I think, regardless of right or wrong, that it happens all the time.
What would you have done.
I have a few friends in low places with big ears. They hear and know things, they are not board members but are in the know about their own respected companies. Let's just say the information they have is useable.
I have never relied, nor asked them ever about any of it, but we do share ideas and shoot sh|t about the stock market etc. We are all good guys, with good morals, and I wouldn't call us greedy.
But let's just say that two weeks ago, one guy slipped some info, and to keep it short, $10000 would have been worth $17500 today.
Now I look at this and say, whatever, it's cheating, and I'm not a cheater. Plus it's not worth going to jail for it.
But then I ask myself, there must be a sh|t load of people who wouldn't think twice about it.
What do you think?
I think most of the insider trading laws are wrong-headed anyway.
Certain members of our government have been known to engage in it quite blatantly and have grown quite rich from it. But they seem to have some kind of blanket immunity so they never get prosecuted for it... Meanwhile, Martha Stewart goes to jail.
"Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats." -H. L. Mencken
The most important thing you might ever watch: http://www.youtube.com/watch?v=ZPWH5TlbloU
OP: Kudos for maintaining your integrity. I'm of the opinion that the stock market is basically a rigged game anyway, so it wouldn't be too difficult for someone to use the "if you can't beat 'em, join 'em" rationale. I'm not in the market aside from 401k, so I can't say what I would do in your situation, but a cool 75% return would be extremely tempting.