I worked like a dog for 40 years, living in a studio apartment and eating beans. Recently I retired with a million dollars in savings. I thought...hey 2 million is a lot better than 1 so I flew to Monte Carlo. I walked up to the roulette table and put the whole wad on the black, it turned up red and now I live in a van down by the river.
Hello,
My friend's boss recently gave me $300k to invest it for him. My long time friend works in his firm and they have a very close relationship with each other so he recommended me to his boss given his boss constant dissatisfaction with his portfolio performance. To prove my returns, I just printed out my IB's portfolio Analyst report and gave it to him. He really like the fact that I have a good performance despite never using any leverage. So he decided to invest. He opened an IB account few weeks ago, funded it and gave the password to me.
To invest the money, I just decided to roll the dice and invested all of his money in far out of the money weekly SPY calls. The calls expired worthless few days ago. This man has already lost tremendous amount of money trading CFDs so I thought he has a very high risk tolerance. Plus we had no written agreement whatsoever and I didn't sign anywhere. He just told me he would give me 30% of his profits at the end of each quarter.
Finally a little about me, I personally manage a low 7 figure portfolio and trading is my full time job.
So I just want to know, what is my legal exposure? Thanks in advance.
What a BS Artist.To prove that I'm not a troll, I have attached my IB's portfolio analyst report here. I'm NOT one of those trolls who have never even traded in their life. So please help me. It is really killing me to see someone's portofolio is gone from $300k to zero in a very short period of time while my portofolio is up substantially over the same time.
https://www.elitetrader.com/et/attachments/screen-shot-2018-05-30-at-23-31-13-png.186744/

To prove that I'm not a troll, I have attached my IB's portfolio analyst report here. I'm NOT one of those trolls who have never even traded in their life. So please help me. It is really killing me to see someone's portofolio is gone from $300k to zero in a very short period of time while my portofolio is up substantially over the same time.
F**king hell, these posts are making me scared, I can't sleep now. As you can see I have attached my performance chart. I thought it is going to be a lot of fun because I had no downside. If It had worked out, great, if not who cares. I feel so bad right now for him! But hey he is a rich Chinese real estate investor. I hope $300k is peanuts for him!A lot of info missing from your story especially about the 7 figure portfolio your trading. For example, did you lose all of that money to in the same investment you lost the 300k when you decided to treat it like the casino ?
If not...why didn't you stick to the plan of that 7 figure portfolio especially if its profitable ???
Get a lawyer and hire a body guard...he's already lost a lot of money trading CFDs and now you come along and lose his 300k invest. You may have pushed that money over the brink into a situation where he's not thinking correctly.
Simply, he may be planning your death (assassination) as we speak right now. In fact, if he contacts you and wants a meeting in person...do it in public and bring your body guard. I've known people killed or beaten to near death for much less about money than what you did.
Yeah, he screwed up too via allowing you to invest his money outside of that 7 figure portfolio you mention especially if that portfolio is profitable.
wrbtrader
Sorry, Forgot to edit that out. I'm also a porn addict!British milf porn?
...But hey he is a rich Chinese real estate investor. I hope $300k is peanuts for him!
Amusing to say the leastSorry, Forgot to edit that out. I'm also a porn addict!
