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> Among other comments, Robert W Cummings wrote:
>> I to can show you how to make a million dollars
>> in commodities in a year. Its really not that hard
>> to do if you have a million to meet my margin calls
>> along the way.
> A.J. Carisse answered:
> I agree. This would be essentially at best turning
> a million into another million ...
Couldn't agree more, guys, but what does this have
to do with Larry Williams? Unless you have some
evidence that he incurred this kind of drawdown in
making his 1997 $million, this argument is strictly
a strawman. You might just as well admit, "I don't
have anything valid to say against his trading, but I
don't like his advertising, so I'm going to invent an
enemy and hope everyone will think it's Williams."
I have never had any contact with Larry. I'm not even
a satisfied customer. But I have had a lot of contact
with this kind of illogic, and it doesn't satisfy me at all.
That said, you may be onto something. I'd like to
know more about his drawdowns myself. When his
managed fund blew out some years ago, he explained
(or at least was quoted as having said) that he had
been forced to change his methods, because he did
not feel he could take the kind of risks with customers'
money that he would take with his own. Given that he
reportedly made good money in his own account that
year, I can believe it. But it would be very interesting
to know what level of risk he finds it necessary
to accept. It brings up the further question of whether,
in Larry's view, small traders really have any business
in the futures market. Or are we just asking our luck to
keep us safe while building enough capital to trade the
way he does?
Larry, would you be willing to shed some light here?
Owen Davies
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