Comments on: Are Rogue Traders Stealing Us Blind? http://thetexasring.com/2009/11/01/are-rogue-traders-stealing-us-blind/ Common Sense In A Ridiculous World Thu, 09 Sep 2010 06:21:29 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Steve http://thetexasring.com/2009/11/01/are-rogue-traders-stealing-us-blind/comment-page-1/#comment-55 Steve Fri, 06 Nov 2009 21:04:33 +0000 http://thetexasring.com/?p=122#comment-55 I have managed get burned, and yes it really made me humble in my investing approach. I got burned on a call option on AOL, I think it was dec 1999. Two weeks into the trade the big anouncement came that AOL was to buy out Time Warner. The price drop by 1/2 the next day. There was no way I could know this merger was to take place. I cashed out every trade I had by Jan. 2000. and turned it to cash, but alas I was to stupid to convert my 401k to cash at the same time. I have managed get burned, and yes it really made me humble in my investing approach. I got burned on a call option on AOL, I think it was dec 1999. Two weeks into the trade the big anouncement came that AOL was to buy out Time Warner. The price drop by 1/2 the next day. There was no way I could know this merger was to take place.
I cashed out every trade I had by Jan. 2000. and turned it to cash, but alas I was to stupid to convert my 401k to cash at the same time.

]]> By: Greg Ward http://thetexasring.com/2009/11/01/are-rogue-traders-stealing-us-blind/comment-page-1/#comment-54 Greg Ward Tue, 03 Nov 2009 04:27:26 +0000 http://thetexasring.com/?p=122#comment-54 Tex, The problem now is the tax payer is footing the rogue traders mistakes. Tex,

The problem now is the tax payer is footing the rogue traders mistakes.

]]> By: David Calderwood http://thetexasring.com/2009/11/01/are-rogue-traders-stealing-us-blind/comment-page-1/#comment-53 David Calderwood Tue, 03 Nov 2009 00:24:32 +0000 http://thetexasring.com/?p=122#comment-53 Hi Tex, You and I are the only two people of which I'm aware who will openly admit we got our A$$E$ handed to us by Mr. Market. At this moment I've probably never been more confident of a trade...yet when the signal comes I will only risk 10% or less of my capital. Why? Experience is a costly teacher. It takes a long time to write off a big capital loss at $3K per annual tax return. My favorite pastime is reading the recommendations these days by people who are trying to make a living telling others how to invest (speculate). If there has every been a greater illustration of mass ignorance I've not seen it. Great column! David Hi Tex,
You and I are the only two people of which I’m aware who will openly admit we got our A$$E$ handed to us by Mr. Market.

At this moment I’ve probably never been more confident of a trade…yet when the signal comes I will only risk 10% or less of my capital. Why? Experience is a costly teacher. It takes a long time to write off a big capital loss at $3K per annual tax return.

My favorite pastime is reading the recommendations these days by people who are trying to make a living telling others how to invest (speculate). If there has every been a greater illustration of mass ignorance I’ve not seen it.

Great column!
David

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