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Gaius Marius writes:
:You might also want to check out the "legendary" traders Larry Williams and
:Jake Bernstein. The year after LW won the Robbins World Cup, he and JB
:formed a fund that was later closed after losing more than 50% of their
:investors' money. Maybe that's why they're on the lecture/seminar circuits.
:
:All LW is doing is living off his fame for taking $10K and turning it into
:$1million. What he really doesn't tell you is that he actually took it into
:$2million and then took that $2million and turn it into $1million (imagine
:that: $1 million drawdown!!).
In my 20 years of investing & trading, I have 3 times given others some
money to trade.
One of those instances was LW, as Gaius describes. As I recall, the 50%
drawdown occurred in approximately 6 months.
FWIW, the other two times turned out to be losers also. 0 for 3 & wiser for
it.
FPI
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