karen the supertraders winning strategy relied on fraud, sec alleges self-taught options trader karen bruton earned so much so quickly that some.
Karen the supertrader has tried to keep a low profile over the last several years.
Karen the supertrader fraud article here is the link httpswww. We are not happy it happened to karen the supertrader who we followed for years.
Shes smart and has an accounting background, but thats like amateur-level fraud. At least put some risk into it or make it look more like her regular strategies or something. Not literally a spreadsheet that says we lost x so make this trade so we can say we made y and collect y20 in fees.
the sec is now on karen brutons case because of her shady fee structures. They claim shes perpetually rolled losses through scheme trades since november of 2014. By taking an incentive fee each month despite her failure to make new nav highs, she violated both her agreements and allegedly defrauded her investors.
so now karen had sold many puts at low vol in an up market, and they suddenly generated significant paper losses. In retrospect, its clear that karen did not have adequate risk management in place and you are spot on regarding her not stress testing her position with a vol increase in analyze tab.
Why karen the supertrader lost money why karen the supertraders fund lost money year after year after creating years of buzz through advertising by tastytrade that karen burton was profiting millions from short strangles, the sec stated, karen the supertraders winning strategy relied on fraud.
Yes i have watched her on tasty trades sometime ago and exactly wanted to know her concept of trading. I have also read the sec complaint its more about how she planned on showing and structured trading losses for her clients so that she cou.
My guess is its the equivalent to putting a 1tick profit with a 99tick stop loss on say s&p futures. Itll probably work 99 of the time, but the one time you lose you give it all back. My guess is thats what happened (probability more than once in october 2014, august 2015, and jan 2016).
karen the supertrader has been featured on tasty trade twice (both sessions are available on youtube). She turned 100k of her own money into 800k or so and then started raising money from others and now trades two or three funds that have amassed 105m in trading profits all from selling naked strangles.
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