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Why not just start a fund? I don't get what the purpose of having a prop firm is. Your costs will be insane and to what ends? Even if you start a fund you will have costs but if it's just you and a couple of guys and you are not marketing yourself to the public, you can keep your admin costs...

I can't think of a worse business model to invest in at the moment. The reason why we went from 100's of prop firms down to like 5 is not because it's so damn lucrative right? I use to run a regional office for a prop firm in Chicago. It's a very bad business model because there are no...

You have to back out the 10% a year the market gives you for simply buying and holding. Once you do that, you have the same zero expected return as commodities. Put another way, the E(alpha) for all markets including stocks is zero.

Gypsies? LOL. The islands have the greatest concentration of thieves in the world. You should have moved to Costa Rica. A 100 times better.

Why on God's green earth would you move to the islands with kids? The public schools down there are abysmal and the private ones are insanely expensive. Are you running from the law? Honest question. It seems that what the islands attract, people running away from their problems. I bet they...

I wish it was that easy. It's not. You are talking about "living there". Not using it as a bachelor pad. That means the wife, the kids, the dog, your life possessions, etc. You can not just "fly away" like Peter Pan. I rather live in South Central LA with electricity than on an island with...

I can't think of a worse place in the world to trade from. Combining the uncertainty of trading with the uncertainty of weather. Not just bad weather, but weather that can take your power out for weeks. Puerto Rico is still without power in many parts and that storm was a year ago!

I have a $4.00 tgt by early next year. Buy the dips.

You might be over complicating this. I try to stay neutral in my trading in general. So if get too long or too short, I look to lay off risk somewhere. That's what allows me to lever up. Copper and natty are not a good fit but let's say copper is strong and FB is weak. I'm not necessarily...

Almost all assets are tied together somehow. I'm always desperate to find anything that is not correlated to growth rates, those are unicorns. Right now the only thing I can find is bitcoin. Everything else is tied to GDP or interest rates in one form or another. Gold~interest rates...

https://www.msn.com/pt-br/video/estilodevida/how-to-play-dollar80-oil/vp-AAxLwz6 Great interview.

I don't see prices going back down. We might see a parabolic move in commodities that has not been seen in decades.

Well, in theory, trade protectionism would make it even more inflationary. I suspect when commodities go parabolic those tarrifs will come off fast. In fact, I could see China f*cking us hard by buying up all the raw commodities all over the world (which they are already doing) and letting us...

Late credit cycle is the most bullish time for commodities. It's the phase where start seeing a real squeeze on input prices. It comes from the tightness in the labor market and the peak in GDP. I'm VERY long commodities so I'm AM talking my book. Take a look at copper today. Long that as well.

This is a great read and relevant to this thread.

Great article.

I live in TX. I along with 7 other US states pay ZERO state income taxes. I would guess the most popular state for trading tax wise is FL which is also a zero tax state. The real benefit of the LLC is not the actual tax rate which is lowered through deductions, but the ability to carry...

A few things here. You are including both federal and state income taxes from the HIGHEST tax state in the country. Two, anyone making 500k a year, whether they be stocks or derivatives is going to have an LLC which allows them to cut their taxes substantially. I have no idea why you are...

These are the 2018 bins for a single income filer with no deductions: 12% $9,525 22% $38,700 24% $82,500 32% $157,500 35% $200,000 37% $500,000

For anyone trading futures, options on futures, FX or bitcoin, they get the 60/40. For stocks they don't. Stock traders make up a VERY small portion of the US trading population for many reasons I won't go into here. Regarding your 38.9% rate. So no. We have a progressive tax system in this...