Discussion in 'Professional Trading' started by pierson, Oct 1, 2004.
My pleasure. I enjoyed the thread. Good trading to you, too!
Yes, Aaron, you're correct!!!
I just called the NFA, and the customer service represtative affirmed that for SSF trading, SEC registration is NOT required; it does however require some "online training" (sounds pretty benign).
Great post. Provided exactly the information I was looking for, but let's try a concrete example here.
AceTrader runs SuperFund. SuperFund has
AceTrader's money $100k
Investor1's money $200k
AceTraders' comp is 2%/20%
End of the year, fund has made 151k profit; paid $1000 in data fees.
Let's simplify by using year end figures
Fund Assets = 300k + 151k = $451k - $1k = $450k
A) management fees = 2% of $450k
B) perf. fees = 20% of $100k + 100% of 50K
A is "earned income" with FICA etc. tax payable. B is 60/40.
Is the math right? Anyone?
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