If Bob really makes 20 mil a year, it makes you wonder why Don bothers to scrap a few hundred bucks a day from this OO strategy.
The biggest secret in the prop business is how much the owners make. If there is a tradeable strategy that he can share, it is not for the few hundred bucks. It is for the thousands of new commish from newbies that will be using their strategy. I don't believe in some of their recruiting efforts such as, "Rather than have Mom and Dad pay $100K for grad school, perhaps help fund a trading account." http://www.elitetrader.com/vb/showthread.php?s=&threadid=18665&highlight=tuition+bright But obviously, the Bright family are raking in MILLIONS-- maybe over 40 mil- if you consider Trader magazine only values the annual income of one of the brothers. This is much more than any daytrader i know. Some of you Bright traders should start asking for better deals.
This is like asking why does someone bother with maintaining a business that's making peanuts in comparison to another one of their business that's like a gold mine. Here's an example... There are professional athletes (football, basketball, auto racing, tennis et cetera) making a million or so per year and still have small business on the side. Here are some small business on the side I've read about (regardless if they are profitable or not) that are owned by current pro athletes making millions from their pro careers: * Restaurants * Signature clothing lines * Flower stores * Roofing Repair * Landscaping * Barbar Shops or Hair Saloons * Venture Capital * Car Dealerships * Song Producing * Air Conditioning * Auto Repair Shop * Pro Gear Equipment * Many others (like infocomercials) that would prompt some to say go get a real job. So...if your main income is making millions...why bother with all the other small income stuff in comparison ??? Always have a plan B just in case plan A stops working or becomes a little boring regardless if the businesses are related to each other When I was in college, I worked for an ex-NFL football star. It was part-time summer work only at his very successful CAD business (architecture stuff). I asked him when did he start his business (I assumed it was after his career had ended). He started it in his 2nd year in pro football eventhough his football career lasted about +8 years. He also said his CAD business didn't become profitable until his 5th year in the pros. In other words...that's 3 years of hearing comments by those that said... why bother. Taking this more off-topic... Isn't Mike Tyson fighting this weekend to continue making money to pay off his creditors (he's broke) ??? Too bad he didn't have a plan B. NihabaAshi
I didn't think Don had any ownership interest in the firm? I thought it was Bob's. (I suppose Don would get a cut for all his recruiting...er "attracting"...campaigns, though.) Anyway, the OO strategy is a huge marketing tool, because the huge capital required to trade it is one of the only things left that you need a pro firm for. (And ho boy, do these guys ever push the OO strat...)
I would think that most of the Atheletes businesses fall into three categories. Tax Havens Other people doing ALL the work, using the players name. Player get paid $$$$ for very little time/work. Something for when the player retires. Now, is that figure that was given about Bright include the income from the prop biz, as an owner? If so, I would not consider that TRADING income at all.
I don't get the impression that Brinker is making 20 million a year. You really think so, or was it a joke?