How much should i ask for,

tickmagnet · Jun 10, 2009

Friend of mine wants to invest with me , he is in Russia.Him
and his friends want to put money in for trading , mostly safe stuff. I asked for 50% of profits , he says 20%.
But if it's gonna be my account , I don't think that's enough.

what do you think?

Thanks.

TraderZones · Jun 10, 2009

Quote from tickmagnet:

Friend of mine wants to invest with me , he is in Russia.Him
and his friends want to put money in for trading , mostly safe stuff. I asked for 50% of profits , he says 20%.
But if it's gonna be my account , I don't think that's enough.

what do you think?

Thanks.

This sounds like a bad idea on the surface...

MandelbrotSet · Jun 10, 2009

Quote from TraderZones:

This sounds like a bad idea on the surface...

Agreeded.

But if you have to do it, your split should be more like 60/40.

Unit001 · Jun 10, 2009

and what happens when you lose money and your Russian friends comes to get your kidneys.

What then ?

acerbits · Jun 10, 2009

when ppl come on elitetrader to ask for professional advice you know it's probably bullshit.

pspr · Jun 10, 2009

Is this going to be in your name and you pay the taxes? Or will it be an account in your friend's name with you authorized to enter orders?

Last question. Is your friend in the Russian mafia or anything like that?

MandelbrotSet · Jun 10, 2009

Quote from Unit001:

and what happens when you lose money and your Russian friends comes to get your kidneys.

What then ?

Oye!

If it's like that, then run for the hills and never think of doing business with them again!!!##!?#! :eek:

tickmagnet · Jun 10, 2009

It's not BS , they have money and I've dealt with them before.
But they don't want to give me 50/50 split , they say like 80/20.
I helped them to open an account with OX , but problem is they don't want to pay taxes in Russia.

TraderZones · Jun 11, 2009

Quote from tickmagnet:

It's not BS ... but problem is they don't want to pay taxes in Russia.

Its not BS, but they are trying to evade taxes? And maybe you can help them do this? What kind of people do you classify as "friends?" The kind that might have Vladimir's tax people contacting you 2 years from now seeking evidence?

Again, VERY bad idea. You need to learn some basics about "common sense."

But your user ID is cool

nutmeg · Jun 11, 2009

I say give 'em what they want. Of course, you'll expect referrals from other Russian friends to invest, who'll refer other friends to invest, so on and so forth. I wouldn't really getting into the "trading" or "tax" issues with them (or anyone else for that matter).