Hello, friends.
Larry Williams' super profitability opinion has surfaced, which we questioned a little earlier in Larry's article, explain yourself! Otherwise it will be worse ...
Further quote with LJ
March still knocked me up to register on a smartlab, and no, no, I look there, because of this, all sorts of unexpected discussions turn out. For example, I realized that many people still believe in a wonderful legend., as one unique trader earned 11 000% in a year and then, instead of becoming a successful manager, he started selling signals. (Books by that time he was already selling different 15 years, Williams' first book on trading was published in 1972 year).
Here is an excerpt from the book Winner Takes All:
For those who have bad English — while Larry was making a million in the competition, thanks to which he gained such fame, in parallel, he merged $6 million client funds. All this happened in those distant times, when the rules were much less strict, and it was easy to first make a deal on the market, and then at the end of the day inform the broker, at what expense to hang it. people, who are familiar with some of the features of the remote control, when it is done by unclean people, I think nothing needs to be explained further.
Quote from the doc ,which is not on the internet, but a complete almanac of such documents was published before 93 year inclusive, and if you try, you can find it in the libraries of American. The full proceedings in this case lasted for several years., to 90 of the year, and ended with just a fine in $13 one thousand dollars. Here is the record for the final disciplinary action. Broker was also fined. The only thing they could prove — what Larry (well, or his agents) deceived potential customers, displaying profitability in 11000%, while keeping silent about the losses in $6 million. The author of the book, Larry, never filed a lawsuit against him.. Now Larry on his website prefers to declare, about that, what he — «many things, but not a CTA», apparently about my experience, when he was a CTA he prefers to forget.
Why did it end so softly? The rules, as already mentioned, were then softer, the broker was affiliated with Larry, which makes the evidence very difficult, if the broker helps, time stamps on trades essentially did not exist then. AND, if anyone does not know — Larry has some political resource, he ran for Congress from the Republican Party, and was personally acquainted with, for example, Ronald Reagan, he even came to agitate for him somehow.
Conclusions about Larry, the broker and the competition that he conducts, everyone can do it himself.
