James Altucher Is "Horribly Naive"! Legalizing Insider Trading Would "Create a Monster"

James Altrucher is the moron who says to invest in global cooling. Yeah, with the arctic ice melting every year more, one should invest in cooling? Altrucher just says the most outrageous things to get attention for his lame hedge fund. "No publicity is bad publicitiy"

sure buddy, it's all price discovery! investors die by a thousand cuts with insider trading, flash orders and the like. Let us remember, there are no productivity gains with financial assets...someone's gain comes from someone's loss, collective or otherwise.

If you legalize insider trading it would no longer be insider trading. You would also reduce the need for technicians that chart stocks and make millions trying to form a pattern for a particular history that resembles insider trading. Are not all the people employed as executives at banks that have defined plans not trading with inside information. The officers at every one of these banks know that the banl would be insolvent if the public knew just how poorly the assets and credit traunches are performing. Government, by eliminating mark-to-market rules have created another huge ponzi scheme that is merely delaying the inevitable. At some point the deleveraging period will begin.

People wake up ... We the people need to send these fat cats at wall street a message ... how? .... get the hell out of the market, pull out of stocks before they do ... let them hold the bag for once! They have all the info, they have all the money and can influence the market in what ever way they feel ... you as an individual are powerless ... at least that is what they think! If we all pull our money out and just keep it on the sidelines for a week ... all these fat cats and people playing shorts will pay the price ... then we put our money back in and ride the train higher!

Hang Him He's another scammer just like all of them // They Know all the loopholes and rip evrebody off // Put Him in Jail for the rest of his life one less of these jerks to swindle us.

why waste an episode on this Altucher moron.... the best thing you can do is not have morons like Altucher appear on your entertainment show.... at least, you would gain some credibility....

People we need to unit as a group! Put your money (Stocks, 401K, IRA, etc…) on the sideline … cash out of the market for a week. No need to withdraw the money, just pull it out of market. Just imagine what power we have! Right now, we are being played so all the fat cats can make easy money … THAT IS exactly what THEY are capable of doing everyday! Each one of these large firms has enough money to influence the market (very small) … creating the short … they make money … we give it to them. If we all pull out … those same fat cats are left holding the bag and we get are money back! After the market falls, you then put your money back in. THAT IS exactly what they are capable of doing everyday! Each one of these large firms has enough money to influence the market … creating the short … they make money … we give it to them.

hey Popoy, you meant two balls of iron on testicles, right ?

It brings a smile to my face every time Henry talks about insider trading. How about some disclosure http://en.wikipedia.org/wiki/Henry_Blodget

Thanks Rick. The way to kill the fat cats on wall street, if the administration has no will nor balls to do it is to get everyone to pull out all their $$ from wall street for a week and see who's the customers. The fat cats on wall street need to get their acts and balls right.

Yeah, like Warren Buffett doesn't get insider information ... c'mon .... this stuff happens all the time and will continue to happen because you can't police it ... look at the amount of money changing hands every day .... how are you going to police it?

he is a paid hedge fund, reactionary idiot paid to say stupid things - his body language reeks of him not believing a word he says - it is the stupidest idea to allow insider info - but dont put it past congress and the SEC to approve it and hail it as 'freemarket' as it rapes more retirees livlihoods

Stocks are manipulated somewhat as it is, legalizing it would allow "insiders" to amass large profits while every other traders profit margin would decrease. and btw Regarding a oil and gas company positioned for growth once oil prices rebound is DNE, revenue has been crippled from low prices, but has cut spending and are positioned for a rebound along with commodities.

If you want to see the future of wall street see this. It is a long video but worth the watch. http://www.youtube.com/v/VebOTc-7shUh

http://www.youtube.com/v/VebOTc-7shU

Many people still don't get it. These small fry inside traders are paraded in the media as a diversion. The real criminals are much bigger fish. Paulson was the CEO of Goldman when he lobbied Congress for 40 to 1 leverage and repeal of Glass-Steagal in order to sell mortgage packages (CDOs) worldwide. When he say that bubble was going to explode they hedged with Credit Default Swaps (CDSs) and sent Paulson to the Treasury to protect Goldman's interests. This is CRONYISM at the highest level of our government because Wall St. owns the government. No Senator should be in office more than 2 terms (12 years) and no Congressmen/women should be in office more than 3 terms (6 years) otherwise they do too much harm to us all. VOTE OUT the INCUMBENTS in 2010.

In Great Depression days, it was not illegal, but not being illegal probably did not help anything. http://www.tradingstocks.net/html/great_depression.html

What idiot wants to legalize insider trading? Maybe to make it retro-active to get all the crooks of Wall St. off the hook. When will they be stopped?

Rick nobody was buying the market back in March and the insiders did get bagged that is why Mer is no more and GS was sliding to zero Lehman is gone. What did they do to screw us all. They came up with too big to fail and the Government actually funded their corrupt ponzi schemes to keep them going at each average Americans expense. The other side of the coin was to let them fail and they probably should have. A new stronger America might have emerged. But the people in power did not want to let this happen and they are trying to preseve the status quo but it aint working...A crash is just around the corner. Don't let them keep squeezing the shorts don't let them dump to the public. Gradually sell out of your 401K's 10000 is a lot better then 5000 or 1000.

I agree CRONYISM protects the status quo and keeps America from growing and innovating. Oil giants need to be cut down and so do the Banks they are trapping almost all Americans in their immoral snare. 30% interest at Cititgroup and the Government is practically running them. I guess this tells us about the true Obama. There is no bail out for the average Joe just steal some more of his lunch. This is no longer acceptable FIGHT FOR YOUR LUNCH!