They are not bad, but they could have been better, I believe. She poisoned my life and that has had some negative impact on all its aspects, trading included.
Bet she looked hot. Was she? She better be because there would normally be no other reason to put up with that. As we all know, crazy chicks are the ones that really get to you.
Sure he said that since he is a psychologist Do you know that he has a lawsuit against him for promoting one of his "successful" trader that blew out clients account because he was so confident about Van Tharp support so don't never expect too much from a guru. Mobley's clients file lawsuit against his stock-trading coach Tuesday, April 17, 2001 By GINA EDWARDS, gvedwards@naplesnews.com David Mobley sometimes felt invincible, he confessed to his psychological stock-trading coach Van K. Tharp in an interview formerly posted on Tharp's International Institute of Trading Mastery Web site. The feeling that he had the Midas touch led to self-sabotage, Mobley said. Tharp helped Mobley curb feelings of invincibility, Mobley explained. And Tharp endorsed Mobley as an accomplished hedge-fund manager and graduate of his counseling courses. Van K. Tharp Now facing federal fraud and money-laundering charges, Mobley â who confessed to masterminding his $120 million, Naples-based Maricopa swindle to regulators last year â perhaps didn't get those feelings of invincibility curbed enough. Investors' claims top $100 million. A group of Mobley's jilted clients, who have collectively lost $8 million, now want Tharp to answer for his high praise of Mobley. The 25 investor plaintiffs have filed a lawsuit in Collier County Circuit Court seeking compensation and unspecified punitive damages from Tharp, his wife, Kala Tharp, and the International Institute of Trading Mastery in Cary, N.C. The investors claim Van Tharp acted with gross negligence by promoting Mobley as a successful trader. They say Tharp acted as a referral agent and reference for Mobley. "If you're a trading coach singing (Mobley's) praises, the clear implication is that you've looked over his shoulder and seen his success," said Mark Raymond, a Miami attorney who filed the suit on behalf of investors along with Naples attorney Chris Vernon. Raymond said Tharp should have done due diligence before soliciting investors for Mobley. Tharp, 54, and his Chicago-based attorney couldn't be reached for comment. The 25 investor plaintiffs include a Naples couple and others from Florida, Georgia, Alabama, North Carolina, Oregon, Colorado, Nebraska, Canada and the United Kingdom. Prosecutors say Mobley held himself out as a successful hedge-fund manager, but meanwhile used investors' money for a series of failed businesses and his own lavish lifestyle. A hedge fund pools investors' money and tries to hedge bets on the ups and downs of the market. Investors, who've submitted more than 300 claims to court-appointed lawyers gathering Maricopa and Mobley's assets for investors, expect a payback in the near future of 25 cents on each dollar invested. If convicted, Mobley, 44, could spend the rest of his life in prison. Despite confessing the scheme to federal regulators with the Securities and Exchange Commission, Mobley has pleaded innocent to criminal charges and is scheduled to go to trial in June. Before the Maricopa funds collapsed in February 2000, Tharp praised Mobley's success on his International Institute of Trading Mastery Web site and said he invested his own money with Mobley as a show of confidence. The endorsement and interview is no longer on the Web site. The lawsuit claims that as early as 1993, Tharp endorsed Mobley and Maricopa. Tharp even asked Mobley to write the forward to his book "Trade Your Way to Financial Freedom." According to the suit, Mobley wrote in the book forward in February 1998: "Since I met Dr. Tharp, my net worth has grown many times over, and I do believe that it comes from adopting many of the Holy Grail secrets contained in this book. I think that Dr. Tharp understands and teaches those secrets better than anyone else." Tharp's Web site formerly touted that as of mid-1997 Mobley's Florida hedge fund earned returns of more than 40 percent a year for the past five years, the lawsuit claims. Some of the plaintiffs claim in the suit that they invested with Mobley as a direct result of Tharp's endorsement. "I think the symbiotic relationship between the two is troubling," Vernon said. "(Tharp) put his stamp of approval on this guy." In his Peak Performance audiotape course for investors and traders, Tharp instructs investors to take accountability for losses. Some courses cost investors thousands of dollars, Raymond said. "There's no such thing as a loser, only someone who is in the process of losing," Tharp instructs on the four-tape course. In other words, the investor is in control of how they react to losses, Tharp said. The tapes also include hypnotic sessions in which Tharp instructs listeners to relax and breathe deeply. He asks listeners to feel "what it feels like to be the ideal you" and make up a magical word to conjure up those feelings later. http://www.naplesnews.com/01/04/naples/d614520a.htm
I'm not a lawyer/judge but how can Tharp be liable when he is in the same boat as the plaintiffs?!? He apparently believed this guy so much he invested with him and lost a lot (according to rtharp -- do a search).
Yes, as a friend and long time student, I was aware of the above situation. Not only did he loose his investment along with a number of family members, but there was a healthy settlement on top of that. Dr. Van Tharps sole fault in the Mobley fiasco was to believing that a long standing client was telling him the truth. He is still possibly the best, most experienced trading coach in the country, and all this case proves is that he has integrity and WAS inclined to trust people. The moral of the story is that "trust is no substitute for due diligence". I believe this is an important topic, and I have started a new thread titled "Trust and Due Diligence" for it under Chit Chat. Norm
This is a very important topic, but it should not be under Chit Chat unless you want to invite moronic responses to it.