"...NFA fines Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 ).
This constituted deceptive and unbalanced promotional material and disclosure statements.
I think that its very much related..
Details in William Gallacher's book Winner Take All.
Footnote -- In July 1988, the Larry Williams Financial Strategy Fund was launched, followed in March 1989 by the World Cup Championship Fund, managed by Larry Williams, Jake Bernstein and two others.
The 1988 fund lost more than 50% of its clients' equity in barely one year, as reported in the October 1989 issue of Futures magazine.
The 1989 fund also lost more than half of its original equity by May 1990. ..."
Jake the snake is Larry's buddy and permanently banned from the NFA.
i luv larry and jake, the 50% off bro's...........
Piper said:Just to put things in perspective, in case u missed this back in the days..
rod178 said:I'd be surprised if all were not already aware of Larry's 'enigmatic' past. Nevertheless he did release some interesting teaching in the early days. His daughter was reasonably cute, although a better actor than trader, despite having Larry as a mentor.
InnerCircleTrader said:Mentors are good but do not refrain from thinking outside their boundaries... myself included.
AusDoc said:That vid was posted above already Michael. Maybe you meant to put up these, the ones from your Tweets.
The Four Most Important Things I've Learned in 50 Years of Trading - Larry Williams
Trade Like a Pro with Larry Williams - 2/25/2014
But this is the important point from your post IMO.
Rod is right about Larry I think. He may have had something to offer in the early days but now he is basically a salesman and entertainer.
I wanted to highlight the notion just because our Mentors don't subscribe to a particular view that doesn't mean we as Traders can't still find wicked success in that very thing.