hedge funds

[Dr. Zhivodka]

Quote from quickTRADER:




SO WHAT DOES THIS MEAN ? IF I AM INTERNET RUNNING I don't HAVE TO BE LICENSED RIGHT ?

Read it more closely mate.

It says that the SEC will now allow you to register with them (out of the goodness of their hearts, no doubt) instead of the state. But you still must register, with one or the other.

I imagine that the States will have something to say about this as they will most assuredly not be willing to give up their regulatory scope.

In other words this won't preclude the need to register as an RIA in states that require you to do so, like California and NewYork. Unless of course you meet the traditional exemptions, like the 25mil exemption.



Don't be fooled, this is a SEC power grab attempt pure and simple. The SEC is trying to grab regulatory power from the state.



Dr. Zhivodka

 

[MYDemaray]

marketsurfer,

I actually felt like BofA treated us fairly well even though we only had $1mm. However, if I had to do it again, I would take your route and go institutional arm of retail too. 5 cents a shares is ridiculous.

MYD

 

[TM_Direct]

What is a hedge fund????????


I think you need to clarify that before you proceed because the BOA and SEC version of a hedge fund is MUCH different then the Elite trader version of a hedge fund.....The rules and regs of the SEC pertain more to traditional Money Management...not daytrading client funds by multiple traders...although some of the rules still apply, it's a very grey area

 

[mdl060374]

Quote from marketsurfer:




that is awesome ! very cool.

surfer

that works! Toss darts at a board all day, and party your ass off.. my kind of firm

 

[marketsurfer]

Quote from TM_Direct:

What is a hedge fund????????

1.
I think you need to clarify that before you proceed because the BOA and SEC version of a hedge fund is MUCH different then the Elite trader version of a hedge fund.....T

2.

the rules and regs of the SEC pertain more to traditional Money Management...not daytrading client funds by multiple traders...although some of the rules still apply, it's a very grey area

1. not true

2. true


best,

surfer

 

[tfmoney]

not much 5k will get you started just do a search on google

 

[Trader Pete]

i found that you can accomplis the same goal (of trading other's money) by setting up an LLC to lease your trading to others for a fee. that way you dont have to go through all the red tape just to be called a hedge fund.

Pete

 

[jaming5002]

Quote from TKOtrader:

one thing you need to know is ........................ how to trade !!

Even before that, enough money to breakeven for a while. If your charging 1-2%, on 5 mil that's 50-100 G's a year, gross. Take out commissions, money for tech., news/data fees. Hopefully, you know a few people with some serious cash. But trade well, and the money will come.

 

[jaming5002]

Quote from Trader Pete:

i found that you can accomplis the same goal (of trading other's money) by setting up an LLC to lease your trading to others for a fee. that way you dont have to go through all the red tape just to be called a hedge fund.

Pete

Sounds like a good idea. If you go the more traditional route of L.P., I believe you can create an LLC to be the general partner. Limit's your risk.

 

[TKOtrader]

Quote from jaming5002:



Even before that, enough money to breakeven for a while. If your charging 1-2%, on 5 mil that's 50-100 G's a year, gross. Take out commissions, money for tech., news/data fees. Hopefully, you know a few people with some serious cash. But trade well, and the money will come.

5 mil profit ???????? :eek: :eek: