She was a massively losing trader though. If she's still using the same technique she's "up" 9% realized could be down 23% unrealized for all you know. That's assuming the 9% can be believed from a convicted fraud.
I will speed watch the video later, but maybe Bobby can answer these questions, these are the ones I always wanted to ask her: 1. Why did she choose her unusual fee structure for a HF, that was tied to highwater marks, instead of the industry standard 2% + 20%? The highwater mark almost forced her to tinker with the books. Had she gone with normal fees, she would be still advising, IMHO. 2. Was she aware of the Yahoo group using her strategy? Maybe not, but if yes, why didn't she hire some of the guys or at least brainstormed with them? They were wildly successful using the same strategy. "Discovering" something is one thing, perfecting it is another. 3. What caused her to start the funky accounting? At the time it started there was no big market movement what would have caused a big loss or drawdown, so I didn't see the need for it? I am still baffled nobody asked this... 4. Once the funky accounting started, what was her endgame? Did she hope that she could trade herself back to profitability? The problem of the funky accounting was that it tied money up, but it didn't generate profits, thus there was no capital available to generate profits. So Bobby, do you have an insight into these?
independently audited by what firm? lol you have no performance if it's not audited by a legitimate firm. that's why people lose all their money in the first place, it's nuts she is not in jail. she must be one of the lizard people.
I could think of worse. People have tried to short strangles on NatGas after following Cordier's school of thought. And there is a reason why people refer to that commodity as the 'Widow-maker'.
I am watching the video and taking notes here. First 10 minutes can be skipped. Trading only SPX options only on Wednesdays. Bobby missed the obvious question, why We? (maybe it is her schedule, maybe she noted good moves on We, etc.) Then she starts to BS about her case. She says she couldn't afford to fight the SEC. I thought she made millions trading, what happened to that? Did she donate most of it to charity? She did and does donate a lot, about 50%, supposedly. "they didn't find anything" yet she is banned from financially advising others. Lowest return 11%, highest 50%. She doesn't say she made 100MM, Bobby just (incorrectly) assumed it. Some of the capital grow came from investors, not from profits. The point here is that she didn't turn 1 MM into 100 MM. Still, returns between 11% and 50% are very nice. That is why I still don't get it; why the funky accounting? Sidenote: I am always suspicious of people who mention charity and Jesus when we are talking about investments/trading. End of the first 20 minutes...
Hello MarkBrown, This the best comment I have heard on ET in a very long time. It is amazing so many Trading Selling Services in this trading industry preaching to others about how to trade, and fail to provide provide creditable and reliable proof of trading performance for +3 years. Like trading marketers is really making alot of money selling dreams and lies. Even if a Trading Selling Service does not want hire a 3rd party legitimate auditing firm, they can go to www.kinfo.com and have their trades publicly displayed to potential buying customers.
Notes from 20 minutes in: She is talking about charity and her book, see my sidenote in the previous post. Nothing interesting until 31 mins. She talks about her education and gender inequality in the workplace. "I got fired by the SEC", well that is an interesting way to put it. In a movie Sally Field should play her. From 41 mins, people ask questions about her trading, if anybody is interested. "I don't pay attention to Delta." "I hate calls." "I get the calls side for free." Anyhow, for option talk, watch between 41-51 minutes. Her way of talking reminds me of Johnny Depp's testimony, not an easy listening. Last 5 minutes also has some option talk. She uses TastyWorks.
actually i do have audited results and i have posted them here before that's why i can speak with authority on any trading subject. once i knew i could make repeatable returns i figured out i didn't need the hassle of clients and have been a private trader since. also i have published more free trading ideas and actual disclosed systems than anyone i know. https://www.linkedin.com/in/markbrowndotcom/