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Matt Levine

A Good Reputation Is Expensive

Also 13(d) rules and insider trading cops.

Programming note: Money Stuff will be off tomorrow, back on Monday.

I don’t give investing advice around here, but I have been bullish on the Trump SPAC PIPE, the private investment in public equity deal announced last month by Digital World Acquisition Corp., the special purpose acquisition company planning to take Trump Media & Technology Group public. “The Trump SPAC PIPE Is Free Money,” was one Money Stuff headline, which is sort of like a buy recommendation? And I suppose that if Trump’s bankers at … it says here EF Hutton? … had called me up and offered me a slice of the deal, I probably would have subscribed for a bit.  But I see where these people are coming from: