The way I understand the rules on trading on inside information, it's very vague.
Sentiment: NEGATIVE
You take the noise and put it in data information knowledge, and you get insight from that knowledge. How to execute the trade, the timing, sizing, long, short, and then you risk manage it.
Trade isn't about goods. Trade is about information. Goods sit in the warehouse until information moves them.
Information imposes certain criteria on how it can be stored.
The buyer, the prospect, the customer expects you to have knowledge of their stuff, not just your stuff.
The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
I had always been interested in markets - specifically, the theory that in financial markets, goods will trade at a fair value only when everyone has access to the same information.
Our theory is, if you need the user to tell you what you're selling, then you don't know what you're selling, and it's probably not going to be a good experience.
So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices.
Information's pretty thin stuff unless mixed with experience.
In some respects, inside information is a form of financial steroid. It is unfair: it is offensive; it is unlawful; and it puts a black mark on the entire enterprise.