Well to be fair, what happened with his previous firm Liberty Trading Group was not James' fault. It was due to the fraudulent action of his clearing firm Peregrine Financial Group and the firm Liberty Trading was actually one of the victims of that fraud as well. Majority of trading firms that cleared through Peregrine lost their money.
But there are still tons of big fat red warning lights that should come up for anyone who did their due diligence or just a simple web search. I rest my case on this issue.
No he never does the long leg. He does nake shorts and that's what he did when the "rogue wave" hit. He does do vertical spreads and iron condors but only the premiums is high enough I suspect.
So, is the apology video anywhere out there still? Seems to have been pulled - wise move no doubt given the lawsuits coming. But I'd sure like to see it!
Welcome to the Internet. You're like 35 years late to the party. That is just the way things are here. Man. Investing is the polar opposite of trading. Any 12 year-old would know that.
What other "tons of big fat red warning lights"??!! The only that came up is really this Liberty Trading Group which is really not his fault if you did the research on PFG scandal. What happened here is something that happens quite common with option sellers and funds that tout option selling as a "safe income-generation strategy" like Karen the Supertrader.
Trust me, you don't want to. It was the most painful 10 min.+ you will ever experience in your lifetime, watching somebody with bloody-shot eyes, apologizing and even breaking down at some point... Seriously the video sounded like a suicide note.
Does that have any relation to Sweet Bobby? I remember when I first came here some years ago that those two seemed interlinked. Was a weird thing.