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Mark:
Well said.
If you had a goose that laid golden eggs, would you sell the goose?
Lionel Issen
lissen@xxxxxxxxx
----- 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)
>
>
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