Robbins World Cup E-mini Contest

[Thunderdog]

Austinp,

In 1987, when the contest was still underway, Robbins advertised about offering managed accounts by the "World Cup Trading Team." Ostensibly, this trading team was to be comprised of the top traders in the contest. Interestingly, Larry Williams was already identified as a member of this World Cup Trading Team even though the contest was not even half over! So it seems that there are indeed some people who can see into the future. Needless to say, the NFA did some toothless wrist-slapping.

Austinp, I find your faith in the human nature and decency of vendors like Larry to be heartwarming if perhaps somewhat misguided. Don't ever lose that innocence.

P.S. You rationale for the poor performance in the managed accounts does not quite hold. As I noted earlier, the managed accounts were hemorrhaging at the same time that Larry's personal account was flourishing. Did I mention time stamps?

 

[marketsurfer]

Quote from Thunderdog:

Austinp,



P.S. You rationale for the poor performance in the managed accounts does not quite hold. As I noted earlier, the managed accounts were hemorrhaging at the same time that Larry's personal account was flourishing. Did I mention time stamps?

these allegations are baseless.

LW was investigated for "marketing issues" not trading/contest fraud.

by the way, larry's book on the commodity report is excellent!!

highly reccomend it to everyone.

surf

 

[Thunderdog]

Quote from Pekelo:

Just 2 quick more questions and I let you go since you are not really answering the question:

1. How those 120 books effected your trading? After 14 years and 120 books, I hope you are consistently profitable...

2. If you haven't read Larry's books, how do you know if they are good or bad?

I have not traded for as long as I have read about the markets. I have seen Larry's books in bookstores and leafed through them. That was more than enough. "Keys to the kingdom," "Money Tree," ad infinitum ad nauseam. Plus, I somehow got onto his mailing list several years ago via a previous broker, I suppose. I simply cannot believe the worthless bullshit that some people are buying into, particularly when he essentially talks down to his readers. And, finally, Gallacher's book put it all together for me into nice bite-sized portions.

Thanks for asking.

 

[marketsurfer]

Quote from Thunderdog:

Austinp,



P.S. You rationale for the poor performance in the managed accounts does not quite hold. As I noted earlier, the managed accounts were hemorrhaging at the same time that Larry's personal account was flourishing. Did I mention time stamps?

these allegations are baseless, without merrit and bordering on malacious.

LW was investigated for "marketing issues" not trading/contest fraud.

by the way, larry's book on the commodity report is excellent!!

highly reccomend it to everyone.

surf

 

[marketsurfer]

Quote from Thunderdog:

I have not traded for as long as I have read about the markets. I have seen Larry's books in bookstores and leafed through them. That was more than enough. "Keys to the kingdom," "Money Tree," ad infinitum ad nauseam. Plus, I somehow got onto his mailing list several years ago via a previous broker, I suppose. I simply cannot believe the worthless bullshit that some people are buying into, particularly when he essentially talks down to his readers. And, finally, Gallacher's book put it all together for me into nice bite-sized portions.

Thanks for asking.

tdog gets all his information from a paragraph in gallacher's book.

ask LW directly what occured between him and gallacher resulting in the smear comments.

surf

 

[Thunderdog]

Quote from marketsurfer:

these allegations are baseless, without merrit and bordering on malacious.

LW was investigated for "marketing issues" not trading/contest fraud.

by the way, larry's book on the commodity report is excellent!!

highly reccomend it to everyone.

surf

Are you forgetting yet again?

http://www.elitetrader.com/vb/showthread.php?s=&postid=1007920#post1007920

Findings and Conclusion:

”There is no question that Mr. Williams's personal trading accounts had a material effect upon his composite trading performance. The record reflects that for the first quarter of 1987, Mr. Williams's composite performance showed a loss of $6,122,281, while at the same time Mr. Williams's personal accounts experienced a gain of $902,599. The Panel finds that the fact Mr. Williams was making significant gains while managed customer accounts were suffering considerable losses would be a material fact which a potential customer would need to know in order to make a fully reasoned decision.”

The enforcement attorney at the NFA confirmed that this finding is on record at the NFA. Read it slowly: "...at the same time..."

 

[marketsurfer]

Quote from Thunderdog:

Are you forgetting yet again?

http://www.elitetrader.com/vb/showthread.php?s=&postid=1007920#post1007920

Findings and Conclusion:

”There is no question that Mr. Williams's personal trading accounts had a material effect upon his composite trading performance. The record reflects that for the first quarter of 1987, Mr. Williams's composite performance showed a loss of $6,122,281, while at the same time Mr. Williams's personal accounts experienced a gain of $902,599. The Panel finds that the fact Mr. Williams was making significant gains while managed customer accounts were suffering considerable losses would be a material fact which a potential customer would need to know in order to make a fully reasoned decision.”

The enforcement attorney at the NFA confirmed that this finding is on record at the NFA. Read it slowly: "...at the same time..."

what is the NFA's attorneys name that confirmed the above?

surf

 

[Thunderdog]

Quote from marketsurfer:

tdog gets all his information from a paragraph in gallacher's book...

...Which has not been contested by Williams. Curious, isn't it, since if it were false then Gallacher and his publisher would have a legal liability on their hands. And yet, the book continues to be published, unmolested by Larry or his attorneys. Go figure.

 

[Thunderdog]

Quote from marketsurfer:

what is the NFA's attorneys name that confirmed the above?

surf

No can do, bro. But feel free to call them, and they will send you the exact same findings. Alternatively, I was also advised that anyone could get the full text of the findings by going to a local library and looking at the annual NFA Manual published by Warren Gorham Lamont Publishing. Although annual publication of this manual ceased in 1993, you will be able to find the Conclusion in question by consulting the appropriate year. Remember, the incident in question occurred in 1987, but dragged on to 1990 with the appeals process. Therefore, you may wish to check the manuals for that entire period.

You now know where you can independently verify every single word that I wrote. Please do so.

 

[Thunderdog]

Quote from marketsurfer:

these allegations are baseless...

Marketsurfer,

You should be ashamed of yourself. You lack integrity and intellectual honesty and it continues to show. We have already covered all of this before. You may choose to interpret the facts however you wish, but I find it appalling and repugnant that you would repeatedly try to misrepresent the facts themselves. Have you absolutely no honor?

Quote from marketsurfer:

...by the way, larry's book on the commodity report is excellent!!

highly reccomend it to everyone.

As "recommended" as your endorsement of Covel's book?