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Larry
You may be wrong about this. There may be some inventive people out there who
can pull it off. An old broker friend of mine claims he puts most of his
trades in his personal account but his big, one-day winners go into his 401k.
He has been able to carry them, unassigned, overnight, and then decide which
account to put them in. One day is a nice edge, especially in today's volatile
markets. He tells me his 401k is up over 100% this year. I didn't ask about
his personal account.
No he was *not* Hillary's broker.
Jim
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In a message dated 12/8/98 6:04:03 PM Pacific Standard Time,
larrywms@xxxxxxxxxxx writes:
There is some misunderstanding among you guy's maybe I can clear up.
First is the persistent idea that a trader can have two accounts, one
gets the winning trades, the other the losers.
There is only one way that can be done.
If a trader has two accounts (I have only one account at each firm where
I trade) you might persuade the broker to hold the account number for an
hour or so and place the winning trades in one account, the losers in
another.
But---and this is important---no broker would do this very often and it
can only be done on trades lasting a less than a few hours.
Since the ultimate profit or loss on overnight trades is not known for a
few days there is no way two accounts could be used. After all, if
trader knew which ones would be winners he or she would not need that
second account.
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