See:Quote from Epic:
AFAIK, if you start the fund structure from day one and don't intend to use prior personal performance to market it, then such a disclosure of all prior trading history isn't required.
Quote from heech:
I'm usually not this opinionated on this site... but seriously: you're making stuff up. NONE of this is true... I cared enough about this latest claim to actually poll my securities attorney on the question, and she laughed.
I challenge you to find cases where fund managers are being prosecuted (criminally!?!?) simply for using simulated/personal trading account records in marketing material. Or testimony from professional experts supporting the claim that trading a personal/simulated account is different from trading a hedge fund account, to the point where it is de facto "misrepresentation".
If you are legitimately using the same methods/strategy, if you clearly disclose the difference between prop/fund trading numbers, you are absolutely fine. ABSOLUTELY.
Quote from heech:
See:
http://www.nfa.futures.org/nfa-compliance/publication-library/disclosure-document-guide.pdf
Page 36, specifically. You must disclose your past performance history, until you have 3 years of operating history for the fund itself.
This is the case for all registered commodity pools. Some (very shady) pools intentionally seek the QEP-only exemption from registration with the NFA, precisely because they want to avoid this requirement.
Quote from marketsurfer:
I wouldn't be so sure about this---- if so, its an outlier.
Someone won 50 million with a $1.00 lottery ticket also.
surf
Like I said, I try not to get opinionated on here... I try to skip the arguments and ego-fights. But there are clearly a lot of people trying to make serious career/life decisions on the basis of what they read on this forum. And unfortunately, finding good legal advice can be expensive.Quote from Epic:
Alright, you win. You are absolutely 100% correct. Not trying to start a fight. Also, not worth it for me to take the time to back up the statements of others. I also wasn't claiming that there has been expert testimony, only that it would be easy to get, as that is the prevailing opinion in the industry (that managing a fund and trading a personal account are different). A word of caution is just a word of caution.
Didn't mean to get you all fired up.
Quote from heech:
Like I said, I try not to get opinionated on here... I try to skip the arguments and ego-fights. But there are clearly a lot of people trying to make serious career/life decisions on the basis of what they read on this forum. And unfortunately, finding good legal advice can be expensive.
So, I think it's extremely important to be clear on the facts, and be equally clear when we're just speculating.
Quote from lazar206:
MONTHLY UPDATE APRIL 30
� Personal account values as of today�s close was $711,869. The account value in the beginning of the 2011 was 569k, a profit of 143k year to date which is around 25.1% return year to date. Below I have also included the monthly results since I started this thread.
Value as of,
Today April 30 -$711,869.00
March 31 -$645,827.00
February 28 -$616,668.00
End of 2010 -$569K.
� Incubator hedge fund: April was the first month of trading for the fund, and the values as of today�s close are $107,030 which is a $4,000 profit for the 1st month. (The total amount includes the 100k initial deposit plus the 3k monthly deposit.)
� April was an extremely good month for almost all of my strategies and probably for most investors. Anything from fixed income, domestic & international stocks, short volatility, bonds, and precious metals went up up up..(By the way I do fully expect to see a bubble burst when it comes to �silver� not very far from now.) I hope to have a longer post in the next couple of days discussing strategy and performance of the last month, and some strategy changes I might start to initiate in the upcoming months.
Looking forward for your comments and advice.
Quote from lazar206:
MONTHLY UPDATE APRIL 30
⢠Personal account values as of todayâs close was $711,869. The account value in the beginning of the 2011 was 569k, a profit of 143k year to date which is around 25.1% return year to date. Below I have also included the monthly results since I started this thread.
Value as of,
Today April 30 -$711,869.00
March 31 -$645,827.00
February 28 -$616,668.00
End of 2010 -$569K.
⢠Incubator hedge fund: April was the first month of trading for the fund, and the values as of todayâs close are $107,030 which is a $4,000 profit for the 1st month. (The total amount includes the 100k initial deposit plus the 3k monthly deposit.)
⢠April was an extremely good month for almost all of my strategies and probably for most investors. Anything from fixed income, domestic & international stocks, short volatility, bonds, and precious metals went up up up..(By the way I do fully expect to see a bubble burst when it comes to âsilverâ not very far from now.) I hope to have a longer post in the next couple of days discussing strategy and performance of the last month, and some strategy changes I might start to initiate in the upcoming months.
Looking forward for your comments and advice.