Would you let McMillan control your money?

Discussion in 'Options' started by Eliot Hosewater, Jun 22, 2006.

  1. I see on his website http://www.optionstrategist.com that he has both managed accounts and a volatility arbitrage fund for qualified investors. I'm trying to get performance numbers on the arb fund but haven't been successful so far. It seems the managed account does covered calls.
  2. Do you mean instead of learning to trade yourself?

    or in addition to your own trading as a means of diversification.

  3. Why? If you trust him well enough, and his performance is adequate, then why not let him handle the options part of the portfolio?

    I'm actually more interested in his volatility arbitrage fund, which is beyond what I want to get into. Is it true that if you don't fsck it up that arb can be risk free? I've heard that before. I assume it means that if you don't have a profit locked in then don't do the trade.

    I'm diversified in bonds, emerging international markets (which aren't exactly emerging these days), and other stuff. Not too much in US equities at the moment.
  4. WD40


    this guy knows his theory and wrote a couple of good books on the subject, but I don't know if he can trade for a living.

    RedOptions had him run a strategy for a few months, but quickly withdrew his service. I don't think the results were good, thus the decision.
  5. You can find the performance details on his hedge fund if you know where to look.....
  6. I registered at the website http://www.hardelcapital.com
    and got a username and password, but it won't let me log in.

    You know of another place to look?
  7. Call 'em up!

    Hedge Fund

    McMillan Analysis Corporation
    is the Portfolio Manager
    for the Hardel Volatility Arbitrage Fund

    This is a 3(c)(7) fund.

    For further information, please visit www.hardelcapital.com
    or contact:
    Brian Toelle
    Managing Partner
    Hardel Capital Management
    715 824 2700
  8. Nevermind. I found it. Not too impressive, I think I'll pass. Plus, with the $1M minimum I wouldn't have much left to lose on my own :) .

    BTW, I guess I have a different idea about arbitrage than they do. I thought it was a sure deal for profit, like buy/sell the S&P and sell/buy the individual stock only when there is a difference. Sounds like they are making volatility bets, that IV and real volatility are different and 'should' converge.
  9. If an expert like Macmillan can't make money trading options, who can? I am curious what skills is he lacking? Directional reading on the market, maybe?

    Thanks for any thoughts on this.
  10. no.

    i saw the guy at an expo and was totally disapointed.

    now, the thinkswim guys--totally different story--very impressive!

    #10     Jun 23, 2006