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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit
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To: CountofMoneyCristo who started this subject6/29/2001 9:34:28 PM
From: Brandon  Read Replies (2) of 3143
 
This is a rather interesting subject that Olivier has brought up. With the advent of the “Great Bull” many people came into the stock market. Many of them took some large gains from speculative positions and then put some of those gains into the more speculative “daytrading” arena. Still others, convinced by tow truck drivers with Islands, kids with helicopters and stories of overnight riches came into the game with not much and ended up loosing most of that. Ninety-nine percent of those people lost that money of their own accord. They could not hold a stop or treated the stock market as a form of crack that filled a void in their life, maybe both. Because these people lacked the disciple needed to succeed in this field they are no longer with us. These people are accountable for their own actions and should be held as such. No trader ever had a gun put in their mouth and was told they had to trade. Each person sees an alert, and at that moment they must decide do they want to take that position, or would they like to keep the one they already have, cash.
However, personal accountability is a two way street, and, anyone who moderates a forum with the claim that they educate traders has an obligation to do exactly that. To educate the trader to the best of their ability to be successful in the stock market with regard only for what is in the client’s best interest. If side deals are made that are in direct conflict with the obligations to clients, then a wrong has been done. Personal accountability works both ways.

Brandon Fredrickson
Probable employee, Ministry of Propaganda.
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