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Generally... One hires a law firm to form a ** flow through ** Limited Partnership or equivalent... So one manages the pooled funds of all the Limited Partners. The LP files a tax return... but pays no taxes. All profits/losses flow through to the Limited Partners or equivalent... And...

You have to start with basic Canadian Securities Law. Since the OSC kicked Southwest Securities out of Ontario around 2002... It is clearly the law that an Ontario resident can only open an acount with a member of the IDA... So all US firms must create a Canadian subsidiary (since about...

SIPC only applies to US stock brokerage accounts. I had a Refco retail account at the time of the bankrupcy... And received 100% of my money. It was never an issue... because Customer account money is segregated by law. The institutions and people that lost everything like Jim Rogers...

People with "Friends and Familiy" accounts do not have "customers"... And cannot deal with the public... For that you need full registration. To start... It is a good idea to remember than IB USA and IB Canada are SEPARATE companies in DIFFERENT sovereign counties... And IB CANADA is...

Never underestimate the number of idiots passing themselves off as "traders"... And do not take anyone seriously... Unless they can provide several years of ** Audited ** Financial Statements.

In Ontario... If you are going to reach out to the ** public **... And manage money on behalf of public Customers... Then there is NO WAY around becoming a Portfolio Manager. And I say "becoming"... Because it requires a 3 year apprenticeship... which means... YOU must convince an...

Here's an Amazon review: 27 of 28 people found the following review helpful: Great content, great writing!, December 26, 2002 Reviewer: A reader I have been trading for 8 years. 6 years prop trading, I now run a hedge fund. We make about 10,000 trades/day. I wish I had read this book...

Evolve or die.

You clearly miss the point of the FIRST post and book. It's hardly an "investopedia" for mook wannabees that a broker would ever give away... But rather a serious reference work on a scholarly level... About the inner workings of the financial markets... That could ONLY benefit an already...

Last I checked... US debt was AAA rated. Pretty much eveything else lower... and riskier. The people setting Debt Ratings are genius-level, objective, and ruthless... And know more about this than all of you put together times 1000... Or else their product would have no value... In an **...

This poll is mathematically illiterate and nonsensical. Junk like this clutters up ET all the time... and reinforces false beliefs. The potential or possible return... Depends ENTIRELY on the level of risk one is willing to assume.

I don't have to read another Chicken Little paper by a guy who's never left the Campus... Because business is war... not some theoretical textbook sh*t. In the 70s... the Saudis were gonna own all of America using oil revenues... In the 80s... the Japanese were gonna take over the US using...

We are talking about the Al Qaeda Master Plan... small nuke in Manhattan. But you are right... that is not a problem... Because there is a copy of everything "under some mountain in Nevada". Personally, I have moved all of my firm's assets from New York... to another country... Because...

Actually... I would agree with Mvic about Wall Street being extremely vulnerable: (1) Many Wall Street firms are not nearly as technologically advanced as people think... In fact, many are still running mainframes with software coded in the 80s. Everybody here thinks in terms of...

For a small quant firm like mine... 2,000,000 shares/month... 95% NYSE Listed and 5% AMEX Listed... Where IB "unbundled" rate might be roughly $0.0033/share... (Could be lower, but I have multiple accounts, etc)... This seems like a big positive. If I'm doing the math correctly...

Another "genius" who knows just enough high school math... To blow his brains out... and waste everyone's time. No "money management" technique can "make money"... Rather it can ONLY optimize an underlyng profitable strategy.

The Specialist can charge commission on Limit Order in book after 5 minutes. It's a big one... like 0.005/share. To avoid it... Firms like IB use routing algorithms to shuffle limit orders at 4:50 to an ECN... And then shuffle it back based on various conditions... Like if it's NBBO, etc...

This would be a Big Deal... where is this documented?

To each his own... But speed/bottlenecks can be major issues in complex real-time systems... And finding useful code on the web gets things done... Plus a Ruby system presents serious long-term maintenance problems. Great if one values programming more than trading... Otherwise... A...

Here's another way to check your Java version: http://www.javatester.org/version.html