Hey all. So I am a software engineer and have a fair bit of stocks in various places. I put most of my money into the big safe investments like VT but I also dabble a bit in riskier stocks. One method I have found work well for me is this:
- As a software engineer I interview a lot year round. It is frequent to job hop but also it is common to do interviews just for practice.
- As part of these interviews I get to know more about the companies like what they do, their business model, etc.
- The way this helps me (and what causes my friend to claim this isn't allowed) is I can ask stuff about why they're hiring and what projects they have coming up.
On point 3 they typically go more in depth and may provide answers like “we've had some layoffs, people left, etc” or “we have a big project being released soon involving XYZ and are building a team for it.”
Based off a lot of this information I will short or long their stock. This has worked well for me for a few years and has consistently gotten me a few extra thousand a month. Is this not allowed? They're telling me this information as someone who does not work at their company. I feel like it makes sense if I know they have some initiative in plans or they are downsizing or whatever that it will impact their stock.
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