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"Past two days" . . . try months as you try to understand their constantly
changing calculation methods on returns both fully funded, notional and
average weighted daily $$ in the accounts to come up with returns. By the
time they are done, no normal investor can understand the disclosure
document and by their own methods they distort returns in many cases
(dispite your objections and pointing it out). Then there are the audits,
by more people than one can imagine give the size of the funds under
management, someone stop me . . . having helped someone through this process
I can only tell you it was madening and a good reason to keep the number of
accounts under 15 to avoid the "process".
John L. if you are successful in your endeavor, I am sure others on this
list can give you some of the needed changes the NFA should enact to
"really" protect investors. The current process in my opinion does not, far
from it. No standards, no commen documentation, no commen meaningful method
to calculate returns . . . the list goes on, a typical bureaucracy.
don ewers
----- Original Message -----
From: "Howard Hopkins" <hehohop@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, November 09, 2001 7:04 PM
Subject: Re: [RT] Wealth
>
> I started working as Director of Business Development for a CTA friend of
> mine less than a month ago. We are trying to put out marketing mailers
and
> TV ads. He's up over 80% in the last 12 months. We can NOT mention our
> returns without first presenting a D-Doc. So we have this great
performance
> but can not mention it directly. I've been on the phone and emailing NFA
> compliance about what we can and can not say for the past two days.
>
> It's maddening that a legitimate money manager can not advertise actual
> documented returns but these guys with mass mailers can dupe the public
into
> beleiving they can trade their way to riches!
>
> The NFA needs to set a standard like the securities industry where you can
> advertise returns compared to a standard benchmark like the S&P.
>
> Just my two cents,
> Howard
>
> >From: Ted Stampeen <cstampeen@xxxxxxx>
> >Reply-To: realtraders@xxxxxxxxxxxxxxx
> >To: realtraders@xxxxxxxxxxxxxxx
> >Subject: Re: [RT] Wealth
> >Date: Fri, 09 Nov 2001 09:49:39 -0800
> >
> > I'm truly amazed also that there is no law to combat this kind of
B.S.,
> >if the "powers that be " really want to
> > do a service to the" public at large", this should be their top
> >priority,
> >I have chatted with people who were starting
> > out with a less than 5k account, and were going to trade Bellies
because
> >of some nice ' chart formation', so I asked
> > them, what about being on the wrong side of a lock-limit move for
days
> >on
> >end, because bellies can , and will do that,
> > they had no idea, because it was not mentioned in their course they
just
> >bought, so I also mentioned that maybe
> > they should start off with the less volatile and more liquid
contracts,
> >and again, they had no idea what I was talking about..
> >
> > all other "FALSE ADVERTISING" would be pulled off the shelf, the
> >vendor
> >probably sued, but not in
> > this industry.. mind-boggling..
> >
> > enuff said / Ted
> >
> >
> >
> >
> > > I just received a booklet in the mail that will tell me "How To Make a
> > > Fortune With Only $400 and Gain Financial Freedom". He is selling a
> > > Guaranteed Options trading system. It is tough for me to stomach some
> > > of these ads put out to the unknowing public.
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
> >http://docs.yahoo.com/info/terms/
> > >
> > >
> >
>
>
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