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To Ackman's credit, at least in his letter to shareholders he admits it was a "costly mistake." From Pershing's letter to shareholders, dated January 16, 2016, excerpt below: "When we purchased Valeant at an average price of $196, we bought the company at a modest discount to intrinsic value...

Exactly. And it looks like turds will be turds. VRX gapping down 19%. Bill Ackman's "thesis" is WRONG, and so was mine. Fortunately I had fixed risk, and the call spread will expire worthless. It was a maximum 1 by 4 RR with any positive news and a favorable gap. The $30 billion in...

The caller starts around the 18 min mark and it lasts about 10 minutes. Some interesting comments by Tom, in a nutshell: * The documents (i.e. disclosure documents) were poorly structured * Karen "underpaid" herself, and her payment structure was unconventional * She didn't have proper legal...

...and that was AFTER "Investor A" realized a loss of $30 mil in his capital account!

Thanks to F_488's review of the videos, that appears to be the case. The SEC complaint doesn't specify the exact date when "Mr. Big" joined, other than suggesting that he was the largest and primary investor of the HDB Fund, and remained its single investor since approximately 2013.

Anyone trading this turd for earnings? It's down 90% from the top and trading in a sideways consolidation phase from the last report. I bought some bull call spreads, not a lot on the table. I won't touch the common, it's toxic, lol! I don't watch CNBC, and I don't follow any analysts...

When you download the fact sheet from State Street regarding SPY, it has the following disclaimer: "Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs." So you're right, when factoring in TR, they don't...

Ya, I saw that, however when you plot the price on Yahoo finance, it shows TNA outperformed over 5 years (add TNA under the Comparison tab to see the overlay). Yahoo shows the dividend, but I'm not sure if Yahoo considers reinvested dividends on the price chart? So it makes sense to evaluate...

This is good to know. Just as Maverick said, she took some educational courses and then decided she would be a great manager, so that doesn't sound like she was truly qualified. Nevertheless, she attracted "Investor A" in 2008 and started her fund with MULTI-MILLIONS. I guess there's a...

The complaint is vague except for the references made regarding mystical "Investor A" who isn't named. Complaint at paragraph 16: "In 2008, Bruton organized the HDB Fund as an investment vehicle to trade options for herself and approximately five other investors." Complaint at 17: "The...

This is a key piece of the puzzle. The SEC is after the "ill-gotten gains" she allegedly made with the "Scheme Trades." If we assume what was said in the TT video as being true, then as long as she didn't spend all the money, she may still have it. Therefore, it would make sense for her to...

"it would represent just 1% of what they collected in total during 2015." Sorry, my bad. It's not 1%, it's more like ONE TENTH of ONE PERCENT! Karen is not that big of a fish at all compared to the 2015 aggregate fines collected by the SEC.

As much as I'd like to agree with you, if you review the 2015 enforcement results (see link below), Karen is not such a large fish when compared to other cases. https://www.sec.gov/news/pressrelease/2015-245.html "In the fiscal year that ended in September, the SEC filed 807 enforcement...

TD Ameritrade Canada doesn't mention the PDT rule on their site, however it's probably because it assumes you're only trading stocks listed in Canada. It may also explain the contradiction in IB's FAQs. Another thread regarding IB has posts where traders say they don't have PDT rules for...

No thanks, I'll stick with Lucky Karen's Sleight Of Hand Capital. :wtf:

Looks like whoever wrote the FAQ's at IB overlooked the obvious contradiction, lol! It's definitely unclear from those two answers. I checked the TD Ameritrade site in Canada and they have their own margin rules. I couldn't find anything regarding PDT rules for Canadians...

The PDT rule is a FINRA rule, so it will apply to broker/dealers who are subject to FINRA regulations. SpeedTrader is a U.S. based broker/dealer, therefore it must follow the PDT rules. If SpeedTrader is claiming its minimum deposit is $15,000, that does NOT imply that you can subvert the PDT...

"Loopholes" and "money laundering" are quite different. One is savvy, the other is illegal.

You can read the rules regarding FBAR here: https://www.irs.gov/uac/newsroom/taxpayers-with-foreign-assets-may-have-fbar-and-fatca-filing-requirements-in-june

Remember, SureTrader is offshore (Bahamas) and if you're a U.S. citizen they will ask for the standard information for identification purposes and compliance with AML rules. Look up the prior thread regarding SureTrader as it related to FBAR (Foreign Bank and Financial Accounts). They...