insider trading?

ei.sdraob

after reading this

http://www.independent.ie/national-news/desmond-sells-off--shares-in-top-banks-1872818.html

2 words spring to mind > "insider trading"

since the whole collapse and then somewhat of a recovery in our 2 main banks was due to confidence, lack off

did this guy get a tip off from FF that they will support the banks at all costs and its not a bluff by the government?

something about making millions in profit during the worst recession in very long time on back of bankrupt banks smells very fishy to me

ei.sdraob

ooops wrong forum

can this thread be moved here please

http://boards.ie/vbulletin/forumdisplay.php?f=1196

and this post deleted thanks and sorry

RealityCheck

I reckon its just common sense.

However, he was a great friend of one Charles J Haughey, and a high profile Fianna Fáil supporter so who knows .

ei.sdraob

RealityCheck wrote: »

I reckon its just common sense.

However, he was a great friend of one Charles J Haughey, and a high profile Fianna Fáil supporter so who knows .

I dont think so, even with hindsight its a bit dodgy

I remember the stock markets around that time of year, there was a reason why the stocks were so cheap, there were worries of nationalization, no mention of nama and the whole economy here and abroad appeared to about to implode

one does not spend millions on such a gamble unless they have alot of money to waste (at the time when money is king) or know its a sure bet

Joey the lips

I dont know how its insider tradeing but i would agree that the goverment should have put some protection in place on the share market to prevent someone buying in when the bank was low.

But then again you have to ask yourself did Dermot Desmond bestow confidence in the banks by investing causeing more investors to take shares driving up the cost of the share to its current!

I think the proof will show in the banks share value over the next few weeks.

Taxipete29

Guys like Desmond didnt get to be billionaires by playing it safe.

The stock dropped significantly in march and he was losing money at that point. The fact that he has decided to cash out his profit during these very uncertain times should not be a surprise. Temporary nationalisation of the 2 main banks may occur even with Nama. Where would his money be then??

Lol at saying people shouldnt be allowed to buy in when the share price is low. How the hell is the price ever going to go up if its not being bought or sold??

The guy saw an oppurtunity to make money and he did. God forbid people might be able to make a few quid in a recession.:rolleyes:

ei.sdraob

Taxipete29 wrote: »

Guys like Desmond didnt get to be billionaires by playing it safe.

The stock dropped significantly in march and he was losing money at that point. The fact that he has decided to cash out his profit during these very uncertain times should not be a surprise. Temporary nationalisation of the 2 main banks may occur even with Nama. Where would his money be then??

Lol at saying people shouldnt be allowed to buy in when the share price is low. How the hell is the price ever going to go up if its not being bought or sold??

The guy saw an oppurtunity to make money and he did. God forbid people might be able to make a few quid in a recession.:rolleyes:

the problem is not him making money, if he did it honestly then fair ****s play to him

the problem is if himself and others are in bed with FF hence they know they can make safe and profitable investment decisions, which is definition of insider trading

To be honest you'll just have the FF fan boys in here defending them as per usual.


But time and time and time and time and time again when wealthy FF supporters and FF are involved in something like this, if it looks dodgy it more than likely is.

ei.sdraob

with the banks "nationalised" in anything but name

any tip offs from fianna fail about their real intentions towards the banks means big money to be made by the people in the loop

I can smell another tribunal a decade from now



Dermot's wikipedia page is very interesting
checkout his private jet and his residency in Ireland, Gibraltar (a tax heaven), Barbados , also his past connections to banking and current betting operation (surprise surprise)
http://en.wikipedia.org/wiki/Dermot_Desmond

he is also mentioned in a book for his work with FF and Revenue :P
http://books.google.ie/books?id=i3u7AAAAIAAJ&pg=PA139&lpg=PA139&dq=Dermot+Desmond+fianna+fail

and this highly illuminating article in indo from 2004
http://www.independent.ie/opinion/analysis/inside-the-mind-of-dermot-desmond-151194.html


i dunno very fishy

RealityCheck

Taxipete29 wrote: »

Lol at saying people shouldnt be allowed to buy in when the share price is low. How the hell is the price ever going to go up if its not being bought or sold??

Funny you say that, so you think its ok for someone to make money out of buying shares in banks that the government are keeping alive by injecting capital and the likes? There would be no banks without government intervention. A bit of a joke really. What has Dermot Desmond done for our beleagered banks? With the money the governent invested we could have bought all the banks ourselves, and god forbid make a profit sometime for all our efforts.

Taxipete29 wrote: »

The guy saw an oppurtunity to make money and he did. God forbid people might be able to make a few quid in a recession.:rolleyes:

I suspect that was all it was. Nothing more.

Taxipete29

ei.sdraob wrote: »

the problem is not him making money, if he did it honestly then fair ****s play to him

the problem is if himself and others are in bed with FF hence they know they can make safe and profitable investment decisions, which is definition of insider trading

How can any investment in AIB or BOI be considered safe and profitable??

Its only insider trading if he has knowledge not available to the whole market. I doubt the Government would of been able to offer any assurances concerning the future of the banks back in Jan considering the future is still unclear, even after the announcement of Nama.

I am no FF supporter nor am I a great lover of people like Desmond. I do not however see a conspiracy theory around every corner and tbh thats all this is. I dont see anything dodgy in an obvioulsy astute investor taking a shot and scoring nicely.

Would you of seen it as insider trading gone wrong if the Govt had to nationalise the banks and he had lost his investment?? I dont think so.

ei.sdraob

Taxipete29 wrote: »

How can any investment in AIB or BOI be considered safe and profitable??

Its only insider trading if he has knowledge not available to the whole market. I doubt the Government would of been able to offer any assurances concerning the future of the banks back in Jan considering the future is still unclear, even after the announcement of Nama.

I am no FF supporter nor am I a great lover of people like Desmond. I do not however see a conspiracy theory around every corner and tbh thats all this is. I dont see anything dodgy in an obvioulsy astute investor taking a shot and scoring nicely.

Would you of seen it as insider trading gone wrong if the Govt had to nationalise the banks and he had lost his investment?? I dont think so.

Ok lets say you are an investor last spring, BOI and AIB shares are at rock bottom, no sign of any plans for NAMA yet, and very real danger of nationalization pushing the stock prices down

If you are told by your politician buddy that the government will do everything to keep the ships afloat up to and including making the taxpayers pay for it for decades but not nationalizing under any circumstances

would you not invest?


the reason the prices were so low is that there was a real risk of nationalization, if you were in the "golden circle" (whatever happened to them) and were told there would be no nationalization but other plans exists but no one is told yet, would you not put in a bet knowing its safe?

this guy has quite a history behind him

Taxipete29

RealityCheck wrote: »

Funny you say that, so you think its ok for someone to make money out of buying shares in banks that the government are keeping alive by injecting capital and the likes? There would be no banks without government intervention. A bit of a joke really. What has Dermot Desmond done for our beleagered banks? With the money the governent invested we could have bought all the banks ourselves, and god forbid make a profit sometime for all our efforts.




I suspect that was all it was. Nothing more.

I think that he is allowed to do it. Thats the way markets work. I am not in favour of it and dont agree with it on an idealogical level but its the reality of the situation.

I dont blame Desmond, he is looking after himself. I blame the Govt for its inept handling of the whole sitaution. The banks could not be allowed to fall, but they should of been nationalised temporarily.

Taxipete29

ei.sdraob wrote: »

Ok lets say you are an investor last spring, BOI and AIB shares are at rock bottom, no sign of any plans for NAMA yet, and very real danger of nationalization pushing the stock prices down

If you are told by your politician buddy that the government will do everything to keep the ships afloat up to and including making the taxpayers pay for it for decades but not nationalizing under any circumstances

would you not invest?


the reason the prices were so low is that there was a real risk of nationalization, if you were in the "golden circle" (whatever happened to them) and were told there would be no nationalization but other plans exists but no one is told yet, would you not put in a bet knowing its safe?

this guy has quite a history behind him

Just to clarify, he bought in Jan and then the price fell further in march. The plan was really working at this point.

I might take the risk, but its still a risk. Nobody knew what was going to happen for sure. Nationalisation was always a possibility and still is. The Govt may not want to do it but they may have to.

nesf

ei.sdraob wrote: »

ooops wrong forum

can this thread be moved here please

http://boards.ie/vbulletin/forumdisplay.php?f=1196

and this post deleted thanks and sorry

Done.

is_that_so

A no-brainer tbh. €2.2 million profit could certainly turn my head. This is what Desmond does - makes money. First post in Investments thread here back in March had BOI @ 12c.

Jaysoose

I think the mass paranoia is getting a bit silly now.

Would you take any tips as to what the share price of the banks are going to do from that useless shower in the dept of finance? i know i wouldnt considering they are incapable of doing basic maths.

Desmond saw a reasonable oppurtunity to make some pocket money and tokk a chance, big deal.