Do prop firms help build your name?

[cmb]

Oh ok, I don't really know much about Paraguay. I heard it was less taxes. But I have researched uruguay better. According to what I understood, they tax you, but only on income from uruguay. Money derived from brokers overseas would not be taxed. But maybe I'm wrong?

So I take it you are an American, do you have dual passports?

 

[trade4you_brazi]

Quote from cmb:

Oh ok, I don't really know much about Paraguay. I heard it was less taxes. But I have researched uruguay better. According to what I understood, they tax you, but only on income from uruguay. Money derived from brokers overseas would not be taxed. But maybe I'm wrong?

So I take it you are an American, do you have dual passports?

working on it. I submitted my naturalization paperwork more than a year ago, and I'm just waiting. Brazilians love waiting in line. It took me waiting 45 minutes in a bank the other day just to pay a bill. It took me almost 2 years to get my ID card.

Back to the Paraguay/Uruguay connection, this would be of ZERO benefit to a US Citizen. Why? Because as an American, you are always going to pay the higher of the 2 systems: where you live OR in the US. It's a very RAW deal and this is only exercised by the US. Besides that, we get none of the deductions that people in the US get. If you have a joint bank account, they expect you to hand over financial details of a non-American spouse. It's madness. I personally think it's out of spite for leaving the US. Maybe/hopefully they'll change it before I get my passport here. If not, Tchau tchau, adeus!

 

[dealmaker]

Quote from timcar:

More difficult to get your HF open today 2013

IF SETTING up a hedge fund were easy, more people would do it: bar inheritance or winning the lottery, there are few swifter paths to immense riches. Sadly for aspiring plutocrats, it is getting ever harder to launch a fund. Swaggering financiers once joked that launching with less than $1 billion of outside money to invest was hardly worth their time. Debuts that splashy are now notable only for their scarcity. A new fund typically opens with $50m-100m in assets under management. Even so, and despite buoyant stockmarkets, the number of launches is declining (see chart).

Punier funds make for a less attractive business model. A $50m pile might once have been enough to sustain a small firm. Creaming off 2% of assets and 20% of profits—the standard hedge-fund fee formula—could generate around $2m a year given decent performance. No longer. Declining fees and low industry-wide returns have halved that amount.

Regulatory environment is getting harder, fees are shrinking but if you have pedigree i.e. good college, started your career with an investment bank, a money center bank or a hedge fund and built a name for your self there is still an opportunity. Check out Finalternatives or HedgeWorld and you will see new hedge funds sprouting daily. If you are going to manage a small amount eg $10-20 million what's the point, you are better off opening an account on IB and be the designated trader much less headache.

 

[trade4you_brazi]

Will do. Thanks for the suggestions Dealmaker and the others. My hope was to get something based on my results so that I could look at the wife and say "We have to move back to the US (or Europe)". But I can't even consider moving back there without something better than I already have. I guess I was a little naive as to how things really work. Seems like everything is much more complicated. I can't really blame anyone for being apprehensive. When I really think about my past, and losing money holding onto stocks, I remember how difficult it can be.

So in the meantime, I'm just going to keep on trading. I'm going to apply to be evaluated at the major forex signals services. They, at least, send out promotional emails all the time. The top guys are most always listed. My current returns are already higher than some I've seen in the emails. Maybe some sort of opportunity in the US will pop up at a later date. Thanks everybody!