Money management setup?!

Discussion in 'Professional Trading' started by musclext, Apr 4, 2009.

  1. musclext


    Any info will be appreciated!
    I have a bunch of freinds who want me to manage there money,any one know how I can set up this club in Canada or offshore?
    Also if I find a way to set it up, what type of comisions should I charge them?

    Thanks in advance!
  2. Sounds like you are setting up your hedge fund more than setting up a club. A club usually means member meetings once a week or a month and they vote on what to buy and whether/when to sell something they held. If you are making trading actions on a daily basis by yourself for the benefit of your fund, you are running a hedge fund.

    But I don't know anything about setting these things up.

    As for how much to charge them: as much as what you can get away with... :D
  3. musclext


    I know Bolimomo that it sound like a hedge fund , but for someone to invest in ahedge fund don't they have to have a minimum net worth and a minimum amount to invest! like $100000 or so? My guys one has $5000 the other $15000 the pther $50000! you know what I mean?
    As for how much to charge them! my returns are north of 50% per year! In 2003-2004 my returns where over 300%!
  4. The link listed below has several books on how to create a hedge fund:
    How to Create a Hedge Fund

    Here's a Video from the MoneyShow on how to create an ETF Hedgefund:
    ETF HedgeFund

    Regardless of your past performance, be very careful with this project going into the future! :D

    Good Luck
  5. musclext


    Thank you MandelbrotSet for your info! Yes I know what you mean by "regardless of past performance", I am trading now for about 20 years and I have gone throught those overconfident times and my performance suffered! Now I AM super humble and r doing better than ever!
    Thanks again!:)
  6. Guys... Don't get carried away just yet. If you really going to do this, make sure you have some legal, legit stuff to CYA - what happens when your fund runs into a loss for the year. How will it be handled. Make sure your investment partners understand it and agree to it. These things can turn best friends into enimies.
  7. That actually is what I was referring to.

    The OP is new here, but a few years ago we would have threads like these, and just about everyone would come out and say that they think it is a bad idea, mainly because all you need is one bad apple to spoil the whole cart.

    I've had bad experiencese recommending mutual funds to people and right now I have no interest in sharing my trading skills with anyone outside of my relatives, because absolutely no one understands the concept of managing risk, but they always want to pursue the reward.

    Checkout a copy of Putbull Trader before youy really get into this too seriously, musclext. It might affect how you look at some things.

  8. musclext


    Yes I know what you mean "These things can turn best friends into enimies" and thats one thing that it doesen't matter how good I think I can pick tops and bottoms(in the market), the market has its ways!!!haha:D
  9. musclext


    Yes thanks GL , I will get a copy of Pitbull Trader before I get into it to serious!