From 30K to 1M in 1 Year!
- Thread starter qll
- Start date
Yeah...can we see a statement of his trades at least. Or his account balance.
Find it hard to believe that any trader that can create incredible returns would want anyone elses money or need it for that matter. Most only consider OPM when they are starting out ,now that I know I can make well above average returns I don't want or need to bring anyones money in the equation to do so....or want the potential baggage that comes with it...asking for money is most often a sign of someone who knows they are coming off a hot streak or a sign of someone who's tradng is hit and miss....caveat: trading others people money it is often much easier to be loosey goosey and take chances you might not take with your own funds on the line....I'd spend a bit more than 1 day getting to know a person before I would give them more than you would consider donating to your favorite charity.....
I just called his assistant last night. He had 5000,0000 RMB = $6M on May 30th, and 1,4000,0000 RMB on Jun 25th, so he officially broke the record made by Zan Danger. He had 2000 fold returns in 18 months. His lowest account balance is 7,000 in 2005/11.
Full trade record has been verified by several different agencies. (this has been reported by many news papers and TV stations) Most of his profit are from trading Warrants in China.
I can be meeting this guy with appointment. Currently he is creating his own hedge fund, according to his assistant. However, it is very difficult to set up in China. China has profit/capital gain tax on Business, taxed as income, but 0 capital gain tax on persons. The tradional set up was using personal account and sign an illegal contract stating the manager will take 20-30% cut, and will only at most 20-30% of his client money. More like IB's Friend and Familty advisor account. His manager said they wanted to set up a legal mutual fund, which requires 5,0000,0000 rmb. Their lowest investment required is incredible low, only 1,000,000. I was told they are contacted by investors, with 1,000,000 to 10,000,000 to invest, so they need at least 36 between 360 investors, which I believe are impossible to manage. It is much easier to manage only 5 investors.
Full trade record has been verified by several different agencies. (this has been reported by many news papers and TV stations) Most of his profit are from trading Warrants in China.
I can be meeting this guy with appointment. Currently he is creating his own hedge fund, according to his assistant. However, it is very difficult to set up in China. China has profit/capital gain tax on Business, taxed as income, but 0 capital gain tax on persons. The tradional set up was using personal account and sign an illegal contract stating the manager will take 20-30% cut, and will only at most 20-30% of his client money. More like IB's Friend and Familty advisor account. His manager said they wanted to set up a legal mutual fund, which requires 5,0000,0000 rmb. Their lowest investment required is incredible low, only 1,000,000. I was told they are contacted by investors, with 1,000,000 to 10,000,000 to invest, so they need at least 36 between 360 investors, which I believe are impossible to manage. It is much easier to manage only 5 investors.
"Past performance is no guarantee of future results"
Especially true when market conditions change.
Just ask Jesse Livermore.
that is not actual trade log. i have seen 4 people's trade logs so far. larry williams (in gif format), fairy in a book, and two of my friends.
here is the guy(from 30w rmb to 2500w in 16 months)'s early trades monthly.
2006/03
Ãýðô¿ö
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Ãóõ½á´æ: 201478.38 ¸¡¶¯Ã¯¿÷: -2250.00 ·çÃöÃ: 105%
±¾Ãôæá: 106484.00 ¿ÃȤèÃæ: 558866.53 ÷¼Ã±£Ã¤½ð: 29581.87
±¾ÃÃï¿÷: 313275.00 ±£Ã¤½ðüÃÃ: 588448.40 ½»ÃÃÃù±£Ã¤½ð: 527396.00
±¾ÃÃÃÃÃø·Ã: 60120.85 ÃÃú½ð: 0.00 »ù´¡±£Ã¤½ð: 0.00
ÃÃé½á´æ: 561116.53 ¿ÃÃÃÃýð: -29581.87 ±¾Ãý»Ã÷Ã: 0.00
2006/04
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Ãýðô¿ö
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Ãóõ½á´æ: 561116.53 ¸¡¶¯Ã¯¿÷: 36700.00 ·çÃöÃ: 103%
±¾Ãôæá: -118939.00 ¿ÃȤèÃæ: 991323.07 ÷¼Ã±£Ã¤½ð: 31949.93
±¾ÃÃï¿÷: 640820.00 ±£Ã¤½ðüÃÃ: 1023273.00 ½»ÃÃÃù±£Ã¤½ð: 711180.00
±¾ÃÃÃÃÃø·Ã: 128374.46 ÃÃú½ð: 0.00 »ù´¡±£Ã¤½ð: 0.00
ÃÃé½á´æ: 954623.07 ¿ÃÃÃÃýð: -31949.93 ±¾Ãý»Ã÷Ã: 0.00
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2006/05
Ãýðô¿ö
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Ãóõ½á´æ: 954623.07 ¸¡¶¯Ã¯¿÷: 54175.00 ·çÃöÃ: 64%
±¾Ãôæá: -300000.00 ¿ÃȤèÃæ: 2118009.56 ÷¼Ã±£Ã¤½ð: 0.00
±¾ÃÃï¿÷: 1556475.00 ±£Ã¤½ðüÃÃ: 1352043.50 ½»ÃÃÃù±£Ã¤½ð: 1221854.00
±¾ÃÃÃÃÃø·Ã: 147263.51 ÃÃú½ð: 0.00 »ù´¡±£Ã¤½ð: 0.00
ÃÃé½á´æ: 2063834.56 ¿ÃÃÃÃýð: 765966.06 ±¾Ãý»Ã÷Ã: 0.00
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i have the trade by trade logs, but they are too log to post.
I would want to see how he does when the Chinese market corrects substantially and doesn't bounce right back. If his draw down is substantially smaller than the market's correction then he might be good but going "all in" in a runaway market is just gambling. The lack of even the most rudimentary hedging instruments in the Chinese market would make me very nervous investing with a fund manager that takes an "all in" approach to allocation of funds, ie there is little if no risk/money management.