Instant profit loophole

One of my favourite shortcuts is to put up stocks / bonds I own for sale and then buy them myself. Get’s you the buy /sell bxp returns without having to ask a partner to do the other half of the transaction…
A pity this will probably now be closed. :slight_smile:

Thanks to spirit for finding it… If you happen to have a big holding in a few top performing stocks, you can sell your entire holding to yourself, at whatever current max price is, and book the profit. I think it will grant the difference between your cost price (or IPO price) and your sell price as profit. EG I just sold 135k shares of Savage at 17546 and booked around 1.5 billion profit that I didn’t actually earn. If you do that every alternate day rotating around your portfolio, it will instantly make a mockery of the total profit ranks…

Yikes, a loophole that will need to be fixed. We do allow buying your own stock which cancels the shares and increases the share price (called a “stock buy back” in the real world of finance). But you should not be able to act as both seller and buyer.

What sounds unusual though is that if you are both buyer and seller you should only be trading your own money, not earning new profit. And you would lose the brokerage fee. Not sure where this phantom profit is coming from.

Fixed! A player cannot buy his/her own listing on the Secondary Market.

Yes fixed and for bonds too. That’s good although players think more laterally than that…

A player and a business partner can still buy and sell the same quantity of the same stock to each other and both book the excess profit. There is still something amiss in the accounting of selling shares - IE what cost price are you using when adding to profit. The first time it may be valid to book a profit but then the average price paid has to be recorded somewhere so there is no loophole to be abused the next time.