Yeah...no deal in either situation. The startup fund wanted a longer track record and wanted to be able to show potential investors no losing months. Totally unrealistic IMO. The large fund wants to keep tracking me to see how my strategies perform in a down market which I can understand. I think it is in my best interest to keep improving what I have and develop a longer track record. The quality of the conversations will be much different with a three year track record vs less than a year.
@fan27, my limited experience is that they want to brain rape you first and then get the IP or at least understand if you have come up with anything worthwhile to research. Keep things close to the chest if it actually has potential. When I got into trading I was telling my buddy at Morgan Stanley about it. He told me same thing - if people running money have loosing month, they get money pulled or put on notice. I told him he's crazy and he doesn't understand how trading works. He said I was clueless
Good points. Honestly, I like the idea of trading my own account and answering to no one but myself. Of course if the right situation came along where I could trade more capital and enjoy some of the upside, I would consider it.
In psychology this phenomena is known as an anchor thinking or anchor effect. That's mean that the first point you say is a beginning destination for any person. So, if manager hears "around 110-140k", than he (he or she) will aim that number when offering you a sallary. I think it's a bad idea, as it makes it impossible for you to get more by dowing well. It's better to state relatively higher numbers, but mention that you're ready to discuss further.
How much do you need to be free? I want money. I always want more, and I have about 10-15 years to beat dest. https://sivers.org/richand
For example, days like today happen about 10-15 times a year. If you have enough margin, you can make around $30-40K on a margin of $100K. Do you have the patience to wait?
To be free, not much. To beat dest, that would not be a fair fight. For me. I don't need much money. How many Big Macs can I eat a day? Since I don't need a day job and no one to impress, I only need a couple of T-shirts, a couple of sweat pants, a couple of sneakers, a 15 years old Toyota Prius and a beach house on the sand in Newport Beach.
So then you are free. Not very hard to trade 3-4 times a month and achieve all you need for that. Assuming you are renting the beach house.