My wife is a CPA, IRS enrolled agent, and here is my thought MOST EVERYONE (WITH ANY REAL MONEY) AVOIDS TAXES to some extent....here is the kicker, the IRS, due to logistical and manpower problems can only go after so many these so called tax dodgers so why pick him and why now? HMM?? Ponderous I am....
Good question. But don't forget: http://www.financialdirector.co.uk/...ing-tax-evasion "Larry Williams is charged with creating false documents and using multiple bank accounts to evade his huge tax bill." To the extent that tax evasion can be described as either passive or active, and I'm not sure that it can be--I'm just thinking "out loud" here, I would surmise that the creation of false documents would probably qualify as a fairly active form of evasion. Carefully planned, even. Perhaps even audacious, and a most unpleasant affront to the nice people at the IRS whose delicate sensibilities have been understandably unsettled. And upon uncovering such scurrying life forms underneath that particular rock, perhaps they wish to contain it. Your guess is as good as mine. No, even better because your wife is in the business. But what if, and I'm just speculating like mad here (but not more so than you did in your post on the prior page of this thread), the IRS has uncovered what it believes to be the tip of an iceberg? That would certainly be a call for immediate action, would it not? Alas, as you, ponderous I am...
via: http://groups.yahoo.com/group/get_traders/ "Yes Larry Williams is speaking tonight in Sydney. Sorry to everyone who wanted to see him in Brisbane and Melbourne and Auckland and etc etc Details: 6-8pm Marriott Hotel Ibis Room 36 College St Sydney NSW 2000 This is Free: Bookings: http://www.adest.com.au/larrywilliams/Million.htm Parking in the building. All welcome - email this to or bring your friends who want to learn trading. Show your support - next Wed he'll be doing short term trading. We don't know what the outcome of the IRS Tax allegations will be. Larry is really fired up to make sure what may be his last seminars for quite a while will be pretty special and memorable. Regards: David Hunt http://www.adest.com.au p: + 612 9527 4690 Warning and Disclaimer: This is general information not prepared for your specific investment objectives, financial situation or needs. consult a licenced investment adviser before making investment decisions. Our information, products, seminars and lectures are for information only and are not an invitation to trade in a financial product. * past performance is no indication of futures results. Unless specifically stated otherwise, any information contained in this has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information (or advice) in this site, ADEST recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, ADEST recommends that you obtain current Product Disclosure Statements (PDS) or other disclosure documents for those particular products and consider this information before making any decisions regarding the products. The seminars and lectures by ADEST are for information only and are not an invitation to trade in a financial product. Consult your appropriately Licenced Adviser before making any decision. No Advice Given. We do not give financial advice and are no licenced to do so. ---------------------- Warning and disclaimer: This email is dedicated to the education & study of speculation and investment techniques. all trading and investment techniques carry a risk or loss as well as the potential for profit. Nothing in this email is to be construed as financial advice nor should be seen as appropriate to your circumstances. you need to assess with or without the help of a suitably licensed investment adviser in your country whether trading or investing suits your circumstances. The choice to undertake one of our seminars or videos or books means that you accept responsibility for your own trading outcomes and agree to test and verify any methods discussed therein before making any trading decision and decide whether it suits your circumstances. The results you see on our website may or may not be actual results. Some may be hypothetical in which case you will see an asterix and a pointer to cftc rule 4.41 about hypothetical results. * past performance is no guarantee of future performance -------------- CFTC rule 4.41 --------------- - hypothetical or simulated performance results have certain limitations. unlike an actual performance record, simulated results do not represent actual trading. also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. no representation is being made that any account will or is likely to achieve profit or losses similar to those shown. do not risk any money you can not afford to lose. ---------------- ASIC Information ---------------- Notice read this - to comply with the asic ids guidelines (internet communication of security information) asic recommends before acting on the basis of what is said in this communication you should review:- (1) asic's web site at www.asic.gov.au has a list of licensed advisors. (2) visit asic's consumer website www.watchdog.asic.gov.au for general guidance about investing. "
============= MrK; Helpful points ; as was Thunderdog link on LW managed money. Believe it or not I am not promoting '' 78 % drawdowns''; but you have to consider its a trading contest. have to be very aggressive usually to win. As one elite moderator said years ago , something like you probably wouldn't want to trade that way; but 10k into 2 million down to 1 million is worthy of note. Especially since some young investors or aggressive types were/are part of a fund called some thing like ''60% max drawdown fund'' [futuresmag.com not an ad] Did a speed read on linda Levinthal; " Be prepared to work hard'' that Mom said, and ''I dont think I ever left work early''.
http://biz.yahoo.com/usat/060526/13568510.html Read this article and you will see why Larry Williams is a lecturer and not a trader as i said before. $363M is average pay for top hedge fund managers in 2005. Against these people Larry looks like a little boy.
Nice article on Hedge fund managers. Makes you wonder why people believe that $3000 is enough to make real traders give up their secrets. Btw have anyone seen Larry Williams trade live? He always claim to trade $1mil live. What mimick does he employ to get away from losing money during the live sessions? More importantly, why do previous attendees not see through his scheme and expose him? (he is 64 yrs old! he should be retired lol)
Why should he retire when there's still a bunch of young guys like yourself around to take money from? Maybe you should contact T. Boone Pickens, one of the top hedge fund managers in your article, age 70+, and tell him you think he should retire. LOL! OldTrader
Very true OldTrader. The age old story of the old bull and the young bull. Just in case there is a young bull who has not heard it. Young bull says to old bull "let's run down the hill and do that heifer." old bull replies, "let's just walk down and do the whole herd." Remember puppy traders the average age of the top 5 traders/hedge fund boys is 61 years. T.Boone has made more in his 70's than the previous 50 years. What other business can you get better at and paid more as you get older and older. Read of an old trader some years ago who was 92 and still trading in NYSE, been there since the 29 crash! Trouble with coaching traders is 90% still lose, no matter what you teach them. Unless you adopt them they just get the yips and self sabatage. Larry just gives them a hot tub for a few days. if he had set up a hedge fund years ago he'd be a zillionaire. Just took what looked the safer option. Bad trade. After 20 years trading I am just beginning to get good at it. I look forward to my 60's and 70's...and still be trading. I'm sure Larry does as well.