The plot thickens, just like Mike Baghdady good old Raj has another name, Raj Shastri.
Contact Raj | rajshastri.com
The plot thickens, just like Mike Baghdady good old Raj has another name, Raj Shastri.
Contact Raj | rajshastri.com
random12345
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Aye.
If there's a loss to the exchequer or a concealed theft of investor money then he's in deep.
Otherwise... meh.
it is an issue to a certain extent.
Always exceptions to the rule but good traders are normally pretty humble people which is basically why they're good to begin with. Flashy traders however, the ones that want you to know that they're good (or at least believe) and make lots of cash (again, who says they do?) etc normally come and go with the regularity of the seasons.
Or put it another way, if you ever give money to manage to somebody that's flashy, don't count on a steady flow of dividends and do consult your tax acountant about the advantages of tax losses.
Conversly, if you give money to a manager that's low key, quietly spoken and above all humble in his work, consider allocating more money alongside being pretty confident in the futre stream of profits.
Like I said at the beginning, always exceptions to the rule, but not that many...
Here you go, I'm sure he'll like the company. If you smuggle him in some P*rn and snout I reckon they will be no charge for his time -
Wormwood Scrubs prison visiting information
Purple Brain
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The article mentions £5m. But it's not necessarily 'taken'. They've apparently been charged with not having a license to trade other people's money, not with stealing it. It is possible that their investors have had their money (some, all or perhaps even more than they initially invested) back, though I have no idea if funds involved in cases such as this are sequestered pending trial.
I wouldn't throw the baby out with the bath water. For the short time I followed him on twitter he seemed intelligent, generous and nowhere near as self-important as his own publicity suggests. That he fell foul of regulations is a pity, but that doesn't necessarily indicate lack of trading skill or malicious intent.
A charge of fraud has been reported, not merely acting without being FSA registered.
random12345
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It's frustrating the way this is being reported as I still can't find any language to define the fraud as anything but misleading investors regarding the regulated nature of his activities. If that is the case, it IS technically fraud, but hardly a major charge and I'd be surprised if he did time at the end of the day. It sounds like they have frozen sums almost equivalent to the original investments to boot.
Fraud is too broadly defined to be of use as a measure of his crime.
c6ackp
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One of the articles states that bank accounts containing 3mill have been frozen. Since they took in 6mill, that may imply some kind of shortfall, but that can't be corroborated at present.
I think he does demonstrate some highly developed prediction skills when he answers in one interview...
Q: In an ideal world where do you see yourself in 5 years?
AH: That's quite a scary thought!
I think he does demonstrate some highly developed prediction skills when he answers in one interview...
Q: In an ideal world where do you see yourself in 5 years?
AH: That's quite a scary thought!
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My bet is he wasn't as good as he thought he was, and certainly wasn't as good as he made the gullible feel. So with no money coming in and no doubt expensive bills to pay, guess who dipped their fingers into the cookie jar?
So for everyone that was chearing him, who were impressed with his purile publicity stunt I've got a question for you -
If his 'method' was so good, and there's much to learn from him, where's the profit stream? Trading like football is a game of results and everything else is a sideshow.
The answer is this, he was just another crapshooter, hence no profit stream, hence no proper trading method/strategy, hence nothing to learn.
He also made the fatal mistake that's so easy to make (I made it myself) in that he never realised it's not him trading the market, it's him trading other traders, in the markets case, veterans who've spent YEARS learning and perfecting their craft. As trading is a zero sum game (slightly less actually due to costs) there's only a finite amount of profit to go around, so your/mine profits are at the expense of somebody else's. This is why, like most things in life, beginners (unless brilliant) find it so tough to make REGULAR money because they're uyp against the veterans who've paid their dues, have gone through all the pain and therefore generally as a group end up with the lions share of the available profit.
What he should have done, as most should do, is first realise who they're up against, then say 'hmmm, common sense says I'm not going to be able to beat these guys without some serious work/practice, probably years, so let me get my head down, quietly learn my craft, and after a numnber of years I'll have a chance of COMPETING....
Now, if the above upsets you, don't worry because as sure as the Sun rises in the East there will be another snakeoil salesmen to take his place only too willing to tell you want you want to hear - Trading isn't hard, just take my weekend's course where I'll reveal the secret secrets the pros don't want you to know, and in a few months you'll be making 5% or more a week - To start creating that work-from-home second imcome all you need is a credit card
So for everyone that was chearing him, who were impressed with his purile publicity stunt I've got a question for you -
If his 'method' was so good, and there's much to learn from him, where's the profit stream? Trading like football is a game of results and everything else is a sideshow.
The answer is this, he was just another crapshooter, hence no profit stream, hence no proper trading method/strategy, hence nothing to learn.
He also made the fatal mistake that's so easy to make (I made it myself) in that he never realised it's not him trading the market, it's him trading other traders, in the markets case, veterans who've spent YEARS learning and perfecting their craft. As trading is a zero sum game (slightly less actually due to costs) there's only a finite amount of profit to go around, so your/mine profits are at the expense of somebody else's. This is why, like most things in life, beginners (unless brilliant) find it so tough to make REGULAR money because they're uyp against the veterans who've paid their dues, have gone through all the pain and therefore generally as a group end up with the lions share of the available profit.
What he should have done, as most should do, is first realise who they're up against, then say 'hmmm, common sense says I'm not going to be able to beat these guys without some serious work/practice, probably years, so let me get my head down, quietly learn my craft, and after a numnber of years I'll have a chance of COMPETING....
Now, if the above upsets you, don't worry because as sure as the Sun rises in the East there will be another snakeoil salesmen to take his place only too willing to tell you want you want to hear - Trading isn't hard, just take my weekend's course where I'll reveal the secret secrets the pros don't want you to know, and in a few months you'll be making 5% or more a week - To start creating that work-from-home second imcome all you need is a credit card
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scose-no-doubt
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He was running a ponzi and living the high life off the cream innit. What's this thread about?
perox
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