i have a question for anyone starting their own LLC for the purpose of investing/trading in an aim to generate alpha for investors. As a startup, how do you deal with having no track record? for most cases, isn't this is the one thing that bars new investment/hedge fund/mutual fund/ ? i mean, who would besides, your relatives, invest in someone who has no track record ? how can this problem be resolved? incubation funds ? i have a friend, who just graduated from a Canadian university, and he wants to start a LLC company in here or hong kong. he wants me to join him, but I think I lack the experience (i run an investment club at the university only), and have doubt my skills as an investor (i have traded for 2 years, and just beginning to use value investing methods in equities only now). I've read most of the important literatures like Security Analysis, and slowly starting to grasp the principals and its philosophies. As for trading, I was quite successful using algorithms to trade, but then it blew up, causing me to break even. I realized trading is volatile, and i turned my focus on to investing for long term. As for my friend, its similiar level of skills and experience as me. but he would focus more on acquiring investors money. I suggest to him that he can do fund focusing only on equities, OR getting the CTA, and doing a FX fund, or pooled futures fund. many thanks!