Hit by IB (and SEC)

Quote from nslaughter:

ChrisM,

are you really personally involved in all of the business ventures that you ask for advice about? You sound more like an attorney seeking legal advice from non-lawyers for several clients on some very complex issues.

If you are personally involved, you sound like an unrealistically busy guy with all of your international money management escapades. If you're living that way then it may be why an oversight has cost access to your accounts. If you don't slow down and manage some of the logistics then it might cost you more.

It could cost you the Forex introducing broker business that you were starting in July. http://www.elitetrader.com/vb/showthread.php?s=&threadid=20301
It could cost you the relationships with those that wanted you to manage their money earlier in July.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=19713
It could also cost you the other LP or LLC that you sought advice on a while back.

I know a guy that was trying to do business like this. It looked like he was making good money (he thought so too) for years. He was always spinning another deal with Canadian banks or Eurobonds and he was a lawyer doing some of the groundwork for his deals too. He's a lot more bitter now about the 18 months he did in the poky and a ban from securities than you are about the account suspension. You can get in way over your head if you try to do everything in this business and that can cause you to cross some lines you wouldn't even dream of in your right mind.

Don't try to do business from what you learn on internet boards. Get a good lawyer and follow their advice. This stuff can get way too complex to manage on your own.

Good luck.
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nslaughter,

1. Thank you for presenting so much interest in tracking my ET history :) It may sound like a joke, but I feel really honored by this.

2. No, I am not lawyer or so (I would not mind to be, but unfortunately had no chance to get such decent profession like this).

3. I really am very busy and lively person. And no matter what I can learn from books and schools I always listen to the dark side. My belief is that bright side of the story is available anywhere these days, but other side of coin is something which comes from experience, thus "voice of the street" is so much appreciated by myself.

Thank you for your advice. I am always open for the knowledge and new ideas and I don`t think it would be anything to be ashamed of.
 
ChrisM,

Doesn't sound like a joke. I see you all over these boards and just thought "Damn. This guy's into everything. There's no way I would take all of that on." Don't be too flattered though, because I try to get some background and other posts on a lot of people before I heed anything they write. I've found a lot of crap here, but I've also found some great wisdom that you don't usually find.

If you have the energy and find a system to manage it all then keep on truckin'. Don't let one silly mistake screw it up for you (did I already mention the well meaning broker/lawyer friend that went to the pen? - poor bitter bastard).

If people trust you enough that they want you to manage their money then you obviously have a good reputation with them. That kind of reputation is difficult to gain, but easy to lose. You don't need to be a lawyer (and I don't envy them). The best thing I've learned about attorneys is that hiring one is much cheaper than becoming one. Many times hiring them is also much cheaper than not hiring them.

Best
 
Quote from nslaughter:

ChrisM,

Doesn't sound like a joke. I see you all over these boards and just thought "Damn. This guy's into everything. There's no way I would take all of that on." Don't be too flattered though, because I try to get some background and other posts on a lot of people before I heed anything they write. I've found a lot of crap here, but I've also found some great wisdom that you don't usually find.

If you have the energy and find a system to manage it all then keep on truckin'. Don't let one silly mistake screw it up for you (did I already mention the well meaning broker/lawyer friend that went to the pen? - poor bitter bastard).

If people trust you enough that they want you to manage their money then you obviously have a good reputation with them. That kind of reputation is difficult to gain, but easy to lose. You don't need to be a lawyer (and I don't envy them). The best thing I've learned about attorneys is that hiring one is much cheaper than becoming one. Many times hiring them is also much cheaper than not hiring them.

Best
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OK nslaughter,

I have been trying to be nice regardless of invading my privacy but it does not seem to work.
You are right - this not a joke but the threat from you. And I think at this point you have been going too far.
I am not scared at all, neither interested in continuing this dialogue.
 
OK. That's understandable, ChrisM.
Why are you so scared suddenly after you posted this in a public forum?

I don't appreciate people in my private affairs either. That's why I don't post 'em on public boards. That was the first knock on your credibility. You on the other hand can't resist posting private matters, because even if it makes you look bad (like an acct suspension) you get attention. It's a strange way to brag, but you know what I'm talking about.

What happens to all of the businesses you start? Do you get half way there and quit? Do your investors back out on you? Do you eventually get banned from the businesses by regulators? WOW - that's sooo cool and intriguing.

Just stick to saying it how it is. Your posts are confusing, because you misrepresent some things. Just because it sounds believable to you when you make it up, doesn't mean it's convincing to others. If you're just curious and think you might need some info in the future then just state the question that way and I'm sure people will still help you out.

Another tip: Next time you screw up bad enough to get an account suspension, handle it professionally from there.
 
nslaughter,

Your fascination with ChrisM is starting to creep me out. He has indicated no desire to continue this. Please take it offline or out of the Retail Firms forum.

Thanks.
 
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