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There is an amazing story in T. Boon Pickens book about when he started his hedge fund. He started with something like 40 million and lost all but a few million. Then the next year, he plunged in Nat Gas and Ran that few million up to 250 million or so, then over the next few years took...

Even the token coins that we use have been debased over time: http://www.usmint.gov/about_the_mint/fun_facts/?flash=yes&action=fun_facts2 The penny is now only 2.5% copper.

I saw a speech he gave were he claimed that is accuracy rate on trades was 30%. He is a trend follower who develops rationalizations for whatever direction prices are breaking out in. I guess he sometimes goes contra-trend, likely because he knows "predicting" a trend change (if his call...

NeoCons do not call all the shots, however their cultural and political influence is very substantial. Yep, those of us who believe it is important to be skeptical of the powerful who send average joe to die and be maimed for their pet causes refuse to give up. However if history is any...

What amuses me is the notion that a 250K income makes one wealthy. In a country where the truly wealthy have passive incomes that are an order of magnitude (or much more) greater than this... It demonstrates to me that the "wealthy" are in fact not the target. In fact the "wealthy" love...

One needs to be exceedingly careful when evaluating information about the Iran Situation. Unfortunately (and like most wars which typically convince average Joe's to die for a cause that is not their own), most of what we read is pro-war lies and propaganda. Unfortunately the same NeoCon...

Most people who rent apartments are 1 paycheck away from broke and have a negative net worth. This is true even for those with relatively high incomes. Given this context undue scrutiny given to a trader who has a proven cash reserve and a wife with a stable job just seems to reflect a...

Ask for proof they have a healthy cushion of cash in low risk things like a savings account. Most traders do.

I think you are on the right track. Do well by one investor with a smaller amount and you will be in a position to grow. Too many without the experience want to start too large and consequently are never able to get started.

It was a giant stop loss order run. No other explanation is needed. it happens every day in many markets, just not on this scale. I hypothesize that the ultra low rates have over incentivized leveraged traders, particularly institutions, who use stop loss order type selling/hedging on a...

I think if you consider friends and family for investors you have to assess them just as if they were a random individual investor, ie they must meet the same criteria. Accepting them as clients when the fit is not right, leaning on them for funds when it is not appropriate for their...

Hours traded is not the same as liquidity, which is what is critical for managing things like margin calls.

That is a strong statement. If you want to hold yourself out to the public (for example post results at the reporting services) you need to be a CTA or CPO regardless of how many clients or assets you have. The numbers thrown around on startup costs are in my opinion out of line for...

"I think we should go back to only allowing land owners vote. And make them pass a basic test on civics/economics/the Constitution." I agree.

Is not just about money. It is lifetime prestige and the gateway entrance into the new overclass. Top jobs in federal government departments, The right legal clerkships that guarantee a career, the glamor industries like entertainment, the top editorial jobs, Wall Street Access. In...

the ivy portfolio notion was annihilated in 2008 along with the other yale-harvard endowment-consultant copycats

Play around with this, perhaps a such a product would meet his needs. http://www.brkdirect.com/spia/EZquote.asp

was a guy named Madoff that promised something similar. A "safe" 8% real return with low volatility is not possible, unfortunately. ...But if u do find it please let us know.

Then you run into the problem where after 3-5 years, a manager with a great record will have grown assets to the extent the forward returns will not be wonderful. They diversify, become more conservative, start new managed account types (and shut the ones that do badly). etc. Personally...

"This is all done internally, and you will not be able to game it. Compare the spread volume to the futures volume - that factor combined with the fact that the market order books are stacked with one and two lots makes it an untenable strategy. " Bone this is something I do not understand...