Posted on April 21, 2020
No spin here. Just humility and a desire, with G-d’s help, to repair the internal flaw that led to this embarrassing mishap.
What started as a thought experiment in a late afternoon huddle to address a rare set of option prices was, to our chagrin, subsequently implemented (and replicated) in trades that were sent to you, our subscribers.
It was done without the rigor we regularly apply to our trades, and without the traditional safeguards you’ve come to rely upon.
As a result, we were forced to backtrack yesterday in the abrupt manner we did.
In our nearly thirty years of collective publishing experience, we don’t recall an episode of failed oversight such as this.
We’ve since made an internal reckoning of our processes, identified precisely where the breakdown occurred and implemented a more vigilant control regime to ensure it doesn’t recur.
We’ve also updated the website to reflect the error and to ensure no subscriber errantly initiates the trades as originally issued.
We repeat again that anyone who participated in trades dated April 6th (SLGN – see below**), April 16th (GDX/UUP), and April 19th (IAU/SLV) should follow yesterday’s directives to ensure proper safeguards are in place.
If there are any questions, please contact us directly via the Customer Service Form on the website.
As we stated at the outset, we’re moving forward with the goal of delivering the same consistent winnings to which you’ve grown accustomed and to maintaining the confidence you’ve placed in us.
Our sincerest regrets for any confusion or upset this may have caused.
Alan B. Harvard and the team at A Jew and His Money.
**The SLGN trade as issued locks in a loss of $2.18. The P/L profile offered was incorrect.
Please contact us using the Customer Service Form if you set the trade.