Matt Levine, Columnist

The 10 Laws of Insider Trading – So Far

No. 1 says it all: Don't do it.

August 12, 2018 at 1:00 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

No. 1 says it all.
Jessica Karl/Bloomberg

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This post originally appeared in Money Stuff.

The other day I formulated a Ninth Law of Insider Trading, which is “if you are already under a federal ethics investigation about your ownership or promotion of a stock, don’t insider trade that stock.” But I had forgotten, as I sometimes do, that I had already formulated a Ninth Law, back in October 2017. That one was “If you are going to insider trade, do it in a company that is far away from a Securities and Exchange Commission office. Like, physically.” So I guess the one about ethics is the Tenth Law. This was pointed out to me by reader Mike Peattie, who emailed: