Hot Shot Traders or Con Artistes

Just a few days before the  anniversary of a hot article appearing in the Jamaica Observer on January 25, 2008, we continue to warn people, careful where you put your money.  In this article in the Jamaica Observer, Al Edwards, referred to three Hot Shot traders.  Here is an interesting now questionable quote about David Smith.

Perhaps the best-known and now renowned FX trader to come onto the scene in recent years is David Smith of Olint. For seven years he worked as a licensed representative of Jamaica Money Market Brokers (JMMB) specialising in international FX trading under the guidance of both Keith Duncan and Julian Mair.

The question now on many thinking persons minds was David Smith(OLINT) or Donavan Davis JR.(Capital Blu) really trading at all?

We encourage people to be very careful were you put your money.  Everybody is potentially open to being scammed  or conned but make every effort to avoid it.  Do not ignore the warning signs!

  • If it is too true to believe it probably is?
  • Is the operations transparent ?
  • Is it open to regulation, (yea we know of Madoff, but if they don’t want to be regulated stay far away)?
  • Do you know how the investment will make money?

By June of  2008, Al Edwards, had to be singing a new tune.

It may also be the case that having paid out anticipated returns to his club members, and with no new money coming in; he was caught between a rock and a hard place. Then again, the question has been posed: Was he fully engaged in foreign currency trading, or were there detrimental lapses?

What do you think?