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Re: [OT] WARNING



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Guy :  Enjoy reading your posts.  You are one of the few that are willing to
put your trades in print for all to see.  I am more of a currency and
interest rate trader but appreciate your equity views nevertheless.  Keep
'em coming!

Mark: I wasn't aware that Guy was trying to sell something.  In fact, is he
a system or newsletter seller?  Is he trying to sell a charting system?  Is
he promoting a fund? I have been lurking on this list for a long time and as
far as I can tell he doesn't even have website. --Just like you sir his
motive for being on this list is to exchange ideas and not promote any
products directly (or indirectly).  So give him a break,  please.

I'll step down from my soap box.

E.
----- Original Message -----
From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, May 30, 2000 8:26 PM
Subject: [OT] WARNING


> It  is specifically against the law for anyone to represent historical
> hypothetical  trades  as  a  matter-of-fact.   It is also specifically
> against  the  law  for  a  person  to  hold themselves out as  trade
> adviser  without  properly  being  registered.   The  purpose  of  the
> registration  is  to  verify the track record of the individual who is
> making a representation of their actual trading.
>
> Time   and   time   again  people  have  made  outrageous  claims  of
> profitability   only to be later prosecuted for misleading the public.
>  The  facts  are  most  professional  money  managers who have all the
> resources available to them that are possible have not returned in the
> two-year   period   the  percentage  of probability as someone here on
> this list has claimed to making ten days.
>
> Anyone with a calculator can figure it that rate of annualized return
> it   wouldn't   be  before  too  long and someone would own the entire
> world.   I know this is off topic is labeled as such, and while I know
> some  of  the  most  experienced members of this list know these facts
> already.   This  is  for anybody who just starting in the business and
> will be attracted to those who are bragging about their profitability.
>
> Anytime  someone  claims  profitability make them show you an audited,
> make  that  an independently audited track record of their trades.  If
> they can't afford to have someone audit them and maintain those records
> on     a    monthly  basis  for  public viewing.  Then I would suggest
> that you stay clear of them completely.
>
> PS  it  is  acceptable  for  a  person  to  display  and  talk  about
> hypothetical  performance  without an audited  record  but  it must be
> represented   as   that.  that  hypothetical  track  record  must  be
> accompanied  with the proper risk disclosure statement which makes you
> the  consumer  aware  of  the  possible risk.  I have neither seen any
> offer of an audited track record nor any posted disclosure statement on
> this   list,  by  those  who are claiming to actually have been making
> these trades.
>
>
> --
> Best regards,
>   Mark Brown   mailto:markbrown@xxxxxxxxxxxxx
>   Y = Offset + Amplitude * sin(Frequency * X)
>
>