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Thanks for the response. Just a quick follow up. Do all CTA's investors need to be accredited? (200K single, 300K married couple income, 1 million in net worth) If not I think there is a tremendous universe of investors looking to gain exposure to "alternative asset classes" but are shut out...

This is one of the most informed threads I have seen in a while. I have a question for those of you out there running money. All else being equal, do you feel it is easier to raise funds structured as a CTA or a hedge fund? I know, I might be comparing apples and oranges here, but these...

Actually, Swenson ranks in the 99th percentile of institutional investors. The returns made by the Yale endowment over the past 20 years have been nothing short of phenomenal. How many posters on ET have made a 16% return per annualized over 20 years?

Hmmm.. Price is an accounting/auditing firm?!?! Its as far from entrepreneurial as one can possibly get. They don't do M&A, except in Transaction Services where they support investment bankers who actually do M&A.

Things may be a bit different in Canada or the UK than they are here in the states. In any case, why not start off in the right place rather than having to work to erase the "back-office" stigma? You have a lot of options right after college, so if you know you want to trade (not just make...

Maybe I am missing something critical here, but what difference does it make? If I borrow from the prop firms, it is a capital charge. It I borrow from a retail account, it is a margin rate/debit rate/cost of capital? Both these rates are in the same ballpark.

Maverick74 quoted about .50 basis points over the current broker call rate, currently 6.00%. Fed funds is at 4.5%, so we are talking around in the 6.25- 6.5% range cost of capital at most places? That is not much different from what you could obtain in a retail account. That being the case...

I'll have to echo what others have said. Stay the heck away from Operations. The back office has a taint on it that is difficult/near impossible to erase. If you talk to people who not familiar with Wall Street, they will advise you to take the job because it is with a prestigious firm...

Where did you go to business school? After attending a top program and being heavily involved in MBA recruiting I know a little bit about the subject. I have countless anecdotal examples eg. classmates making significant career changes, to disprove you notion. I am not sure what you are...

This is completely 100% untrue. I went to a top 20 B-school and many of my classmates were ex-military, non-profit, teachers, etc. and ended up with six figure packages in Management Consulting or Investment Banking. In some case, they quadrupled their income prior to coming into b-school...

Ideally, I am looking for the two (the actual historical data and the software) combined in one easy to use package. Was wondering if this is out there. If there are no easier options, I will try what you suggest. The compustat database from S&P has all the data points I would possibly...

I was wondering what brokers and/or software packages are best to backtest strategies based on fundamentals. Specifically, I taking about valuation metrics such as P/E, Price/Sales, Price/Book, Earnings Momentum, etc. etc. To put an extra wrinkle in it, I want to go back as far in time as...

Prior to business school, I worked in investment management in a bunch of dead-end portfolio accounting and operations jobs. No way to make it to the front-office,with that back-office taint on you. I went to top b-school full-time to escape this horrific dead end, and unfortunately my...

I have my 65, CFA Level II, and an MBA in Finance. I have thought about taking this route... I am assuming you are referring to independent investment advisory firms. My issue with this is you are more of a salesman, than a money manager. You are paid to hold the clients hand, not manage...

I didn't hear it anywhere, I lived it. My perspective is from Investment Banking, and not the Sales and Trading side. That being said, what I've observed is that Banks hire based on school and/or connections, not those who have the most passion for the markets or most knowledge of the markets...

Pimpin ain't EZ but its necessary... Chasing bitches like Tom chasing Jerry

Fidelity Magellan is an example of a extremely large fund with POOR performance. Hence, an example of bigger not necessarily being better. Didn't think I would have to explain, that one, lol.

I am always amused by this logic. Of course you don't need an MBA to do the job, but you often times do need the pedigree to get the job. Same thing goes for Ivy League schools. Why do Wall Street firms hire Art History majors from Princeton over Finance undergrads from state school...

An emerging manager is searching for a VERY special type of client: smart enough to recognize the benefits of investing with CTAs / hedgefunds / absolutereturn managers, but at the same time, dumb enough not to realize that there are many other well established, successful, long-track-record...

Has anyone had experience doing this? What brokers do you recommend? Do the returns need to be audited by a independent CPA firm? It it advisable to set up an RIA - Registered Investment Advisor, first? How much in assets under management is required to be credible to attract outside...