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Robert,
Thanks for sharing this. It is another chapter in the saga of one of the
most slippery characters in the trading managerie. I never went to his
website because I know what to expect. What you say is no surpise.
Let me relate one incident during his tutorial session (which I took,
along with 3 others.) He had recently finished shooting a series of videos
presenting his course materials. To teach us his approach to options he
showed us that section of the video course. It was like most of his
presentations - pretty slick, appearing like he really had it down cold. It
wasn't easy to grasp, though, at first go through, so we naturally had some
questions. You know how he answered our questions. He rewound the tape and
said, let's see if we can figure that one out!!!!! (Even after doing that,
neither he nor any of us could make heads nor tails of what he said.)
Based on my personal experience of him, of his course and materials, and
of an incredible amount of feedback from others, I would in no way, shape
or form recommend that anyone take his course or pay attention to anything
he has to say. Anything of value that comes from him is available elsewhere
from people who know what they are talking about and have some amount of
integrity to back them up.
David Cicia
At 04:41 PM 6/9/98 EDT, RJK126@xxxxxxx wrote:
>I couldn't help putting in some perceptions of my own. There is no criticism
>in my words. Just attaining myself to the facts. I made two very interesting
>observations about Bill Williams. One is from his book and the other one from
>his web site where he publishes an equity curve of a portfolio of some
>securities and sells his daily calls for the same markets@ $5.00 per
>security/day. I have to confess that at the beginning I used to like the guy.
>In his book (Trading Chaos) he starts out with an interesting approach but
>when he started calling '"Swings" as "Fractals" I started to think to myself:
>"Wait a minute.Something is not right here" (to the people who did not read
>the book what B.W. calls FRACTALS is a simple SWING formation with a power of
>two i.e. one high preceded and followed by two lower highs). But what really
>intrigued me was that after all the Elliott Theory and "Fractals" stuff
>lecturing he finished up with his Profitunity Sheets (designed to track all
>the pre and post trade conditions) and guess what was the ONLY indicator he
>recommends tracking? OLL SIMPLE TRIPLE MOVING AVERAGES of different
lengths.
>Another thing that surprised me was that when he started out his advisory
>services on his web page he had a mixed portfolio of stocks and
commodities he
>was calling the shots for and posting the equity curve daily. I happened to
>log in on his page right on the first week when he started out and thought
>that this would be a good opportunity to track the "Profitunity." Guess what?
>The Equity curve started nose-diving and my interest being commodities, I
>checked out for the results of those.
>Practically all losers. For the first weeks he still came up with some
excuses
>(about the equity drop) saying it was expected and such. After following his
>results DAILY for some weeks I gave up because it seemed that his approach
was
>in a real losing streak incapable in generating any profits (on the
>commodities - his stocks positions look OK). What was my surprise after
coming
>back to check out his page a few weeks later that his equity curve was
hitting
>$40M. When I looked closer, all trades for all commodities had simply been
>TAKEN OFF.
>I sent them an e-mail explaining that I had been tracking the positions and
>all of a sudden NO COMMODITIES any more. WHY?
>They simply said that commodities were generating too many losses so they
>decided to eliminate them from the portfolio. Is this a serious company????
>I can understand that you are entitled to stop trading loosing issues but
what
>you are not entitled to as a CPA is to omit previously traded instruments to
>ARTIFICIALLY increase the figures of your equity and let alone when these
>figures are designed to provide profitability levels for prospects. I am very
>disapointed with Bill Williams. By the way there is a name for this kind of
>procedure.
>
>Good Trading for all
>
>Robert K.
>
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