Recently, former Cleveland Browns linebacker Mychal Kendricks and Damilare Sonoikia, a writer for the TV show “Blackish”, were charged with insider trading.
I’m writing about this because I want my readers to know what insider trading is. Very simply, you are committing insider trading when you receive information about a company before that information has been disseminated to the public, and decide to use this material information and purchase stocks or options.
Now, the mission of Wealthy Joe Investing is to introduce, educate, and inspire the world to invest. Having said that, let me take this opportunity to inform you that if you are ever in a situation in which you can profit from insider trading, DON’T DO IT.
No matter how tempting it may be, DO NOT EVEN CONSIDER IT.
Not only is insider trading illegal, but it is impossible to get away with it. Impossible.
For more information geared to new investors, please pick up a copy of my guide, The Stock Market is For Everyone. This book also makes a great gift for the new investors in your life!