Reading comprehension is obviously not your strong suit. It was not a stranger, it was someone he knew for years but never approached prior. Additionally, from the poster's tales, it's more than likely that the story is real. He simply seems to know the industry and his experience trying to raise money is very reminiscent of what really happens. On a final note, there is no need for your condescending tone. The poster is not spinning tales of success & boasting. He is actually at a point where he may take the route that will end up costing him money in the long run.
HFStartup and retaildaytrader are the same poster, playing a game on ET by responding to himself, and sometimes making identical posts, as shown below.
All you guys will lose or steal the money anyway as you have done for the last several years. Its a wonder that anyone would be gullible enough to trust you with one dime seeing all the mangled accounts.
Another sad mental paitent living the fantasy as he toils away in a cubicle. The hfstartup post is so obviously bogus. Truly sad
It amazes me how we seem to lose our civility just because we are on the internet. I certainly have my faults, but since starting this thread I have been called a liar, gay, a cheat, a trader wanna be. I have even been barred from quoting Einstein. But seriously, why? What is the point? All of this has been done by people that don't even know me... For the record, I am not Retaildaytrader (remember I am a self-admitted daytrader failure) and I am still puzzled at how such a connection was even established...Either way, the spirit of my posts are twofold: to create a learning environment for myself and others who want to learn more about starting up a hedgefund, and to network with others that are sharing the same experience. Nothing more, nothing less. We don't have to agree on everything, in fact, I believe ideas have to be challenged to grow to their full capability. I welcome opposing views. But please keep the posts constructive and focused. Again, I kindly thank all of you have contributed useful information and opinions. Thanks.
WOW ! its like a rumor being passed around in here. People saying things that should be done that are already mentioned as done. numbers and comments being turned around and biggest of all jealousy!! The guy that mentioned not trusting all those hedge fund managers that lost or stole money? Does that mean that all priests molest kids therefor screw all those religious freaks???? Plenty of honest HARD WORKING hedge fund managers out there. Hopefully i will be one in the future also !
I don't think this is necessarily the evidence that HFStartup and retaildaytrader are the same poster. But retaildaytrader has a history of copy-and-paste other people's post and uses it as if it is his own. http://www.elitetrader.com/vb/showthread.php?s=&postid=2935654#post2935654 (My past: Second post from top)
As this was called a hedge (not "mutual") fund, I am assuming that leverage is used. If not, no biggie. But if so, I cannot imagine anything more foolish than someone accepting money from friends and family for trading purposes. It is quite likely they do not really understand what is really at stake and it is also quite likely that someone trading $125K "as a hedge fund startup" really does not grasps the impact of losing their money if the likely eventual risk of ruin hits him/her. It is a great way to turn them into former friends.