Trade your own account successfully. Then you will have people calling YOU to manage their money. You won't need to advertise...
EXACTLY! Anyone with half a brain knows this....if you have anything valuable regarding trading people will be banging down your door to get in. You probably are still in the idealogue stage--if i can make two nickels and lose one i must be worth something to others--not quite. I've managed OPM for close to ten years without any type of liscense or advertising. Find fifteen people who believe in you and your work that will raise $25M for you to manage. Live life and let some other joker worry about liscenses and registrations and being the government's bitch. Wise up OP.
Get licensed. One investor lose money, sue you, you not legal, Feds put you in jail for 10 years. End of story!! Don't be stupid and gamble with 10 years of prison time!!!! SteveD
"Find fifteen people who believe in you and your work that will raise $25M for you to manage. " Sounds easy, but it is difficult to find the 15 people. Maybe you can believe in me and connect me to your 15 people. Of course that I can provide trade histories in both my account and my client's and why/how I am so successful in making % gains.
Get licensed and go with Option 2 - The Investment Club. It's fairly original and it solves the cart/horse problem: How do you start small without seeming like a piker and how do you get big without starting small? Managing small accounts via and investment club seems like an answer. But yea, if you are going with OPM, you gotta get licensed.
Bond - thanks for this post. Could you be more specific? I think many ppl on here would like to know how specifically to make performance known (we all have ideas, but they seem ridiculous: post on ET, put an ad somewhere... seems sophomoric). How does an investor/trader who is not a member of the wall st club make his performance known? Thanks.
Yeah i know. IT's not easy. Nothing in this business is easy. I grew up around money; all of my friends families have it and i don't I guess my point is to say that once you have something worth investing into, i.e. a proven ever evolving model, then seasoned investors will jump at the oppurtunity to fund you. You can get sued if you are liscensed as well and all clients sign and hold their own accounts with LTA's(limited power of attorney). I still think that getting liscensed is neccessary for only certain individuals and operations, it never was an issue for me. Track records don't reflect the individual at this level....you need for people to believe in you first, your work second. Or you can get hired at a HF and let them worry about raising capital. That is, if you have something of value to bring to the table. I want to work for LACM in the next five years...bout the time when i have something that could run wihtout my immediate intervention. I wish you the best of luck...dealing with OPM is a lifestyle, learn to live it...imo
In certain countries like Canada, it's very very difficult to get licensed, takes 5-7 years and CFAs and you have to work for a major instituation... not as easy as signing a few papers.
I love this advice: get a lawyer. Securities regulations and possible fund structures is an incredibly specialized area. The only place that you will find an ** experienced ** securities lawyer... Is in a major financial center like NYC, Chicago, Toronto, etc. Also... Someone in the business for 10 years or so... Like a few of the players here... Will know a lot more about the ins and outs than some lawyer... Who has never built or run a securities business. But in your specific case... You might solicit a referral to a good snake charmer.