Financial advice for young and wealthy

[The Don]

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Thanks, I will talk to my firms legal dept. I had thought about that, which is why I wanted to structure it as more of a finance class, than an investment advice forum.

I really appreciate the heads up though.

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No matter how you classify this (class, newsletter, etc.) you are still potentially subject to SEC/NASD regulations. Without a doubt, I would be. Frankly, I don't know why you would (subject to regulations) be if you're an analyst. And I assume you're a buy-side analyst at that. Do you give advice to any individuals at all? Because you have $1MM minimums, your clients don't fall into most of the general regulatory categories, and are considered an accredited investor. That being said, I'm really not sure what credentials you need.

I think it would be a help if you could provide your employment background. If you're uncomfortable with this, you could PM me, and I'll give my own opinion. It's an internet forum, so it's wise for all of us to be careful.

Scuba

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Blah... I don't care if some random bureaucrats designate someone as "accredited". I put no weight at all on government regulations. Protecting people from themselves is quite absurd and it really hurts those with true talent and intelligence. I am free to take this guy's advice if I feel it is useful (although I always prefer making my own decisions).

[Scuba Chuck]

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I am free to take this guy's advice if I feel it is useful

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This is very true. But if it were from me, because of my licenses, you could also sue me. Thus, I am very particular to whom I give advice to.

[Insty]

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This is very true. But if it were from me, because of my licenses, you could also sue me. Thus, I am very particular to whom I give advice to.

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Would suing you have a better ROI than acting any advice you might give?

What grounds does someone need? How does it work?
Do they have to invest all their money and then lose it and sue you and you have to pay it back or what?

Why would anyone BE a financial adviser if you are not actaully allowed to tell anyone anything?

It all seems very odd to me.

I really believe this would be a really good addition to a general forum area or something. Most poker players do not understand the importance of manageing their money allthough they are able to manage it well on the table. The 2 are equally important and I for one think it would be a great addition to the forum. Maybe something moderators might could take attention to?

[rvg72]

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if only i knew how to manage my money.. sigh. holla

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I'll take a shot at financial advise for Raptor.

Lesson 1: stop lighting $100 bills on fire.

rvg

[pergesu]

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I don't care if some random bureaucrats designate someone as "accredited".

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I don't know much about this stuff, but I don't think being an accredited investor has anything to do with what you're talking about. There are certain qualifications you have to meet, and if you do, you're able to get in on a bunch of high risk investments, but also very lucrative ones such as buying large amounts of stock in a company before an IPO. Something like that. I think. I'm sure Scuba can explain it all if anyone cares.

[Khern]

Seems to me that Financial advice is not poker, much less STT poker.

Maybe i'm wrong. Either way, I wasn't trying to debate non-appropriate material here.

John

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Ok, even I am sick of this thread. Anyone with questions can PM me.

As for being 'accredited'.

The government needs to regulate who can buy/sell financial instruments. This is done to protect the consumer from all kinds of crooks, etc. Yes, this puts a burden on financial professionals, but no more so than other professionals, ie Drs, lawyers, etc.

For the past 5 years I have been in research, so I have not needed to be 'liscensed'. This is required for anyone who sells products, or the like. This has absolutely nothing to do with my knowledge or skill level. I just have never needed them.

Scuba Chuck was looking out for my interests, bringing various regulatory matters to my attention. I have researched the issue, and do not think it is a problem. Since I do not sell financial instruments I am free to give general financial advice.

So, lets leave the forum to STT, and move on. I only posted here b/c this is where I am currently playing (would need advice on).

So any more questions, PM me.


back to your regularly scheduled forum

[MegaBet]

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great idea man, pm sent, thank you

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He said the young and the wealthy...not the luckbox-y [img]/images/graemlins/grin.gif[/img] j/k

[pergesu]

Whoa I'm not making an attack on you or saying that you don't have credentials. I was just briefly explaining what I remember what an "accredited investor" is. Which is something entirely different from you being licensed and everything. From what I remember, it's basically just being rich enough to make ridiculous investments.

I really appreciate what you're doing here, and that post had nothing to do with you, much less be a criticism.