[HN Gopher] How to get away with fraud (2018)
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       How to get away with fraud (2018)
        
       Author : mr_golyadkin
       Score  : 18 points
       Date   : 2024-06-29 06:26 UTC (1 days ago)
        
 (HTM) web link (www.theguardian.com)
 (TXT) w3m dump (www.theguardian.com)
        
       | ChrisMarshallNY wrote:
       | _> bordering on arrogance_
       | 
       | I've known a number of traders.
       | 
       | I wouldn't call it "bordering." In fact, from my experience, they
       | are so far in-country, the border is a distant memory.
        
       | o11c wrote:
       | One misaligned incentive that jumps out at me: if an analyst
       | (working for an investor) finds something that looks like fraud
       | in a company, do they have any motive to expose the fraud to
       | investors besides the one hiring them? Are they even allowed to?
        
         | ascorbic wrote:
         | Yes. This is what some short sellers do: if they uncover what
         | they think is fraud, they short the stock then publish their
         | evidence. If the fraud is confirmed then they can have a huge
         | payday when the stock collapses.
        
           | TacticalCoder wrote:
           | Like Marc Cohodes, a famous short seller who made a fortune
           | exposing many frauds.
           | 
           | FWIW back when The New-York Times was still too busy
           | presenting SBF as the second coming of Christ, Marc Cohodes
           | was telling the world that they had shit in their eyes (he's
           | not the most polite when he talks about scummy thieves) and
           | that it was obvious that this complete no-name that SBF was
           | was a complete fraud.
           | 
           | He likes to make video where he takes an axe and explains
           | he's been short selling and that now he's coming for
           | fraudsters' heads (while making millions in the process).
        
             | jgalt212 wrote:
             | The media doesn't care. They just want to move product.
             | They are indifferent between exposing SBF as a fraudster or
             | celebrating him as a golden god--they want the easy path to
             | revenues. And, of course, a lot of reporters tend to be
             | susceptible to idolatry. To be reductive, reporters are
             | either muckrakers to starf_cukers.
        
       | omgJustTest wrote:
       | Was totally expecting : "commit fraud, get caught, then launch a
       | counter lawsuit against the SEC saying they have no power to
       | regulate, get it in front of the current US Supreme Court.
       | They'll believe it."
        
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       (page generated 2024-06-30 23:02 UTC)