Jennifer (the car) is due to be sold this coming Tuesday. The buyer hasn't even seen the car, but he's so taken by it he's already put a $200 deposit. He's flying in to Perth this Tuesday, whereby he will see the car for the first time, decide if it's fine, and conclude it right away. In fact, he's already gotten insurance cover for it. So, yep, it's quite crazy. I find that I get the weirdest luck sometimes. Buying a car without even seeing it? Weird, big time. But good.

I really do get quite alot of good luck at times (finding this ideal buyer for one, and finding passwords to forbidden riches being another). Like, wow, why me? See, the strokes of luck I get are polarizing indeed, very good or very bad. But I've harped on this for umpteen times. The car should be 75% certain of being sold.

My mum and bro just left Perth, carrying with them about 10-12kg of my stuff, including speakers. I look at my room now, it's getting barer and barer, and it's gonna be when I head back to Singapore this Friday to be with my dearest for her 21st birthday. In fact, I don't even know what else I can bring back at this point of time. So, yep. For the month before I finally graduate and get out of this dreaded place, I'll be crippled (no car), and without my speakers and Warcraft 3, nothing much else I can do for entertainment. Not even a TV. I do hope this will help me focus on my work (way behind now), eBay (time to get things back on track AGAIN), details to be settled before I leave, which I'm left with only one or two, and of course, making sure Yucui doesn't run away from me! BWAHAHAHA.

Things are good. I like things. What with a proposed trip to Bangkok at the end of the year, possibly a short teaching stint at Zhizhong's place, visiting my grandmother (oh I miss her so very much) and trying to make the best out of eBay while at the same time preparing myself for job interviews after job interviews (I would really prefer it if the plural was dropped).

I was doing TSM readings for this week on insider trading. And I'm intrigued. Insider trading obviously has had alot more negative press about it than it really else. Academics actually speak in favour of it, not sure if they would continue to do so if they were on the opposite end of an insider. But the thing is, don't insiders contribute to price discovery? Well, right, they are obviously the ones who benefit, but the market rewards information, not the effort put into obtaining that information. It is starting to appear to me that insider trading has been crucified in order to maintain some level of liquidity and and attract small investors to the market.

I mean, look, the information is gonna change prices anyway. The net effect is that no matter who holds the shares at the point of announcement, either the investor or the insider gets the profits. It really is an issue of fairness, more of a moral issue rather than an economic one. Adverse selection costs are when dealers factor in the chance of trading with an informed trader and losing out. But hey, I'm sure dealers would be able to factor in the existence of insiders into their spreads to hedge the risk. So effectively insider trading is part of an efficient market, and stemming it makes markets less efficient. The thing is, if eliminating insider trading means that adverse selection costs are lower, that means that a less efficient market is actually more liquid.

The efficient market doesn't seem to be very ideal, not one that regulators want. They prefer a liquid one, and the two seem to be inversely related.

Never mind me, I had no other place other than my blog to jot this down. This is my pet unit after all: I better do damn well at it. It's my last shot at some gold.