Monday, March 16, 2009

49 ex-freely students scored a legal victory

Dear fellow traders :

The Staits Times article is here.

4 comments:

Covered Call said...

are you one of them?

Anonymous said...

Congrats to them and serve Conman Chiang right.. It's not his methods but the way he schemed and fleeced his students that galls me..
Disclaimer: I was one of the gullible he had fleeced but wasn't part of the compensated..

Tony Chai said...

Hi :

The earnings gapping analysis method, to me, it's not easy for the "layman" to earn money from it in the long run. Too many guessing, too many 50/50 element, ignoring the volatility crush etc.

To me, other methods like trend trading, shorting the iron condor are much safer options trading methods compared to earnings gapping analysis method coz you could at least use a stop loss to reduce your losses.

With earnings gapping, your premium would be fully wiped out once you "guess" the direction wrongly after earnings announcement.

I don't think I would be able to submit a claim since I'm from the Nov 2004 batch.

I've talked to one of the graduate who successfully got back her refund. She took her course sometime in May 2008, ie. it's within the 1 year that they discovered that Clemen's PHD was not from an accredited university, as reported in an article sometime in Aug 08.

Regards,

Tony Chai

nightfalc said...

I hereby acknowledge that I had published defamatory statements about Clemen Chiang's character. I apologize unreservedly for any damage, hurt and injury which I may have caused to Clemen Chiang. I hereby declare that I withdraw and retract all my said statements about Clemen Chiang's character.