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Did Fidelity Cheat Its Own Client Out of Millions of Dollars?
- Thread starter Ninja
- Start date
Quite a read there Ninja.
IMO the main point is that was the company going to go bankrupt anyway? If so Deutch didn't have a leg to stand on. Didn't matter what fidelity did or Deutch buying the shares. They completely screwed up BTW, fidelity that is.
So many interesting points from that story tho. The main being Fidelity loaing out his shares from under him is the most important.... then trying to cash in on the loans for the short selling. AHAHAHA...busted..
You've really gotta wonder whats going on out there that we don't know about.
IMO the main point is that was the company going to go bankrupt anyway? If so Deutch didn't have a leg to stand on. Didn't matter what fidelity did or Deutch buying the shares. They completely screwed up BTW, fidelity that is.
So many interesting points from that story tho. The main being Fidelity loaing out his shares from under him is the most important.... then trying to cash in on the loans for the short selling. AHAHAHA...busted..
You've really gotta wonder whats going on out there that we don't know about.
Great story... They'll probably quietly settle at a level where everyone's happy. Primarily, because it doesn't look good for Fidelity, regardless of what happened with the Chinese company.
"A tieless Jeff Bezanson, vice president of Relationship Management, who became Deutsch’s rep, says in the video that when on the phone, customers relish the blast of a bullhorn the sales staff uses to mark “a good client experience.”
they could have use his floor/office for a scene in wolves of wall street.
they could have use his floor/office for a scene in wolves of wall street.
"In January 2012, Barclays recommended that investors “overweight” the stock. It described China Medical as “one of our top picks” and “a premium domestic player in the protected China medical diagnostics space, with a 70 percent potential upside.”
the analyst probably got a free trip to china and a few whores thrown in.
the analyst probably got a free trip to china and a few whores thrown in.
let's see if Fidelity gets hit with a substantial penalty from the SEC, including a freeze for a lengthy period on their fully paid stock lending program.Great story... They'll probably quietly settle at a level where everyone's happy. Primarily, because it doesn't look good for Fidelity, regardless of what happened with the Chinese company.
That's probably why they'd settle as soon as they suspect it could get anywhere near that...let's see if Fidelity gets hit with a substantial penalty from the SEC, including a freeze for a lengthy period on their fully paid stock lending program.
Yeah, I thought that was funny. My only question would be who the "client experience" was actually "good" for? Was it the client or Fidelity?"A tieless Jeff Bezanson, vice president of Relationship Management, who became Deutsch’s rep, says in the video that when on the phone, customers relish the blast of a bullhorn the sales staff uses to mark “a good client experience.”
they could have use his floor/office for a scene in wolves of wall street.
"Not everybody agreed. John Hempton, an Australian short seller, says he cautioned the Deutsches in a letter back in September 2011 that AER might be leading them astray, only to hear from a lawyer. “I got back, via overnight international courier at a cost of about $300, a letter threatening to sue me” if he contacted the Deutsches again, Hempton says."
how did Hampton know about the Deutsches position and AER?
how did Hampton know about the Deutsches position and AER?
See here:"Not everybody agreed. John Hempton, an Australian short seller, says he cautioned the Deutsches in a letter back in September 2011 that AER might be leading them astray, only to hear from a lawyer. “I got back, via overnight international courier at a cost of about $300, a letter threatening to sue me” if he contacted the Deutsches again, Hempton says."
how did Hampton know about the Deutsches position and AER?
http://brontecapital.blogspot.com/2012/05/stock-called-comedy-joke-is-on-someone_09.html