NSFG : Something To Cheer About Or Stalling For Time?

Looks like all my recent posts since returning from a rather eventful 6 weeks have all centred around NSFG in one way or another.

I just received an update from Paul, stating that they gained a profit of 10% by mid-Feb. I suppose this should have come as some good news, but I'm not impressed at all. The miserly 10% doesn't even come close to reimbursing the 66% lost when they took my money and joyfully used it to pay some others. Until that occurs, I doubt I'd be fully satisfied with anything that happens here. To put things in perspective, it doesn't even come close to making up for the 15% lost last month. Moreover I'm very sure many of the MA account holders have already jumped ship, making it more difficult for them to reimbuse us from the fees. To add to that given their recent run of trading losses as well as administrative incompetence, the skeptic in me seriously find it hard to believe they actually made such 'huge' profits.

Alternatively it looks to me like they are stalling for time hoping for a reprieve from members who have already set the ball in motion to prosecute them. I certainly hope this isn't the case and they geniunely made profits, but given all that has happened as well as the inability to recover the money, I simply cannot see NSFG flourishing.

As for me, the bulk of my money is already in limbo, hence I'm not closing my account, nor withdrawing. It's all just paper gains or losses. I'm going to see this one out, either getting all my money back or going ahead with a collective legal action.

Anyway here's the email :

Good Afternoon Everyone, and Happy Valentines Day!

I thought it was high time that we should report something good rather than all the news that we have recently had to report.

As you are all aware, last month we suffered a loss. It forced us to change our plans and bring in and use the trading strategies which we have been developing over the last year or so. Originally the plan was to change to this method at the beginning of this year, however as circumstances unfolded in the later part of 2006, we had to opt for a method that produced results while making money for the company so that we could put this into the pot on top of the trading returns. We all know how that went!

The trading method we have now employed using far less risk and far less volume, from a company perspective this does not generate anywhere near the kind of money which higher volume trading does so we can not put in large sums ourselves as we had planned......let me be clear, we STILL ARE going to be adding to the fund, however it will not be to the degree we once were able.

HOWEVER, this trading strategy is far more consistent from a actual trading return perspective, and after last month we decided that this is the way to go moving forward.

The good news is that since we have adopted this style we have had 5 weeks in a row profits and already have LOCKED IN 10% for February for you guys!!

I firmly believe that if the loss from last month was the cost that we had to pay to bring in this method, then it is a cost worth paying, as going forward into 2007 it is going to make a HUGE difference to the returns we can produce.

I thought that this was news that you would want to hear, so hence this brief update.

Have a great Valentines Day, the month is still only halfway through and I am sure there is much more to come yet!!

Paul