54% return -- looking for an internship

Just my two cents: I have to agree with Fishsauce on this one.

Looking at your website.
The scalar direction (i.e. no magnitude) of your fund is very very close the S&P 500. In other words, The direction of your fund is close to the direction of the S&p 500. Thus one would expect a very high r-squared. Your r-squared is 0.19! That's absurd.

There is NO variant of calculating alphas! I used to work for Eaton Vance and Fidelity: there's only one alpha: MPT alpha. No matter how you calculate it ... the number should be similar. Dont you agree? And as Fish wrote: MSN money's database is way way more reliable. And their number differs fomr Marketocracy by 3 folds! (3x)

Goodluck with you endeavor. Jobs and interns opportunites are rare in this day and age. I wish I can setup you up with an interview or two. But I cant as I have no leverage a this point.
 
Quote from trader99:



MBA is the minimum requirement for most portfolio manager jobs and most jobs on Wall St. And now, even phds are min requirement for certain types of quant trading.

Whether that kind of education actually help you trade or not is QUESTIONABLE at best. But he has to go for what the market(job market) demands.

It's all about credibility.
More...

Good point

So why is he on a trading site and not sending out resumes? Keeps talking about his fund.
 
I sent my resume to Bank of America, Stifel, Edward Jones, Legg Mason......, many, many. Only got first interview form Edward Jones. I also got first interview from other companies, like Meadjohnson, Cisco, and USbank. None of them offered me a job.

I think my largest problem is wordy. I was afraid of being misunderstood, so that I just talked too much. Before I realize this problem, I had already missed some opportunities. :(

Thank you for interested in my fund.
 
I learned something from Wetfeet.com, talking about the asset management. Someone enters this industry as analyst, researcher, or trader. In my cover letter, I was looking for trader or analyst job.

Another weakness is I know few American asset management companies. I can't find them through Google.

I also heard that generally buy-side employs people from sell-side. People without sell-side experience are difficult to find a job in buy-side.

and so on, so on.

Waste time and no outcome.
 
It is hard to get a job with such a track record. It is not long enough, and to be honest it is only: A fund with a low beta turned a fund with a high beta; meaning there is a possibility that all you did was make two trading decisions--buying a few shares when you started the fund, and buying some more later--and didn't have much logic behind them. Just pure luck wrt the timing. I'm not saying that it is--just that an objective observer would think so.

Also, they are right--it is just paper trading.

http://www.marketocracy.com/cgi-bin...undPublicPage/source=KdKlDmPpDmFmPiBbMaKiAbBj
 
I have made 120 transactions. Anyway, you are right. They will never bother to look at my transaction records, even if I print them out. I have no advantage to differentiate myself from others.

FishSauce:

Do you want my transaction record? I download it from Marketocracy.
 
No need to show your transaction records....

You're pretty credible. Fishsauce would agree.

I think he was more intrigued at your methodology than you credibility.
 
Quote from luojun:

I have made 120 transactions. Anyway, you are right. They will never bother to look at my transaction records, even if I print them out. I have no advantage to differentiate myself from others.

FishSauce:

Do you want my transaction record? I download it from Marketocracy.
More...

Luojun,

I congratulate you on your nice performance, but I would also like to point out that your portfolio only started to take off right around the middle of march, the same time this recent bull rally started. I will also assume that the vast majority of your trades have also been on the long side.

If you look at your own charts you can see that your performance is very correlated with overall market performance. Your gains have outsized the index moves, but you could have gotten the same performance by just buying some index call options.

This isn't to say that you won't do well in a bearish or sideways market, but its something to keep in mind.
 
I don't think I can do well in bear. If my boss wants me to make profit in bear, he'd better fire me. :) I say if I work for a mutual fund.

If it's hedge fund, or other companies which allow financial tools other than stocks, it's another story.

But now, I am not good at options trading. It's very volatile. I lost $100 on my real money trading. I think, one factor is I don't have good software to see and follow the prices, another factor is these derivatives are still new to me. I need more practise and hand-on experience. Also I need good advices from those successful investors (speculators?). I don't know whether Buffet have bought or sold derivatives, but Lynch haven't. Long term investment? I only know this name, but I heard they go bankrupt a few years ago.

I think FishSauce is still curious about my alpha. :)
 
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