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Just sort of got an answer. NFA contact stated that her understanding is that it is gross contributions only, and does not account for net gains/profits. She said that it would otherwise make reference to a maximum NAV of less than $400K. But a disclaimer said that they are not allowed to...

True enough. As a classical independent I'm disappointed. If I were a liberal democrat I would be furious. Indeed, If I were a democrat, he would go down in history as the biggest flop ever.

Manager and Senior Manager of the disclosure documents department.

Some 8 years ago I was attending a seminar for a local orthopedic surgeon. He is world renowned for minimally invasive knee, hip, and shoulder replacements. Anyway, he was touting a new titanium appliance intended to replace standard disk fusing practices. Worked similar to the way a...

Tried.. no answer yet.

That's funny. While attending a university virology course, the question was asked, "How did HIV jump from other primates to humans?" The answer was short and to the point. Professor: "You've heard the story of the lonely sheep herder haven't you?" LOL, maybe that isn't the prevailing...

Yeah, that is a valid point, but the way I look at it is that the regulations are there to protect investors from fraud. If the fund had less than 15 investors and had grown from $400K to many millions, then I would have a hard time making a case against it regarding fraud. How is the NFA...

Hmmm... Interesting... They should really change the phrasing on that statement then. IMO

Was asked a question regarding 4.13(a)(2) exempt CPO, a.k.a Small Pool Exemption. The NFA statement is: Total gross capital contributions in all pools operated or intended to be operated do not in the aggregate exceed $400,000 The question was whether that means total AUM of less than...

Ditto. My intent wasn't to speculate. Rather I was attempting to convey words of caution that have been expressed by industry professionals. But I should note that much of what a lawyer or CPA does is to speculate. The law can be very subjective and is up to the personal whims of the judge...

Arguing the same point here.

Alright, you win. You are absolutely 100% correct. Not trying to start a fight. Also, not worth it for me to take the time to back up the statements of others. I also wasn't claiming that there has been expert testimony, only that it would be easy to get, as that is the prevailing opinion in...

Trump is #153 in America on the Forbe's list at $2.4B

AFAIK, if you start the fund structure from day one and don't intend to use prior personal performance to market it, then such a disclosure of all prior trading history isn't required.

Actually, if you read the article, he is suggesting that you NOT go the direction of getting the audits. Maybe fraud is the wrong term. Misrepresentation might be better, and there have been court cases based on this. It is very easy for the prosecution to get professional experts to...

You are talking a completely different issue than I am. You seem to be suggesting that investors don't care whether it is personal performance or fund performance. I completely agree. They don't care at all, until you lose money. Then their lawyers care, and the courts really care...

Someone should point out that while the above statements are true, there is large risk in starting an HF using personal performance. If you end up in court, it has basically been held that promoting an organized entity with personal historic returns is fraudulent and misleading. You are almost...

That's pretty funny stuff until you start to remember building BMX racetracks on tailing piles from the federally operated uranium mills (Manhatten Project) around your grandparents' house. Who, with many of their neighbors, died from cancer at the ripe age of 55-65. I don't make radiation...

"The alright wall of China!"

Isn't that sorta like saying... "On the other hand, it points to a certain intellectual weakness amid physicists, given that their leading intellectual is a patent clerk who has been dead for almost 55 years."