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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit
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To: Jorj X Mckie who wrote (1567)7/11/2003 2:32:34 PM
From: CountofMoneyCristo  Read Replies (1) of 3143
 
I'm still having a problem with losing $10M. Were you using protective stops?

Here's an example: let's say you are advised to purchase a stock at $50. You take 1,000 shares. It goes against you 1 and then the adviser recommends getting out. That's a loss of $1,000 on a single trade. Add commissions and we near $1,100.

Now multiply the above by 10,000.

Then multiply similar losses by a multitude of other clients.

The add on top of that standard - could easily go higher - triple punitive or exemplary damages.

Comprende?
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