For those that are interested, the speculation will be over Monday morning. They are having a meeting at 8:30 am in New York. All will be revealed then.
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worldco going out of business??
- Thread starter st0ckman
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Quote from Maverick74:
Metooxx, where have you been lately man? Are you still in the Bahamas?
Just curious, do you know something we don't know about Worldco? There seems to be a lot of speculation out there about this once daytrading titan.
Just busy traveling; I have been on the road since mid August, give or take a week or so.
Yes but we are relocating to the Virgins. Rented a house in St. Thomas last week.
Heard from a reliable source in NY yesterday that the principals are not going to fund anymore operating losses.
And since they are burning money ...
Quote from metooxx:
Just busy traveling; I have been on the road since mid August, give or take a week or so.
Yes but we are relocating to the Virgins. Rented a house in St. Thomas last week.
Heard from a reliable source in NY yesterday that the principals are not going to fund anymore operating losses.
And since they are burning money ...
sweet. lots of nice places to rent? did you look @ St John?
I too have heard thru a source in NY and LA that the meeting will be informing traders of the shutting down of operations. I wonder what happens to the deferred compensation of profits that they use to hold on traders. Assuming this all does happen it would really seem to kill the concept of the large prop equity firms seeing as the 2 largest equity prop firms seem to be going out of business or have severly cut back like schonfeld.
Quote from downtickboy:
I too have heard thru a source in NY and LA that the meeting will be informing traders of the shutting down of operations. I wonder what happens to the deferred compensation of profits that they use to hold on traders. Assuming this all does happen it would really seem to kill the concept of the large prop equity firms seeing as the 2 largest equity prop firms seem to be going out of business or have severly cut back like schonfeld.
If all this is true, everyone might want to refer to the many posts I have made in the past about "checking the darn balance sheets" and making sure your money does not become "their" money (the firm's). All traders should run their trading business as they would any other business....know who you're dealing with, etc. (believe it or not, this is not just a BT plug, there are, of course, other firms tha share this information)....check before you sign.
All the best!!
Don
Why would anyone stick with a bucket shop if there's a possibility that it can go under? It seems this Worldco is always going under one on message board or another...if its that problematic, who in their right mind wants to stay there...or at any bucket shop in general?
If ya have enough to trade from home, why bother with these places?
If ya have enough to trade from home, why bother with these places?
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