Regulation

Study discovers the best strategy for buying and selling stock is to follow SEC regulators because they trade on inside information, but because they're the regulators, they get away with it.

"By now it is abundantly clear that enforcing a fair and efficient market is the last thing on the minds of SEC staffers. It is now also quite clear that in such times when said staffers are not browsing porn on the taxpayers’ dime, they are trading stocks on illegal, market-moving information.
Note: The above originally appeared at Zero Hedge. It should be clearly understood that because the SEC is a government regulatory body, this trading record smacks not only of insider trading by government employees, but the likelihood that agency enforcement actions in some cases may be driven by SEC employee stock positions."

Another reminder laws are for serfs, not rulers.