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Yea, I was trained never to put 10c or more on a ticket. Instead, Secondary offerings were a great way to pay the broker. Especially if you had a good call into Syndicate and an offshore account ;).

It's funny how I was happy to pay 6c per share back then and now i pay .00065 per share (yup, 65c per thousand). Times sure change!

Thanks Ebo, could have used all the relationships I could get back then. I didn't want to be so bold as to state the obvious (as you did at the end of your post). Suffice it to say that I made a lot of guys rich and put a few $$ in my own pocket at the same time. A good time was had by all...

If the stock didn't bounce right away then I'd hit the bid, take my losses, and hound my broker for a significant chunk of the next IPO to make it up to me. Capice?

In my younger days I would have had a call at Merrill telling me 'exactly' when the seller was done and i'd have bought the last 100k shares from him. Too bad for time gone by...:(

Thanks for the info on Prop. FX. I can understand why they stopped backing traders with their own capital pretty quick (i guess I missed my chance to short them and take a quick profit). Anway, I will be in NYC on Fri. The WSJ would be coming more as a casual observer not really as sanctioned...

I just had a look at their website and I think I answered my own question. Obviously, you put up the capital. Deal no good no way. Best, Neal.

Hey Dave, Who backs the losses? If they do, I say run (don't walk) and take that deal! It's better than any hedge fund in the game (as you know we only make 20%) and the banks only pay around 10% of profits to traders. Of course, you'd want to iron out how much line you can drawdown before...

With all due respect to some of my friends on this post, this thread is full of misinformation. Prop. forex is not pushed by major 'prop' firms simply because the juice is not there for them. In other words, it's tough to make money as a prop. house in Forex. Typically (in fact in all cases I've...

Shhhhhh....don't tell anyone, Silver is in a nice steady uptrend. Better get on board before the train leaves the station...:0)

Looking for people's opinions on best trades to make as of today. Obviously, this will be different depending upon individual holding period. I'm looking for significant moves over the intermediate term (1 week-1 month or longer). Currently I believe my best trades to be Long Aud/Usd and Long...

Appreciate your comments Old Trader. Well said and informative. Thanks. Neal.

I agree 100%. I've been trading most developed markets for almost 15 years now and I believe that the only market that I am a net loser in is the S&P. In contrast, I believe that $/Yen is probably the easiest most trendy market of all the major markets. I am going to remember your point the next...

Thank you for the support Turlo. However, those are old articles. For those looking for more recent information, you can see Euromoney Magazine November 2003, 4-page feature story on our Fund entitled, Hedge Fund Manager Survives Mutual Fund Fallout, or this month's Alternative Fund Services...

Hi Uptik, I'm sorry if you feel that the ball got dropped. Honestly, at this point, I don't remember where we stood. I am still here, the Fund is doing better than ever and we have hired more prop. traders for the other business. The name change was due to a trademark infringement with...

Occasionally, but I would say very rarely. If they do, it's typically somebody who has been an ex-CEO or very senior executive of a major corporation in that industry or a formerly famous analyst who wants to work from home or retire. Sorry, I'd love to work from home too! All the best..Neal.

Thanks Mike. I appreciate the kind words. Fund is doing great. All the best..Neal.

You're welcome wackojacko. Yes, all of the positions are currently in New York. Thanks. Neal.

Yes, slammajamma, I am extremely busy. That's why I'm still in the office now at 10:20 PM which is almost an everynight occurance. I am most involved in my multi-strat. hedge fund, Apogee Capital Partners, L.P. www.apogeehedge.com. Best, Neal.

wackojacko, you are certainly entitled to ask any question that you have or be skeptical as long as you are respectful. Frankly, it seems as if either I was unclear about the situation I offered or you don't know much about the industry. First, I know 100s of hedge funds looking to hire money...