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I don't know how important it is that you have a good FCM execution desks... there are a lot of independent execution brokerage firms out there that will execute trades for you and just charge a give-up. You can even get that with IB, as long as you have around $10mm AUM.

Hi, Just curious, any other CTAs/CPOs solicited by Pentagon Funds recently? I suspect they just bought a database and mass-spammed everyone. Seems like a pretty bad deal, not sure if anyone else has a different take on it. They claim to be launching a fund of funds, until you read...

95%+ of those who make it into med school will make $150k+ a year after residency, with some specialists making $500k-$1.5mm a year... not filthy rich money, but certainly better than most traders.

We started dating while she was an undergrad. Med school not too conducive to social life unfortunately...

I don't think Bayesian pattern recognition is really a "new" field/technology... it's been used in various fields for decades, and I'm sure the low-hanging fruit in finance was snatched up long ago. I will say, my impression is that this is what RenTech does. I think this is a more...

My wife is a second year resident. I think our careers complement each other very well... she should have steady (if not spectacular) income for life, while I can swing for the fences without too much concern. In other words... since you probably can't have both careers, make sure you marry...

I guess we're really in different worlds! Are you paying insanely high commissions? I'm paying (all-in) around $3.60/RT. If you're paying 5-7% of profits at a comparable commission level... then your average trade profit is only about $50-60 per contract?

Yea each of my trades is only 2-5 contracts... We are literally talking 100-300 trades a day. Major pain in the butt for every additional account. My FCM should love me, right?

Yes and no? I *am* open to it (and have proper registration @ NFA), but only at a pretty obscene level: $5 million+. For what I'm doing with my automated trading, I decided anything smaller just doesn't justify the paperwork. I'm trading... 12000 RT a month with my $4.5mm in AUM. Trying to...

RKCO never told me to keep the quote to myself, and I've actually talked about it before on this site. I'm paying $25k/yr for audit and tax... but there was an additional charge for state filings that we didn't realize would be required.

You know, I don't want to get into tax advice... I only know enough to get myself in trouble. Bottom line, section 1256 results (marked to market) end up on this form: http://www.irs.gov/pub/irs-pdf/f6781.pdf

I'm too small to pay a % of assets... they'd go broke. ;) I pay a fixed fee, although some unexpected surcharges were added on the last billing cycle at the end of the year.

Note that CPOs (and in fact, all limited partnerships) must be audited annually, and offer an audited financial report to their investors. But yes, I've also heard of managers falsifying audits. My auditor (Rothstein Kass) actually locks the .pdf file of the completed report + auditor...

My management company's returns pass-thru as section 1256 60/40 income.. not exactly capital gains. And yes, re-investment of fees doesn't affect tax status. Note that because futures are always marked to market anyways... this is different from the private equity (and other hedge fund)...

Epic, Interesting point. Are CTA fees taxed as regular income? Not even 60/40 treatment? You are correct though that CPO fees are taxed according to nature of underlying income, so 60/40 treatment.

I'd have to think Chicago. http://www.nytimes.com/2008/02/29/business/worldbusiness/29iht-29trader.10564592.html

MF Global wheat trader, 2 years ago.

Dogs and cats living together. Mass hysteria.

I've notices the same. Heating oil has also been moving more correlated with Brent than WTI. Sorry, don't have an explanation for you... although I could always speculate. Perhaps transporting refined products is easier than raw crude? And of course refineries are often built for...

Right. I own quite a bit of gold... I look forward to owning the US several times over.