spoken by someone who has clearly never handled OPM and, therefore, is talking out his ass because he hasn't clue one what he's talking about. if, on the other hand, you had ever managed $, accredited investor $, what you would KNOW is that there is ZERO correlation between net worth and ones investing acumen/sophistication/etc. in fact, to the contrary, the more successful and educated someone is in a non investing vocation (think Dr. or lawyer), the worse they are at investing/picking investments/managers. these people are smart and think they're smart about everything- smarter than you, smarter than me, smarter than the market. they fall victim to lots of scams and swing for the fences way too much. if an accredited friend of a friend of the OP heard the #'s, saw proof and the friend invested, fair chance the friend of a friend would. opinion based on 20 years managing OPM, and 14 exclusively only accredited. note: i agree that it is way too early for OP to be attempting this route, just pointing out the complete idiocy of the post i responded to.
Guys, I have a question. I played blackjack last night, about 200 hands total. I walked in with 100 dollars and walked out with 400. It's just my third time playing. The first two times I lost all my money. Do you guys think I should start a blackjack fund based on my results last night? I'm thinking about raising 100,000 and playing full time. I believe I came up with a profitable strategy for blackjack. I heard someone say something about variance but I don't know what it means.
you appear to be implying that i was being universally condescending. hardly. i have seen so many posts on ET like the one i quoted, and i finally decided to attempt to debunk this silly myth. accredited investors are given pretty high status here out of ignorance that gets reinforced by everyone parroting the same opinion- even though none of the people have ever run $. most ET members would have a hell of a time picking the accredited investors out of a lineup- they'd be picking the slick dressed douche who is up to his eyeballs in debt, when the one with 10mm liquid is the slob next to him. and that guy, if a friend of a friend or whatever, will often take a flyer for 25 or 50m and, if you do good, he'll add more funds- esp. after a year like this. they know what has happened to the markets and they will think you're a god for being up big in a year like this. again, you'd have to have that connection (friend of friend)...
Thanks gangof4. I was about ready to end it all. It is interesting to see the responses this thread is receiving. Although I appreciate that it doesn't guarantee trading success, I did have a 3.64 gpa in my MBA program including an A in my Stats class and joined Mensa two years ago. And Purdue requires more than the ability to fog a mirror before handing out Engineering degrees. I may be inexperienced but I doubt that I am stupid.
i hope you didn't take my post as an endorsement. just because the friend of a friend may give you a shot, doesn't mean you're ready. managing OPM is, to me anyway, MUCH more stressful than your own. losing your own money is tough, losing the money of people who have entrusted you and showed faith in you- that's a very different kind of stress- trust me on this! ok, gotta get ready to trade (my money, btw)...