No, participants will not pay for anything. The capital and terms will be on a case by case basis depending on trading style and risk profile. The fund administrator and other details will be provided to the people chosen for the program.
I am afraid you're not doing a lot to alleviate my skepticism... Surely you can be a wee bit more specific. As is, your answers above suggest that you really have no clue and are out here for some nefarious purpose. I might conceivably be your target audience, but my interest is waning...
Martinghoul, I understand why you'd be skeptical. Actually, it probably indicates that you've had a certain amount of success in your life that's attracted various business opportunity offers that for the most part are a waste of time. 1. I am not going to pubicly announce my fund administrator in a forum like this because I don't want him getting slammed with people trying to sell him stuff. He's a small firm that does fund administration for just a couple hundred hedge fund managers. 2. We can't decide our allocations until we see the risk profile of the traders we will fund. We already have our funds' assets allocated to a variety of fund managers and traders, and we're looking for people who we think will produce positive returns that are not correlated to our existing investments. That said, typically are smallest investment with a fund manager is in the range of $500,000, so that should give you some idea of where we're starting from. As I said in my OP, this isn't for everybody. And like all good recruiting strategies I've ever implemented, it becomes sort of a self-selecting process. As it is I already have over 50 PM's from people who seem to be open and enthusiastic about learning more. All I would suggest is that while skepticism is always a healthy quality, you also need a wee bit of optimism too or you'll never pull the trigger on a winning opportunity. But I like skepticism a lot.... shows your primary focus is on risk management, not hitting home runs. Doug
you might want to list a few details like where you are looking for traders from as its pointless someone applying from australia if your looking for traders in america.
Sure, Doug, I am not expecting you to name any names, esp your administrator. Again, if you're seriously running this business, pls forgive my skepticism. It is not meant to offend. However, you're still not providing here anything specific that would lead me to conclude you're actually serious. Specifically, what sort of a liquidity profile do you expect your traders to have? What is your comfort zone, especially in this mkt? Do you seek high-frequency, liquidity-providing sorts of strategies? Or you running a distressed mtge fund with a long holding period? Or do you diversify wrt to liquidity profile? Do you diversify wrt to types of strategies, i.e. macro, rv, equity long/short, technical intraday, etc? What risk-management principles do you implement to manage your traders? VAR budgets, max drawdowns, working capital limits? You should be able to say something meaningful about these subjects before I begin to take you seriously.
Do your investors know how you are gathering talent?? Your on the wrong road, the very wrong road in this environment! LMAO!!
Small firm, couple hundred hedge fund managers!!!! You are out of your mind, and HAVE NO CLUE WHAT YOU ARE TALKING ABOUT. several hundred managers is a HUGE administrator. go take this nonsense back to trader lab or some such place full of non traders. This guy has shown his ignorance of the business, I suggest being very very very careful!~
Pattty DeMartin teaches REMOTE VIEWING!!!! This is getting more and more funny, thanks for the show! http://www.thecrossingsaustin.com/w...c=3&sub=7&id=9dde7560-da7d-1028-9bd5-001143ce
Hi Dax, We're not limited by geography. You're right, I should have been more specific. When I posted this thread I had no idea I'd get this much response or I would have had some sort of streamlined, online FAQ or application process set up. The whole concept comes from the fact that my partner and I manage a fund of funds, and we allocate money to traders who are structured as hedge funds. We thought that there are probably a lot of talented, undiscovered traders that we could partner with before they get too big. With the problems with the financial markets in 2008, we see a certain value in having our money held in our own name with trading authorization being given as opposed to wiring money into some guy's hedge fund account. So to break this down in its simplest form, here's how we envision this working: 1. We put money into a trading account in our name, 2. We give you trading authorization on the account, 3. You trade from your dining room table in your pajamas for all we care. We also don't care what you trade or how often you trade, or even if you hold overnight. All we need is a profile of your risk exposure ahead of time so we know how much money to allocate. 4. At the end of the month, we split the profits you generate. 5. If the account loses money, it's our loss and not yours. Does that make sense? Also, just to make sure this is crystal clear, we asked Patty DeMartin to coach our traders to maximize and enhance the skills they already possess. She's not going to coach anybody on whether or not to trade e-minis or bonds. She takes anybody who trades with any style and helps them trade better. Usually much better. Hope that helps! Doug