Biggest Joke On Wall St. Award:

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Originally posted by Stockjobber


Ken Roberts is still out there. He has a web site and everything. (And no, I won't post the link.) I have to admit, I bought Roberts's course about six years ago ($180 or so). Luckily, I never used his system to trade because I now know it would have been a disaster (a simple breakout strategy that uses pyramiding to increase contract size). But reading his course is one of the reasons I got into trading so I have to give him a little credit (very little). The common denominator amongst these types is that they sell for $200+ what you can buy at Barnes and Noble for $20.
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I bought Kens course several years ago also. He is a master at his craft.... Marketing and writing.

As far as biggest blunders I have heard of, my friend works for TIAA Creft. One of there clients inhereted 20 million dollars and insisted on putting it all in Cisco. That was March of 2000.
 
I work at T/C.

LOL!!! Funniest shit... !!:):p

I can't sop laughing.

anyone who knows me, knows I am switching to trading
to get away from bureacracy, but the damn prop shops keep going outta business. Oh well, More Bureacracy and lots more laughs, until the time comes.
:p
 
Thanks for the update on Roberts, good call about not posting the link. I have purchased plenty of books from the likes of Wade Cook and Robert Allen and Robert Kyioski over the years.

I would think these guys would drift away, but the money must be very good.

There was a similar CSCO story in WSJ last year about a guy who used all his CSCO (His whole portfolio) to secure a loan on a second house. At the time of the article he was living in the second house and the account had went from something like 1M to 50K.
 
Blue Star I can't top that story but I can give it a run for the money....

When I was a commodity broker I had an eyedoctor client who told me about a friend who put 400K- his entire savings I think- into a single tech stock. This guy pyramided the @#$# out of that 400K position, ramping it up to $12 million at the peak.

The punchline: the stock came within something like $20 of his "target" but never hit it, so he held on.

And was eventually forced into bankruptcy by the margin call.
 
Originally posted by darkhorse
Blue Star I can't top that story but I can give it a run for the money....

When I was a commodity broker I had an eyedoctor client who told me about a friend who put 400K- his entire savings I think- into a single tech stock. This guy pyramided the @#$# out of that 400K position, ramping it up to $12 million at the peak.

The punchline: the stock came within something like $20 of his "target" but never hit it, so he held on.

And was eventually forced into bankruptcy by the margin call.
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So Gordon Gecko was wrong. Greed is not such a good thing afterall.
 
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