It is not the responsibility of the purchaser to know information which is purposefully withheld from them. From the article
> Scott Sweet's multi-billion dollar hedge fund client flipped the stock at $42. His subsequent short made his firm its "largest profit of the year," Sweet said. There's "no way" a retail investor could have known about the lowered projections, unless he or she "had a friend at a multi-billion dollar institution," he added.
Please explain to me, when information is withheld from the purchasers and only specific clients notified as to circumstantial and meaningful changes to the state of the offering, how anyone could ever "know what you're doing?' In fact, Morgan Stanley was actively misleading investors by continuing to adjust the specifications of the offering to make it look better.
Analogy: If an automaker produced a new car which was secretly designed to become worthless (engine would fuse together) after 3 months and only told one rich people not to buy it, would that be fine? What if there come back was 'you could always open the hood and see our computer components which execute after 3 months, its not our fault you don't know what you're doing'
> Scott Sweet's multi-billion dollar hedge fund client flipped the stock at $42. His subsequent short made his firm its "largest profit of the year," Sweet said. There's "no way" a retail investor could have known about the lowered projections, unless he or she "had a friend at a multi-billion dollar institution," he added.
Please explain to me, when information is withheld from the purchasers and only specific clients notified as to circumstantial and meaningful changes to the state of the offering, how anyone could ever "know what you're doing?' In fact, Morgan Stanley was actively misleading investors by continuing to adjust the specifications of the offering to make it look better.
Analogy: If an automaker produced a new car which was secretly designed to become worthless (engine would fuse together) after 3 months and only told one rich people not to buy it, would that be fine? What if there come back was 'you could always open the hood and see our computer components which execute after 3 months, its not our fault you don't know what you're doing'