If we apply the "reasonable person test" to these facts, the answer to the basic question of this thread whether Daniel Kertcher is a "scam" is clear: Daniel Kertcher is not a scam. Because if he were a scam, he would have been closed down and sent to jail by ASIC a long time ago.
The gist of all this seems to be that most of you are accusing Daniel Kertcher of misrepresentation. Some of you are just implying it, but some of you have used the actual word.
Now, under Australian Law, misrepresentation is a serious offence, and particularly so in the financial world.
I understand that some of you don't think much of ASIC, but that's all we've got. There is no more powerful authority than that at this time in Australia.
For all its shortcomings (being underfunded and understaffed), ASIC has successfully prosecuted and sent to jail a number of persons. The charges were "obtaining financial advantage by deception" and "misrepresentation" (here is that word again).
I know for a fact that ASIC monitors Daniel and his company very closely. They send officials to his seminars and workshops and are always on the lookout for any breaches that could lead to a suspension of his Australian Financial Services Licence. Since his AFSL has never been pulled, ASIC must be happy with his conduct.
Notwithstanding your comments about "high pressure marketing", nobody is forced to attend his courses. I have spoken to many people who have attended, and not one of them has mentioned that they were there against their will.
Pure Silk has proved that even with the occasional losing month, Daniel's system can still show a very good overall return. The reason that I have never had a losing month is because I am more conservative. Unless a trade ticks all the boxes, I won't even enter it. That is why my returns are lower (at 30 % p.a.) than Pure Silk's, but I can live with that. However, with the additional knowledge I have gained from those books recommended by wayneL, I expect to make higher returns in 2014.
If we apply the "reasonable person test" to these facts, the answer to the basic question of this thread whether Daniel Kertcher is a "scam" is clear: Daniel Kertcher is not a scam. Because if he were a scam, he would have been closed down and sent to jail by ASIC a long time ago.
Both the latest fund and one of its members with verified results have < 1 year track record. Also I can't find any results for Platinum Pursuits Growth Hedge Fund anymore.
Another way to view this is, would you trust a trader working at an IB (let's say they work on the prop desk) with only 6 months experience, with your money?
I know for a fact that ASIC monitors Daniel and his company very closely. They send officials to his seminars and workshops and are always on the lookout for any breaches that could lead to a suspension of his Australian Financial Services Licence.
Since his AFSL has never been pulled, ASIC must be happy with his conduct.
Notwithstanding your comments about "high pressure marketing", nobody is forced to attend his courses. I have spoken to many people who have attended, and not one of them has mentioned that they were there against their will.
So are you implying that no scams exist in general because they are all caught by the authorities?
Both the latest fund and one of its members with verified results have < 1 year track record. Also I can't find any results for Platinum Pursuits Growth Hedge Fund anymore.
Another way to view this is, would you trust a trader working at an IB (let's say they work on the prop desk) with only 6 months experience, with your money?
1/ If ASIC is so underfunded, why do you think hey monitor DK so closely?
2/ How is it that you "know for a fact" that DK is monitored so closely?
Not having the legal justification for pulling his license is not necessarilycongruous with being happy with his conduct, as the "fact" of him being closely monitored indicates.
It would indicated to me they have concerns, as most here do.
lmao obviously not against their will as this would be hostage taking.
alvin 2 simple questions since you have a habit of avoiding..
- who invited you to this forum to share your positive experiences with daniel kertcher & trading pursuits?
- since you are obviously familiar with trading pursuits, is the director of spectrum live also the director of trading pursuits?
i would have thought over the past few years that you would have learnt the pitfalls of the strategy you're trying so desperately to defend...no losing months, downside protection.. how did the current Trading Pursuits' recommended Anadarko Petroleum trade go Alvin? PureSilk?I was invited to this forum by a good friend of mine. She thought I might learn something by coming here, and she was right.
spectrum live charge laughable brokerage and horrible spreads. also, it's more than possible that a director of spectrum live is also a director of trading pursuits...it's a sure thingI am familiar with trading pursuits, but I don't use spectrum live as my broker. It is quite possible that a director of spectrum live is also a director of trading pursuits.
of course it's not unusual. however when you pay THOUSANDS of dollars per person for a education course over a weekend you would think the hosts would be content with this massive revenue (you've outlined in an earlier post how much daniel earns holding weekend seminars). but to then find out that the director of spectrum live is also the director of trading pursuits AND offering appalling spreads on fx etc. to baby boomers that have never traded before..and attendees sign up at each seminarThis is not an unusual situation in Australia. There are thousands of directors in Australia who sit on more than one board, sometimes as many as 5 or 6. Are you not aware that many retired politicians, for instance, often end up as directors on several company boards?
how did the current Trading Pursuits' recommended Anadarko Petroleum trade go Alvin? PureSilk?
Why do I sometimes get the feeling I am talking to 5 year old kindergarten kids?
I am implying no such thing. Scams do still exist, but they are all exposed eventually. If not by ASIC, then by our friends in the media.
The reason there is less than one year's results available is the simple fact that the fund has only been running since April. After 6 months it showed a return at the rate of 15 % p.a.
Daniel Kertcher has a bit more than 6 months experience at the prop desk. He has been trading for about 15 years. One of his chief traders has 30 years experience and used to be Head of Trading in of of Australia's largest banks.
PS - your inbox is full...lol
Daniel Kertcher has a bit more than 6 months experience at the prop desk. He has been trading for about 15 years. One of his chief traders has 30 years experience and used to be Head of Trading in of of Australia's largest banks.
Yes, and let's not forget sitting politicians are required to disclose any interest. Including husbands and wifes for example.
A $100,000 investment in a Platinum Pursuits seminar mid 2007 (minimum was $50k) ended up $5700 by December 2010.
An astounding 94% loss to investors and their families.
BTW, APC was a naked put. I never deal in naked puts, because that really would be picking up pennies in front of a moving steamroller. As you ought to know, I deal mainly with covered calls (a lot safer).
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