"Interesting — whats your beef with Sharpe?" No beef with any metric. Sharpe doesn't help much in allocating capital amongst traders- It does not do a great job of measuring a performance metric where leverage and derivates are involved- Hail Mary trades and this is a constant concern- Have to look at the whole firm- Rarely meet an applicant with a good Sharpe, who can explain why as opposed to how to measure- Doesn't highlight potential stars and compensate them accordingly- Doesn't lessen the costs of over sight- Tells me who you were and may not give me a good idea of who are now that you are trading firm money-
OPM means an outside investor. They have a specific need and if you provide that need and your returns and risk are appropriate for that need, they will invest in you. It's like selling cars. You don't sell a Ferrari to a pig farmer. He wants a pickup truck.