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

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To: Don Pueblo who wrote (125)10/29/2004 2:14:32 AM
From: Bill Ulrich  Read Replies (1) of 377
 
The Early Days "...and it wasn't long, maybe late 1998, till he approached me about teaching me to daytrade. much of his basic advice was sound, and when he proposed that he trade my $10K and split the profits 50-50, it seemed like a great idea. he began losing money immediately, said that since he wasn't making a profit, he needed money to pay that month's rent and asked for $1000, which we sent."

About the same time that the above person was approached, I was approached with the first instance of "The Partner Blew Up My Account, So I Fired Him"

In Dec. 98, TLC wanted $3K from me to get him back into daytrading, what he does best. Which, obviously from above, "best" is perhaps not the best adjective. I thought the amount rather low, so maybe the facts weren't exactly as presented. Still, I kicked in $1K just to be a nice guy.

Question: who blew up the account?

I was told a second time, about three months later that "The Partner Blew Up The Account", not knowing about above poster, upon whose experience, TLC actually blew up the account.
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