Really, not quite what he’s done at all

A burger van owner is considering hanging up his apron after making a £9million while trading stocks and shares online.

Stephen Bliss, 34, manages his trading fund at night from his home in Redcar using the social platform eToro.

Firstly, the entire piece reads as an ad for that trading platform. Secondly, and candidly, he’s not made that amount at all.

Currently, almost 7,000 people have invested in Mr Bliss’s fund which has a value of $12.75 million – £9 million.

He’s managing £9 million for mug punters.

Hmm. That’s fun actually. So, this platform, what’s the manager’s take on such a fund? One answer would be not much, given that he’s working in a burger van. Another could be ….well, anyone want to go find out? 2 and 20 would be fun, no?

My guess would be that you cannot charge a fee because FCA or summat.

7 comments on “Really, not quite what he’s done at all

  1. Candidly your crude mimicry of my writing style is unacceptable and you will be hearing from my solicitors.

  2. By that logic Vanguard, which manages about $4 trillion, is absolutely fucking minted and they too can give up the burger van.

  3. Is that legal? I’m assuming a burger flipper isn’t a licensed trader or whatever is required to trade on other people’s behalf. Isn’t this regulated heavily?

  4. Sounds like he will be serving burgers at her majesty’s pleasure shortly. Apologies for the typo!

  5. A quick gander at the “social trading platform’s” website suggests that the article is bollocks.

  6. Burger man won’t go down too well in “trading funds”world, they want the mystery of financial wizardry to be kept as some mysterious art for the informed.

    Its all guesswork and hope….or copying those who have a track record of being lucky.

  7. It appears that he trades his own money and other people use “CopyTrader™” to clone his trading strategy.

    It is, yes, illegal for eToro to pay him a percentage for managing money. I have no idea if they’re allowed to pay him a fee for allowing others to use CopyTrader™ on his trades, or whether they do. I’m sure the FCA will be investigating.

    There’s no law saying I can’t give a tip to a mate, even though I have no licences or ethical obligations (so I could have been bribed to give that tip). At what point does it cross from that to managing a fund that does require licences and ethical obligations and the rest?

    If the point in law doesn’t make sense, then I expect the FCA will either draft up some legislation or ask a minister to use their Henry VIII powers from the Brexit Bill.

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