Smiling to myself .............. It's Saturday night and I'm sitting here with the latest Barron's reading the stock tables, line by line. So just for kicks I put Darvas in the ET search and see this thread still going.
There's a few threads on here about Darvas, and at least one other about the Lefkowitz investigation. Here's some things that need to be cleared up about that:
1. Lefkowitz's investigation found that Darvas made $210,000 that was VERIFIABLE. That was in Darvas' US brokerage account. So Lefkowitz's allegation was that the book was not true, NOT that Darvas LOST money.
2. Lefkowitz was later forced to admit that he did not have access to Darvas' foreign accounts, and also, of course, had to admit he didn't know what gains or losses Darvas had in those accounts.
3. Lefkowitz had to drop his investigation, there was never any proof that Darvas lied in his book.
My own opinion is that most of Darvas' gains came in his foreign accounts, (one was in Panama), and that his claim of $2M is reasonably accurate, could even possibly be 100% accurate. He was probably trying to avoid taxation, even though in his book he said he opened other accounts to keep his trading secret after he started trading on a large scale.
My own opinion on Lefkowitz - He was a typical New York lawyer with grand ambitions, (nothing ever changes, does it?), and got shot down when he went after Darvas.
There's a few threads on here about Darvas, and at least one other about the Lefkowitz investigation. Here's some things that need to be cleared up about that:
1. Lefkowitz's investigation found that Darvas made $210,000 that was VERIFIABLE. That was in Darvas' US brokerage account. So Lefkowitz's allegation was that the book was not true, NOT that Darvas LOST money.
2. Lefkowitz was later forced to admit that he did not have access to Darvas' foreign accounts, and also, of course, had to admit he didn't know what gains or losses Darvas had in those accounts.
3. Lefkowitz had to drop his investigation, there was never any proof that Darvas lied in his book.
My own opinion is that most of Darvas' gains came in his foreign accounts, (one was in Panama), and that his claim of $2M is reasonably accurate, could even possibly be 100% accurate. He was probably trying to avoid taxation, even though in his book he said he opened other accounts to keep his trading secret after he started trading on a large scale.
My own opinion on Lefkowitz - He was a typical New York lawyer with grand ambitions, (nothing ever changes, does it?), and got shot down when he went after Darvas.