It just hit me. This name, Joe Lewis and Joe Lewis Trading (JL Trading). Apparently, there are two British guys who share the same name and interest. What a coincidence. But it just happens that one of them is the good guy, and the other is, well, not the bad guy, but the crook. OK maybe “crook” is too harsh but what do you call a person who makes mouth-watering offers and promises just so he can have you dip your hand into your pocket and give him your cash?
Which of the two guys do you want to read about first? OK. Let’s start with the good Joe Lewis.
Joe Lewis (Tavistock Group)
He is 78 and lives in the Bahamas. That’s my aunt’s dream vacation destination by the way. I am not shocked why he chose the island but if you have money and you’re successful, no one tells you what to do. He has the headquarters of his company Tavistock Group based there and I think that is partly because of laws connected with trading and investments in general. As a matter of fact, he’s a tax exile there only to avoid the high taxes of his original country. Makes sense right?
I wrote earlier about some of the best currency traders and now Joe Lewis’ name appears here again. This is a guy who quit school as a teenager to help his dad in a catering business. It’s evident that right from the beginning this man had a knack for making money and staying profitable.
Joe Lewis sold the family business later to enter forex trading. You would have to have balls to do something like this unless, of course, you know what you’re doing-especially considering the fact that trading forex involves serious risks. And of course, Joe Lewis knew his bearings. Have you ever heard of Black Wednesday, or perhaps of George Soros? Joe Lewis was the dude who teamed up with George Soros in 1992 to make big bearish bets on the pound sterling, which made them madly rich.
As far as I know, this guy is one of the biggest names in the forex trading circles. He is worth $4.7 billion. “A successful forex trader” will be an understatement. Every forex trader would like to be as successful as Joe Lewis but this would involve a lot of dedication and hard work. Jow Lewis is proof that you don’t need a degree in Finance and Economics to be successful, he’s evidence that you don’t need formal education at all. That being said, I advise my young readers not to give up education just because someone could make it without one.
This is it about the good Joe Lewis. With all his prosperity, I am not surprised some other British dude calls himself Joe Lewis too.
Joe Lewis Trading
About three or so years ago I was looking for a job as a marketer for some forex brokers and landed on Joe Lewis’s page. The broker name back then was JL Trading. When I saw his website I started having doubts about the credibility of this broker. Just his website alone was enough to make me have suspicions. I wrote to him anyway but I wasn’t expecting a reply which I never got. His website was nowhere near professional at all but yet still, he managed to mess up with other people’s money. What were people thinking? That he is the Joe Lewis who worked with George Soros? Seriously? I still have my doubts that this is his real name, if it is, he probably might have changed it years earlier because he knew what he was about to do.
This guy is 59, lived in Turkey and now can’t be found, just like the $200 million of clients’ money that’ he has vanished with. I call him the “British Bernard Madoff”.
His brokerage firm lost all assets as far back as 2009 but he kept on luring other investors into buying into his ideas in hopes that he could recover from the losses made earlier. He traded with emotions and incurred more losses. Real traders don’t try to “fight back” when they lose. I know some people, with no plans when trading forex; when they lose say 10 pips, instead of calling it a day, taking time off to restrategize, they want to win by all means and so try to get back those lost 10 pips, with extra pips for the day. Amateurs. Joe Lewis Trading was one of them.
There are many swindlers like this all over. It’s your duty to find out which broker means business and which ones want to dupe you. It’s my hope that your money never ends up with someone like Joe Lewis, the bad Joe Lewis. Take time to study the market, and build your strategy with time, and some luck, you could be the next Warren Buffet. Who knows.