It didn’t make sense to me. At 10 years old, I realized that if I…
You’d probably think that brokers are out there to help people take control of their financial future…
While a majority of them are there to help and answer questions, as well as manage people’s money…
There are some greedy ones that slip through the cracks and will do what’s best for themselves.
Take this Tennessee-based securities broker for example.
He was in charge of managing people’s money…
Two of them were seniors…including a World War II veteran.
Instead of helping these seniors and their families, this broker — Frederick Stow — allegedly was in it for their own gain.
According to the SEC, this broker acted as the veteran’s registered representative for more than 30 years.
During that time, he may have gained their trust and placed himself in a position of trust.
The complaint alleges that the broker started to make unauthorized sales of securities from the veteran’s individual retirement account.
According to the SEC, the broker allegedly transferred the proceeds of the sales to his own bank account…
A whopping 74 times.
Guess what?
Allegedly, he crafted up wire transfer forms…
And one month after the veteran’s death in March 2019, the broker wired money from the senior’s brokerage account to his own, without authorization.
The grand total of his scheme: $933,500.
When it comes to brokers and financial advisors, I believe it’s important to conduct due diligence and be wary of them.
While most of them can be good, there are bad apples out there.
That’s one of the reasons why I’ve made it my goal to teach people how to trade.
One of my favorite strategies to teach people is Dollar Ace.
Why?
Well, to be honest with you, there are so many trade ideas for me to take advantage of…
And it levels the playing field, in my opinion.
I mean take a look at this recent trade I saw hit my scanner…
165 PLNT Jul $60 Puts
They Paid $3.67 (Above the Ask)
For A Total of $61K In Premium
When the stock trading at $62.67.
Source: LiveVol
By the end of the day on Friday, they were worth about $4.20 a pop…
Representing a modest gain after placing the trade just a few hours before.
If you don’t know, coronavirus cases are ticking up…
And some states may have to start rolling back their re-opening plans.
Do they know something we don’t?
Only time will tell.
If stay-at-home rules sweep the country again…
I believe companies like Planet Fitness can suffer.
The “smart money” leaves clues around…
By if you understand how the smart money moves…
You can generate countless trading ideas each week, in my opinion.
If this sounds unfamiliar to you, don’t worry…
I’ve developed a special training workshop to show you how these players move…
