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What we have here is a classic case of book smarts and no street smarts. This describes my sister. She went to a highly respected university, although not Ivy League. She graduated Magna Cum Laude but I doubt she could start a business selling matches to eskimos or condoms to college...

You bring up an interesting point. The day I really started learning was the day I graduated. Unfortunately, to get a job these days, short of working a production line or flipping burgers, requires a college degree. Without it the door simply doesn't open. You're degree can be from Bum Fuck...

Nail on the head. Everyone in a sport gets a trophy whether they win or not. When I played little league it was 1st, 2nd, and 3rd. There was no trophy for 4th, 5th, 6th, and 7th place. And people wonder why we have developed into an entitlement society. I've been coaching little league...

Ha! You're a couple years older than me but this describes me perfectly except I spent a little more time on homework than you. I remember taking the 6pm bus home because I spent so many hours in the computer lab writing code on those old Digital computers than ran off a tape drive in the back...

When I applied to college out of high school you actually had to have some kick ass grades to get accepted into a decent school and even then our counselors warned us that we may still not get in because there is always more applicants than there were open seats. Demand was fairly high, supply...

Enron's financial statements looked fairly good too. If you ever get the chance, watch the documentary on CNBC the next time it air. It's very interesting. There was on very bright analyst who asked Shilling a question about some number on the financial statements that just didn't seem right...

At exactly what level do these people work? CFO? Controller? CEO? Senior Internal Accounting Auditer? Please tell me they are executive level because if not they haven't a clue. NFLX is using the same kind of tricks that AOL used in the dot-com bubble. In a couple years this stock will...

When you're first starting up you need to save every penny you can. I worked on the taxes after hours and on the weekends. It didn't interfere with my trading and as a result I learned a great deal about taxation, which has grown into a very valuable skill.

Yeah, advertising is a big no-no. The best way to attract capital is through your broker. I know a guy at Infinity Futures who can put a hedge fund manager in touch with a guy who raises capital for hedge funds for a living. Naturally, that comes with a price. Another thing you can try is...

There is a way to get your hands on a high quality set of Private Placement Memorandums, Operating Agreements, and Subscription Agreements. You just have to know where to look. Depending on the instruments traded, taxes for a hedge fund aren't really that hard. Any accounting firm that...

If you have investors you can start an incubator fund for much less than this. When I started mine I paid a mere fraction of the costs you are mentioning. The audit was the most expensive part but even that can be completed for less than 10K. There is a lot of work you can do to make the...

Be careful with that. If you hold the Series 7 you are considered a professional and as such, things like data and platforms are far more costly compared to those who don't have the 7. The theory is since you have the 7 you are trading for other people so they increase the barriers to entry...

I would say so. Why would GS want to take money from a nickel and dime trader when they can take it from a guy with 25+K? The PDT rule ain't going anywhere. There's always futures. Thankfully the CFTC hasn't been swayed to institute such idiotic rules yet but seeing as GS is a heavy player...

The reason the SEC created this rule was so that sophisticated investors understood the risks of day trading as though having 25K or more makes you a sophisticated investor??? Put any businessman with 25k into the markets and have him day trade and the money will disappear quicker than kid...

No. Your accountant only needs your P/L for each account, which goes on Form 6781. Your P/L gets reported as one lump sum, not a trade by trade report like the equity side. I've had Schedule D-1's that were as thick as a book back in the old days. Since switching to futures and taking a long...

Have you been out shopping lately? What deflation? The Fed has successfully reinflated the balloon. The only question is when they stops pumping hot air into the balloon before it pops.

Not neccesarily. My old man travels a lot so he's on all the travel site frequently and his machine is LOADED with garbage. Can't say he's had a keylogger but plenty of trojans and I know for a fact he ain't visiting no porn. He's not computer savvy enough to know how to erase his history.

I have found Spybot to pretty much useless. Malwarebytes is ok but not that good. One free program I like is SuperAntiSpyware. It consistently finds things the other two miss. I use the free edition but I'm considering upgrading to the full version...

Price floors and ceiling on individual stocks? Now that's a novel idea. The US markets become less and less free as the days click by. How sad.

What downside? It's up, up, and away!