Well I'm smarter than you... There's expenses and risks in running a car lot, a store etc... and they don't hand out such crappy terms to hire you. They manage just fine supervising their employees. No, it doesn't make sense to charge for entry... I mean, it makes sense for Patak because they make money off of it but not for any trader. I wouldn't bother to run such an operation to begin with...
It is legitimate. I'm trying to make my opinion about Patak. How serious are they if they look at the last 20 days ONLY???
How is it legitimate to say that someone with a multi-billion dollar fund would EVER come to TsT for backing?
Most likely, you will fail the Combine repeatedly b/c you got the 20 day trial period. Donc, in essence you will probably rack up $5k in Combine fees eventually. So, you are essentially paying the annoying $5k deposit ultimately just in a different way. 20 days is too short and random. This like judging a NFL coach based on a 2 game sample. By this performance evaluation metric, Tom Coughlin of the NY Giants would have long been fired, possibly multiple times, and the Giants would have never won the 2 Super Bowls against one of the greatest teams in NFL history, NE Patriots, one of the greatest QBs in NFL history Tom Brady, and one of the greatest coaches in NFL history Bill BeliChick. (assuming the Patriots didn't cheat)
Forget Harding's AUM. Look at his results. Patak would not fund him, despite Harding being a definition of a success. As Steve said, 20 days too random. Patak must know it, but they still do it. WHY?
Because there are plenty of managers and traders who do good for awhile and then fail miserably for one reason or another. Paulson has been doing wonderful ever since making his big score on the housing crash, right?
Why? You mean you don't know...? It's because their business isn't really trading... Oh they trade...! But they stay in business from the money they make off of newbies who don't know any better. Let's not kid ourselves... The entire premise of these types of business models contradict themselves. "We're a trading business that provides you with capital but also charges you commission on our capital that you trade for us...!" "We have to hire you but really you're self employed...!" ...LOL... Yeah, right! Or my favorite... "With your deposit you become a business partner in the firm!" Haaaaaaa!!!! Haaaa!!!! Haaaaa!!!
This thread proves what ET has become. WTF are you guys even talking about? This was supposed to be a thread for TST and some of you just want to type and say look at me for the sake of it. There are now pages and pages of waste. Complete garbage that does not belong in this thread. Hopefully TST can get the mod's to delete the trash and get the thread back on track. Thankfully the exchanges do not require an IQ test in order to trade.