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Bill Eykyn wrote:
>
> >
> >> Any RTers familiar with George Fantallis (I believe the spelling is
> >> correct). He is giving some seminars in my area and is following this
> >with
> >> an offer of expensive training lessons on option spreads. I believe the
> >> lessons are $2000 or so in costs. And he is talking about fantastic
> >> profits. Sounds terribly phony to me.
> >
> >
> >John
>
> A couple of years ago I was invited, as a guest, on one of his courses, in
> Chicago, and he is certainly a showman who loves what he's doing. The
> great trading idea he had at that time was Delta Neutral. It seemed to be
> based on the S&P and sounded wonderful, if you had an enormous bank roll.
> It seemed rather like one of those slight of hand card tricks: you couldn't
> see the downside, if you moved fast enough!
>
> After a bit you realized where all his "wealth without worry" (for him!)
> came from. Just looking around the room and doing some basic maths, then
> multiplying that figure with all the other seminars he does all around
> America and suddenly all the dollar signs added up. He certainly came up
> with a glittering arrary of the most amazing zippidee-doodah strategies that
> even David Caplan would have been envious of, but then I have come to
> mistrust phrases that start with, "it doesn't matter what the market
> does...", or, "you only have a point something percentage chance of
> losing..."
>
> Frankly, I would refrain from adding to his wealth and depleting yours.
> With his marketing prowess, he won't miss your particular contribution, but
> it sounds as if you might...
>
> Bill
I think I'm reading your letter several years too late!
About three years ago, after watching a video featuring George
Fontanills, I decided to try putting on one of his sophisticated
strategies with supposedly very little risk. It was one of those
deals involving T-Bonds and T-Notes in a strangle and a staddle, and
lo and behold after 1 to 2 months I found myself with over a $2,000
loss.
I wound up taking a $2000 loss on the trade and I'll admit that part
of the problem was my failing to understand, completely, exactly how
the trade was to be entered in the first place. That said, however,
Mr. Fontanills sure did make it seem like it was going to be like
shooting ducks in a barrel.
The moral of the story is that NOBODY cares about your bank account
as much as you and you'd better DO YOUR HOMEWORK and know exactly
what you're doing, and not just blindly follow some guru blindly.
Pete
Marion, Pa.
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