Giving away trading capital
- Thread starter Spectre2007
- Start date
Universities do not want money to have their students daytrading or create that kind of environment. Mock trading rooms are used for educational purposes or if there are portfolio management classes, it is mutual fund type of investing. I do not think you will get very far trying to set up a "hedge fund" type of operation with students. Universities want donated money to be around a long time and what you are telling them basically is that you want to give money for students with no experience or skill in trading to play with and most likely lose.
forget the University route, they are old school and will not take such risks with a donation. I have some experience in this area so I am not giving an opinion only.
Spectre - contact some local colleges and see where it goes. You won't know unless you ask.
The college I went to has a nice 'trading' class, but as coach said, it was more buy and hold based on fundamentals. That's not to say that a college would not welcome the idea of a hedge fund since they are the hot thing right now. You just need to find one professor that would get on board and then push it through. If you are funding it, it's just a matter of getting someone to agree with you.
The other option is to form some sort of trading company and hire interns for a 'job'. You don't need the college to do that, but it would help if they promote your biz to their students. There's some nice tax advantages of doing it this way too for you and the biz.
Good luck and I hope you keep us posted as I would like to know how this goes and what direction. Maybe you can lay the groundwork for the elitetrader.com internship program.
The college I went to has a nice 'trading' class, but as coach said, it was more buy and hold based on fundamentals. That's not to say that a college would not welcome the idea of a hedge fund since they are the hot thing right now. You just need to find one professor that would get on board and then push it through. If you are funding it, it's just a matter of getting someone to agree with you.
The other option is to form some sort of trading company and hire interns for a 'job'. You don't need the college to do that, but it would help if they promote your biz to their students. There's some nice tax advantages of doing it this way too for you and the biz.
Good luck and I hope you keep us posted as I would like to know how this goes and what direction. Maybe you can lay the groundwork for the elitetrader.com internship program.
You might consider hiring these back office managers to keep things in line.
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I did a little research into 501C3's and it turns out they are classified into private foundations and public. Private foundations can only disburse to other tax exempts or disburse thru competitive grants.
To individually select the individuals for disbursement, the foundation must be a "public" foundation. That definition comes from at least 25% of the foundation's support coming from public (as in widespread and not from the founding person/family/etc.) donations for an extended period, like 5 to 7 years.
I had another application for a similar process. If I missed a way for a private foundation to make distributions to individuals, I would appreciate illumination.
What movie is that???
By the way I think stoneinvestor is in college and in NYC, help him out. Although he only trades stocks I believe.
Good luck with the program. I do have couple of people in my college who would like to get in your program although, I dont know if they would win that much.
Regardless, you are doing a god thing, good luck.
By the way I think stoneinvestor is in college and in NYC, help him out. Although he only trades stocks I believe.
Good luck with the program. I do have couple of people in my college who would like to get in your program although, I dont know if they would win that much.
Regardless, you are doing a god thing, good luck.