Karen at court
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Exactly. This is the key, I would say, to successful prosecution. Although it is not illegal per se to roll losses forward, it will be quite easy for the prosecution to show that her scheme trades had a very low probability of making money and a high probability of losing to transaction costs. and therefore could not be in the best interest of her clients. Ergo, there must have been another reason for those "scheme trades." "Miss Bruton, would you please be so kind as to explain that reason to the Jury."
The coup de grâce should come when the prosecution explains what the affect of the Hope redemption calculation would, in all likelihood, be on remaining investors. "Now, Miss Bruton, have you ever heard of a man named Charles Ponzi?
And to the jury after final arguments: "If the glove fits, you must convict."
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There were some legal Answers filled this week by Karen.
https://www.pacermonitor.com/case/1...xchange_Commission_v_Hope_Advisors,_LLC_et_al
Here are the upcoming deadlines:
"ORDER granting72 Motion to Amend Scheduling Order. Defendants shall answer or move to dismiss the Second Amended Complaint by October 16, 2017; Reports from testifying experts are due by December 15, 2017; Supplementations and rebuttal expert reports are due by January 26, 2018; The Discovery period shall expire on February 16, 2018.e) Motions for Summary Judgment are due by March 16, 2018; The Proposed Consolidated Pretrial Order is due by April 27, 2018 if no summary judgment motions are filed, or within 30 days after any ruling on summary judgment motions;"
https://www.pacermonitor.com/case/1...xchange_Commission_v_Hope_Advisors,_LLC_et_al
Here are the upcoming deadlines:
"ORDER granting72 Motion to Amend Scheduling Order. Defendants shall answer or move to dismiss the Second Amended Complaint by October 16, 2017; Reports from testifying experts are due by December 15, 2017; Supplementations and rebuttal expert reports are due by January 26, 2018; The Discovery period shall expire on February 16, 2018.e) Motions for Summary Judgment are due by March 16, 2018; The Proposed Consolidated Pretrial Order is due by April 27, 2018 if no summary judgment motions are filed, or within 30 days after any ruling on summary judgment motions;"
Exactly. This is the key, I would say, to successful prosecution. Although it is not illegal per se to roll losses forward, it will be quite easy for the prosecution to show that her scheme trades had a very low probability of making money and a high probability of losing to transaction costs. and therefore could not be in the best interest of her clients. Ergo, there must have been another reason for those "scheme trades." "Miss Bruton, would you please be so kind as to explain that reason to the Jury."
The coup de grâce should come when the prosecution explains what the affect of the Hope redemption calculation would, in all likelihood, be on remaining investors. "Now, Miss Bruton, have you ever heard of a man named Charles Ponzi?
And to the jury after final arguments: "If the glove fits, you must convict."
Piezoe, Love your occupation.
I wonder if there ever was a case (not just trading related) when the court said: it is simply just too complicated to explain it to the average juror and they can not make an informed decision on it. This case comes pretty close to that.
I mean DNA you can kind of dumb it down "explain it like I am five" style, but how do you simplify derivatives rolling and futures hedged with options? I guess they could use a checkbook trickery analogy.
Watching the Menendez TV series, at the first trial the jury was divided strictly along gender lines. For Karen anyone over 50 will vote for acquittal.
I mean DNA you can kind of dumb it down "explain it like I am five" style, but how do you simplify derivatives rolling and futures hedged with options? I guess they could use a checkbook trickery analogy.
Watching the Menendez TV series, at the first trial the jury was divided strictly along gender lines. For Karen anyone over 50 will vote for acquittal.
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I'm 58 and would definitely not be leaning toward acquittal.
And that selling premium is not a sustainable strategy.
When I first learned about Karen's purported success, I started to doubt some of the wiser voices on this forum who cautioned that naked premium is not a long-term strategy that works. You're essentially selling other trader's stops. The demise of Karen really drives that point home.
Tell that to Tom Sosnoff. He says in this interview that selling premium is the only possible way to make money. He says that all other methods are "horse shit". Didn't this guy have his daughter trade his method and she failed so they pulled all of the videos?
I knew Karen was a phony the minute I saw her interviewed saying "I never give premium back, I keep rolling". You clearly cant survive in such a way.
Check out this interview with Sosnoff. He tells you the only possible way to make money while insulting all other methods...
Thanks for posting this interview (with a link that starts the playback at just the right time).
Sosnoff sounds sincere in his conviction. I may also be a sucker for a good con. I wonder if this disconnect is the result of a former pit trader like Sosnoff who tries to transition his successful floor strategies to the screen.
It would be great to listen to a debate between Sosnoff and Taleb.
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