It should be obvious by now just how unevenly information travels on Wall Street. Of course, the individual investor gets the least information and gets it last. But even within my world, the playing field is not level for institutional investors that aren’t as big or as powerful or don’t have as many votes in the I.I. survey as others, or for those who simply are not able to attend a particular small-group meeting. There are the official rules and then there is the way things really are.
