Larry Williams arrested in Sydney for tax evasion

Quote from jem:

what exactly does larry do in front of the live audience. From what I have heard from attendees is is puts on a few trades in front of them and then trades out of them after the seminar is over. Giving some of the costs of the seminar back if there are profits. But it could all be funny money with funny exits. I will charge you 5000 and if my trades are good I will give you back 2000.

There is no denying he is an excellent marketing man.
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I agree with everything but your arithmetic. Larry reportedly trades with $1 Million during his seminars. Assuming for the moment that he earns $100,000 during a 2- or 3-day seminar, that means he shares $20,000 with the attendees since his profit sharing payout is reported to be 20%. So, if there are, say, 50 seminar participants, then each one gets only $400, if that. I don't know how many dilettantes he draws per seminar, but what do you think the chances are that he comes anywhere close to $100,000 in trading profits during a typical seminar? (It has been argued by some people in these forums that he has doubled the value of his initial stake over the course of 10 or so seminars. My guess is that all of the devotees know someone who knows someone who was at such a productive seminar. However, they themselves were probably not.) Run a few reasonably repeatable scenarios in terms of number of attendees and the typical trading profits per seminar, and I think you will find that the resulting payout to each participant is nominal.

So, it would appear that the math supports your conclusion. Larry knows his MARKETing.

Just curious. Do you think that any of the people enamored of this profit sharing scheme have any idea that it is factored into the price of the seminar?
 
remember, LW is being accused of evasion, etc. nothing has been proven yet----- untill this situation is properly ajudicated all the speculation is simply hearsay.

what curtis stated earlier makes perfect sense and appears to be most likely the case based on what i know about the tax programs in the virgin islands.

surfer
 
Quote from Thunderdog:

I agree with everything but your arithmetic. Larry reportedly trades with $1 Million during his seminars. Assuming for the moment that he earns $100,000 during a 2- or 3-day seminar, that means he shares $20,000 with the attendees since his profit sharing payout is reported to be 20%. So, if there are, say, 50 seminar participants, then each one gets only $400, if that. I don't know how many dilettantes he draws per seminar, but what do you think the chances are that he comes anywhere close to $100,000 in trading profits during a typical seminar? (It has been argued by some people in these forums that he has doubled the value of his initial stake over the course of 10 or so seminars. My guess is that all of the devotees know someone who knows someone who was at such a productive seminar. However, they themselves were probably not.) Run a few reasonably repeatable scenarios in terms of number of attendees and the typical trading profits per seminar, and I think you will find that the resulting payout to each participant is nominal.

So, it would appear that the math supports your conclusion. Larry knows his MARKETing.

Just curious. Do you think that any of the people enamored of this profit sharing scheme have any idea that it is factored into the price of the seminar?
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I was invited to attend one of Larry's Seminars in the Caribbean a number of years ago. Needless to say it has been the ONLY Seminar I have ever attended. I was a guest and didn't have to pay but got to reap the benefits of Larry's trading over the 3 day session.

I returned home to receive a check for $18.65 and there were 75 people in attendance. At the time it ALMOST covered my gas to and from the airport. No complaints because I didn't pay for the Seminar but the idea of someone sharing the trading profits off one million dollars and the $18.65 check doesn't seen to equate. From a marketing standpoint it makes perfect sense just as Thunder stated.

The Seminar, even being free, wasn't a waste of my time, I got a little tan out of the trip.
 
Larry actually has some good points in his book "The Right Stock at the Right Time"
I.e. stocks rise when money supply booms :D

But I've never been to a seminar. Never will. Books are good enough at a few dozen dollars...
 
Hmm I smell opportunity!
What we should do now is buy up all the tickets to the seminar for pennies on the dollar and threaten to sue Larry :D(in secret, I would settle for a 50 cent on the dollar payout but hey, the first person to mention a number in a negotiation loses)
 
Quote from marketsurfer:

remember, LW is being accused of evasion, etc. nothing has been proven yet----- untill this situation is properly ajudicated all the speculation is simply hearsay.

what curtis stated earlier makes perfect sense and appears to be most likely the case based on what i know about the tax programs in the virgin islands.

surfer
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Astonishing! Do you even bother to read what you write?

In your first sentence, you frown upon speculation and hearsay. In your next sentence, you advise us of the "most likely" scenario! Tell me the truth. Do you own a clown suit?
 
Quote from Thunderdog:

Astonishing! Do you even bother to read what you write?

In your first sentence, you frown upon speculation and hearsay. In your next sentence, you advise us of the "most likely" scenario! Tell me the truth. Do you own a clown suit?
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Welcome to my ignore list.
 
Quote from tamaharbor:

You guys are just jealous.
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I cannot speak for Larry's other critics. However, if I were going to take the time and trouble to be jealous of someone, then I would likely choose more wisely.
 
I've met LW and been to one of his seminars as a guest - he's a stand up guy.

Look - there is a huge public interest in get rich quick ideas. Everyone wants the keys to the kingdom for $19.95. No one wants to be told hard work and talent are the only sure paths to success.

Like other vendors, LW is simply supplying to meet that demand. Because of his reputation, the option is open to him to do that in a big way. So I can't blame him for that.

The public is dying to be deceived, it wants to give its money away - so this business attracts the most unsavory types around. That said - LW was surprisingly forthcoming in his presentations. He wasn't pushing rubbish, although I'm sure he wasn't giving away his daily trading plan either. Most of the attendees at all of these seminars are there for entertainment. I don't think 1 out of 200 go on to become serious traders.

They came and paid to be entertained with thoughts of forthcoming riches.

I don't know what kind of trouble he is in, but I think the IRS has everything to gain by staging this kind of medieval head on a stick scare tactic.

Are details of IRS investigations in the public domain?
 
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