HFT it - get a server near in network terms to the Twitter servers that handle Trumps tweets; use the millisecond advantage to buy ahead of the other bots, ...
You don't need to be hired by the company to be classed as an insider (though that obviously also counts). If you are privy to non-public information (which you would be if you were forewarned about a Trump PR stunt before it happened) and then you trade stock based on that information then legally you could be classed as an insider.
My buddy Sean from the white house texted me a few days ago that "Trump is going to make negative comments about Nordstrom soon", I shorted Nordstrom stock based on this information and made huge profits when Trump said the things Sean promised he would.
Do you think someone would be guilty of insider trading here? Nobody involved is connected to Nordstrom in any way.
i don't mean to sound dogmatic but the source I cited does explicitly say that the "insider" does not have to work inside the company specifically but rather just be privy to non-public information.
Unless you can find another citation that contradicts my point then I'm going to have to assume my point is correct. And I say that welcoming a correction in the name of "science" :)
>In the United States, Canada, Australia and Germany, for mandatory reporting purposes, corporate insiders are defined as a company's officers, directors and any beneficial owners of more than 10% of a class of the company's equity securities. Trades made by these types of insiders in the company's own stock, based on material non-public information, are considered fraudulent since the insiders are violating the fiduciary duty that they owe to the shareholders. The corporate insider, simply by accepting employment, has undertaken a legal obligation to the shareholders to put the shareholders' interests before their own, in matters related to the corporation. When insiders buy or sell based upon company-owned information, they are violating their obligation to the shareholders.
Presumably it's not this chapter you're referring to.
>For example, illegal insider trading would occur if the chief executive officer of Company A learned (prior to a public announcement) that Company A will be taken over and then bought shares in Company A while knowing that the share price would likely rise.
Probably not this one either
>In the United States and many other jurisdictions, however, "insiders" are not just limited to corporate officials and major shareholders where illegal insider trading is concerned but can include any individual who trades shares based on material non-public information in violation of some duty of trust. This duty may be imputed; for example, in many jurisdictions, in cases of where a corporate insider "tips" a friend about non-public information likely to have an effect on the company's share price, the duty the corporate insider owes the company is now imputed to the friend and the friend violates a duty to the company if he trades on the basis of this information.
Despite the fact that this chapter doesn't contain anything relevant either, it's probably this one you're referring to. There's no corporate insiders or relationships involving a duty of trust here.
It's not non-public information, it's non-public insider information, upon which you cannot legally trade.
"illegal insider trading requires that you not only trade on the basis of important nonpublic information but that you also have some sort of duty to keep the information confidential." - Kiplinger
If you overhear insiders talking, you can trade on it. (Unless you're in a position where they have reason to expect that you cannot, such as if you're an employee, etc.)
