Equifax/Insider trading

[743 roadmasterParticipant]

https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack

Three Equifax Managers Sold Stock Before Cyber Hack Revealed

I don’t own any of this stock, and as far as I can tell will not affect any stock I own. Hope no one is on the short end of the stick on this.

mgtow is its own worst enemy- https://www.campusreform.org/

[TaxGuyParticipant]

743 roadmaster wrote:

Three Equifax Managers Sold Stock Before Cyber Hack Revealed

Yeah, check Congress. Oh wait, you can’t, they’re exempt from insider trading laws.

Order the good wine

[Faust For ScienceParticipant 22521]

TaxGuy wrote:

Yeah, check Congress. Oh wait, you can’t, they’re exempt from insider trading laws.

In many cases foreigners are exempt. Only the taxpaying U.S. citizens are subject to such tyrannical laws.

Though, one has to wonder. Out of the information on a 143 million people, the thieves have to have gotten the information on a lot of politically connected people.

[BeerParticipant 11832]

Just some other examples of corporate hacking…

http://fortune.com/2017/06/22/cybersecurity-hacks-history/

A few take aways here…most the people who had data stolen in the Equifax hack probably already had it stolen in some other corporate hack in the last few years anyhow…its not the end of the world. Its going to happen over and over as long as we have the internet. Additionally companies that get hacked don’t really tend to crash and burn…its bad press short term but a month after it happens they’re out of the headlines and most people pretty much forget about it or guy on to thinking the sky is falling over the next scandal a big company faces.

So my train of thought here…the inside trader thing was scummy, but regardless Equifax is going to continue doing business and making money…if their stock price goes down much more I’ll be considering buying some, sitting on it for a few months, and probably making a nice little chunk of change when the knee jerk reaction stops and people realize its oversold.

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