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Karen the "Supertrader"
- Thread starter drmark27
- Start date
Quote from unclebond555:
There is nothing fake about her returns .. Tom is already a multi millionaire and has better ways to make money than coming up with a fake trader who could easily be exposed by someone that knows her if she is fake .
The reason why everyone can't do what she does is CAPITAL .. You need millions to really get into selling far out the money options and make meaningful money .
Most People just buy calls or puts because they are looking for lottery type returns . She, on the other hand makes a steady predictable return .
This is so incredibly f*cking stupid that I am almost speechless. Almost.
Why? she seems to be making modest returns probably averaging less than 20% a year.
Now any retail trader on elite trader should be able to emulate her results except no one wants to make just 20% here, because 20% on a small 10K account or a 50K account or even a 250K one isnt a lot of money.
Most retail traders want to make 100% or 200% or more and end up making a loss by over trading.
Now any retail trader on elite trader should be able to emulate her results except no one wants to make just 20% here, because 20% on a small 10K account or a 50K account or even a 250K one isnt a lot of money.
Most retail traders want to make 100% or 200% or more and end up making a loss by over trading.
How is delta-hedging overnight with futures going to protect you? To protect from negative convexity you need positive convexity, there is no other way.Quote from Bry:
I keep hearing that sellers of far out of the money opts will eventually blow up. Well, if you only do the major indices, you can protect yourself with futures contracts after hours, no?
I doubt her prime broker will take her down to earth nature into account when front ATM vols go to 45 and spot drops 15% in a week.Quote from southall:
I doubt she will have problems managing her risk properly when volatility goes crazy.
Quote from Option_Attack:
At first I thought it was this woman the so-called "Queen of Condors" http://www.traders.com/index.php/sa...real-world/1365-the-queen-of-the-iron-condors
But I guess it is yet another woman getting miracle returns from ICs?
Max has been selling ops on the S&P for a LONG time and even he takes a big hit sometimes :
Name of trading advisor: AIM and/or Max G. Ansbacher
Inception of client account trading: May 1995
Inception of client account trading pursuant to General Program: May 1995
Number of open accounts: 1
Aggregate client assets overall: $15,547,909Aggregate client assets traded pursuant to General Program: $9,374,353
Largest monthly drawdown (5-year period): (20.76)% (9/08)
Largest peak-to-valley drawdown (5-year period): (32.01)% (12/07-10/08)
Number of accounts both opened and closed with a profit (5-year period): 6
Range of returns experienced for profitable accounts (5-year period): 0.02% to 5.95%
Number of accounts both opened and closed with a loss (5-year period): 11
Range of returns experienced for unprofitable accounts (5-year period): (.25)% to (18.71)%
2012 Annual Rate of Return: 13.68 (3Months)
2011 Annual Rate of Return: (18.76)%
2010 Annual Rate of Return: 11.77%
2009 Annual Rate of Return: 27.42%
2008 Annual Rate of Return: (28.95)%
2007 Annual Rate of Return: 5.25%
But I guess these gals just know more and have some "secret" method of avoiding getting "Niederhoffered"?
She's selling naked strangles, not ICs.
Quote from WS_MJH:
Honestly, I respect Tom's integrity that this is a true and valid story for people to hear. You have to remember that he's trying to create a network to reach out to investors. If he can show someone with no options experience can go from doing classes at investools to managing money, it makes for a good story for his network and for advancing his goals. I saw the video and she seems genuine, and Tom does go after frauds, see Tim Sykes.
This is the strongest reason why I tend to believe the story. In actuality though, it's not a reason at all. Some of the biggest con artists in Wall Street history have been trusted by the masses until their mugs ended up on "American Greed" (CNBC television series).
I have a problem. I started watching it and here it goes:
He: "Basicly people are throwing money at you right?"
She: Yes...
Then a little further she sais:
She: "Everybody knows how hard it is raising money, it's really hard for me to raise money"
Eugh, what is it now? Easy or Hard ?
I stopped watching after I heard that.
He: "Basicly people are throwing money at you right?"
She: Yes...
Then a little further she sais:
She: "Everybody knows how hard it is raising money, it's really hard for me to raise money"
Eugh, what is it now? Easy or Hard ?
I stopped watching after I heard that.
Quote from Pekelo:
I am actually surprised how open she is about the strategy. Watching the videos and with a little option experience, it can be recreated fairly well. You would think that one with a killer strategy and results would be more secretive....
Anyway, since somebody asked:
Well, I do. It is rather irrelevant compared to her fund managment, but it would show giant ballsiness and improvement if after 5 years of nothing she suddenly not just upped the account 10 times, but right away did a 50% return.
I found there to be many details missing--enough so that I question whether we have any idea what the "strategy" is (or if there is one, or if the story is real--hence my reason for starting this thread). For example, when the position gets pressured she simply claims to roll to whatever strike necessary to "make it whole" again. This is not always possible. In a market downturn like 2008, there are no such strikes.
Quote from marketsurfer:
Unless it was sosnoff himself who invested with the whole thing planned as a marketing campaign, I don't know anyone who would back such a program ....
Imagine seeing one night on the evening news Tom Sosnoff being carried out in shackles for alleged fraud. Could such a thing ever possibly happen given the history of trust betrayal on Wall Street?