Michelle Williams...Commodity Trader and Actress

[Brass]

Quote from larrywms:

I was managing accounts prior to 1987 so perhaps that clears that up.

Accounts that came in prior to the 87 crash made a great deal of money. One such customer was Susan Kringle who sued me for $53,000,000 claiming here $60,000 account should have gone to that amount instead of the $460,00 or so the account close out at. That was her laywers arguments; the judge threw it out.

Others that started around the crash lost money. Remember mytrading account at Robbins went from 2,200,000 prior to the crash down to 750,000 and then I traded it back to 1,100,000...still down from the equity high. A few others managers lost then too as I recall. That's why they call it the "crash of 87'.

So it depends on when they came is as to how they did.

Hope that helps clarify this.

larry

That's all well and good. But I refer to the aggregate numbers, wherein you made almost 1 million for your personal account while in aggregate (including your clients) you lost over 6 million. This was during the SAME period. So I'm not quite sure how your response explains this disparity given that we are talking about the same period and comparing your personal numbers with the aggregate during that same period.

Also, I was hoping for an explanation of how Robbins knew well in advance of the completion of the contest that you would emerge as a trader of managed money and, therefore at least implicitly, a winner of the contest. I still find this matter vexing.

 

[larrywms]

Maverick74 is spot on...money chases performance and Hot hands always turn cold.

Economic Entropy at work

lw

 

[Joe Doaks]

And I say cut Larry some slack. No doubt he is taking Unsociable Insecurity like me, and is on Medicare, since they practically force you to take it at 65, on SS or not. If not on SS, he's out cash for Medicare. And he has to sell a lot of forecasts and tips on his website to pay for a Medicare supplement. And burial insurance becomes an issue, as at his age, death is no longer optional.

 

[larrywms]

Perhaps i was not clear; I was managing accounts at Ira Epstien and Robbins prior to ever entering the contest...so of course they knew that.

As to the NFA, please forgive my total recall of 25 years ago, but as i recall that was the charge but not what we resolved. The data put forth in the book you are citing is not factually correct. 25 years later I am still here and trading. For sure I could have done better at all times in my trading career.

Above and beyond all this I would suggest that 1) all traders have ups and downs. Turtle Richard Dennis lost 200 million is the example that comes first to mind 2) until i got a hande on money management I had amazingly hot streaks and then blow ups.3) I think my writing and such over the years speak for themselves about--what--if any--ability i have.

BTW here are todays close out trades


P/L summary for account as of Thursday, July 5, 2012 @ 10:11:09 AM (cst)



Trade No. Bought Sold Market Fill Price P / L Cumulative
40730-027941 2 HOQ2 2.5992 $15,279.60 $15,279.60
40730-204566 2 HOQ2 2.7811
40730-027942 1 ICTZ2 68.85 $1,055.00 $16,334.60
40730-204807 1 ICTZ2 70.96

 

[larrywms]

So far I have refused to take SS or Medicare...i think i am responsible for my own health.

 

[Joe Doaks]

Quote from larrywms:

So far I have refused to take SS or Medicare...i think i am responsible for my own health.

Interesting viewpoint. As for myself, I plan to live long enough to personally bankrupt both. I often say "The markets will always be with us!" Lately, though, I am not so sure. So I take the money. Helluva good ROI if you live long enough. It will buy an ounce of gold a month after Medicare is taken out. But that won't last for long.

 

[Joe Doaks]

Quote from larrywms:

BTW here are todays close out trades
Trade No. Bought Sold Market Fill Price P / L Cumulative
40730-027941 2 HOQ2 2.5992 $15,279.60 $15,279.60
40730-204566 2 HOQ2 2.7811
40730-027942 1 ICTZ2 68.85 $1,055.00 $16,334.60
40730-204807 1 ICTZ2 70.96

Heating oil and corn? I would have guessed ES and/or NQ, or maybe CL. But the IC numbers don't match my chart. And one lots?

 

[Joe Doaks]

Now what would I rather look at? Your mug or this on ZH? Betcha selling tees makes more than selling trading education.

 

[larrywms]

cotton..i do trade stock indexes but there is so much more low hanging fruit...

 

[Joe Doaks]

Quote from larrywms:

cotton..i do trade stock indexes but there is so much more low hanging fruit...

Thanks for the correction. Now I see the problem. I don't have ICE charting permissions. Ag is not my thing. You should see my vegetable garden. Lots of lizards and snakes. Not unlike the market.