Guess Who Was Buying Heinz Stock From Its Clients?
Update:
Acting just one day after the surprise announcement that H.J. Heinz would be acquired by Warren Buffett’s Berkshire Hathaway and Brazil-based 3G Capital for $23.3 billion, the SEC has gone to court to freeze assets associated with what it calls “highly suspicious options trading.”
Financial advisers as well as lawyers have THEIR best interests in mind…not yours….
And all we hear is crickets from the state-run media.
My thoughts exactly. Then there is Soros whose earned a cool billion since November with the currency war-the article wouldn’t name the company he trades through, citing it was a private firm-thinking it’s more than likely owned by him too-one way or another.
The trouble with sociopaths is, they’ve all congregated into banking and politics.
They will not leave a single bread crumb on the table for the individual investor.
Well this is a surprise. Time for a perp walk?
“U.S. securities regulators on Friday sued unknown traders over suspected insider trading in H.J. Heinz Co call options ahead of the announced buyout of the company.
The lawsuit said the options generated more than US$1.7-million in unrealized profit before the ketchup maker on Thursday agreed to a US$23-billion buyout by Warren Buffett’s Berkshire Hathaway and private equity firm 3G Capital Partners.
Call options give the right to buy the underlying shares and profit when the stock rises.
The U.S. Securities and Exchange Commission also said it had won an emergency court order to freeze assets in a Zurich, Switzerland-based trading account used to reap the alleged trading profits.”
http://business.financialpost.com/2013/02/15/u-s-regulators-probe-suspicious-spike-in-trading-day-before-heinz-deal-unveiled-report/
methinks Mr Kerry and wife (demok rats) will profit nicely enough from this to warrant a coverup
Goldman is the most crooked company on wall street
A cynic might come to the conclusion that “Brazil”
is just an alternate way of spelling “China”.
Seems odd this transaction didn’t get finalized
prior to 2013.
Members of Congress can legally trade on inside information, but anyone else should be punished to the full extent of the law.
Remember the Vietnam vets who exposed fairykerry for a purple heart fraud when he ran for President? It was no joke, it was personal. Those vets were betrayed by their country and their countrymen. They had only each other after the war was lost – they did/do not attack each other without good reason.
In pinko ranks, the scum always rises to the top.
In a crony economy, insider trading is required.
Congress and the Senate are the inside traders. Of course Barry Zero has no clue and I’m sure Jarret is in there for him.
If you think Walter`s story is neat,, 2 week’s-ago my brothers father in-law got a cheque for $4620 working an eleven hour week from there house and their roomate’s mother-in-law`s neighbor did this for 10-months and made over $4620 in their spare time from their mac. follow the guidelines at this website, c
As I’ve noted here before, Goldman’s account agreement explicitly says that the bank’s proprietary trading desk may take positions contrary to the advice GS provides its clients.
In other words, if you want to do business with Goldman, you agree that the bank may give you advice to act one way, while its best and smartest traders are doing exactly the opposite.
Any one stupid enough to sign that agreement, and to do business with these (insert string of vile and obscene adjectives here) uckers deserves what they get.
KevinB; How is it any different at any of the Canadian banks that have investment advisors (wealth managers) who advise their clients while the banks have trading units who might act differently? Investment startegies could be very different which could cause such actions.
The vast majority of ‘investors’ essentially abdicate their responsibility to know what and why they buy or sell investments. They rely on advisors or brokers to do that for them. When they don’t make thier million they cry foul!