Disclosure of Positions or Relationships?
Over at a financial forum...
Consider this, in order to obtain a FINRA Series 7 license, one must be sponsored by an existing firm (bank/broker/dealer) to sit for the exam. Upon passing, a CFA will take an investor's money to invest in their SPONSOR's funds.
Now that's a relationship which determines the investor positions. So the ho, only puts your money in their pimps funds? No conflict of interest there, right?
The latter depends on one's preference for pitching, catching, walking their side of the street, fishnets, CFM pumps, pom-poms or a fedora, walking stick and diamond in the back. One can be a Pusherman...
As for those TWITS, FTC, CFTC, SEC, FINRA, et al... Excepting the following ex post or ex ante: kiddie porn, criminal acts, terrorist activities or violations of RICO, in general you can utilize the internet or social media communication for almost anything within certain limitations. The internet was not created so one could see the Louvre, but also the lewd.
Most online financial advisory publications observe the following guideline:
To gain mind share and clientele, P posts almost daily on SA, occasionally sharing his observations and once in a blue moon, allows his weekly seminar to be open to the public.
We are not giving legal advice, nor are we being paid to do so. Bearing the above in mind, under theory and utilizing a broad interpretation.... P could publicly communicate his observations, opinion and positions, as long as there is disclosure of those positions and any relationships with the following caveats...
those communications must be honest, and must not be viewed as solicitations, false, misleading, fraudulent, rumor mongering or an attempt to manipulate those positions to his, a related or third parties financial benefit.
Even if the above opinion held true, considering the risk, who would want to engage in said activity? Further, if P was constantly sharing his expertise for free, that might render his current business model a moot point. Moving West...
Although, we repeat, grown ups have to make financial decisions for themselves, the SEC has charged individuals for committing securities fraud through the use of social media and we would not want to see this....
As far as disclosure of positions or relationships:
If you do not hold or do not plan to hold a position, you must disclose that fact.
If you hold or plan to hold a position, you must disclose that fact and the timing/nature of the position.
If you do not have a business relationship, and or do not receive compensation for mentioning a company, stock, investment or third party involved, you must disclose that fact.
If you have a business relationship, and or receive compensation for mentioning a company, stock, investment or third party involved, you must disclose that fact.
Disclosure - Business Relationships
I wrote this post myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock, investment or third party is mentioned in this post.
Information I/we believe is relevant to our disclosure:
Market manipulation through social media - SEC
Analyzing Analyst Recommendations - SEC
Top 50 Twits For Investors To Follow - 2017
Top 10 Twits - 2016
Top 10 Twits - 2013
Disclosure - Positions
I am/we are vertical at the moment and after plying ample amounts of rum, we intend to take a horizontal position within 16 hours to suck feathers and Out.
Oh, one last thing, regardless of which side of the street you walk on or light post you lean on, just be thankful for what you got....
Burr - Hey P – Can you send a tweet out that we are leaning /ES short here?... you really should be using Twitter like Musk. Say something like: "Our investors got short /ES and long /KC today. You still have a chance to get in!"... You HAVE to disclose a trade you are in. So if you tweeted out that "Coffee has strong fundy's here", you need to disclose that you are long coffee. That's all. So if you said that "Our traders are all leaning short /ES here below 2400 and long /KC at the 1.30 line" and then said if you had positions, you didn't do anything wrong.The Nattering One muses... Aside from the asinine misuse and abuse of social media by the incumbent President and Ol' Muskie Musk Rat, grown ups have to make financial decisions for themselves.
Consider this, in order to obtain a FINRA Series 7 license, one must be sponsored by an existing firm (bank/broker/dealer) to sit for the exam. Upon passing, a CFA will take an investor's money to invest in their SPONSOR's funds.
Now that's a relationship which determines the investor positions. So the ho, only puts your money in their pimps funds? No conflict of interest there, right?
P - If something comes up naturally, I'll talk about it and, because I have high standards, I was ranked "The most influential market analyst" on Twitter a couple of years ago. If I start using that to pump stocks I own – I doubt the people who follow me would keep doing so.
Batman - I applaud your stance on this. You should keep the highest standards and be beyond reproach. If I ever thought you would entertain anything like this I would run from the hills, and the site.
Rand - [P] Agreed: you have higher standards than financial institutions.More Nattering.... As for business ethics (a well known oxymoron) standards and practices, one can choose to remain sell side, buy side, independent, neutral and in P's case - maintaining high standards and being beyond reproach. Or one can be a cheerleader, whore or pimp.
The latter depends on one's preference for pitching, catching, walking their side of the street, fishnets, CFM pumps, pom-poms or a fedora, walking stick and diamond in the back. One can be a Pusherman...
As for those TWITS, FTC, CFTC, SEC, FINRA, et al... Excepting the following ex post or ex ante: kiddie porn, criminal acts, terrorist activities or violations of RICO, in general you can utilize the internet or social media communication for almost anything within certain limitations. The internet was not created so one could see the Louvre, but also the lewd.
Most online financial advisory publications observe the following guideline:
An author cannot write about a stock in the period of 2 market days before to 2 market days after purchasing or selling the stock.In most cases, the mitigating factors are the relationship (client, investor, broker/dealer, analyst, company representative or SME (subject matter expert)) and the nature of the communication (advisory, solicitation, prospectus, etc.). A private global forum for pay and open public communique without pay are horses of a different stripe.
To gain mind share and clientele, P posts almost daily on SA, occasionally sharing his observations and once in a blue moon, allows his weekly seminar to be open to the public.
We are not giving legal advice, nor are we being paid to do so. Bearing the above in mind, under theory and utilizing a broad interpretation.... P could publicly communicate his observations, opinion and positions, as long as there is disclosure of those positions and any relationships with the following caveats...
those communications must be honest, and must not be viewed as solicitations, false, misleading, fraudulent, rumor mongering or an attempt to manipulate those positions to his, a related or third parties financial benefit.
Even if the above opinion held true, considering the risk, who would want to engage in said activity? Further, if P was constantly sharing his expertise for free, that might render his current business model a moot point. Moving West...
Manipulation is intentional conduct designed to deceive investors by controlling or artificially affecting the market for a security. Manipulation can involve a number of techniques to affect the supply of, or demand for, a stock. This includes spreading false or misleading information about a company. - SECIn addition, there are a myriad of SEC requirements regarding the relationship, nature of the communication, the jurisdiction or territory in which the licensee operates, and the location of the intended audience. Said topic being beyond the scope of this missive, see here for a flavor of what the operator or broker/dealer might be up against.
Although, we repeat, grown ups have to make financial decisions for themselves, the SEC has charged individuals for committing securities fraud through the use of social media and we would not want to see this....
As far as disclosure of positions or relationships:
If you do not hold or do not plan to hold a position, you must disclose that fact.
If you hold or plan to hold a position, you must disclose that fact and the timing/nature of the position.
If you do not have a business relationship, and or do not receive compensation for mentioning a company, stock, investment or third party involved, you must disclose that fact.
If you have a business relationship, and or receive compensation for mentioning a company, stock, investment or third party involved, you must disclose that fact.
Disclosure - Business Relationships
I wrote this post myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock, investment or third party is mentioned in this post.
Information I/we believe is relevant to our disclosure:
Market manipulation through social media - SEC
Analyzing Analyst Recommendations - SEC
Top 50 Twits For Investors To Follow - 2017
Top 10 Twits - 2016
Top 10 Twits - 2013
Disclosure - Positions
I am/we are vertical at the moment and after plying ample amounts of rum, we intend to take a horizontal position within 16 hours to suck feathers and Out.
Oh, one last thing, regardless of which side of the street you walk on or light post you lean on, just be thankful for what you got....
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