Can "Joe Retail" switch to the big time?

Quote from nursebee:

Is this pipe dream possible? What do I need to do to better make myself more attractive for this now or in the future?
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The short answer is "no". The long answer is "with your returns, why would you need to work for someone else?".
 
Quote from nursebee:

Why?
I like doing this. It is quite boring.
I'd love to help some friends and all of my family.
I'd love to earn a lot of money.
I like doing the research, would enjoy talking with others that search for the next great thing.
It would be neat to have other doors open to me through such endeavors.
Because I'd love to butt heads with Cramer on TV.
Because I think I would add value to some entity.
Because 2/20 or anything like it on my recent returns is taking my dreams to the next level.
Because I have met all the goals I set for my life years ago and it is time for some new ones. Why not swing huge?
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Think how many friends you will have left if you end up losing their money, especially if your friends do not have market experience.
Nothing wrong with dreaming big, raise money from investors not friends....
 
Quote from nursebee:


I would like to entertain the idea of managing investments in some capacity. I fantasize of some large highly capitalized outfit recruiting me, paying me well to assist them, trade for them, do research for them, perhaps even while at home. Other ideas: mutual fund company, hedge fund, friends and family fund, or private individual.

I have no business background or pedigree.

Is this pipe dream possible? What do I need to do to better make myself more attractive for this now or in the future?

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1...just go and start knocking on doors.
2...learn from what they tell you when they laugh and scoff and say 700% - WTF. You need to have slick answers for exactly how you did this. Doors dont open automatically. Like trading its a numbers game.
3...ask others who work at the firm - would they prefer to be working at the firm or for them selves,....
4....go back to step 1 (and if you cant do this then buying more of the Robbins videos wont help)
 
Start with CTA exemption (aka "Friends & Family account) and see if this business suits you. Doesn't require to be licensed and is a good at least for start-up/evaluation.
 
Before you can manage other peoples capital you need to be able to manage your own. Get to the stage where you are continuously making $100.000 in annual profit for a couple of years. Then you may be experienced enough to take on OPM.
 
Quote from nursebee:

"... Is this pipe dream possible? What do I need to do to better make myself more attractive for this now or in the future?

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When you have done well enough, long enough and with big enough money, you won't need to ask such questions... the marketplace will find you. IOW... doesn't matter how high a percentage you made if the money is small.

I have personal experience on this. Years ago when I'd had success and approached people who "could do me some good with their money and influence"... said, "that's great, but you're a nobody". It wasn't until I'd become a "possible somebody" in the money management world that people gave me serious consideration.

The transition from "financial nobody" to "financial somebody" is not easily or quickly-done.
 
Scat , were you not a mutual fund manager that won a national competition against some big swinging dicks in the 90's?
There are indeed some people the OP can get advice from here.
 
Quote from eurusdzn:

Scat , were you not a mutual fund manager that won a national competition against some big swinging dicks in the 90's?
There are indeed some people the OP can get advice from here.
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Not quite. I ran a self-started mutual fund timing service. I don't think any of us were in the the BSD category... more like "just got out of the cold pool, frightened turtle" class. At peak I had $60-some MM under management.

When I first started out, there weren't that many of us. But as the concept of fund timing grew, we collectively got too large for the fund managers to accommodate gracefully... and little-by-little they told us all to "go pound sand".

And yes I did win the $500K mutual fund division of the US Investing Championships in 1994, thanks for remembering. I also won mutual funds "overall" and $500K overall... though those weren't official entry categories.

If I'd been in NY, worked for a big financial firm or had rich friends, I might have become a BSD for a while... but I was in a 1-horse town out on the plains. (Denver has grown up to a 2-horse town, but I got claustrophobia and moved to another 1-horse-er.)
 
Quote from Scataphagos:

Not quite. I ran a self-started mutual fund timing service. I don't think any of us were in the the BSD category... more like "just got out of the cold pool, frightened turtle" class. At peak I had $60-some MM under management.

When I first started out, there weren't that many of us. But as the concept of fund timing grew, we collectively got too large for the fund managers to accommodate gracefully... and little-by-little they told us all to "go pound sand".

And yes I did win the $500K mutual fund division of the US Investing Championships in 1994, thanks for remembering. I also won mutual funds "overall" and $500K overall... though those weren't official entry categories.

If I'd been in NY, worked for a big financial firm or had rich friends, I might have become a BSD for a while... but I was in a 1-horse town out on the plains. (Denver has grown up to a 2-horse town, but I got claustrophobia and moved to another 1-horse-er.)
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Hahaha. You just blew up OP's troll attempt.

Also, it's always nice to hear success stories. Congrats.
 
Quote from Scataphagos:

Not quite. I ran a self-started mutual fund timing service. I don't think any of us were in the the BSD category... more like "just got out of the cold pool, frightened turtle" class. At peak I had $60-some MM under management.

When I first started out, there weren't that many of us. But as the concept of fund timing grew, we collectively got too large for the fund managers to accommodate gracefully... and little-by-little they told us all to "go pound sand".

And yes I did win the $500K mutual fund division of the US Investing Championships in 1994, thanks for remembering. I also won mutual funds "overall" and $500K overall... though those weren't official entry categories.

If I'd been in NY, worked for a big financial firm or had rich friends, I might have become a BSD for a while... but I was in a 1-horse town out on the plains. (Denver has grown up to a 2-horse town, but I got claustrophobia and moved to another 1-horse-er.)
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Were you the one in one of the Market Wizard books? I seem to recall a fund timer, buying at the close before the daily NAV posted...
 
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