My guess is that most people don't have money to burn, and would probably have decided otherwise had they known that they were essentially paying for laughs and a good time. It's like buying a box of Corn Flakes and finding it filled with styrofoam chips. Only on a different scale. And I suspect that you may well be right on that other matter. I suppose some folks would rather eat the styrofoam and declare it to be tasty rather than admit to being duped. However, I can't see that sort of mentality serving them well in their trading. "Yeah, I got...something...out of it. Sure did. You should go."
One thing that concerns me is when people distort the facts. When Roberk implies that Linda Raschke and/or Larry Williams are less than skilled, he is simply wrong. Both are skilled. Both experienced. Both can make money in the markets. I have seen it. What happens I think is that people who operate in financial markets KNOW just how difficult it is make money consistently. Those lucky enough to develop a following have to decide whether to go for the "easy money", the consistent money, and in some cases, the big money that can be had if they just market their names. I used to think it was a character issue. But as of this date I find that it is not so cut and dried. Of the two, I have spent more time with Linda. I find that she genuinely enjoys teaching people, and in my opinion she is pretty good at it. Larry on the other hand (and it is just one man's opinion) could care less. He wants to subsidize his trading account and to make a good living. As with most things in life, when you look into the subject in detail, the issues become more complex. As it relates to this thread, I have no idea what has transpired. Most of my family members however are attorneys, and over a period of years, one picks up the concept that having the justice department or the IRS come after you is bad, bad news. In general they don't (come after you) unless they are pretty confident that they have a strong case. Steve
Steve (or anyone) , what do you think you could learn in a weekend seminar with larry or Linda that couldn't be learned from their books, or even from Elitetrader?
Roberk I am not a fan of "weekend seminars". I think there are two problems. The first problem is "owned" by the student. Most/many students are impatient, and unwilling to put in the long hours necessary to learn and really internalize the mechanisms of the market. While the mechanisms can be described as a series of basic concepts, it takes longer than a weekend for a student to learn enough to make a difference. Then Teaching a diverse population of students requires skill and talent. It is a profession in itself, and like trading, it has its own challenges, the first of which is that some folks just don't have what it takes. In the formal institutional setting, a student eventually gets the message. Either they "make the grade" or they drop out and look for another specialty. In the seminar business none of that happens. So what you have is a number of people who come expecting to learn something that will make a great difference in their skill level. How realistic is that? I think that in any sample population of students, you will find that some learn more effectively from reading books, some from hearing lecturers and taking notes, others from "trial and error" and God knows how many others from some combination of methods. I think that if there were a way to know what method works best for each individual, someone would have found it by now. Steve
Right I agree with all that. And I would guess Linda and Larry would too . But I think most of the people who fork over the dosh are expecting a lot more than a seminar can give.. .
I am unfamilair with USA tax. How much do you need to have to get a 1.5 mill. tax bill? Was this all from seminars, or did he actually trade?
What Website? You had better check again! My mystery becomes how Moderators can make unsubstantiated statements about members and get away with it and we do it toward mods and get banned?
prior to casting stones regarding spelling, i suggest you review your punctuation acuity. remember, there is a spell checker, however nothing to correct punctuation. furthermore, what convinced you that i have any interest in debunking you? i have no interest in your claims, proven when you invited me at no cost to attend a seminar promoted on your website and i declined. just look at your website, mr. bill--- your trades rarely lose. you have the holy grail and you are kind enough to share it for $2500.00 or so. i gave up a long time ago dealing with your claims--- no one can compete! however, i must thank you for the fodder--- it has made a great chapter in the upcoming book!
Larry's best material is not given in his books. His best stuff is offered in his seminars. If you can find one of his seminar notes on ebay, it would be a great buy. FWIW!