In general, it is the position of this newsletter (though it is not legal advice) that:
- You should not do insider trading.
- If you must do insider trading, you should not text your accomplice about it.
- If you must do crimes and text your accomplices about them, you should not use cutesy codenames for your crimes. You should use boring codenames for your crimes. If you are paying bribes, don’t call them “chickens”! Call them “consulting fees”! That’s ambiguous! If you call them “chickens,” everyone knows that (1) they are not chickens but (2) they are crimes.
Similarly if you worked at a chemical company that was helping out with Eastman Kodak Co.’s random pivot from being a blockchain company (?) in the blockchain boom to being a hydroxychloroquine company (?) in the pandemic, and you learned of that pivot and an accompanying huge government loan to Kodak, ?????(1) you should not have insider traded on that information, (2) you certainly shouldn’t have texted your cousin with that information so that he could insider trade on it, and (3) ugh come on with this:
Source: Kodak – Bloomberg
