Jack Lawrence Cautionary Tale

[Rockslinger]

There is an article in to-day Sunday's Toronto Star about the perils of handing your money to someone else to manage, even legends like Jack Lawrence and Bernard Madroff.

[wet_suit_one]

Ummm....

Link? Maybe?

[Rockslinger]

Link? Maybe?

I read the paper version of the Star. Starts on page A1 and continues on page 15. Jack Lawrence was a legend on Bay Street. Bank of Montreal bought his firm. He opened his own hedge fund. Investors were attracted to his fund by his stellar reputation. The fund lost 80% of its value in 2008.

[JaguarTO]

Rockslinger, You are aware that Jack Lawerence was killed in a plane crash in Aug 2009.

[Rockslinger]

Rockslinger, You are aware that Jack Lawerence was killed in a plane crash in Aug 2009.

Yes, I heard about it when it happened and it was also mentioned in the article in to-day's Star. The Star tried to get an interview with his partner (Mr. Ravi Sood) but he wasn't in a very talkative mood. Jack was a very troubled man, his fund was crashing and burning, angry investors and an acrimonious divorce from his second wife.

[rubmeister100]

.I doubt it but I won't rule out the possibility that the plane crash could have been a suicide. Jack was a very troubled man, his fund was crashing and burning, angry investors and an acrimonious divorce from his second wife.

I understand this is an anonymous forum but that your insinuations are pretty low class.

First off, all stooges who bought into and continue to buy into the stock market CASINO game lost 80% of their investments during the same period.

Secondly, there is NOTHING to suggest he was a fraud like Bernie Madoff. Save for his house and cottage etc, he had most of his own money in the same fund he had other people's money in and it is still operating.

Third, suggesting that he committed suicide by airplane is fucking outrageous and shows you don't have a fucking clue about the guy.

He loved his kids and would never let his son witness him crashing into the forest. You are also accusing him of murder as his friend was with him in the plane.

He loved aviation so much that there is no way he'd bring airplanes into disrepute.

And the circumstances of the airplane crash are such that the low speed crash on take off could have been very survivable. In fact, Ed Robertson of the Barenaked Ladies crashed the same model of airplane in the same circumstances a year earlier and all on board walked away. If anyone brighter than you wanted to commit suicide by airplane they would make sure there was no chance of survival.

I've noticed your handle and see you have a lot of posts and time on your hands but don't recall if you are a troll elsewhere. Maybe you have nothing better to do than be a troll and make malicious suggestions about some guy who by all appearances was a decent guy with a nice family.

But like The Star, you don't have a clue about what you are yapping about.

[Rockslinger]

First off, all stooges who bought into and continue to buy into the stock market CASINO game lost 80% of their investments during the same period.

80% is a very high loss rate. During that period the general markets contracted around 45%. His fund lost almost twice that.


Secondly, there is NOTHING to suggest he was a fraud like Bernie Madoff. Save for his house and cottage etc, he had most of his own money in the same fund he had other people's money in and it is still operating.

Did you read the Star article? No one said he did anything illegal but those "disclaimers" that his investors were asked to sign are not very ethical.


Third, suggesting that he committed suicide by airplane is fucking outrageous and shows you don't have a fucking clue about the guy.

I did say "I doubt it" but that was supposely a simple take off for an experience pilot. What went wrong? Anyway, I "hear" you and will delete any speculation from my post. I also "hear" you about him loving his son but he left one of his 6 children (from 2 failed marriages) out of his will. Did he not love that child?

[rubmeister100]

80% is a very high loss rate. During that period the general markets contracted around 45%. His fund lost almost twice that.

Ahem... if someone wanted to invest in "the general markets" they could have bought an indexed mutual fund or bond fund etc. When you buy into something called a HEDGE FUND you assume a higher risk for a similarly higher potential reward. Any pussies who whine after they bet on high risk/high yield investments are also assholes.




Did you read the Star article? No one said he did anything illegal but those "disclaimers" that his investors were asked to sign are not very ethical.


Yes I read the article. And I seem to have actually understood it also. The issue was not that of disclaimers, but of an accredited investor being allowed to make investments without prospectus being filed. If you don't agree with that then you can ask the government and regulators to change the law. But then your nephew wanting to raise money to start a lemonade stand would have to hire investment bankers to prepare a prospectus! ;)

Those "disclaimers" are also contained in ALL stock market investments, even the most pedestrian 2% ROI bond fund/mutual fund. If you want a guaranteed investment, you can buy a GIC with a CDC insurance or a Government Bond.




I did say "I doubt it"

I doubt you are really not a white slavery advocate but I would't rule it out as you are here talking about paying for sex but..


...that was supposely a simple take off for an experience pilot. What went wrong?

Well, you could wait until the Transportation Safety Board finishes their investigation (http://www.tsb.gc.ca/eng/rapports-reports/aviation/2008/index.asp) and then comment on it if you have a clue what the big words they use might mean... but I'd not be surprised by the witness accounts thatt he simply forgot to lower the flaps to the takeoff position or maybe he made the mistake of taking off downwind and ran out of lake and tried to pull up at an airspeed that was too low, couldn't escape ground effect and mushed into the trees. Both these situations are classic floatplane accidents that fit this scenario.

Suicides by airplane that I've heard of are usually vertical dives into the ground or flight over the ocean with no end in sight.


Anyway, I "hear" you and will delete any speculation from my post. I also "hear" you about him loving his son but he left one of his 6 children (from 2 failed marriages) out of his will. Did he not love that child?

You almost had me there and I was going to leave your post alone... but WTF is with you?

Did he not love that child?

Child? LOL! Why would you refer to the offspring of a 75 year old man as a "child" if not to try to smear the dead guy as some sort of monster?

Who the fuck knows? Maybe that child was an asshole? Maybe that child already got his/her inheritance somehow, maybe that child was a druggie and he loved the child so much that he couldn't give money to save a life?!?!



I guess I know how you decided on the Rockslinger handle!

[Rockslinger]

Not trying to pick a fight with rubmeister nor to disparage the reputation of the gentleman who is the subject of the Star article but I learned a long time ago not to put anyone on a pedestal nor to believe the public image that a person or corporation likes to project. My sympathies lies with "Mr. X" and Peter C. Newman who lost a ton of money investing in this man's fund. Yes, it is a cautionary tale. Anyone who ignores it, do so at their peril.

[hinz]

When I read the thread I suspect you are talking about the pornstar from Belgium.:eek:

http://en.wikipedia.org/wiki/Jack_Lawrence_%28pornographic_actor%29

Having said that, I am probably not "exclusive" and loaded enough to get their attention to manage my hard earn money.

BTW, sometimes you have to wonder how many of their clients getting equally wealthy like the advisers. You get the feeling their bulk of their wealth came from the proceeds of selling their "books" to big financial institutions where the honchos are more than willing to pay top dollar to bulk up their AUM.

It's kind of reminding me big oil companies taking over the medium size oil exploring firms instead of doing organic growth.