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2002 Not a Great Year for Hedge Funds According to consultants and academics, 2002 will go down as the worst year for hedge funds in almost a decade as slumping stock markets hurt performance and sparked a record number of closures, reports Bloomberg. A fifth of the 1,797 hedge funds tracked...

IB has great rates and TWS is great, but they most certainly do not have good customer service. I'd shudder to think what you must have endured in your 31 years.

Note the "and" at the end of item a. It is both. You have to register if the limits in either a or b are exceeded. Registration involves finger printing, taking the series 3, paying $100 per year for CFTC registration, and $1000 per year for NFA registration. One hint... Take your own...

Interesting. I had always heard this called the "semi-Sharpe ratio". Thanks for defining the Sortino ratio, Globaltrader.

Have you tried the e-minis? I found that the reduced slippage more than made up for the 5x commissions. What we really need is a large, electronically traded equity index. Can anyone say DAX?

As your account grows you want to make bigger trades and vice versa as your account shrinks. Fixed fractional is a little too aggressive, though. While you can stomach a 50% drawdown with a $10k account, you would really hate to see that with a $1m account. But Ryan Jones' fixed ratio is a...

Easiest way is for someone else to act as the custodian. Someone like Millenium or RIA. Is MTrust a custodian? They would be another alternative.

I switched to the mini-Dow for the day. It was a good work-around.

"How to Create & Manage a Hedge Fund: A Professional's Guide" by Stuart McCrary "How to Start Your Own Private Investment Partnership" by Geoffrey Fiszel and Randall Peteros

Speaking of hedge fund software... I'm not interested in software for setting up the hedge fund, but I am interested in software for doing hedge fund accounting -- calculating fees, allocating profits and losses, automatically emailing results to investors, doing K-1's, and financial...

It is difficult to find investors for a hedge fund. Your first investors are going to be friends, relatives, and former and current coworkers. Once you have about a year of results (and you are profitable, but that is assumed), you'll start getting high net worth individuals interested...

I've got a pen from the Marriott World Trade Center that I'm hanging on to as a keepsake. There are a bazillion movies that show the New York skyline with the twin towers. Every time I see them it makes me think.

Thanks, Max!

It took me by complete surprise that the Dax and Stoxx closed at 2pm CET today (Dec. 30th). I had gotten holiday schedules from a couple brokers and neither of them noted this. Did anyone else know about it? How did you find out about it? Even the Eurex calendar at www.eurexchange.com...

Max, Yes, I'm familiar with the Nikasil problem. The car I'm looking at had a complete engine replacement done at 60k miles. In fact it is now a 4.4 liter instead of the original 4.0 liter. That's great auction info! Thanks. Where did you get it? Is it publicly available? Were these...

Correct. You cannot contribute to a qualified retirement plan if all your income flows through Schedule D. To get around this you would need to elect mark-to-market or set up a business entity (LLC or corporation) and pay yourself a salary.

Ah, thanks, Nitro. I'll do these.

Thanks rtharp and niniTrdr. That's a good point about fuel, repairs, and insurance all going to cost more. Since I trade from home and don't commute anywhere, I really don't drive much. So the added fuel won't be a big expense. (Although I still need to find out whether the BMW requires...

Does anyone own own a BMW 5 series? How do you like it? My friend is offering me his 540i for $11.5k. It's a 1995 with 108k miles. It's got a fast V8 engine, but gets lousy gas mileage. I'm currently driving a 4 cylinder Neon, so it would be quite a change.

Oh, yeah. I was thinking futures with their 60/40 long term/short term split. Thanks.