Quote:
Originally Posted by opendoor
High income earners all over the country sold off assets to get them taxed at the lower 2015 rate.
|
Computers were not selling in anticipation of news. I'm not sure exactly what % of TSX volume comes from algorithmic computerized trading but in 2015 most of the volume on the NYSE was computerized. And Morneau Shappell is traded in the States too. So these major announcements do cause immediate reaction in the markets even if they are not a surprise. If you knew when the announcement was coming, it would be wise to dump your shares at the last minute to try to avoid the typical computerized sell off. Doing what every other high net worth stock holder did is one thing. But timing it like that is fishy. Pretty sure Jr told Sr exactly when to sell. It would be blatant if he bought them back at a lower price. But assuming he did not, it's just fishy.