Sunday, September 16, 2012

I have come to doubt the veracity...

Several years ago I was a subscriber to a website that discussed stocks, options, and the markets. While I was a member, I contributed blog posts summarizing some of the strategies the site owner described for trading. Those blog posts were published under the header "The K1 Project".

I stopped being a member on September 9, 2008. That was the day that a "stock club" containing money from some of the site's subscribers was wiped out by a margin call. Before leaving, I added a caveat to the top of the landing page for the stuff I had put together, stating that I did not believe the site owner's published trading performance was real. I used the word "veracity" in my parting shot, as well as a bunch of other pompous $5 words.

Once or twice each year I receive an email, asking me what I meant by my statement, which by now must seem like ancient Greek chiseled onto the frieze of a ruin somewhere. I try to be polite and honest about what I remember, without disparaging the site owner. The email messages are invariably anonymous gmail accounts, unverifiable, and (so far) the senders don't engage beyond their initial question.

A part of the reason for this blog is to provide a place that Google can find for any current members of the site who stumble across that caveat and wonder what it means, and for the small random chance that any of the former members decide they want to reach out. I keep the comments on this blog moderated to be certain that nobody accidentally mentions the name of the site or the site owner, and I don't intend to discuss the matter any further.

But as for you, wayward googler, if you were a fellow member, or lost money in the stock club, reach out and say hi.

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