrew Carlssin story was a hoax published in a rag known for its "fantasy" stories. Might want to check out a previous thread located at [url=http://www.timetravelforum.net/forums/index.php?showtopic=1085]http://www.timetravelforum.net/forums/inde...?showtopic=1085[/url] We covered this one about a month ago. Don't be discouraged though, it's an interesting read. The only way for the story to be true would be if this ficticious character had exact "lows" and "highs" of specific stock prices. To turn $800 into $350 million in two weeks time is impossible. That's a return of 43,749,900% in two weeks. The stock market is something I do for a living. Prices just don't move that fast. This guy would have been noticed by lots of people including the financial press way before $350 million had been reached. The other problem would be establishing identity. The Patriot Act includes, among other things, a host of new anti-money laundering laws. The identity of a new client opening an account requires picture ID and a run of their social security number through a centralized screening process to determine if this person is 1) real and 2) not wanted by DHS. In addition, the NASD has a "know your customer" rule. You can't open an account for just any knucklehead walking in off the street. I doubt many brokers would have opened an account with a whopping $800 to begin with. Ain't worth the paperwork. Most, if not all, of the online trading firms have a higher minimum than $800 as well. The other problem with a time traveller armed with exact intra-day highs and lows of individual stock prices would be the multiple time lines theory. Stock prices could be different with the "divergence" thing. 126 high risk trades that were all winners in a two period just ain't possible, especially to the extremes quoted in the article. You'd have some losers in there, and you wouldn't get close to $349.999,200 in profit. The other part of the story that I read way back when this thing came to light, was that Carlisson made bail, and disappeared. If he was arrested for insider trading, his account would have been frozen. I don't think two weeks would have been long enough to establish a relationship that would have had someone put up the bail money. Plus, whoever put up the bail money would have had to reveal their identity. Ain't gonna happen. Anyway, thanks again. Sorry for the boring details. Cary [/QUOTE]
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