Anyone interested in managing an account
- Thread starter sussex
- Start date
Quote from canyonman00:
Hmm! Just a query here. You strike me as reasonable in your assessments. Let's work with a small number for discussion purposes, say $50,000. Based on 4% monthly you'd be looking for a return of $2,000 net. As a DD you'd be expecting no more than $2,500. I am assuming that the drawdown is per trading position. And you'd like the manager to not be paid until your net has been passed. And the plan is not for compounding as the monthly would be paid out monthly. In other words, the working/risk capital was $50,000 every month.
Would there be a ceiling on the managers cut if it were to agree on those terms? How about the manager got 90% of everything made above the desired net number if it was exceeded by more than 20%? Sort of a no surplus no pay plan.
Hello,
This sounds like an interesting deal - I personally have never heard of anything like it before. The one point regarding DD strikes me as a bit odd, per example, say the fund makes 5k in one month and losses 3k the next. With this case, the fund manager gets 90% of $2500 over "net" one month and nothing the next. Hence, the client would be at 50k + (2.5k + .1*2.5k) - 3k = 49.75k after such a stretch. To me, this is a poor deal since the effective cost of that 90% payout is much higher give a "normal" drawdown".
Mike
Ok, so our last piece of initial agreement would have to be on the overage amounts. What would you consider a fair premium for over-achievement? I think you'd need a gradient of some kind.
I love that one: the bind man's road to bankruptcy.
There is one here who stands above the rest,, the Hairdresser aka stktdr. He will lead your account to his promised land.
Can you manage someone else's money for a fee without a Series 65 License?
I've been wondering how this can be done? From what I understand, if payment is based on performance such as a percentage of assets under management, then you need to be an Investment Advisor with a Series 65 License.
Frank
I've been wondering how this can be done? From what I understand, if payment is based on performance such as a percentage of assets under management, then you need to be an Investment Advisor with a Series 65 License.
Frank
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www.randolphfutures.com
http://www.cta.visionlp.com/vlp_12012005_files/frame.htm
Past performance is not indicative of future results. Risk of loss exists when trading futures and options. Only risk capital should be used.