Well this actually depends, because if my profit would be significantly larger i would be ready to pay him 15% fees
The general market for "OPM" is less sophistated and more risk-averse.... less interested in "taking a flyer with the hope of outsized gains". Personal anecdote.... Back when I was trying to build a reputation to manage OPM in a mutual fund timing service, I took my results to local people in the business who'd known me for years. They basically, said... "you are not a name-brand, plus not enough track record. Can't trust you with our customers' assets to manage" (that in spite of the fact that for the prior 2 years, I'd been outperforming ALL of the individual funds of the half-dozen mutual fund companies domiciled in Denver). Even got a write-up in The Denver Business Journal. Still, no joy at raising money to manage locally. (Dark side of that... It triggered an SEC audit of me and my business... passed with flying colors, if you care to know. One bright note... at some point the SEC auditors wanted to see the files of the customers who had "terminated my services". I told them, "there aren't any"! They said, "we've never heard of such a thing".) A couple of years later, I won 3 categories of the US Investing Championships in mutual funds. Results published in Barrons and IBD. Only THEN did people respond with, "I'll give you a shot to manage my money". If OP is hoping to raise money on his own (without the endorsement and recommendation of someone the public knows/trusts[?]... like ML or GS), that's an example of the "credibility head wind" the OP faces to raise OPM. As a side note... one financial guy locally with about $300MM in customer assets under his control, had been looking for an adviser to help with his financial planning/investment management business. I had an interview with him. He later called me back for a 2nd interview and told me, "I interviewed several, but you are the only one I called back for a 2nd meeting.... however you make me nervous as you come off as too good to be true. Whatever question I have, you seem to have the right answer... sounds too slick to me, so I'm not going to hire you". After the US Investing Championships results were posted in Barrons and IBD, he called me up and said, "OK, what can we do together?" I told him, "probably nothing... I've got all that I can handle right now." Ha! Bottom Line... If you're well-enough-connected to get the endorsement of high-profile sources, you can easily raise OPM to manage. If not you've got a long, tough slog ahead of you to establish credibility.
A guy trading out of his garage can only dream of 2/20. Even marquee names in the industry are well below that now.
Five bucks, but $5k to the drunk fellow who got pulled over. Cop says, “did you know that a few intersections back, your wife fell out of your car?”. “Oh, thank heavens,” sighs the drunk fellow. “For a minute there I thought I’d gone deaf”
Me? I live in a 7200 sq ft, custom-built home on 2.5 acres. (Fully paid, no mortgage) What's to feel sorry for me??
Wrong. I suppose some say they do, but few actually. (Is 7200 sq ft, "huge"? Doesn't seem like it.) You're treading on thin ice girly.... basically suggesting I'm a fraud when you know nothing of me. (Your mama should have taught you better manners.) Strike one.
%% Fair question,VolAl go. Most on elitetrader like to do it yourself, as noted. BUT with QQQ doing 2.4% past 4 weeks plus dividends.And QQQ about 33%/+ in 2017, ask that again in the next bear market. BUT they charge a bit less than 2/20 ;its now about 0.20%, on $60 billion/+ They charged about 1% during the bear market of 2000-2002 if i remember right+ usually do.