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WEEK 7: INSIDER TRADING
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A study published in 2004 by Alan J. Ziobrowski of Georgia State University found that U.S. senators, on average, beat the market by 12% a year. “The results clearly support the notion that members of the Senate trade with a substantial informational advantage over ordinary investors,” Ziobrowski stated, noting that the law does not prohibit senators from trading stock on the basis of information acquired in the course of their work.
Wall Street brokerages, moreover, have made billions in recent years by using complex software to foretell