Bear in an Evil mood

Bear trader Simon Cawkwell - the self-styled Evil Knievil who claims to have made 1m last year in the falling market - was kicked out of the Institute of Chartered Accountants on Tuesday. He admitted the sins of managing investments and giving clients unauthorised advice.

"I've had a good lunch, so you've caught me in a good mood," he tells me, before explaining that "when I pleaded guilty I lied".

He claims not to know "to this day" what the charges related to - only that he was alleged to have breached the Financial Services Act 1986. "No client involved in the affair lost any money," he insists. "If anything they gained money. The whole thing is a fabrication from beginning to end."

The ICA won't comment, but Evil claims he pleaded guilty to "get this off my back" and avoid spending up to 100,000 defending the case. Instead it's cost him 35,000 in costs and fines. "I resent the 35,000 stolen from me by the ICA," he growls. Glad I caught him in a good mood.

Keith

How is your case against ADVFN going ?

LOL!!

The point here is that Simon paid out 35k instead of 100K, he knows whether he is guilty or not, and probably doesn't care what others think.
It's all about money management.
100K OR 30K?
Answers on a postcard.

How jealous of shorters is ainsoph ??

He really has a chip on his shoulders about them yet he claims
to short my shares from time to time.

I lose count with all these lies :-))

Gravy

Insider Trader

I could understand your point in many instances but not in this one .... but for someone with so much mouth I would have thought his reputation was worth more than that .... and presumably - if found innnocent the Institute would have paid his costs.


ains MCIM

ainsoph

He might well be a bit guilty then (only he knows for sure), so he then took a 30k loss instead of 100K, which I would call good money management, limit your losses and let your profits run. I would say he used a stop-loss!

;o)

I go along with your thing there ....


ains

IAIN

MICE
MIMechE
MIMinE
MIMuEng
MIWEM

the above are pure boasting on my part , the one I seldom mention but am a member of is MCIM which was recently given Chartered status, however prior to the Charter it was given away to any manager , even if only managing cleaning out the municipal bogs, which is where I guess KDC got hers.

ROTFLMAO @ the Lettered Layperson.

ROFLMAO !

Evening Ugly

Morning Jeff

There is not only the money which has to be taken into account but also the time and when your a winning trader such as Evil a protracted legal case could be doubly expensive when taking into account the time spent on the legalities which would have been better spent on trading.

It would not be at all disadvantageous of course if your trades constantly lost money.....which brings us back to the poster who started this thread in the first place.


TWT action group needs more support and of course will save you money in the time spent away from trading

Of course we seem to be ignoring the more obvious conclusion .... he is actually guilty and it's that simple.

Quite what TWT has to do with it - god only knows.

Indeed.

Well I agree with Goodfella re - to Evil on this occasion and I can tell you thats very scarce. Its not only the money hes losing on trading but also the money hes losing on his Gambling on Sports bets that have also to be taken into consideration.

Im also a member of this accountancy body, or should I say Trade Union with its restrictive practices. I suggest anybody who wants the full story should either join or get in touch with a member of T1ps .com where you get the full story and then decide wether he is guilty or not.

And before anybody says it, sorry no I will not divulge the content from that site. Copyright infringement is a unlawfull act.

I would also add that I am not a great fan of Evils trading style, but you have to remember that fighting/appealing against this kind of judgement is a long drawn out process and can often cause the individual a lot of stress and stress to his or hers family.

Like Goodfella I beleive he came up with the right decision.G. aka OLWT.

Am a subscriber to T1ps.com and read his articles. In the last 2 weeks he has lost 500,000 on shares and 50,000 on the horses. I wonder if he has ever heard of stop losses. Still, he has had a go and admits his failings.

MMM, he losing 1,475,000 in total for the year on the stock market. Thats going to take some getting back.

Mind you I still like the man.G