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A deal just blew up before my eyes and I could not stop it...

slat1 said:
I closed down my second company due to a retard in the compliance department of the company that hosted me.
I was trading for a hedge fund in a wrap account.
My average hold was 26 days.
She accused me of short term trading.
I asked her how she determined what was "short"
She said it was what the NASD termed it to be.
Well, I blew up and sent her an email showing the board of directors of the NASD were considering calling any trades under FIVE days a short term trade.
We went back and forth and I continually pointed out everything that she said that was wrong.
She even told me I had no right to charge 150 basis points on the account.
Apparently, they had never had 10 million in a wrap account before.
Well, being the douche I was back then I exposed her as and idiot to the whole company.
She got the last laugh. She was the owners daughter and they decided they didn't want my business anymore.
So I was out about $7k a month and I was only working a half hour a day for it.
Definately a moment I look back on and regret!


Sounds like you haven't read "How To Win Friends and Influence People" lol. That sucks though.
 
yonkers weights said:
Good Book.
Young Guns wrote it, right? The day after he got banned!


Who's Young Guns and why did he get banned?
 
You don't know Young Guns? YOU MUST BE JOKING! Your not new? WTF??? Do a search! He is the man among no men. Search for his personal video's that he posted on you tube. CLASSIC
 
I've heard about him before but never what he was about or why he was banned.
 
hanselthecaretaker said:
Sounds like you haven't read "How To Win Friends and Influence People" lol. That sucks though.

I thought I was invincible and the business would last forever!
LOL at me!
At one point I was looking at relocating to the Canary Islands if they got me up to $50 million under asset.
My how things change.
I was on the verge of being filthy rich only to lose it all and be a broke ass bitch! :worried:
 
yonkers weights said:
Yea, must stay within our company. I don't do mortgage's. Business Line of Credit. $17 million. Guy is bitching about the A/R and the President's Debt/Income Ratio.
I know, keep pounding it out. We might just loose the deposits for this company though.... That's where I make my real money.
Might send an Appeal Form in to the head underwriter to save it.

I know you don't do mortgages, but very similar pricipals apply.
That does suck though that qualifying them for a line of credit can affect your deposits w/ them as well.

i got completely owned at work today too. i been losing everything solid i've had
 
calveless wonder said:
I know you don't do mortgages, but very similar pricipals apply.
That does suck though that qualifying them for a line of credit can affect your deposits w/ them as well.

i got completely owned at work today too. i been losing everything solid i've had


That sucks dude. What's the problem(s)?
 
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