> I am saying that when you let others pull the same trick in addition to Buffet himself, they can now bring their own additional funds to play with -- meaning they can make more trades and cause even more damage than Buffet could inflict on his own.

Buffett is not inflicting damage on anyone by trading on his intentions. Neither would anyone else.

Also: the typical 'insider' in insider trading cases has far less budget to bring to bear than the typical principal. Eg Warren Buffett (and Berkshire Hathaway) are richer than Warren Buffett's assistant.

Also: 'insider trading' is perfectly legal for commodities and foreign exchange, and the markets in these work perfectly well.

> Why don't you start with someone poor instead of Buffet, then add Buffet to the equation, then try to claim that bringing the billionaire into the equation makes no difference, rather than the other way around?

I'm very poor compared to Warren Buffett. If Warren Buffett wanted to trade on any information I held, I'm very sure we could work out a deal.