Monday, June 26, 2017 1:58:48 PM
If Seymour's leakers are really just retail investors unwittingly acting as his "PR Macine", then they have already and repeatedly lost money by relying on his information.
For example, hearing from Seymour that he is "really happy" about Moffat's results would have influenced rational investors to either hold their position or buy more. Had Seymour instead privately revealed that he was "very disappointed" about dreadful results, that would certainly influence rational investors to sell, or at least to not buy more.
The purpose of insider-trading laws is to keep the playing field level. Any material information coming from company insiders to a select subset of the investing public, influencing their decision to buy or sell, is illegal regardless of whether it turns out to be true or false. (I'm not a lawyer)
A casual stroll through the lunatic asylum shows that faith does not prove anything. Friedrich Nietzsche
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