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>i stand by my statment
>if you ask robins for THEIR statment you will see that he was long
>bonds
>and had a 660000 margin call
>he was on a trip and not even home during last 3 days of this.
>he or robins or his staff wire in the mony
>as it turnes out the next day bonds were limit up and he mae his
million
>(not even needing the 660K
>(if money was not added they would have close the position
It always amazes me how many people can't get this story straight.
Williams's book about how he made $1 million in a year could just as
easily have been titled, "How I Made Around $1.6 Million in a Little Over
Six Months, Blew $600K in a Week, and Decided to Sit Out the Rest of
the Year." He went on a well-earned vacation, leaving an assistant with
instructions to bail out if anything went wrong, together with clear
criteria
about what circumstances would justify calling it quits. Then, while he
was out of touch for a few days, the market went against him and his
aide developed a severe case of deer-in-the-headlights. By the time
Williams called in, it was all over, save for making the calls to close out
his trades. Plural, by the way. As I understand it, the bonds were not
the only thing he had going at the time.
Not that any of this matters. Anyone who's been paying attention knows
that Williams's trading style accepts losses most of us couldn't stomach.
A $600K drop from something over $1 million would be a bit much even
for him, but coming out of it with a megabuck in profits is a worthwhile
achievement, even if it got hairy toward the end. It certainly meets any
criteria I'd require for my all-time-great-performance list. I'd like to
see
how many of the folks who piss on Williams could match it.
These dump-on-Williams messages always look to me like an advanced
case of trader's penis-envy.
Owen Davies,
Who'd love to have six months go by without having this
rehashed yet again! Or at least have it discussed by people
who know what they're talking about.
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