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IMHO, a finacial advisor poistion is essentially a type of sales position, dealing with finances of course. The CFA will qualify you to be an institutional analyst. Two different things. Think about what you want, and then pursue that.

If you have three taxable accounts, one of which you use for trading and two which you use for long-term investing, can you elect MTM on only the one trading account and use the more favorable long-rerm capital gains rules for the other two accounts?

I have not gone the hedge fund route -- at least so far -- but I do not see the need to use a prime broker if you have $1MM lined up and that is all you need to start. I too like the idea of starting small and growing organically. Prime brokers could have alot of value if you want to start a...

I believe the IRS wants to match the figures reported to them by the broker and the figures reported by you. If your borker reports only one figure (total proceeds), you should also report the same figure. In other words, I would not break it up. If the IRS does not see a match, you will be...

I used TurboTax together with TradeLog last year. For my trading account, I used TradeLog to create a document that itemized the trades and then attached that to my Sched D. On Sched D, I entered one figure for "cost basis" and one figure for "sales price". On TurboTax, I handwrote a...

The FTC's complaint: http://www.ftc.gov/os/2001/03/tcic_cmp.pdf

I am not an attorney, nor do I manage money at the moment, but this is my understanding: If you manage equities as a traditional equity manager, and if you receive compensation, you must register with your state if the state requires it. Some states, like Florida, seem to be more lenient...

As I remember, Frankie Joe was the subject of a cover story interview in Barrons in the mid- to late-1980s. You might be able to find it in a library.

Page down at http://www.interactivebrokers.com/cgi-pub/exchange_display_web.pl?einfo=usCME2&file=GLOBEX.html The E7 and J7 contracts are the mini contracts. You probably want the standard EUR and JPY contracts.

From page 19 of the 10-Q for the perioed ending 3/31/04, which can be found at www.sec.gov: "Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued) Realized Investment Gains (Continued) After-tax realized gains also...

I'll be watching IFN -- the India Fund.

Thanks for the insights!

Certain exchanges prohibit orders on both sides of the market. AMEX prohibits it. A number of options exchanges (all?) prohibit it.

Cutten - great quote. Thanks for reminding us of that gem.... "I have stated before that whenever your worst fears are not realized about a trade and the market is letting you out better than you expected, it is not just good luck. Rather, your position is most likely correct and should not...

debt is not a problem, until it is a problem. debt could suddenly become a problem due to a surprise -- like a perfect storm. higher interest rates, causing a higher debt service burden, could easily be a contributing factor. my questions are: 1) How can we position ourselves as traders...

This clip below was copied from TradeStation's recent quarterly earnings release. The other publicly traded brokerage firms likely provide similar information; some may provide more detail. (Revenue per account is commissions, etc., to TradeStation.) "TradeStation's Average Equities...

alanm, this might be what you are looking for: http://www.irs.gov/pub/irs-pdf/i1099b.pdf

For $100 per month, the NYSE sells information called "Post & Panel Locations", which, the NYSE says, is "available at approximately 5:30 am each trading day. The file contains Symbol, Company Name, CUSIP, Specialist information and the Post and Panel locations for all NYSE stocks." You can...

Good points. Thanks for the insight!

For a trader that does 1000s of short-term trades per year, does very few long-term trades, and does not have a tax-loss carryforward, what is the downside of electing mark-to-market? Do traders have experiences which led them to conclude that electing MTM was beneficial or harmful to...