16 Aug 2016
From Tijuana with love: Neuromama
Bloomberg’s Matt Levine has a great article, published today, which begins with a discussion of the apparently-hollow shell company “Neuromama” (OTC: NERO), which – cue shocked face – is probably not in reality a $35 billion USD company, but quickly moves into a delightful discussion of insider trading, money market rates, an “underpants gnomes”-worthy business plan, and the dysfunction of the Commodity Futures Trading Commission. There’s even a bonus mention of Uber shares trading on the secondary market, which is something I’ve written about before. Definitely worth a read:
If you only read one section of it, the part on “When is insider trading a crime?” is, in my humble opinion, probably the best. (Memo to self: next time there’s a big insider-trading scandal, be sure to come back to this.) But really, it’s a good article. Okay, there’s a bit too much gloating about those stupid regulators and their stupid regulations for someone who isn’t a hedge fund manager to get excited about, but it’s fucking Bloomberg, that’s probably a contractual obligation to get printed there. Also it’s Congress’ fault anyway, as usual.
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