Agreed. It is for the guy that has no capital or does not want to risk his own capital and wants a good training model with ongoing mentorship, which is critical to success imo. They are a good outfit near as I can tell.
No upfront, out of pocket costs. All costs come out of profits. They take the risk for you. one out of three succeed, which is pretty good in this business. That makes up for the two that crash and burn. They lose 25K each on those two traders, but the successful trader makes up for it.
but from other post , i read there is overhead fee ------------- this year my overhead (including full insurance for a single, no child adult) is going to be $27k. http://www.elitetrader.com/vb/showthread.php?s=&threadid=119759&perpage=6&pagenumber=3 ---------
There is no financial risk to you or upfront cost other than having to support yourself until you become profitable. Your overhead is their cut, commissions, paying your mortgage, buying hookers, etc. Jamie is very accessible and helpful and can answer your questions more thouroughly than me.
i'm confused , why these prop firms could not transparently introduce the term on the website rather than using a staff to answer question .
very nice... btw, when you have profits, it is after commissions. they show you exactly where you are minus commissions. ex., if you made 5k on 50k shares, you would net somewhere around 4850.00. so if you made 20k for the month, that's what you would have after commissions. you wouldn't have to subtract an additional 3k or whatever... so it would be 20k minus your monthly fees * .45... so closer to 8500... sorry if I'm splitting hairs, just saw these threads were popping up again... I used these threads as well to put feelers out there... finally decided to give Jamie a call and took the job... best thing i've ever done. started apr 08.
Cool man, definately looking at them if I move back to austin. In houston right now. Let us know how things progress
slepmore I interviewed with Kershner as well not too long ago and did not receive an offer. I hope it's not because I didn't send a "thank you" letter. let me know if u get it.
I didn't get the job either. I flew out from Denver to interview and yet Jamie could say nothing more than "we are going to consider other candidates at this time". Lame. I will never know shy because neither she nor the risk manager whom I interviewed with would tell me despite my asking for feedback.