Welcome to the Eric Erickson Show podcast, Hour 2.

Greetings, conversationalists across America.

I'm delighted to have you with me.

It is Eric Erickson.

This happens to be my show.

Yes, face for radio, voice for print print you're stuck with me 877 973-725 if you wish to be on the program very very happy to

have you I gotta begin with this story from ProPublica.

I don't fought them.

Don't want anyone to hear me say ProPublica should not have done this.

Let me read you just the headline and the subtitle here.

Wealthy executives make millions trading competitor stock with remarkable timing.

Never before seeing IRS records show that CEOs are sometimes making multi-million

dollars bets on the stocks of direct competitors and partners and doing so

with exquisite timing on February 21st 2018 August Strundle an Ohio billionaire made a

remarkably well-timed stock trade he sold 1.1 million dollars worth of shares of Cineos health. The day before a

management shakeup caused the company's stock to plunge 16%. It was the largest one day drop that

year for Cineosis share price. The company was one Trottle Newell. He is the CEO of MedPace, one of Cineos' chief

competitors in a niche industry. Both Cinios and MedPace handle clinical trials for biopharma

companies in that year they had jointly launched a trade association for companies in the field.

The day after selling the Cineo shares in February 2018,

Toronto bought again at least $3.9 million worth. The value of a Cineo's stake then rose 75% of the year that followed.

In February 2019, Toronto sold much of that position, netting $2.3 million in profit.

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