From the point of view that public markets are accesible to everyone - the secondary market is like a grey market: there's limited information, likelihood of anonymity and weak controls. With that in mind, I would call it "shadowy".

Also, I think making money on timing the market is not a bad thing. To each his own. However, timing the market does not create value. It is merely displacing value or what they call a zero-sum game. I don't think the article goes too far in displaying MA as someone playing that game. In fact, makes the point so valid that it's hard to argue that he has created some sort of permanent value. Other than netscape, the FB board seat is just a fancy chair...