Friday, May 28, 2010

Weird cases 3

Taken from this blog, a rather funny SEC complaint filing about to wannabes Disney inside traders:

The defendants are Hoxie, an administrative assistant to a high-level executive at The Walt Disney Company (“Disney”), and her boyfriend, Sebbag. Beginning in March 2010, the defendants sent numerous hedge funds anonymous letters offering to provide the funds with inside information about Disney’s quarterly earnings in exchange for a fee.

At least twenty hedge funds received these letters:
Hi, I have access to Disney’s (DIS) quarterly earnings report before its release on 05/03/10 [sic]. I am willing to share this information for a fee that we can determine later. I am sorry but I can’t disclose my identity for confidentiality reasons but we can correspond by email if you would like to discuss it. My email is eilatcap@gmail.com. I count on your discretion as you can count on mine. Thank you and I look forward to talking to you.

These are some of the emails the girl or her boyfriend sent to an undercover FBI agent
First of all, i am not a fed, I have no way to prove it at this point but i am not asking you to disclose your identity not i will disclose mine. It is up to you to determine if this is worth the risk as i did. I work for Disney, that is all i can tell you.

I can deliver 3 to 4 days before release. I will email you the report as soon as i have it and you will wire transfer the money to my account after you get ahold of it. I am asking you to make me an offer based on the capital gains from the trade and the risk i am taking delivering this information to you? Also, i am looking to build a strong business relationship with you for future quarters and information.

And a very smart one:
I dont think we will get caught if we stay discret and careful. You can count on my discretion as i am counting on yours...They wanted 15k/20k or "how about doing a 50-50 profit sharing from your trades? Does that sound fair to you?"

The best bit is when they start stressing out on the day beacause Hoxie cannot get her hands on the report
Hoxie e-mailed Sebbag: “I told you that you were going to be waiting...” Sebbag responded “Just hurry up,” to which Hoxie replied “I have no control over this. Patience is a virtue.” Still waiting for the information later that day, Sebbag urged Hoxie to “Get things moving with all the powers you have.” Hoxie replied “3 hours have come and gone what is another hour at this point. Chill.”

“What would you suggest I do. If I could wave my magic wand and give you what you want – I would. However, since that is not going to happen I suggest you call on you inner Buddhist – and CHILL the f’ out.”

But why did they want to do this in the first place? Well, a handbag.
Hoxie stated “here is the bag that you are going to get for me – thank [sic],” and attached a link to a picture of an expensive Stella McCartney designer handbag available for $700 at Neiman Marcus [...] Sebbag stated “I may be able to [buy] u 2 of them, lol.” Hoxie responded via email, “In that case, i also love love these shoes” and attached a link to a picture of expensive Stella McCartney shoes also sold at Neiman Marcus.

They then met the undercover FBI agents and asked how they could go about opening an offshore account to transfer the money. Oh dear.

Thursday, May 27, 2010

The end of an era

Dear Colleague,

According to our records we believe that as of 26/06/2010 you will no longer be a member of Imperial College and therefore your Imperial College account and mailbox will therefore expire on 26/06/2010 at 00.01 am


(the email is still redirected and working though, no worries!)

Google birthday calendar

Just found out that there is a Public Google Calendar for creating a calendar of the birthdays of gmail contacts. Nice.

Thursday, May 13, 2010

Rebuilding rebuilding rebuilding

I hear a lot of politicians say they want to "rebuild society", "rebuild Britain", "rebuild politics", rebuild this, rebuild that. David Cameron the other day was going on about rebuilding family, rebuilding community, above all rebuilding responsibility.

I am not sure all this "rebuilding" is necessary, or desirable. Although these are certainly challenging times, it's not like everything is broken beyond repair. All right, we shouldn't take it literally. But with so many good things around, the rhetoric could be a bit more inspiring.

Wednesday, May 12, 2010

On proportional representation

There is a good video of John Cleese explaining PR, more actual than ever now.


Is it really just as simple and fair? I think not.