a half Billion fund with so low revenue?

I only joined LS in July of 2016. With that said, I think PTS bought Sterling Trader and Lightspeed around the same time. PTS is a technology company. PTS just bought LVX . I never met Steve. He left right before I was hired.

Bob
 
not close friend, just classmate many years ago. he has high ego. so i never approach him with questions that may make him feel not so great.
 
Chuck Krug said:
To answer your second question:
Most set-ups are like this:
You have XXX Fund: This holds the investments. For instance the investors own shares in this.
You have XXX Fund Advisors: This is the investment manager's vehicle and charges for example 2/20 to the fund. This company employs personnel, buys research, rents offices. Mostly owned by 1 or more partners that make the actual investment decisions for the fund.
More...
what you mean is that the fund asset does not sit on my friend's account, the managers of fund advisor trade through investor's account?
 
No, the assets never sit in the manager's account.
Most common setup is that a fund is formed in which the asset sit (there's a custodian that takes care of this)
Another possible setup is that the investors (mostly institutional ones) open their own accounts, and the fund manager has 'trading access' to the accounts. For this asset management he will charge fees.
 
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