Based on my experience, I have to respectfully disagree with you. Successful traders and investors understand that the goal is risk vs reward, not just the magnitude of the reward. There is no better risk / reward ratio than managing accounts “OPM”, or licensing a trading strategy because there is profit potential without any downside risk.
However, that said, too many users of your system can degrade performance for all of your investors including your own investment in the strategy. So, there is a balance between trading your own strategy and licensing it to clients.
Greg
