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The Fast Money guys (CNBC show) were talking about a 200-300 point drop in the Dow and 40 points off the S&P next week. They suggested taking profits on Monday but getting ready to buy the forthcoming dip. I don't put a lot of weight on what they say, but I'm not any better at forecasting...

What does that mean "went through the change into hybrid"?

Interesting. I'm just the reverse. I find it much more stressful managing OPM than my own. I don't mind taking losses in my account, it comes with the territory, but I seriously HATE having to report losses to my partners. When you trade OPM your reputation is on the line in a way an...

The Superfund is a registered fund with the SEC and not restricted by the Regulation D, Private Placement, rules against advertising. They also aren't limited to any specific number of investors as some hedge funds are, so they can accept lots of small investors with a low minimum. Aaron...

It is more common for futures funds than other types of hedge funds, but isn't standard practice by any means. Even among futures funds I'd say its in the minority. It gives the manager an incentive to churn. Schindler Trading, for example, gets no brokerage commission compensation. The...

Nice, Apex!

Interesting quote. Let's see, there are about 57 million square miles of land on earth, that's about 30 billion acres. Let's assume an average of, what, 2 birds per acre? It'll be really high in rain forests and low across Antarctica and the sahara. Just a guess. That's 60 billion birds...

In March, June, Sep, and Dec, the options and futures both settle in cash at the open of trading on the Friday of settlement. The CME calls the final settlement price the SOQ "special opening quotation" and specifics about it are on the CME website. For the other months (February included)...

USO is an unleverage oil play. So I believe it is just the NYMEX front month price * barrels per contract, divided by the USO price. Aaron Schindler Schindler Trading

SCI New York, What exactly are you looking for? A place to trade from? What are you looking for that you don't have trading from home over the internet?

Yes, from my understanding, if you have a TIN and if Switzerland has a tax treaty with the US that gives you reduced or no withholding on interest, then file a W8-BEN with the money manager to claim that benefit. If they don't then reduce your withholding, try to educate them, otherwise you...

We increase the HWM dollar for dollar with deposits, regardless of whether we are in a drawdown. In the language of our partnership agreement, the "loss carryforward" is unaffected by deposits and the HWM = balance - loss carryforward. In your example the HWM would go to $1,100,000 and the...

Thank you! You've got the correct $125 incentive fee for month 2 if that $500 withdrawal is at the end of month 2. But that's still the easy case again where you are making a withdrawal when you are at an equity peak. Try the same calculation but put the $500 withdrawal at the beginning of...

You don't say what country you are a resident of or what country you are a citizen of and whether you have a US social security number (SSN) or Tax ID number (TIN). But... If you have US TIN and if your country of residence has a tax treaty with the US that indicates a lower (or no)...

Exactly what I was thinking.

Looks good to me. The harder calculation is the highwater mark after a drawdown and then a withdrawal. Try that one... Aaron Schindler Schindler Trading

I can recommend Trade Depot by Technicom, Inc. Link: http://www.technicominc.com/ And, like you say, another alternative is Excel. If you are just looking to calculate returns and NAV's you should be able to calculate it in Excel pretty easily. If not, I recommend learning how...

I can't win! I drive my SUV around all day to increase the demand for oil and drive the price UP. But, no, instead my greenhouse gases just create global warming and we get a warm winter and lower heating demand and LOWER oil prices. Grrr! :)

I could go for a little rally in the oil market myself, Neet, but I'm not expecting much to happen with Hussein's hanging. There were the same worries when he was convicted, but nothing came of it. And even if a bunch of insurgents wanted to do something, what would they do that they haven't...

11 pages of quotes and we haven't gotten to my favorite yet: [approaching the New York Commodities Exchange] Louis Winthorpe III: Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. Nothing you have...