Did anyone see this story that just came out? Stud first-year out of NYU charged with insider trading. The idiot bought calls on EFI right before their acquisition by Siris Capital. What a fucking moron, only made $100K as well.
Relevant Salary & Bonus Data
Toronto - 2019
Toronto, ON - 2019
Toronto - 2019
Toronto - 2019
Toronto, ON - 2019
Minneapolis, MN - 2019
Wall Street Oasis Notifications
Please tell us a little bit more about yourself to send you the most relevant notifications
Get Notified?
Popular Content See all
- Immigrant, Homeless, Broke AF but FINALLY LANDS IB at a BB. If you can, read the whole story. Anyone out there that's gone through tough shit, heads up and never give up! My living situation as a child I was born in a third world country (middle east), very (and I cannot stress this enough) shitty living conditions. Dirt roads, little food,...
- Junior RBC Analyst Charged With Insider TradingDid anyone see this story that just came out? Stud first-year out of NYU charged with insider trading. The idiot bought calls on EFI right before their acquisition by Siris Capital. What a fucking moron, only made $100K as well.
- Is anyone else welcoming a recession?Sans Trump and his legionaries, feels like most are ready for a slight contraction right before things consolidate. Markets are up despite the inverted yield curve, but things are almost certainly likely to get worse before they get better, right? Trump goon Moore could barely even deny...
- Jeffrey Epstein Commits Suicidehttps://abcnews.go.com/US/jeffrey-epstein-accused-sex-trafficker-dies-suicide-officials/story?id=64881684 He was on suicide watch for months. That means they would have constant eyes on him. They would make sure his cell is pretty much bare of anything he could use to self harm. How the fuck...
- A Warning on Tobin & Co. I saw this post on Glassdoor and can confirm this is 100% true. Do not be blinded by the positive reviews as Justine (the MD) forces her employees to write them. -Terrible culture with toxic work envirnoment -Employees are “highly encouraged” (i.e. forced) to leave artificially positive...
- Monkey to Millions [APPLICATIONS OPEN!] - New Show & Podcast Coming - Free Mentorship + more**UPDATE: APPLICATION FORM IS OPEN NOW!!!!...and closing soon (phone invites starting to go out this week)** Fellow WSO Primates, I've been thinking of how we've been putting out a ton more AMAs + podcasts, etc lately and I want to double down on that since it seems like it's...
- What’s a CRITICALLY Important Concept That Most People Get Wrong?I saw this on twitter and I thought damn that's a good question. Someone else said "That time has far more value than money." I answered "still waters run deep" Someone's calm or quiet nature does not reflect their level of depth, likability, or...
- Millennials, porn addiction and erectile dysfunction[The great porn experiment | Gary Wilson | TEDxGlasgow](https://youtu.be/wSF82AwSDiU) [Porn Addiction](http://www.yourbrainonporn.com) What do you think about the growing online movements like noFap and the fact that by the time a kid is 12 he's seen more naked women than men would see...
- What do you guys do for lunch on the job?Hello fellow monkeys, This probably sounds like a joke, but I'm 2 months into the job and I'm burning a hole in my wallet going out to buy lunch everyday. I want to try and bring lunch from home a few days a week. What do you guys do for lunch if you bring it from home?
- World Class Capital (Nate Paul) gets raided by FBI?What I heard was Nate Paul's company World Class Capital in Austin is getting raided currently. Anyone know anything?
Leaderboard See all
| 1 |  | 97.4 |
| 2 | | 97.3 |
| 3 | | 97.3 |
| 4 | | 97.3 |
| 5 | | 97.1 |
| 6 | | 97.0 |
| 7 | | 97.0 |
| 8 | | 96.9 |
| 9 | | 96.9 |
| 10 | | 96.8 |
Upcoming EventsSee all
- Aug21
- Aug21
- Aug27
- Aug28
Comments (82)
God damn that was stupid...
Dude did it with his personal account too....
yeah, great risk-reward scenario there. get banned from finance for a lifetime for less than one year's comp.
Is there any chance that he has some great family lawyers and gets off with a slap on the wrist, or is that unprecedented for even the elite in wall st?
He may get off jail time but he's still never working in any reputable finance firm again. They may expunge his record in time, but the internet notoriety will live on.
- IB Course
- | Suggested Resource
Learn More7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.
Also from the article:
Classic NYU "values"where people give each other study materials with incorrect answers to sabotage their grades. Source: My NYU tour guide (!!!), even if only directionally true, a huge red flag and I ran as far and as fast away from that school as possible
Jesus that's fucked
https://www.stern.nyu.edu/programs-admissions/unde...
What is it like being the Student Council President, and what do you hope to accomplish?
LOL, and yikes..how long before this student interview profile mysteriously disappears from Stern's website
The complaint is pure comedy. Did he hope the SEC wouldn't notice that an inactive account happened to buy $30k of calls that expiring a few days after the deal announcement??
I'm totally astonished by his sheer idiocy
HUGE haul for the SEC. Congrats everyone, we got him
The trader is an idiot, he had access to non-public information and wasted his time to make off money when other people didn't know.
For a profit of less than his first-year salary.
Easy now, he was an investment banker, not a trader ;)
Did you know that JRR Tolkien stands for Jolkien Rolkien Rolkien Tolkien?
isnt s&t paid less base/bonus?
What concert costs 45 cents? 50 Cent feat. Nickelback.
He actually worked in Corporate Banking. Just another of one of Tsai Guy's schemes.
What a dumbass, wow. Didn't even try to hide it.
Poor kid. No one knows what he was thinking, but my guess is that he convinced himself that the information he was trading on wasn't material non public. I don't know how else you explain the fact that he doesn't appear to have even tried to cover his tracks.
He didn't report the account to RBC. This could seem like covering one's tracks if you're a moron
It sounds like he 100% knew what he was doing. Perhaps the student president of Stern and fresh IB analyst job got to his head? Pretty easy to think you're above the law after being on cloud 9 that early in life.
Here's another theory, since we all seem to be okay with armchair psychoanalyzing this guy: With his resume and ambition he believed that he was entitled to something far bigger and better than an analyst role at RBC.* So when the universe didn't deliver him what in his estimation should have been his, he just took it.
*Note: I work with RBC a lot and think it's a great firm populated by very competent and honest bankers.
Not even $100k. That's a short term capital gain, so after taxes he probably netted about $70k. Or would have.
just like my buddy at the gym would say, 'short term gain for long term pain'.
Wouldn't he have passed the SIE by this point? He can't say he didn't know ...
that's pretty dumb, the profit probably less than his salary
Blue horseshoe loves Anacott Steel
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
+SB xD
fuck me dead
What concert costs 45 cents? 50 Cent feat. Nickelback.
Pure gold Willy
Marky, Ricky, Danny, Terry, Mikey, Davey, Timmy, Tommy, Joey, Robby, Johnny and Brian.
And Willy
Willy? Will!
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
Maybe it's the NYU, but for some reason I envision this kid crying as he confesses in the SEC interrogation room.
Billy Tsai the insider trading guy!
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
Bill Tsai the Inside Guy, Bill! Bill! Bill! Bill!
I'm dead. This is the best.
from a reliable source:
WSO's COO (Chief Operating Orangutan) | My Linkedin
Maybe Because HK airport cancelled all flights
"You know the Fed's listening, n***a what money?" - DJ Khaled
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
Bill Tsai will not be doing any more Schemin'
That's the GOAT Lil Wayne*, on a Khaled track ;)
DJ Khaled could never come up with a line like that
That's Lil Wayne...
Money never sleeps, pal. Just made $98,750 on EFI. It's been wired to you. Play with it. You've done good, but you gotta keep doing good. I've showed you how the game works. Now School's out.
Oh shit wire me that money back I need to make bail
What concert costs 45 cents? 50 Cent feat. Nickelback.
Money never sleeps, pal. Just made
3,074,581 in Taiwan Dollars
https://www.google.com/search?rlz=1C1GCEA_en&ei=Dj... . It's been wired to you. Play with it. You've done good, but you gotta keep doing good. I've showed you how the game works. Now School's out.
Pooring one out for the old boy, Billy Tsai. God speed baby
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
On the bright side, for those of you recruiting - there may now be an open analyst position lol
And you know the specific group too!
Dear Mr. RBC TMT MD,
Through my regular market research of your sector I have found that it is very likely you will need additional junior support...
Funny how it's not reported anywhere but he was a corporate banking analyst.
Can corroborate
Corporate M&A
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
Whenever the title is "Corporate and Investment Banking Analyst" you know it's the former and not the latter.
LMAO so true.
Talk about an ego-death
He's taping out
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
Real question is, how did he get caught?
Some intern at the SEC wanted to impress his boss and get a return offer
how did someone spontaneously trading $30,000 worth of options that expired just days after a merger took place get flagged by the SEC???
I don't think it was spontaneous.
The SEC has numerous algorithms and data analytics tools that will flag anything that seems like illicit behavior. It was an Easy catch for them - a banker who hasn't traded much from an account decides to randomly spend 30K one day on something very niche.
He bought a shit load of calls 48 hours before a merger announcement? And FINRA/SEC know he works as a coverage analyst for the investment bank advising on the deal? How he got caught is the easy question to answer. The real mystery is how did this moron traverse through the interview/internship process well enough to be brought on full time.
RBC's interview process at NYU is resume submit->superday.
No one fucking knows why
Its pretty hard to believe that this kid totally spaced on the definition of insider trading, but it is just as hard to believe that a kid from Stern would think he could get away with this...
Maybe he got tricked??????? Nah he dumb.
Bill circa August 11th
Supposedly, he posted bail and is free for now. Ironically, the bail was the same amount of money he got from his insider trading.
Whats the chance he goes stern --> RBC insider trading analyst---> HBS---> Axe capital
More like:
Stern -> RBC (terminated) -> Ricker's Island Capital
"I went in with a bachelors in marijuana and came out with a doctorate in cocaine" - George Jung
Maybe I led you to believe that this was a God given gift and not something I worked for, every single day of my life.
What if his personal trading account in which he made $100k was only a bait for the SEC? What if he planned his arrest all along? What if he pocketed $10+M from another hidden account and is now laughing at all of us?
Honestly, I feel that we are missing a big piece of the story - just doesn't seem plausible that he was this dumb.
What's your theory chief ?
Why would he need bait if he had a hidden account all along? Are you seriously suggesting this dude purposely planned his own arrest and invited a firestorm of suspicion by one of the most powerful regulatory agencies in the world because he had another account they somehow wouldn't notice?
Sometimes people really are just this dumb. Look at people like raj rajaratnam and rajat gupta. Some of the biggest names in industry were caught because of their own stupidity.
The SEC is really good at catching insider trading.
My uncle, who was an SEC practice partner at a big NYC law firm told me "There are 2 kinds of insider traders: those that have been caught and those that will be caught."
If you want a career in finance, don't even think about trying it.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
Want to sign in with your social account?
Want to Vote on this Content?! No WSO Credits?
Join Us
Already a member? Login
Related Content
See morePopular Content
See all