A number of ex-college mates who are engineers, accountants, sales managers,etc. asked me if I could trade for them since they have no time to monitor their trades and could only invest long term in mutual funds/ETFs/Bank Structured products(which included subprime CDOs). Some proposed a 40%:40% scheme, meaning at the end of a period (3 mths or 1 year), I take 40% of the net profit or compensate 40% of the loss if it is a net loss. A trader/gambler I met, after hearing this, straight away told me it's a fantastic deal...I ask why? "Just tell them you lost everthing and you get to keep 60% of whatever they gave you" So ... did these Billions dollar funds really lose that much? How transparent are they?
they are' private' funds so they are not transparent or shoud be. you friends would have to 'trust' you with their money.