A sociopath at the gate - Westgate that is

Thank you for visiting my Blog
When one thinks of the articulate sociopath, a dolphin of some variety mostly comes to mind. Its someone who is completely devoid of emotion or empathy for others. Someone completely focused on his/her possess needs with dead no affectionateness for those around them. The definition in Wikipedia states that psychoneurotic is often utilised as an alternative articulate for a psychoneurotic to refrain fault with the articulate psychosis (which is unrelated). The description is divided into two factors: aggressive narcissism and socially reprobate lifestyle:

Factor1: Personality "Aggressive narcissism"

Glibness/superficial charm
Grandiose significance of self-worth
Pathological lying
Conning/manipulative
Lack of remorse or guilt
Shallow affect
Callous/lack of empathy
Failure to accept responsibility for possess actions

Factor2: Case news "Socially reprobate lifestyle"

Need for stimulation/proneness to boredom
Parasitic lifestyle
Poor behavioral control
Promiscuous sexed behavior
Lack of realistic, long-term goals
Impulsivity
Irresponsibility
Juvenile delinquency
Early activity problems
Revocation of conditional release

Why are we discussing this in a financial blog you may ask? Well, it is estimated that about 1% of the population has this disorder. And the Atlantic of direction is particularly attractive for grouping with these primary talents. Bernie Madoff is one of them, Marc Dreier is another. There are numerous others, and not every have much a broad profile. One of them lived in a peaceful suburban accord in Saddle River, NJ. His name was Jim Nicholson. Jim, in his early 40s, a ascendant of 3 teen boys, was mated to Donna - his broad edifice sweetheart. Jim coached the local lowercase league team and was the pillar of his community. He also managed money in a inclose money he created called Westgate Capital. He didnt same to take in institutional money instead he managed assets for his friends, his neighbors, and his family. His returns were sway solid and new assets meet kept reaching in (particularly from grouping closest to him).





These returns would be the envy of most money managers - stabilize and consistent. But it was every a fraud. Its not clear when it became fraud, maybe 2003, maybe earlier. Investors figured this man is not going anywhere, he's got 3 kids and is blithely married. But after the Madoff news hit, many proven to redeem their money and Jim's ponzi scheme began to unravel. The check he sent to redeeming clients bounced. And the thing with the "perfect family" turned discover to be, well, not so perfect after all. From LoHud.com:

James M. Nicholson, accused of streaming a fraudulent inclose fund, cheated on his spouse with added blackamoor for more than a year as he continued to bilk investors discover of tens of jillions of dollars, according to his wife's split papers. Donna A. Nicholson's split papers, a double of which was obtained yesterday, provided details into her husband's extramarital affair and the effects of the malefactor case on her and their three children.
...
He's accused of stealing an estimated $163 meg from his clients since 2004 finished his inclose money business, Westgate Capital Management LLC in Pearl River and Manhattan.Donna Hostomsky and James Nicholson grew up in Haverstraw and were broad edifice sweethearts. They mated on Sept. 26, 1992, and lived in Stony Point before agitated to Saddle River, N.J.
...
Donna Nicholson's split writing accuse her economise of fornication with Toronto assets dealer Linda Boville, play on Feb. 1, 2008. Donna Nicholson's writing land that her economise admitted having sexed relations with Boville in New royalty City, New Jersey, Florida, Las Vegas, Canada and "in another locations and at another nowadays and places too numerous to account."
....
Donna Nicholson accuses her economise of extreme malevolency with the fornication and questionable crimes. She also says they have irreconcilable differences. She claims his arrest "led to the getting of every our marital assets, leaving myself and my children penniless and without some effectuation of support."
...
Nicholson came under investigating by Rockland investigators a few months past after nearly $5 meg in purchase checks to clients bounced, county District Attorney Thomas Zugibe has said.

Unlike Madoff however, Jim didn't see same having an accountant, even an inept one that Madoff had. Why bother? Just come up with a imitation name, intend a PO incase and an responsive organisation - and you got yourself an "accountant".

LoHud.com: He also has been accused of doctoring financial statements and environment up a phony borough business concern that sent discover fictitious statements telling investors they were making money. He is accused of using money obtained finished new investors to pay off suspicious longtime investors. Nicholson is existence held on $10 meg bail in the Metropolitan Detention Center in Brooklyn.

As a genuine sociopath, Jim had to indulge himself some way he could:

LoHud.com: Documents show he bought an welfare in a multimillion-dollar private plane and a $27 meg oceanfront realty in Southampton. He also bought a home at the Time-Warner Building in borough valued at $8.5 million. He also owned a $4.75 meg home in Palm Beach, Fla.

For those who are interested in more butcherly detail on this psychoneurotic (which is not awninged well by the media), see the flooded complaint below. But the moral of the news is that sociopaths same Jim attain it that much tougher for honest money managers to attain it. That's right, there really are honest money managers discover there.

As an investor, follow the 3 simple rules:
1. Watch those returns to attain trusty they are realistic (they have some semblance to what markets are doing and the strategy makes sense)
2. Make trusty there is a real businessperson there who does the audits and knows what she is doing.
3. And watch for signs of the sociopath


Comp 20911



SoberLook.comwww.SoberLook.com be Sure you bookmark this page. Thanks...
Generated by best funky, gaul abizz.
Powered by Mas BAsy.
Free Software