That is adhesion
Question about lawsuit for broker
- Thread starter lasner
- Start date
Sincerely, you are messing with the wrong people. @destriero was making more money in the markets than you make, as a teenager. Let that sink.
But, you made me remember something I had completely forgotten. Back in 2005, a relative of mine bought a $500K Annuity from a broker in Miami. He was offered a 5-year term, and a 5% guaranteed annual return (like a CD). Thankfully, he had a record of his email correspondence with this broker, and grew suspicious when the broker kept on asking him to extend the annuity from 5 to 7 years. Being elderly, he refused, but he asked me to investigate. I set up a meeting with this broker. Within 10 minutes, as I explained my background, I noticed he grew pale. I also noticed he was wearing an off the rack suit, and the Rolex, and French cuffs (his "costume"). I was in my usual white T-Shirt, cargo pants, and Puma sneakers. This poor motherfucker never expected my background in finance, and he visibly freaked out.
There was no guaranteed 5%, he had lied, and had pocketed a $30K commission on this Annuity. When I confronted him with my findings, he denied everything. BUT, then I went to BrokerCheck, and found that he had a pattern of behavior. He had done this before. I contacted a very good lawyer, who advised me to just leave it, as legal costs would easily go into $50K plus. Annuities are basically not breakable once you sign. So I took it upon myself to get the money. I built a strong case (email evidence), and sent it to this broker's higher ups. At first, they defended him, then they got my FedEx package. Within 2 weeks, I had the $500K back, and $8K extra. This broker was let go within months. I will always remember my last phone conversation with him; he said "I have a family, and children. Is this just about the money, is that all you care about?". I answered "ALL I care about is the money", and he was fried. My point is that you may just need to research this, and these people may have a background of previous abuses.
https://brokercheck.finra.org/individual/summary/2903983
https://adviserinfo.sec.gov/individual/summary/2903983#disclosuresSection
I pretty much wrecked his life. Makes me smile when I think about it...
If you understand finance, nobody and I mean nobody makes money in day trading. NOBODY. You have mathematical probability theory and nobody can beat this. If you toss a coin 1,000 times you have a 99.999 percent probability chance of a 50/50 outcome and it is the same exact thing with trading and investing UNLESS you have insider information. That is how it goes.
If you don't understand this then you don't understand mathematics, finance, day trading and probability
Oh Lord, I was just pointing out ways to get your money back without the use of lawyers.
It's hopeless. I have been trading since 1998 (straight out of college, and FULL-TIME), so I probably just got lucky (and for a long time)!
Trading for you is just a side gig. And we need people like you! You literally feed us
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I know I appreciate it. The litigation I have is not a big deal, it's very small and I'm just doing it for principle. But no offense, you did not turn a profit since 1998 day trading. Not to sound like an asshole, nobody can, it's mathematically impossible without intel.
You make some valid GENERAL points. How those apply to your case is completely dependent on exactly how the conversation on the chat or phone with them went. Needless to saw you would need the recordings as evidence if you think you might have a case. I think you should drop it because I am pretty sure an arbitrator will find you had sufficiently much fault so that whatever fault he assigns to the broker will get you close to nothing in the very best of situation.
Can you just stop with your stupid line of argumentation. No matter how much money one made, how wealthy one is has zero bearing on an argument. The argument should be evaluated on its own merit. Are you some fresh off the boat immigrant from a banana republic that you suck the dick of ANYONE who appears to have made money? I hate this kind of stupidity
PS you wrecked that guy's life? Your life was already wrecked by a low iq and your relative was a retard who bought an annuity that came with a commission of about 20% off the entire expected total return. If your relative did not suspect bullshit then he/she must have been even more retarded than you are.
PS you wrecked that guy's life? Your life was already wrecked by a low iq and your relative was a retard who bought an annuity that came with a commission of about 20% off the entire expected total return. If your relative did not suspect bullshit then he/she must have been even more retarded than you are.