How about you share your compassion with the investors who lost big time. I am sure they deeply appreciate your concerns. Remember the Madoff case? That smirking schmuck ruined people's lives forever, several of his investors committed suicide. Even his brother I think committed suicide if I remember correctly. I think your compassion is misplaced and should be given to the investors this guy fucked so badly.
Similar to insurance, most of the time it's not used. OptionSellers was paid to manage the risk otherwise.
The apology video is embedded within this one. The first few minutes are spent discussing what happened then it shows the video from James.
I googled FCStone, INTL FCStone? They are a reputable Fortune 500 corporation, how can they so misrepresented their offering and created such a mess? It is difficult for me to understand, like Schwab screwing up my IRA account?
Relevant? You left that out. What does your account, custodial agreement and poa state? I have talked to a couple of hnw individuals in the last couple of hours and neither are allowed to short naked calls in an ira. I mean they have fuck you money, 9 figure types.
It's bad enough to lose all the money (plus some) from a taxable account, but to lose it from and IRA is inconceivable. The IRA accounts actually have debit balances that need to be paid. I read that naked calls are not allowed in retirement accounts.
The fact that they aren't allowed to short naked calls in an IRA is probably why the lawyer is going after FC Stone. None of the documents talked about naked options. The IRA was set up through Midland as a self-directed IRA.
Thank you for explaining. There must be some law against your broker allowing a naked short fund for your IRA, even if it is self directed. I am sorry for you. Good luck and take care.