Reading all of your stupid comments on this post reassures me that I’m the only one making money among you idiots. If you guys spent as much time focusing on your trading as you do bashing Karen, you might have a chance.
Karen the Supertrader speaking at tastytrade ‘s Geeks on Parade
- Thread starter Sweet Bobby
- Start date
It is, you sad, pathetic man. If it wasn't beside the denial you could have brought up actual ARGUMENTS or FACTS. You couldn't. She was convicted of fraud and right now she can't trade the HF. Thus even your comment on her making money is not true, at least you have no way of knowing. Seriously, give it up, it isn't even funny anymore...
You couldn't even got her appearance's date right. By the way I bet you she won't show...
But I hope you donated money to her charity...
This is exactly like casinos that sell blackjack systems in their own gift shops. Tastytrade exists to funnel business to their brokerage and generate commissions. Exact same model as Thinkorswim when he helped found that.
Let me respond to you twice, at this time using someone else's opinion.
https://steadyoptions.com/articles/karen-the-supertrader-too-good-to-be-true-r160/
"Tastytrade Response
Tom Sosnoff was asked to respond to Karen Bruton story after the SEC complaint. You can watch his response here (18 minute mark). He continues to defend her, calls her "a very special person" and a victim of an evil government. Tom calls all the publications about Karen "crap". He claims that Karen was actually not paid enough in her fund. However, according to the SEC complaint, "Between November 2014 and March 2016, Hope collected over $6 million in incentive fees from the HI Fund. As of the same date, the HI Fund had unrealized losses of approximately $57 million." So she took $6M in illegal fees while the fund was down $57M, and Tom says that she was underpaid...
Sosnoff also continues to claim that Karen "made ton of money" for her investors. He still sticks to his claim that she turned $100k into $105M between 2008 and 2011, "forgetting" to mention that most of those profits came from new investors money. God knows his true motives, but this article from 2014 gives some insights into the whole "tastytrade/dough/TD Ameritrade" scheme."
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Tom's own words in the video (18min) about Karen:
https://www.tastytrade.com/tt/shows.../episodes/talkin-with-tom-and-tony-06-06-2016
He claims at the end that those 4 Karen videos drove 1 billion worth of business towards TDA. Of course he has no way of knowing that because even earlier he acknowledged that after the ToS sale they didn't see the numbers. But he does have a point, using such a success stories (Hey, even a grandma can do it!) generate business for their affiliates.*
He claims to read the official complaint (what was pretty clear by the way) yet he is bashing TheStreet and other online financial entities of their treatment of Karen, yet somehow he forgets to mention the loss of capital and just quickly poo-pooed over the fraudulent trades (clearly described in the complaint), like that was not such a big deal.
So, this is why we are not that crazy about Tom...
*If you wonder about the business connection:
http://johnsville.blogspot.com/2014/11/tastytrade-shill-with-skills.html?m=1
I would be fascinated to know if Tom Sosnoff refutes to this day what Karen Bruton agreed to in Federal Court four months ago. Bruton agreed with the SEC that she engaged in a continuous ongoing pattern to hide trading losses and collect fees fraudulently.
The fact of the matter is that the NFA performed an extensive audit of Hope Advisors, LLC trading activities, account capital allocations, and all of Karen Bruton's communications with her clients. This audit formed the basis for the SEC's criminal complaint. Financial regulators blocked Bruton from accessing $7 million in fraudulent fee calculations in the firm's account when the SEC complaint was filed in 2016. And on September 14, 2018 Karen Bruton agreed with the SEC charges via consent decree and the US District Court for the Northern District of Georgia entered a final judgement against Bruton.
"Hope has been using the Scheme Trades to avoid realization of more than $50 million in losses, while still earning large monthly incentive fees."
https://www.sec.gov/litigation/admin/2018/34-84198.pdf
You are right, I tried the strategy when I started out after watching tt. Mechanically made hundreds of small trades a month writing OTM covered calls and cash secured puts to "earn extra cash". All I did was made Schwab lots of money, so much so that they actually cut my commissions by half. I netted a lost (compared to buy and hold) after 6 months of trading.
The only way to play the option game if you sell options without positive expectancy is to gamble a few times with huge leverage and let the 70-80% win probability works for you then quit.
Bobby, I have followed you right from the very beginning, and although I respected you back then, what you're doing now makes me scratch my head. You seem to have this fascination with protecting Karen as if she was your God, so you're avoiding any of this legitimate information that is highly pertinent. Its not like the realization that she has committed fraud will affect you in any way, will it? If your trading really is going well, why does is matter what the end result is with Karen? From my perspective, it seems as though either you're heavily involved with her, in which case her business is your business, or you're not doing as well as claimed.
Furthermore, the fact that what you were doing to make such nice gains in the past little while by buying puts vs. selling options is really nothing like what you were describing at first, and so fiercely defending as a viable strategy. You always struck me as the type of guy who wanted respect from ET, but when you completely change the parameters, then you have to be willing to take some heat as well, and not feel justified in calling everyone else trolls, etc.
All the hard work that i thought you did before to build up credibility you have now just ruined in my opinion.
Furthermore, the fact that what you were doing to make such nice gains in the past little while by buying puts vs. selling options is really nothing like what you were describing at first, and so fiercely defending as a viable strategy. You always struck me as the type of guy who wanted respect from ET, but when you completely change the parameters, then you have to be willing to take some heat as well, and not feel justified in calling everyone else trolls, etc.
All the hard work that i thought you did before to build up credibility you have now just ruined in my opinion.
My guess is that he blew up or had a large loss at some point in the last few years and now he is just trolling
Perhaps, cause something really doesn't add up. He kept stating how much in control he was of his portfolio and how superior it was to what Karen was doing. But then, and not that I know much about selling premium, he seemed to do well during downturns. Not sure how it's possible when you're the guy selling insurance. Perhaps saying he was now a buyer of puts really was the only way to save face. With the market dropping 20%, how else can a guy selling protection survive?
He’s a troll. It’s all made up.