Thank you for your well thought out post. I view this as an opportunity for someone who is looking to make the jump from day-trader at a prop. shop to a trader at a "real" hedge fund. In a way, I am playing off the cache of the Fund and it's repuation. In other words, when I see a resume from someone who's last job was at Worldco, etc. I immediately throw it in the garbage. However, if I am looking at a resume from someone at a mainstream Fund, I take a second look. I am making no misrepresenations, this deal starts as a "day-trading" type deal. It may evolve into something bigger. I suppose that I personally do not believe that a day-trader looking at a screen and trading has a legitimate edge and I don't believe in the strategy. However, if someone else does, and they are doing it somewhere else, why not do it with me? Furthermore, if someone proves to me that they are THAT good, I will be willing to ulimately risk firm capital on them. Thanks again for your reply.
what type pf performance are you seeking before offering an actual "job" with your fund ?? why not just request people's records and let them speak for themselves instead of wasting time setting up a mini day trading shop within aqu. ? you are on the right track, just executing a little wrong. best wishes, surfer
Thanks for saving me the time to find the link myself. Anyway, we have 14 employees and it's an expensive operation to run. It's my business (not yours) as to when I need to generate operating capital and when i don't. I'll tell you what, if you want to invest, i'll take you in at 5/20, then i won't have any further concerns, ok?
Thanks again for your response. With respect to the legal aspect, I am the General Partner and the Fund's Chief Investment Officer, which is disclosed to Investors. I am well within my rights to hire anyone that I believe has a strategy that can make money. That is the way the firm is set-up and that's the way most hedge funds are set-up and more specifically, all multi-strategy funds. To answer your other question, I'm not sure how long the record needs to be, however, I don't like past track-records very much. I want to see someone's methodology in real-time. I want to see how they handle the adverse periods, the good periods, etc. It's very hard to tell that from the numbers, even if they are accurate numbers (which I am always suspicious of). Furthermore, I am very very skeptical that anyone can actually make money as a "day-trader". I really need someone to prove it to me in front of my face before committing my capital. Thanks again for your response.
these guys are totally legit--- http://www.aquilafund.com/ is probably a good opp. for someone. what is your minimum capital contribution for the 'traders' ? best, surfer
Thanks for giving us your endorsement. Yes, as you say, we are very legit. That website is very out of date and we have developed significantly since. More staff, strategies, etc. As far as the amount of capital, I have no specific amount in mind. Obviously, the trader will be allowed to take positions in a size according to his capital. I would say $50k is a good starting point and up from there. Another thing that I would like to clarify from previous posts, I am not looking to "take anyone's strategy". They come in with what they have and leave with what they had if not more. I'm not sure what some people were referring to in previous posts, also, I don't know what someone meant by "people capital". I am certainly not in need of bodies. I get about 50 resumes per day. Thanks again for all the responses especially Marketsurfer! :0)
Your rates are way too expensive for experienced guys. Those rates you posted are even expensive for beginners. If you want to get daytraders you'll have to lower them.
You think Worldco has 400 traders there to play video games? Guys make serious money, some of them with above 90% winning consistency. The reason people won't come to you is: a. The fees you charge are rediculous b. A hedge fund surrounding for a day-trader is dangerous.
Thank you for your reply. With respect to Fees, I have no specific amount set in stone. I just threw the numbers out there to get some opinions (which I have and that has been very helpful). I certainly can offer lower fees to the extent that I am able to negotiate them for myself (I would like to take a .25c spread for myself). This is exactly the type of insight that I am looking for. What fee structure would be the highest that would still be able to attract traders? Thanks!