Because it happened in the commodities markets and the average joe is up to his eyeballs in the equity markets.
You put stuffing in a raw turkey??!! LOL I was expecting a cooked turkey with stuffing in it thrown at me, actually put on a silver plate and put on a table in front of me. LOL Yeah but what I was trying to explain to you is that guy was completely clueless in what he was doing, not even the "neutral hedge" strategy that you were doing with futures because although your strategy would work his wouldn't unless he gets the "rogue waves" also in gold & silver simply because of the decay diff. between futures and options. Yes the turkey with the stuffing was not bad but too bad I couldn't eat it cuz it was raw. And no points to you for killing that innocent turkey!!
I looked at the photos of the guy. Smug, arrogant, know-it-all written all over this guy. A true flim-flam man. Plus all of the marketing just looked cheap and corny. I swear that I thought this kind of crap died in the 1990's. It's like watching a Wade Cook seminar.
I am pleased you caught the stuffing in raw turkey issue. I was hoping that after the raw stuffed turkey hit you in the face, you would also get bad salmonella poisoning. Since you got it (and the joke), here's some antibiotics...(Stuffed in a marijuana-laced brownie) for dessert. Hey, they are legal in New England now. I am allowed to dispense pot legally everywhere. Go Tom Brady? Teehee. Happy-T-day JSOP.
Pot is legal in NE now? Wow America is making progress. Have a happy stoned Thanksgiving now!! Don't kill more turkeys! And P.S., you don't need antibiotics for Salmonella poisoning. You just puke and s*** the stuff out and after 3 days, you are all good as if nothing has happened.
You guys can private message each other, click on the avator of PJB1994 and click on "Start Private Thread". Good luck on recovering your losses and so sorry to hear your plight.
Did you guys take a look at the Quantum Leap2 advertisements? I just noticed it now. He's recommending stop-loss at loss of 250% of the initial premium!! And in his example, if the initial premium was $1K, he would only get out when the price has reached $2.5K??!! When the ENTIRE premium lost plus 1.5K more??!! Am I reading this right? He's recommending stop-loss only when the position has lost 2.5 times of its initial value??!! And even for those, he went on to say he doesn't even recommend stop-losses so basically to let the account balance drop to 0. And of course after reading Quantum Leap 3 advertisement, you understand why he can recommend such a wide stop-loss, because he recommends the client to leave 50% in cash in the account while he invests the other 50% obviously feeling that the 50% cash would be enough to cushion any potential downfall since the positions are unhedged. So that means, the positions must have lost more than 2.5 times of their initial premium then if all of the clients are now stuck with debit balance that he's even run through their 50% cash balance??!! Gawd!! A stop-loss of 250% losses! LOL
“basically took advantage of guys who didn’t know any better,” he continued. “I instantly thought of my grandmother, my grandfather. I honestly was thrown when I heard about it.”
Another Thanks to Sweet Bobby for starting this interesting and productive thread. One other thing: I am a Confirmed Vegan so please do not throw any raw turkeys my way. Thanks too to all who gave time to post and make this thread so interesting and in some way instructive. (I am a long time futures and options trader who utilizes hedging techniques.)
Fine, we will just throw some Romaine lettuce your way then. Kidding aside, I totally agree, I learned a lot here.