Larry Williams arrested in Sydney for tax evasion

Gee the guy must suck if he can't turn 10k into two million every other year with shallow drawdowns.....




Quote from KRSNA:

Fact: Larry won the Trading Competition in 1987. He ran $10,000 up to $2 million but ended with $1 million at years end. Well done Larry.

Fact: Larry posted all his trades on a webpage back a few years ago from that competition. Good marketing.

(I downloaded all his statements and ran them through a money management program that told me why he has never done it again.)

Fact: That account had a 78% drawdown. This will KILL.

Fact: That account experienced a 50% drawdown every month. Fund managers feel really ill at 10% drawdown.

Fact: His Profit Factor was truly ill. Way below 1.5.(Compounding only works with a PF above 2.0)

After that analysis no need for me to spend any money at any of his workshops. Do your homework.

A fund he established after the comp had a 50% drawdown and he shut it down.

This is the real reason he chose to sell the How TO than the actually Do. There is a huge difference in actually trading for consistent weekly profits, and trading live at a seminar.

eg.Linda leventhal last I heard had not had a losing week since 1978. Now she is a real trader. How does she do it?

Fact: There is only one way to learn how to trade. Charlie D, the late great bond Trader said it.

"Time spent in the market with positions on. There is no other way, no other way, no other way."

Fact: That's how!
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Quote from OldTrader:/remiraz

Why should he retire when there's still a bunch of young guys like yourself around to take money from? Maybe you should contact T. Boone Pickens, one of the top hedge fund managers in your article, age 70+, and tell him you think he should retire. LOL!

OldTrader
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Right, and people are living longer also;
retirement @ age 65 is mainly a big corporate idea,
so they can pay the younger trainees much less money:p

Also people that hate thier job/work [ thats most people] retire early .
 
Who cares if he was arrested for tax evasion. It's not like he was arrested for lying on his training videos. He teaches daytrading. Whatever he is teaching in his books, videos, seminars must be good, because if they weren't, then he wouldn't have made that much money to owe the IRS. People keep buying and buying more.
 
Quote from wonderworld:

Whatever he is teaching in his books, videos, seminars must be good, because if they weren't, then he wouldn't have made that much money to owe the IRS.
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"Everyone is buying it, so it must be good". Ah yes, argumentum ad populum. It does make the capitalist wheels turn.

-segv
 
What is the update on Larry Williams? Any news articles telling that it was all a misundertanding? Did he go broke and file bankruptcy like all the rest of the stock market book authors? And is that why he didn't pay the IRS their 1.5 mill?

Or is it just a misunderstanding? His CPA forget to make out the check? The IRS lose Larry's check?
 
Larry was scheduled to be executed by firing squad in Sydney at 12:01am Wednesday morning.

Apparently the firing squad consisted of 8 nearsighted aborigines who had not fired a rifle in more than a decade. Two accidentally shot themselves trying to load their guns, several gave up after 34 unsuccessful volleys. At approximately 2:12am, one of the remaining aborigines dropped his rifle and it discharged, the bullet striking Larry in the head, killing him instantly. Mr. Williams had been leafing through an issue of "Juggs" magazine at the time of his death.

Steve
 
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