yup, it is illegal. but it happens every month. not going to say any more.
plus is it unethical if your fund manager who manages billions gets his advice from a salesman… a salesman whose temperament (or lack of) prevents him from holding the same stock for longer than two weeks and someone who can’t handle a paper loss of more than 5%? that is his temperament. do ppl want their life savings managed by a manager who gets ideas from people like that? how do ppl feel about their life savings being managed by a manager who depends on ideas from a trader who knows less about the economy than the hot dog guy on the street and has the attention span of a goldfish?
how do ppl feel when there are companies who accept money to pack the book to give the illusion that the stock of some obscure junior company is more liquid than it is?
how do ppl feel about watching these clowns on BNN come on TV and rattle off their uninformed opinions about every stock on the TSX? I’m a cricket fan but if you were to ask me my opinion on international players… I would only have an informed, in depth opinion on maybe 20 players… tops. that’s a whole lot less than the stocks on the TSX. but these idiots have an opinion on every stock. never seen one of them say… sorry not familiar with that company.
that is my other beef. it is a company… not a stock or a ticker or a piece of paper. once upon a time, the stock market was a source of funds for real businesses who made real things. it was there to serve real businesses. now the stock market is a business by itself that eclipses and dictates to real businesses… a business built on the foundation of gambling.