Wednesday, September 12, 2007

Joseph Jett @ Kidder Peabody...........

Mr. Jett was kidding nobody........he was bogus from the get-go. This long drawn out ordeal started in 1994 when Jett was canned from Kidder when the millions of trading losses he had concealed when trading government bonds came to light.

For a guy who is to be barred from the brokerage industry it is ironic the following hype about him appears on his web site.

"The business of this nation is business, and business is best understood as a proxy for war. In the capital markets, we see the raw beauty and danger of our capitalist system. To succeed here, one must be adept at the art of war. For the capital markets are sublime; they beg no quarter and they give none. The markets care not about a person's race, color, sex or creed. Here all are equal until discipline, intelligence, and experience discriminate winner from loser.

Few in fund management have the experience of our team, trading a $37 billion portfolio and heading a 43 man trading desk. Our unmatched experience allows us to follow a highly technical trading strategy in which short positions are as common as long positions in our portfolio. The investment strategy utilizes fundamental analysis, technical analysis, and risk management in seeking superior returns."

Jett only has to return $8.2 million, pay a $200,000 fine and be barred from the brokerage industry. Still kidding nobody.

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