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March 5, 2008
Peter Lynch, Strips Clubs, Dwarf Tossing, etc.
This settlement today in the longstanding litigation involving payment for order flow at Fidelity in the Peter Lynch era is great fun to read. You don't see as many stories about dwarf tossing, uber-investors, and strip clubs as you should.
More here.
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This is like Goodfellas without the blood.
When did these guys actually have time to work?
And where are the brokers in this action? Looks like a lot of laws broken all around.
Kinda makes me wish I'd become a broker instead of a journalist. We NEVER get comps like that!
But, I am disappointed that there are no actual references to dwarf tossing in the document.
Just love the zillonaire philanthropist St Peter Lynch needing to lean on people for tix. What's the matter, couldn't dial the number for ticket broker himself, there's only about a 100 in the Boston area!
And the only guy who did time in the whole thing was the bookie who took the bets from the FIDO guy. That's right, the SEC started tracking things and tracing checks that were written and this idot was stupid enough to write a check to his bookie. (Bookie was dumb to take check, granted) Small time bookie gets questioned, tells the truth and does a year in jail. Thanks FIDO!!!