"formal education" sometimes helps to end up working on Wall St. for major IBs... If you do your research, you will see that most (not all) major successful funds are run by people with such background. That's how they tend to establish their name and client base so they can go and raise money on thier own later...
Hedge Funds
- Thread starter FXsKaLpEr
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"formal education" sometimes helps to end up working on Wall St. for major IBs... If you do your research, you will see that most (not all) major successful funds are run by people with such background. That's how they tend to establish their name and client base so they can go and raise money on thier own later...
I am not saying you are wrong about that.
but, ultimately, it is those who can trade better who get the money to trade.
If someone has a Harvard Business School with high distinction - a Baker Scholar (top 5% of class) for instance, and has a Harvard Law School degree as part of the JD/MBA program, and magna cum laude from Princeton majoring in Economics.
With a history focused on investment management, finance, and securities law. Having received the John Loeb Award (awarded to the top four students in finance) and Sheridan Logan Fellowship (awarded to one Baker Scholar) at Harvard Business School, and makes 40% a year...
compared to someone else, who is a high-school drop out, but can trade currencies proficiently and competently, and produce 75% a year, the smartest will money go to the later.
In my particular case, I'd define myself as a "risk-adverse" money manager.
So, my objective if I ran public money would be to return 10 to 12 percent yearly (after fees) to investors, with lower risk trading methods.
If more money goes to guys who can make higher returns, fine.
I'll happily be a participant in tapping the $100t dollar asset base along with the top traders in the world.
I look at the prospects in view of the long haul.
"compared to someone else, who is a high-school drop out, but can trade currencies proficiently and competently, and produce 75% a year, the smartest will money go to the later."
Am I correct to assume that would be you?
Well, I have to disagree somewhat... 75% vs. 40%?
40% may win based on the risk and volatility profile... there is a variety of factors that institutional investors would look at... the sharpe ratio would be one of them...
Am I correct to assume that would be you?
Well, I have to disagree somewhat... 75% vs. 40%?
40% may win based on the risk and volatility profile... there is a variety of factors that institutional investors would look at... the sharpe ratio would be one of them...
that's already presumed.Quote from hedgeyourbets:
"compared to someone else, who is a high-school drop out, but can trade currencies proficiently and competently, and produce 75% a year, the smartest will money go to the later."
Am I correct to assume that would be you?
Well, I have to disagree somewhat... 75% vs. 40%?
40% may win based on the risk and volatility profile... there is a variety of factors that institutional investors would look at... the sharpe ratio would be one of them...
It is based on directly-comparable factors across the board.
duh
fxscalper,
I don't mind you think you are or are the best FX trader around,
thats great, that is what makes people great. that is what makes human fly around mars for no reason.
Although if you want to be great, setup a track record with a paid account and you will be great.
$10k account with a track record speaks a lot.
Take this to a prop firm and they will fund you.
I don't mind you think you are or are the best FX trader around,
thats great, that is what makes people great. that is what makes human fly around mars for no reason.
Although if you want to be great, setup a track record with a paid account and you will be great.
$10k account with a track record speaks a lot.
Take this to a prop firm and they will fund you.
Unfortunatly you really need both Sam. You can have a great return with high consitancy and low drawdowns, a great sharpe ratio etc and if you don't have the education it's a huge pain in the ass to get funds. Many of the big players will not even talk to you. Been there, done that.
Brandon
many of the "big players" may not have a choice, as their @$$es continue to get handed to them on a silver platter by college boy PhD quants whose HFs blow up higher than Kelsey's nuts.
(read LTCM-type managers and just about all the other funds who managers were pedigreed idiots.)
be that as it may, I could care less about who won't chase me down to have me trade money for them, I'll have a hard enough time keeping people away who do want to invest.
and if they don't want to invest, who the hell needs 'em. they can jam their "professionally managed" net 5%/year losses up their ***.
all in how you look at it, sonny.
I got forex trading systems and outside sources on money coming in that, in time, when combined will put me at a net worth about 10-times more than the top 10 banks have in assets altogether.
people will be lucky if I piss on their money.
fk 'em.
Holy mackerel, I'd go with the geek, seems more trustworthy than a high-school dropout. Not to mention he probably gathered a plethora of valuable personal and business contacts throughout his life which would generally mean more stability than the other dude. What hedgeyourbets said is absolutely true, the vast majority of hedge fund managers started on wall street gathering experience and contacts so once they start their fund, they have the reputation to raise some capital.
Your problem is that you keep comparing yourself to a hedge fund, when hedge fund managers trade very different to the way you do. You don't know how to manage money like a hedge fund, you don't understand the stratagies they use because they aren't really available to retail investors. So where do you go to learn these stratagies? Wall Street of course, and that's where that formel education will come in handy.
ohhhh, give me a FKN break!
I got all my trading experience and education thru blood and pain, sucker.
I don't need to know no one. I trade the forex.
Wall Street can kiss my @$$. and all the idiots associated with it.
I don't need them.
I'll fkn BUY Wallstreet with my pocket change!
then kick all the paper-shufflers out on the street.
you don't quite understand, ForEx rules this world of money and all the people in it.
skz