ITS NOT LEGAL
there is a reason why the SEC is investigating this and Morgan Stanley is being hauled before the courts.
free markets yes, free markets mean every gets the same information.
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ITS NOT LEGAL
there is a reason why the SEC is investigating this and Morgan Stanley is being hauled before the courts.
free markets yes, free markets mean every gets the same information.
It has nothing to do with trading on inside information because there are different rules that govern ipos. It's unfortunate that mom and pops got burned, but that's just how it works.
Yeah, I know, I was taking the piss out of truly free markets. Probably wasn't clear.
i was reading an article by a institutional investor who said he has been on 1000s of tech IPOs and never has he seen the rating and value of the company change in the middle of the roadshow and only told to institutional investors
Basically they didn't update their prospectus with the new information that was given to institutional investors by Facebook executives.
if its not illegal why is the SEC, NASDAQ, Morgan Stanley and the justice department of Massechesuts getting into all this shit to investigate it?
if a company is live on the markets and an executive tells a shareholder that their Q2 is bad, and the investor acts on that = insider trading
i would say its highly doubtful its different during an IPO roadshow. Although HAD they told everyone and not just the institutional investors, it wouldn't have been a problem
institutional investors after the new news said its worth $32 a share. funnily enough thats what its stabilising at.
Someones gotta go for it, and it sounds like Morgan Stanley is those who should do it. By the way MS BOOSTED the retail shareprice of facebook after this information
wall street is a law unto itself.
Basically they didn't update their prospectus with the new information that was given to institutional investors by Facebook executives.
if its not illegal why is the SEC, NASDAQ, Morgan Stanley and the justice department of Massechesuts getting into all this shit to investigate it?
if a company is live on the markets and an executive tells a shareholder that their Q2 is bad, and the investor acts on that = insider trading
i would say its highly doubtful its different during an IPO roadshow. Although HAD they told everyone and not just the institutional investors, it wouldn't have been a problem
institutional investors after the new news said its worth $32 a share. funnily enough thats what its stabilising at.
Someones gotta go for it, and it sounds like Morgan Stanley is those who should do it. By the way MS BOOSTED the retail shareprice of facebook after this information
wall street is a law unto itself.
What? That's exactly the problem. The fact that it may be technically legal because it hasn't begun trading yet is just a technicality, and if you agree that insider trading is wrong I can't see how you can possibly argue that isn't anything other than 100% shady.
They disclose information to who they want, in most cases to large institutional investors.
In which case its not a free market, and thus its shady and insider trading by default. The principle to follow is simply whether or not a piece of vital information is equally available to all. If not, its dodgy.
I'm going to enjoy watching this debacle play out. It's be nice to see a few of the facebook clowns in prison.
http://www.businessinsider.com/facebook-bankers-earnings-forecasts-2012-5
First time in history analysts have cut forecasts in the middle of a tech IPO
and the reason they did it? Facebook told them to.
This is a huge problem, for one big reason:
Selective dissemination. Earnings forecasts are material information, especially when they are prepared by analysts who have had privileged access to company management. As lead underwriters on the IPO, these analysts would have had much better information about the company than anyone else. So the fact that these analysts suddenly all cut their earnings forecasts at the same time, during the roadshow, and then this information was not passed on to the broader public, is a huge problem
Read more: http://www.businessinsider.com/facebook-bankers-earnings-forecasts-2012-5#ixzz1vm2up9RI
Any investor considering an investment in Facebook would consider an estimate cut from the underwriters' analysts "material information."
In other words, during the marketing of the Facebook IPO, investors who did not hear about these underwriter estimate cuts were placed at a meaningful and unfair information disadvantage. They did not know what a lot of other investors knew, and they suffered for it.
Speaking as a former analyst, it seems highly unlikely to me that the vague language in the final IPO amendment would prompt all three underwriter analysts to immediately cut estimates without some sort of nod and wink from someone who knew how Facebook's second quarter was progressing. (To get this message from the language, you really have to read between the lines). But even if this is what happened, it is still unfair that news of the estimate cut wasn't disseminated quickly and clearly to everyone considering buying Facebook's IPO.
The bottom line is that, even if dissemination laws were followed to the letter (which frankly seems unlikely), the selective disclosure here was grossly unfair.
First time in history analysts have cut forecasts in the middle of a tech IPO
and the reason they did it? Facebook told them to.
This is a huge problem, for one big reason:
Selective dissemination. Earnings forecasts are material information, especially when they are prepared by analysts who have had privileged access to company management. As lead underwriters on the IPO, these analysts would have had much better information about the company than anyone else. So the fact that these analysts suddenly all cut their earnings forecasts at the same time, during the roadshow, and then this information was not passed on to the broader public, is a huge problem
Read more: http://www.businessinsider.com/facebook-bankers-earnings-forecasts-2012-5#ixzz1vm2up9RI
Any investor considering an investment in Facebook would consider an estimate cut from the underwriters' analysts "material information."
In other words, during the marketing of the Facebook IPO, investors who did not hear about these underwriter estimate cuts were placed at a meaningful and unfair information disadvantage. They did not know what a lot of other investors knew, and they suffered for it.
Speaking as a former analyst, it seems highly unlikely to me that the vague language in the final IPO amendment would prompt all three underwriter analysts to immediately cut estimates without some sort of nod and wink from someone who knew how Facebook's second quarter was progressing. (To get this message from the language, you really have to read between the lines). But even if this is what happened, it is still unfair that news of the estimate cut wasn't disseminated quickly and clearly to everyone considering buying Facebook's IPO.
The bottom line is that, even if dissemination laws were followed to the letter (which frankly seems unlikely), the selective disclosure here was grossly unfair.
shanshan310
Member
reptilescorpio
Member
So I can rope a firm into saying my company is worth $50 a share even though I and they know it is only worth $30 a share?
Come on. This is the company that is basically harvesting private data for widespread enabling of identity theft.
yay for oxymorons
its the shadiest IPO in years. Analysts are going mental over it. Do a news search.
bodyboarder
Member
It's all subjective anyway.
I would say that's a bit far fetched, wouldn't you?
I heard something really interesting the other day. Google tracks what you do, whereas Facebook tracks what you say you like to do or something like that. What is more valuable??
i'd value that as a marketer more
Rlan: If I'm bored enough Sat. I might come over and visit. Maybe a mini MelbGAF meet is in order? Other Melburns, what say you?
Reptile: What's been the consensus on American Nightmare? I will hunt down the OT but going by screens in the PC Screenie thread, it looks pretty slick.
Edit: Fuck, you already posted it. What's the length on it like?
Reptile: What's been the consensus on American Nightmare? I will hunt down the OT but going by screens in the PC Screenie thread, it looks pretty slick.
Edit: Fuck, you already posted it. What's the length on it like?
Come on. This is straight up fraud.
Unfair to the greater public but not shady? Come on.
Is Football manager as good as pocket league??
http://www.greenmangaming.com/s/au/en/pc/games/sports/football-manager-2012/ 13 bux
http://www.greenmangaming.com/s/au/en/pc/games/sports/football-manager-2012/ 13 bux
reptilescorpio
Member
Played about 3 hours today, I would expect it to be around the 5 hour mark if you breeze through it, I missed a lot of stuff. The OT would be the best place to find that information! Or a review on MetaCritic.
If you like looking at Excel spreadsheets all day long it might be up your alley.
Also the win scenario is to cut 10% of your marketing budget while increasing your ticket sales 40%.
EDIT (vvv): If you like Europa Univeralsias III and other Paradox brain smelters you will like FM2012 probably maybe.
that should be a box quote on FM 13
Football manager would be the best management game of any type. Just depends if it is your thing. The tutorial system in this version is nice.
Played one before?
shanshan310
Member
So Bris-gaf +2/3, 2nd or 3rd of July looking good for the meet up?
Depends on what everyone wants to do, but if people were looking at going to the mana bar I would recommend monday the 2nd since tuesday is trivia night (and thus packed). Mana bar is kinda tiny though.
I thought it was a play on markot's avatar...
anyway guys, calm down. Look at this adorable cat ^^
Depends on what everyone wants to do, but if people were looking at going to the mana bar I would recommend monday the 2nd since tuesday is trivia night (and thus packed). Mana bar is kinda tiny though.
I thought it was a play on markot's avatar...
anyway guys, calm down. Look at this adorable cat ^^
If you're interested, I say give it a shot. It's complex but amazing and gets addictive.
IT WAS!! <3
I'm not really defending facebook, I just don't agree with everyone saying it's all their fault they lost money, it's fraud, it's wrong etc. I mean, the SEC isn't even accusing anyone of any wrongdoing. They're looking into it, which could lead to maybe revised ipo rules of some sort, or probably not.
I'm more inclined to thinking that the nasdaq problems are much more important. Like, people couldn't cancel orders, or bought more than they wanted. Now that is messed up.
roosters93
Member
Don't want to cause anymore bickering but
viciouskillersquirrel
Member
Monday night is better for me. Besides, I suck at trivia. I do OK until someone asks the inevitable sportsSo Bris-gaf +2/3, 2nd or 3rd of July looking good for the meet up?
Depends on what everyone wants to do, but if people were looking at going to the mana bar I would recommend monday the 2nd since tuesday is trivia night (and thus packed). Mana bar is kinda tiny though.
I thought it was a play on markot's avatar...
anyway guys, calm down. Look at this adorable cat ^^
game
Not disclosing important information about something you're selling is fraud. It doesn't matter that there aren't specific laws against it. When LJ Hooker North Ryde sold a murder house to a buddhist family a few years ago, did you think that was shady?
bodyboarder
Member
Don't want to cause anymore bickering but
That's not one of our referees...
The funny thing is that earlier in the game, this happened.
Hayne knocked the ball from Thaiday's hand and it was ruled a knock-on and NSW ball. That's a loose carry/poor ball security, no different from what happened with Inglis. If your arm or the ball gets bumped and you lose it, suck it up because that's a knock-on. Hold onto it better next time.
reptilescorpio
Member
OneMoreQuestion
Member
Hmm dibs on Halo Reach? How much are you expecting for it?
Wow. Fun game.
Make a reasonable offer I guess.
The CE stuff is all in tip top condition. Only issue I'm not 100% sure is the DLC codes. I'm reasonably sure I didnt redeem them, but can't be certain.
reptilescorpio
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