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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Bill/WA who wrote (123363)	6/30/2010 7:34:50 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

1. Big bucks, so they can qualify as "sophisticated." 2. Provable experience trading options in the past. 3. No record of arbitrations or lawsuits against brokerage firms or anyone else. Even with all that, they might not approve it. Part of it depends on the firm. Morgan Stanley said, if I worked for them, they wouldn't allow me to sell closed end funds to clients. I asked, "what about closed end funds managed by Morgan Stanley?" The manager said he would seek legal advice. <G> When I mentioned the word "Options," the interview was over. Smith Barney was more open as long as I did all such trades myself. They felt my experience, having managed the largest and most successful option mutual fund in the country (in its day) may qualify me as an expert. To be fair, that impressed them less than when they contacted my old firm and mentioned that I provided expert testimony to the DOJ from time to time. <G> The less deep the pockets of the firm, the more latitude they are likely to allow. That is full service brokers. With discounters, all you need is the experience.