Optionsellers.com goes bust and the apology video is painful to watch

JSOP said:
So this is what their Platinum Club looks like. Well at least they get a free annual trip to Florida every year to discuss how much more money they were going to give to this guy. Unreal!!

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JSOP said:
True. It didn't dawn upon me before because we were so focused on James Cordier that those accounts were with FCM, FC Stone directly under those clients' name so FC Stone also has their due diligence to determine the suitability of the investment for those clients according to their age, trading experience, risk tolerance. I wonder if they had to fill out that "know your client" questionnaire that asks specifically about their age, trading experience about the instrument that they wanted to trade and their risk tolerance and if they did, what did the client write on those questionnaire. Then again optionsellers.com was probably acting as introducing broker to FC Stone so would James Cordier have more responsibility to know the client? If James Cordier filled them out on their behalf making them out to be experienced and knowledgeable about trading derivatives on commodities futures, then that's lying and fraud.

That we would have to let the court decide.
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I have a feeling he filled them out for them.
 
JSOP said:
I still stand by my estimate that the loss is lot larger than the $150 million that optionsellers.com's manager has given out. According to this twitter message, this woman and her husband lost $1 million, their entire life saving. If this is true, this is the typical account or average account size, then the loss is at least $290 million. I wonder is that $93K the management fees or their debit balance.

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Um, N-O!!!!!

I declare with pouty lips Fake news. What elderly woman with a NINETY-YEAR-OLD husband invests their entire life savings of a convenient and even $1,000,000 in any kind of fund? Why not invest 25% of it in Washington Mutual and take the darn 2%, and live on the rest? Helloooooo out there? (echo...echo...echo...)
 
Overnight said:
Um, N-O!!!!!

I declare with pouty lips Fake news. What elderly woman with a NINETY-YEAR-OLD husband invests their entire life savings of a convenient and even $1,000,000 in any kind of fund? Why not invest 25% of it in Washington Mutual and take the darn 2%, and live on the rest? Helloooooo out there? (echo...echo...echo...)
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Correction: They had more than a $1 million in the account. The guy is NINETY-YEAR-OLD, how can you be sure the woman is elderly? :sneaky: Furthermore, have you met every single person on this planet of earth?
 
JSOP said:
Correction: They had more than a $1 million in the account. The guy is NINETY-YEAR-OLD, how can you be sure the woman is elderly? :sneaky: Furthermore, have you met every single person on this planet of earth?
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Did you not notice her Twitter profile pic? We can only assume that is the wife, and also be kind and assume that that is natural age showing. If the woman in the pic is 30 YO? 20YO? Then she needs to stop smoking meth, snorting crack through her eyes and take more fish-oil, because she is aging more rapidly than you'd expect from a 20 or 30 YO woman.
 
Overnight said:
Did you not notice her Twitter profile pic? We can only assume that is the wife, and also be kind and assume that that is natural age showing. If the woman in the pic is 30 YO? 20YO? Then she needs to stop smoking meth, snorting crack through her eyes and take more fish-oil, because she is aging more rapidly than you'd expect from a 20 or 30 YO woman.
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How can you be sure that's her real pic? :sneaky: You put your real pic as your online profile/avatar pic?
 
Overnight said:
Um, N-O!!!!!

I declare with pouty lips Fake news. What elderly woman with a NINETY-YEAR-OLD husband invests their entire life savings of a convenient and even $1,000,000 in any kind of fund? Why not invest 25% of it in Washington Mutual and take the darn 2%, and live on the rest? Helloooooo out there? (echo...echo...echo...)
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I agree, I think it is fake news, but c'mon man don't kill the fun!! On the other hand, you have to think about how uneducated his clients were about options. I mean one look at that spread sheet would have any reasonable investor running for the exits. So I would not be shocked if he actually did have some questionable clients.
 
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