M-L DownTheTubes....following Arthur Andersen

Discussion in 'Trading' started by RockTheLurker, Apr 27, 2002.

  1. I told M-L to go FuckThemselves about 5 years ago when I started DayTrading....after being with them for 26 years....They just could not see why I wanted to trade on my own....ASSHOLES!!!!

    Want to hear a funny story about M-L and the credit card companies?

    Once upon a time, when CASH WAS KING and some of you were still peeing in your diapers....

    I had a bunch of CreditCards....with BIG credit lines.

    This was a time when there was NO cash advance fees and M-L would "allow" you to DepositCash.

    Starting to get ThePicture....

    SO....once a month...

    I would go to several banks with Cards in hand and get as much CASH as they could advance me and the rest in bank drafts...up to my limit...

    ...about 175K ....and head to M-L to deposit the
    cash/drafts into my CMA account for a 30 day float.

    M-L was paying about 10% on my money deposited and I was cutting checks from my CMA account to the CardCompanies before the advance was billed to me.
    ....for a couple of hours of work I made about 1500.00 per month...


    ....as always,

    GoodInvesting, Rocky
  2. Wish I would have thought of that.
  3. I was doing a variation on this theme. Over the last couple of years I got several offers from credit card companies allowing balance transfers at 0 % interest for six months. I didnt make any money from it but saved a lot of money using opm for needed purchases at 0 %interest. Lately these offers seem to have dried up.
  4. jem


    Rock when I was in college I knew people who would live the second semester by doing those sort of tricks with their cards and just cycle money around masking the fact they didn't have the 2500 they owed. I sure wish I had a line of credit back then like yours I could have lived like a king in college on an extra 1500 a month.
  5. Hey Rock

    Any lurker updates for us? How have the trading sites been treating you lately?
  6. :(


    up about $2200.00 on 67 round trips.....

    ....but up is up....I GUESS

    I am only trading 200 shares per trade but maybe I will increase it to 500!!!

    ....as always,

    GoodInvesting, Rocky