The Perils and Pitfalls of Investing With "Friends" Message Board

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Pastimes : The Perils and Pitfalls of Investing With "Friends"

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To: Intrepid1 who wrote (39)	10/26/2004 11:35:03 AM
From: Bill Ulrich	Read Replies (1) of 377

Webnode? No, what was explained up front is that a). like any lawsuit it was highly probable that nothing could be recovered, other than it was tax-deductible. b). If we got anything out of it, i.e. via settlement or judgment your money would be returned. Our bill from Methven was $67K. We received $27K. The insurance company to which you refer covered the other $40K. It was Jeff Mitchell's insurance company and he should have the details. I can't speak for him or his insurance company, obviously, but I'm sure you can contact him. He's on SI everyday. Throwing into a lawsuit is considerably different than "becoming a daytrading partner" or investing in a chat site, and should be obviously clear just on its face. It was a one-time thing where the near-zero probability of success was acknowledged and immediately clear. If you'd like a hand-written receipt, PM me your address and I'll have one delivered to you immediately. Since that was 5 years ago, did you deduct from your '99 taxes using the cancelled check? That will certainly suffice for officials. Still, I'm happy to hand-write a receipt. Let me know at your earliest convenience. "care to explain bill?"

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