File 033097
Email Regarding Trading Losses and Investment Management Criticism (File 033097)
Email from Jeffrey E. to Paul Barrett dated July 13, 2018, critically assessing Paul Barrett's trading performance and investment decisions, expressing disappointment over losses incurred through poor options trading strategy and lack of market discipline.
Summary
Jeffrey E. sends a critical email to Paul Barrett regarding failed trading decisions and significant investment losses. The email details specific trading mistakes including poor timing on SPY options trades, inadequate analysis of market conditions, and lack of disciplined strategy. Jeffrey expresses frustration over Barrett's failure to deliver on promises to manage money effectively, noting losses on Broadcom trades as well. The sender suggests they need to develop a solution but indicates willingness to continue working together.
From: jeffrey E. [jeeyacation@gmail.com]Sent: 7/13/2018 11:11:16 AMTo: Paul BarrettImportance: High• Richard KahnIm not angry, sorry, it is sad. it is apparent that you have no experience trading. we both made amistake. . the spy trades were the results of a rank amatuer. . you took a postion on the direction of themarket. ok. you decided to play it extra short time and short. . why? becaue the options are cheaper.? knowing full well that time premium was running. . first silly move. . I allowed as promised to give youauthority. . you set a target. . it hit the traget, you moved in back. based on media reporting on trumpvisit? you didnt act. the market dipped and you panicked. . AMATEUR. wrong options wrong timing,no discipline and as a percentaage of investment, a one day dip fof 25%. wanting to buy the highter strike , isok. but why the same month? why the same moment. why the same index. . sorry. I have taught this formany years. and your grade is an F. not one good move in many. . re broadcom. the crack happend inthe morning, options were higher. no alternative presented. no analysis. , this is no way to managemoney. I have lost a great deal of money hoping you would be able to do as you promised you could . would.. Had you told me, jeffrey I d like to try a new job as a manager lets start slow I can learn. i would beless annoyed. you told me you had great confidence knew the risks and truly believed you would be able toraise money .do well and prosper. . If it were not you, this would have ended months ago. . we shouldwork on a solution. not sure yet what shape it takes.please noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 033097