This article by an SI “legal analyst” is worth reading, but I’m flummoxed how guys getting paid for their analysis so consistently get things so wrong.
I can’t tell you how many times I’m seen articles that don’t make the distinction between Clorox options and Clorox stock. It’s the difference between betting someone it will rain at least five inches in Miami in 2014 and betting it will rain five inches in Miami on the 4th of July. One would require knowledge of Miami’s weather, the other knowledge of, well, some pretty remarkable inside information.
Here’s another common mistake, from the SI legal analyst:
The statute of limitations on insider trading is five years, which means the government only has until 2016 to act against Mickelson.