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Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Hi Mike,
Good question. I've always kept my accounts funded enough to do business with regards to the size I want to trade and the risk being assumed. I take out all my profits at the end of each month and start clean each month. This accomplishes several things. One, I'm able to take out my profits and reinvest them in passive investments. Two, I'm controlling my exposure in what could be compared to having money in the bank back during the wild west. You just don't know what's going to happen and only keep enough in there for my day-to-day operations. When I'm trading poorly, I reduce size to keep within the account's risk exposure. I also work with multiple brokers in the event something like the MFG or PFG event. I had an account with MFG a few years ago but pulled it around the time when Corzine came in and luckily didn't have anything with PFG.
If Jr on the 6th thinks things are suddenly looking better, do you think that Sr was lying to him? But that still leaves the whole shotgun wedding (presumably to protect assets) with a bad taste, I mean why the shotgun wedding, and the rush'd POA, if things were peachy?
But why would Jr send an email telling everyone things are peachy and they are getting their salary cuts back, hurray, if things were not good... I mean it would just be implied that the prior cuts would remain in effect, no email was necessary...
Thx. I think we are on same page, which is basically - no change. I don't have huge accounts so it wouldn't be the end of the world if one of them were lost to fraud, or held up in court for a year.
Yeah, I really feel bad for the guys that were with MFG then got pushed to PFG as an "approved" firm... I mean, holy crap...
The difference is that yes they do post their audited financials and they do show where your money is....
RCG auditor ....
McGladrey & Pullen operates in an alternative practice structure with RSM McGladrey. Though separate and independent legal entities, they work together to serve their clients. Together, the two companies are ranked as the fifth-largest U.S. accounting firm by revenue (the largest non-Big Four entity) and have approximately 7,100 employees in 88 offices.
PFG Auditor
Veraja-Snelling & Co is located on a busy, four-lane street inside a modest house, that is a faded-pink color, in Glendale Heights, some 30 minutes outside of Chicago.
Jeannie Veraja-Snelling has been certified in the state of Illinois since 1999.
However, she does not list having any public company clients in her 2011 annual filing with the PCAOB.
On Tuesday night, she came to the door wearing a green sleeveless shirt and blue denim shorts. A stack of cardboard filing boxes was sitting just inside the door.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
I can't believe that Jr. was not involved. The whole family had invested heavily in energy projects in Iowa, and with the economy and such, the whole thing must have gone busted.
The entire Board must have been into this.
The memo on July 6 leaves no time for anyone to react considering the Monday's event. IMO, the e-mail was an informal way to thank everyone and say goodbye, and the then a fake suicide to get police protection.
my partner did received the letter, but not much assurance. RCG was audited by McGladrey & Pullen and McGladrey appeared to be involved before with other ponzi's scandal and the failure to audit . Difficult to trust anyone nowadays. Bank Balance must be electronically verified, thats the key to this fiasco.