Day trader awarded £20m compensation.....this doesn't make sense

This is a discussion on Day trader awarded £20m compensation.....this doesn't make sense within the The Foyer forums, part of the Off the Grid category; Rajesh Gill, ‘7 to 7’ day trader, awarded £20m for City fraud - Times Online If he's such a hot ...

Reply
 
LinkBack Thread Tools Search this Thread
Old May 7, 2009, 8:24am   #1
 
foredog's Avatar
Joined Oct 2007
Day trader awarded £20m compensation.....this doesn't make sense

Rajesh Gill, ‘7 to 7’ day trader, awarded £20m for City fraud - Times Online

If he's such a hot day trader than turned £7k to £7m in 2 years why does he have MF Global managing his account for him?

If he's that hot a trader why's he letting somone else provide him with average returns?
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Old May 7, 2009, 8:31am   #2
Joined Feb 2008
fishier than an cod's armpit this one methinks.
gooseman is offline   Reply With Quote
Old May 7, 2009, 8:38am   #3
Joined Jul 2003
Quote:
Originally Posted by foredog View Post
If he's such a hot day trader than turned £7k to £7m in 2 years why does he have MF Global managing his account for him?

If he's that hot a trader why's he letting somone else provide him with average returns?
It’s a little easier to trade £7K with stunning returns than it is £7M. And while £7M is hardly a King’s Ransom, he may have preferred the 20% on £7M to 1000% on £7K.
TheBramble is offline   Reply With Quote
Thanks! The following members like this post: Lord Flasheart
Old May 7, 2009, 8:48am   #4
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Just think if he'd been trading for that long he might have taken an interest in what MF were doing, maybe the odd statement of account showing what he's invested in etc.
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Old May 7, 2009, 9:34am   #5
Joined Jun 2008
Quote:
Originally Posted by foredog View Post
Rajesh Gill, ‘7 to 7’ day trader, awarded £20m for City fraud - Times Online

If he's such a hot day trader than turned £7k to £7m in 2 years why does he have MF Global managing his account for him?

If he's that hot a trader why's he letting somone else provide him with average returns?
Why don't you ask him...he is a member of this forum!
SSINGH is offline   Reply With Quote
Old May 7, 2009, 9:36am   #6
Joined Sep 2004
Is he? what's his nick?
__________________
"That which doesn't kill me makes me stronger"
GammaJammer is offline   Reply With Quote
Old May 7, 2009, 9:36am   #7
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Give him a few days, probably sleeping off all the champagne!!!
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Old May 7, 2009, 10:46am   #8
 
donaldduke's Avatar
Joined Jan 2004
Quote:
Originally Posted by foredog View Post
If he's that hot a trader why's he letting somone else provide him with average returns?
From the article it seems he made it during the dot com boom.
And then transferred his account to MF Global after the crash.
Very good timing.

Ok, i can understand not wanting account statements if you are travelling or for privacy.
But im suprised they didnt have an internet site for him to view his account information though??
donaldduke is offline   Reply With Quote
Old May 7, 2009, 10:50am   #9
 
arabianights's Avatar
Joined Jan 2007
Quote:
Originally Posted by SSINGH View Post
Why don't you ask him...he is a member of this forum!
He probably can't discuss it if the legal case is still on going.

Of course he's welcome to PM nosy people like me (in confidence, and I have no connection with anyone involved with this case... hint hint) with what has been going on
__________________
World's leading STIRs chatroom - www.propboards.com - register, then click on chat. Don't let the lack of posts on the forum put you off - the action happens in the chatroom. Targeted at locals, but hedge funds, brokers (including IDBs), market makers, and a few sizable amateurs are all represented. When it's quiet, banter is encouraged and anything goes.

No nuisance spread betters please. Anyone else welcome.
arabianights is offline   Reply With Quote
Old May 7, 2009, 11:02am   #10
Joined Jun 2007
Doesn't make sense at all.

If i have bought into something and i check the market daily, i can see how my selections are performing, whether I am up or down. Even more careful with that kind of money at stake.

Him and the broker are probably on a beach in the Bahamas laughing all the way.
Citizen2007 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
how to make sense of 'latest trades' info jonboy123 First Steps 46 Apr 29, 2009 9:11pm
Can anyone make any sense of IB's statements? Sparky2004 Home Trader 8 Oct 21, 2007 3:05pm
Best Option Broker - IB awarded Bronze?? DAV Futures & Options 3 Mar 1, 2006 10:47pm
Why the retail shops make sense Torch Forex 6 Nov 16, 2004 1:58pm
Bad advice that seems to make sense. sidinuk First Steps 7 Oct 6, 2003 11:58pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)