Yesterday it came out that a couple of folks inside the SEC are being investigated on insider trading.
As if that alone weren’t amusing enough, the following details makes the story even more amusing (and pathetic and depressing)
The report, which blocked out the names of the employees and the stocks in question, says the female staffer traded 247 times during the period investigated (more than two trades a week), admits to a “keen interest” in the financial markets and held as many as 60 individual stocks worth as much as $170,000. By October 2008, the portfolio dwindled to 50 stocks worth $45,000.
Yikes! Insider trading and your portflio is down almost 75%!