Just out of curiosity, why would you want to live in the US, if you plan to trade from home? My bet that you might want to find rich investors, but you can do that in other countries. In Europe there are a few countries with zero (repeat, nada) taxes on capital gains, so instead of moving to the new world, you could just pick one of Switzerland, Croatia or Hungary. They have good online connections... If you like to go farer, China doesn't have taxes either, and I bet the cost of living is much cheaper than in the USA. So again, what is the advantage of being here? By the way, whoever mentioned the 1 mill bucks was right, because you can either buy an American wife for yourself or start as a trading business and employ yourself. Actually you could get taxbreaks if you employ a secretary, because the government likes foreigners employing Americans. Hey, if we are already here, if you marry your secretary, you make a double whammy! Have I already asked, but what is the point of trading in the US??? There are actually plenty of reasons to pick a place somewhere else!!!
Thanks guys, I'll study every option you gave me, some are really interesting. What's the point of trading in the U.S you ask ? Well, when you're in South Cali, next to the beach, great weather all year long, that ain't that bad buddy What's more, even though there are many hedge funds through out the off-shore world, getting noticed by or prospecting among the hedgies, turning into a ranked CTA, all that is far easier to reach if you live in the U.S, that's why buddy. Why do you think every artist/business man wants to make it there ? Great food for thought... Good nite Miron
you know it's funny--- after reading the above comment - I find myself sitting here on a cold Winter day -- asking why the H I am still living in Chicago when I could be next to the beach right now in sunny S. CA! You got a point bro.
This post cracks me up since most american traders and hedgies I know have considered at some point changing citizenship and move overseas to stop paying taxes and escape an overregulated environment. South Cali is not the only place in the world with great weather. Wrong. Plenty of money in Europe and Asia, even in South America. You just have to polish your cosmopolitan charm and sales skills. You will find the US is the most regulated country for a hedge fund wannabe, meaning if you don't get seed capital of at least 100 million all the money goes to lawyers accountants office, and so on The US is the cradle of the Hedge Fund structure, but you will find only a minority are the real deal, everyone else is hype and BS. Finally in the US you will not be able to advertise yourself or openly seek for clients due to regulations. Americans (or any other nationality) rarely give money to a foreigner to manage, unless you have years of performance. Forget it if you're french. Trading is not like Hollywood or Palo Alto. Why not moving to Monaco or London, plenty of rich people, meaning plenty of possible clients, and no taxes for non-americans.
How about those nude Croatian beaches? They look rather warm too me: http://www.cronatur.com/beach/foto/rukavac_Vis2.jpg Seriously, beautiful: http://www.escapeartist.com/OREQ9/Living_In_Croatia.html (please notice the webaddress) But why not make the millions somewhere else where there is less regulation and taxes, and come to the US as a tourist??? If you want to be close to Cali, Mexico ain't a bad place, plenty of sunshine there and dirt cheap.
>Finally in the US you will not be able to advertise yourself or >openly seek for clients due to regulations. Americans (or any >other nationality) rarely give money to a foreigner to manage, >unless you have years of performance. Forget it if you're french. Hi, I read carefully what you wrote and most of it makes a great deal of sense. And no, I'm from Belgium. But out of curiosity, what is wrong with those guys in france for managing money in the States ? Regarding my track record, mine is 4 years and it reaches +123% ( proof at my broker's ), I'm an ex institutional junior equity analyst. But I would like to enter the commodities/futures world, the reason why I took and passed my Series3 exam. And thus, the reason why I'd like to "immigrate" in the New World as you said. Miron
At the end of the day, people will give you money if they like you. Performance and resume, help but it's not a lock. It's going to be very hard if you don't have any connections. The best place to network is New York. Also you'd better have an office, you trade from home and no one will take you seriously. I don't know why but I've never met ANY french guy living in America and managing money. There are plenty of french traders in London tough, but I don't know anyone personally.
the only french trader I heard of is the one who "broke" Society General..."rogue trader" no offence to frenchmen