OK, so I decided to test out Patak on it's Combine starting next week. I figure if I can make their $150/day average and break $13K, I'll consider switching out to futures. All the big money is shifting to futures anyway and will probably continue until the Fed makes up it's mind on interest rates.
I'll keep y'all posted here with my daily results. I'm sure you're dying to see how I do.
LOL.
Hedge Funds Burned By July Outflows
Sep 3 2010 | 12:36pm ET
Hedge funds continued to hemorrhage assets despite strong performance in July, according to a new report.
Investors yanked $2.9 billion from hedge funds in July, TrimTabs Investment Research and BarclayHedge said. The outflow—the industry’s second-straight monthly setback—of 0.2% of total hedge fund assets left industry assets at their lowest level since November at $1.53 trillion.
“Hedge funds posted a positive return in July, but they did not regain the ground they lost in May and June,” BarclayHedge’s Sol Waksman said.
Things look even grimmer for funds of hedge funds, despite a proportionally smaller outflow, according to TrimTabs’ Vincent Deluard.
“Funds of funds are in a bad way,” he said. “They posted only five inflows in the past 25 months.” One of those months was not July, when investors pulled $670 million from funds of funds, or 0.1% of total assets.
Things were not bad across the board, however. Commodity trading advisors alone took in $3.9 billion in July, the strategy’s fifth-straight inflow.
OK, so I decided to test out Patak on it's Combine starting next week. I figure if I can make their $150/day average and break $13K, I'll consider switching out to futures. All the big money is shifting to futures anyway and will probably continue until the Fed makes up it's mind on interest rates.
I'll keep y'all posted here with my daily results. I'm sure you're dying to see how I do.
LOL.
Hedge Funds Burned By July Outflows
Sep 3 2010 | 12:36pm ET
Hedge funds continued to hemorrhage assets despite strong performance in July, according to a new report.
Investors yanked $2.9 billion from hedge funds in July, TrimTabs Investment Research and BarclayHedge said. The outflow—the industry’s second-straight monthly setback—of 0.2% of total hedge fund assets left industry assets at their lowest level since November at $1.53 trillion.
“Hedge funds posted a positive return in July, but they did not regain the ground they lost in May and June,” BarclayHedge’s Sol Waksman said.
Things look even grimmer for funds of hedge funds, despite a proportionally smaller outflow, according to TrimTabs’ Vincent Deluard.
“Funds of funds are in a bad way,” he said. “They posted only five inflows in the past 25 months.” One of those months was not July, when investors pulled $670 million from funds of funds, or 0.1% of total assets.
Things were not bad across the board, however. Commodity trading advisors alone took in $3.9 billion in July, the strategy’s fifth-straight inflow.
Good luck CQ. I'm really interested in seeing what's behind the curtain if you do well.
Good luck CQ. I'm really interested in seeing what's behind the curtain if you do well.
I still think they're making some cash off this "game", but relative to their trading profits of the futures firm (Jesus, wheat alone is a home run), I can't see how it's a scam.
But then I see the bimbo model walk on to the screen like some virtuaporn site...
I tested the software out, was up about $2500 at the end of the day trading just the the S&P contract, and decided not to do their "test" or pay their fee. They refused, said I had to pay the fee and do 4 weeks, so I told them to fuck off. Last week they sent me three more emails under three different names of staff members, one that said a "scout" would contact me directly to fill one of 12 open trader positions they current had open, so I replied and they responded again pushing me to go back into the test.
It's a scam, no doubt about it, I just needed to confirm it for myself and indirectly anyone that searches for Patak on this site and Google.
I tested the software out, was up about $2500 at the end of the day trading just the the S&P contract, and decided not to do their "test" or pay their fee. They refused, said I had to pay the fee and do 4 weeks, so I told them to fuck off. Last week they sent me three more emails under three different names of staff members, one that said a "scout" would contact me directly to fill one of 12 open trader positions they current had open, so I replied and they responded again pushing me to go back into the test.
It's a scam, no doubt about it, I just needed to confirm it for myself and indirectly anyone that searches for Patak on this site and Google.
Caveat lector.
---------- Forwarded message ----------
From: @pataktradingpartners.com
Date: 24 September 2010 16:33
Subject: follow up
To:
Hello,
Thank your for your previous interest in the Commodities Futures Trader position at Patak Trading Partners, LLC. We would like to let you know that we currently have 12 trader positions available. If you are still interested in this position we would like to hear from you.
We would be happy to answer any questions about the position and put you in contact with our trading scouts.
Best,
Jennifer
Patak Trading Partners, LLC.
Chicago Board of Trade
Trading Floor
141 W. Jackson Blvd.
Chicago, IL 60604
Office: 312.252.9753
Fax: 312.341.7666
