blog.steliosx

Testing ping.fm

Wed, 27 Jan 2010 11:38:03 +0200

Testing ping.fm

Interview with Timothy Ferriss (4HWW) , Ta Nea newspaper

Mon, 23 Jun 2008 15:05:00 +0300

I had the pleasure to meet Timothy Ferriss in Ios recently, during Greek Blogger Camp 2008.

See below for my interview with him.

The greek version of the book is already in the works, to be published by Klidarithmos publications

Tim Ferriss interview - TA NEA newspaper

http://digital.tanea.gr/subscribers/Page.aspx?d=20080623&pn=39

More (Really) Stunning Desktop Wallpapers | Graphics | Smashing...

Wed, 04 Jun 2008 21:35:43 +0300

More (Really) Stunning Desktop Wallpapers | Graphics | Smashing Magazine

The first step towards Ocean Colonies —...

Wed, 04 Jun 2008 20:53:53 +0300

The first step towards Ocean Colonies — “Seasteading”

(via Wired)

Much-hyped Microsoft's WorldWide Telescope - download your copy for free

Tue, 13 May 2008 09:49:28 +0300

Much-hyped Microsoft's WorldWide Telescope - download your copy for free

"New York entrepreneur Jeff Dachis has landed $50 million from Austin Ventures to fund a comeback"

Tue, 29 Apr 2008 00:34:03 +0300

“New York entrepreneur Jeff Dachis has landed $50 million from Austin Ventures to fund a comeback”

- Razorfish founder Jeff Dachis returns, trading New York for Texas

Small Industry Chamber of Thessaloniki

Wed, 16 Apr 2008 20:14:09 +0300

Small Industry Chamber of Thessaloniki

The Adventures of Johnny Bunko

Sun, 13 Apr 2008 04:27:27 +0300

The Adventures of Johnny Bunko:

first english business book in Manga

MS' LifeBits, scary stuff

Thu, 10 Apr 2008 14:05:38 +0300

MS' LifeBits, scary stuff

Google Email Uploader

Sat, 05 Apr 2008 15:47:44 +0300

Google Email Uploader:

Recently started using Google Apps and wondering what are you gonna do with your old emails? just upload them with the new google email uploader

"Static IPs, and independent infrastructure zones on Amazon EC2"

Fri, 04 Apr 2008 02:16:04 +0300

“Static IPs, and independent infrastructure zones on Amazon EC2”

- Slashdot | Amazon EC2 Now More Ready for Application Hosting

JP Morgan Private Bank insider trading how-to

Fri, 04 Apr 2008 01:23:00 +0300

A confidential memo obtained by Wikileaks shows that not only has the U.S. Securities and Exchange Commission created an insider trading loophole big enough to drive a truck through, but that Wall Street is taking full advantage of it, establishing ‘how-to’ programs and even client service divisions to help well-heeled clients circumvent insider trading regulations.

Most of us think of insider trading as illegal. It allows those with inside knowledge to tilt the playing field, with the small investors invariably losing to the privileged few. Unfortunately for the small investor, the big boys get to play by different rules, and it has all been made legal, thanks to the SEC.

In 2000 the SEC promulgated Rule 10b5-1. The new Rule was designed to address the confusion caused by a series of court decisions that had left investors uncertain about what constitutes insider trading. Rule 10b5-1 was designed to “clarify” what constitutes illegal insider trading.

But top Wall Street houses were not to be deterred from advantaging their big clients at the expense of their small ones. Wall Street firms like JP Morgan found loopholes in Rule 10b5-1 that allowed them to continue trading on inside information “legally.” Indeed, JP Morgan has gone so far as to set up an entire ‘selling program’ within its Securities division to help their clients profit from the loophole.

Documents obtained earlier this month by Wikileaks from JP Morgan Private Bank, which subtitles itself as “World class solutions for wealthy individuals and families”, show the firm has a dedicated ‘10b5-1 Selling program,’ along with a ‘dedicated 10b5-1 team’ to help its clients take advantage of the loophole.

Here’s how it works:

1. An insider client transfers all or a portion of their company stock into a JP Morgan Securities Inc. brokerage account.

2. The insider then develops, in conjunction with the 10b5-1 team, a ‘phased, pre-planned sales program to be executed at either market or specified prices’.

3. Depending on the information available to the insider (but not the public), the insider can decide whether to execute the sale or not.

By gaming the system this way, JP Morgan teaches insiders how to use their knowledge to create a rigged market, one in which it is the “house” that always wins, and the small investor that always loses.

Alan D. Jagolinzer, an assistant professor at Stanford University Graduate School of Business, completed a study of roughly 117,000 trades in 10b5-1 plans by 3,426 executives at 1,241 companies. He found that trades inside the plans beat the market by 6% over six months. By contrast, executives at the same firms who traded without the benefit of plans beat the market by only 1.9%.http://businessweek.com/magazine/content/06_51/b4014045.htm

One can only guess at how many insiders profited under JP Morgan’s “insider trading program,” leaving small investors holding the bag.

Part 2: PriSM loopholes let CEOs walk away to tax free profit while their companies implode

Sample list companies and executives using pre-paid variable forwards, from page 14 of the confidential JP Morgan memo obtained by Wikileaks

GAWKER.COM
Monday March 17, 2008

Wikileaks obtained a JP Morgan presentation put together for media mogul Barry Diller, showing Diller how to protect his personal wealth against any, erm, hypothetical future declines in the value of his internet conglomerate IAC. The techniques outlined in the 31-page document (PDF) neatly circumvent restrictions on insider trading but are really only useful for insiders who anticipate their company shares will decline, since stock price increases are limited along with declines. For example, here was the plan presented to Diller in February 2007:

In the first scenario presented to Diller above, “Structure A,” his shares would be guaranteed at their then value of $40.58, but Diller could never realize a price increase to beyond $44.64 per share.

Sure enough, in the year after entering in to the “complex series of transactions,” IAC shares declined 50 percent, while Diller was protected, at least according to the leaker who provided the document.

Government or company regulations may have prevented Diller from outright selling his shares at the time, but even if they hadn’t, announcing a “pre-arranged stock trading plan” in a press release sounds so much better than disclosing in an SEC filing that you are dumping a bunch of shares, as illustrated by the sample press release included in JP Morgan’s presentation to Diller. Here’s the top of one:

Not that Diller’s tactics are surprising; these sorts of crafty tactics are exactly how the ruthless mogul retains control of his company against the wishes of his dominant shareholder and apparent teacher, John “Darth Vader” Malone.

First appeared as: http://gawker.com/5003973/leaked-doc-shows-how-barry-diller-protected-himself-against-iacs-tumble

See

See the full confidential JP Morgan Private Bank insider trading memo:

JP Morgan Private Bank insider trading how-to

JP Morgan Private Bank was successfully contacted by Wikileaks, but chose not to respond when asked to deny the report.

For more information on this release, please email press@wikileaks.org

Additional contacts:

JP Morgan Private Bank

http://www.jpmorgan.com/pages/jpmorgan/private_banking

Prof. Alan D. Jagolinzer

http://www.stanford.edu/~alanj1/

Tax Justice Network

http://taxjustice.net

"On “The Psychology of Human Misjudgment” from Warren Buffett’s partner and..."

Wed, 26 Mar 2008 02:28:32 +0200

“On “The Psychology of Human Misjudgment” from Warren Buffett’s partner and Vice-Chairman at Berkshire Hathaway, Charlie Munger”

- blog.pmarca.com: The Psychology of Entrepreneurial Misjudgment, part 1: Biases 1-6

The Disconnect Between Management and the Value of IT

Mon, 24 Mar 2008 17:10:46 +0200

The Disconnect Between Management and the Value of IT

Apple adds Exchange support to iPhone, unveils SDK | The Industry Standard

Thu, 13 Mar 2008 18:46:17 +0200

Apple adds Exchange support to iPhone, unveils SDK | The Industry Standard:

It looks like Apple is getting on the corporate mobile email market through a backdoor..

Video: Twitter in Plain English

Tue, 11 Mar 2008 22:06:03 +0200

Video: Twitter in Plain English

Five Wordpress “CMS Enabling” Plugins

Tue, 04 Mar 2008 23:02:08 +0200

Five Wordpress “CMS Enabling” Plugins

Corporate email privacy in Greece - Should the employer read employees' emails?

Tue, 26 Feb 2008 20:39:25 +0200

Corporate email privacy in Greece - Should the employer read employees' emails?

Digital Outlook Report 2008

Tue, 26 Feb 2008 19:42:00 +0200

Avenue A Razorfish

released the Latest Digital Outlook Report

via

"Fast decisions preserve usable attention for what matters."

Sun, 17 Feb 2008 16:09:07 +0200

“Fast decisions preserve usable attention for what matters.”

- Tim Ferriss’ blog: The Choice-Minimal Lifestyle: 6 Formulas for More Output and Less Overwhelm

blog.steliosx

Testing ping.fm

Interview with Timothy Ferriss (4HWW) , Ta Nea newspaper

More (Really) Stunning Desktop Wallpapers | Graphics | Smashing...

The first step towards Ocean Colonies —...

Much-hyped Microsoft's WorldWide Telescope - download your copy for free

"New York entrepreneur Jeff Dachis has landed $50 million from Austin Ventures to fund a comeback"

Small Industry Chamber of Thessaloniki

The Adventures of Johnny Bunko

MS' LifeBits, scary stuff

Google Email Uploader

"Static IPs, and independent infrastructure zones on Amazon EC2"

JP Morgan Private Bank insider trading how-to

Part 2: PriSM loopholes let CEOs walk away to tax free profit while their companies implode

See

See also

"On “The Psychology of Human Misjudgment” from Warren Buffett’s partner and..."

The Disconnect Between Management and the Value of IT

Apple adds Exchange support to iPhone, unveils SDK | The Industry Standard

Video: Twitter in Plain English

Five Wordpress “CMS Enabling” Plugins

Corporate email privacy in Greece - Should the employer read employees' emails?

Digital Outlook Report 2008

"Fast decisions preserve usable attention for what matters."