Larry Williams arrested in Sydney for tax evasion

Quote from roberk:

It is pretty obvious that the likes of Larry and Linda rashke et al are making huge money from selling their supposed skills.
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I know that Linda Raschke was profiled in THE NEW MARKET WIZARDS, and that she has been doing seminars for well over a decade, but has anyone seen any evidence--physical evidence--of her trading ability?

At least Larry Williams turned 10K into over 2 million once (and lost millions too, of course).
 
Quote from Thunderdog:

Murray,

Perhaps my response was a bit pointed, and for that I apologize. However, your response of "Amen" was to a characterization that the news is equivalent to entertainment. Now, while this may certainly be the case more often than it should, it has been reported that Larry was arrested for "creating false documents and using multiple bank accounts to evade his huge tax bill."

http://www.financialdirector.co.uk/accountancyage/news/2156646/market-guru-facing-tax-evasion

That's a fairly straightforward and unvarnished accusation. I agree that the facts will indeed unfold in due course and that we should probably not rush to any unwarranted conclusions. (Perhaps I got a bit ahead of myself. That's OK, I'll wait.)

However, I am truly amazed at how quickly some people will speak in his defense despite his "colorful" history. Such people willfully ignore, at their peril, glaringly questionable yet fairly consistent conduct over time, and choose to see only what they want to see. And they call themselves "traders." I suppose that on some level, I should be grateful.
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Tdog;
I see your points ,apology accepted;
and agree with your point on mainstream media ''news is entertainment more often than it should be''

And those are very serious tax evasion charges.

Some people are wired to learn from a profit sharing seminar;
Would rather learn from a book or chart/internet.

Even if Larry is guilty of the charges, which may or may not be true;
still good points of his book , like''Money management is more important than your actual entry or exit''

:cool:
 
What do you mean by "physical evidence"? Eyeball visuals?

I was fortunate enough to spend time with LBR and the 5 days I was with her, she was net positive every day. 4-5 figures. Each day. Trading Big SP contract. 5 days does not a endorsement make but at least Linda trades. More than a few Wizards have cracked up, but at least they traded big enough to get there.

She had a few other positions both stock and futures that were longer term. And which I was not concerned about. KC and S

As far as LW, his best stuff is in his seminars. LW has fingers in alot of pies other than trading. Like weight loss/diet centers. I can tell many tales about LW. He is an interesting character.

He wears many hats, a modern day PT Barnum and he tells you straight out 95% of people including those at his seminars will decide that trading "is not for me" He feels no compunction about taking your money either.

I attended the first Million $ challenge, and watched him trade Big SP and 30 yr bonds to the tune of 300k in 4 days.

Of course maybe his broker on the phone was really the chef at the hotel and he was ordering lunch. But he did (out of the profits) knock 50% of the seminar price.

As a disclaimer, I own much of his stuff (LBR too). Neither of them are going to reveal how to park the Brinks truck up to the back of the bank, but if you pay attention to concepts you might learn something to help your trading as it helped mine.

Also, the sense of glee in LW's trouble regarding his alleged tax troubles is perplexing.

Especially when every other month a thread pops up on ET regarding, the Cayman Islands or how to set up domicile in Nevada when you live in California and how horrible life in the U.S is because of taxation. Just wait til Aunt Hilary is Prez.

Then maybe you will do what he just did(?) what you dont have the guts to try.

Just like trading.

Quote from smilingsynic:

I know that Linda Raschke was profiled in THE NEW MARKET WIZARDS, and that she has been doing seminars for well over a decade, but has anyone seen any evidence--physical evidence--of her trading ability?

At least Larry Williams turned 10K into over 2 million once (and lost millions too, of course).
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Good informative post Aok.

The disorder you're seeing here is called Schadenfreude.

It seems related to the serial failure to see the value in others ideas as people search for the holy grail (and then blame the providers of those ideas).
 
Quote from kiwi_trader:

Good informative post Aok.

The disorder you're seeing here is called Schadenfreude.

It seems related to the serial failure to see the value in others ideas as people search for the holy grail (and then blame the providers of those ideas).
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Some of us believe there should be truth in advertising. I started off with a lw course. It was basically filled with data mined garbage. Luckily it only cost me 200 bucks. I also reviewed his calls on web sites and subscriber services -- he was negative on on his calls every time I checked.

I was in LBRs chat room for about six months. Her calls for the subscribers were net negative during the six months I paid. Hey, perhaps they are profitable, now. If she wanted to give me a free subscription I would take. She does provide reasonable education.

I understand why you would want to be a guru. I had 5 years of greater than 100% returns. I loved going to work and making a living trading. Unfortunately I no longer can create those kinds of returns so I have to work for a living. I would probably rather be a guru. But I do not think there is much room for gurus who do not claim big returns.
 
Quote from marketsurfer:

prior to casting stones regarding spelling, i suggest you review your punctuation acuity. remember, there is a spell checker, however nothing to correct punctuation.

furthermore, what convinced you that i have any interest in debunking you? i have no interest in your claims, proven when you invited me at no cost to attend a seminar promoted on your website and i declined.

just look at your website, mr. bill--- your trades rarely lose. you have the holy grail and you are kind enough to share it for $2500.00 or so. i gave up a long time ago dealing with your claims--- no one can compete! however, i must thank you for the fodder--- it has made a great chapter in the upcoming book!


:D:D :D :D
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You are delusional. I don't have a public website. You are mistaken as usual. To be sure, you had better check again.

As far as my trading, yes, I rarely loose because I don't choose to use the dinosaur tactics of trading and astrology as you chose to do.

I also do not care what you do in your day to day existence. There was a time I respected what you stood for and truly wanted to show you what I found but any respect I every had for you disappeared with each close-minded arrogant holier-than-thou post you've thrown out here.

You also have no interest in keeping your word or being honorable either but then it follows the pattern of your very being.
 
Larry Williams .........IRS is the criminal element in this story.........Larry is innocent until proven guilty.........the IRS has proven a billion times to be guilty.......the modern day gestapo......they and congress are the public enemies #1.........
 
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