Euro's Loss = Gold's Gain?

Not only is the world bizzare, it is more bizzare than you can possibly imagine. I think all of this amounts to basically nothing. If AM had foreknowledge of actions planned by a large market participant in a small market, this will, of course, correlate to price movements but doesn't amount to evidence of a crime. And that is the problem. What constitutes good market analysis and what constitutes fraud? I could say with some justification that the price of MO will move up during the two weeks leading up to the ex-dividend date. Does that mean a crime is in progress, or is it just observation of the behavior of other market participants? It's a very tough call.

 

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I mostly agree, except that it can't just be observation of behavior since the behavior came after the call. Either way it leaves little doubt about inside knowledge, but yes, that is still not evidence of fraud in and of itself. That assertion rests on whether Mr. Maguire is telling the truth or not which is unknowable for certain for everyone except himself.

 

I agree.

 

That would be my inclination as well sir, as I hate any form of injustice. However, in business that would stand to lose $100 million in profits while fighting the fine, no guarantee it would be overturned, and Corporate head office/accounting disclosure concerns/shareholders to worry about/account to, many times you must hold your nose and do what is most practical.

It sucks all around, but with millions of dollars on the line and people's livelihoods at stake, most in business do not have the luxury of always standing up for your convictions unfortunately.