Starting a public fund

[destriero]

Yeah, but it doesn't work that way on the buy-side. There's an implicit figure involved ($5MM minimum allocation) as Robert stated as you're meeting your draw at $800K above your starting figure. It's a sunk-cost for them.

You cannot ask people to move to a new city and carry the risk. The principals aren't AirBNB... you're responsible for feeding yourself, shelter, etc.

 

[srinir]

Yeah, but it doesn't work that way on the buy-side. There's an implicit figure involved ($5MM minimum allocation) as Robert stated as you're meeting your draw at $800K above your starting figure. It's a sunk-cost for them.

You cannot ask people to move to a new city and carry the risk. The principals aren't AirBNB... you're responsible for feeding yourself, shelter, etc.

What is the VaR limit or any other risk requirement?

 

[destriero]

What is the VaR limit or any other risk requirement?

It depends on the strategy. You can trade anything that's liquid, other than FX. No net-short tails or anything like that, but the swaps trader has a $300K daily variance. You're going to hear from one of the principals if you're down 5%. Risk is capped to 12%.

The only thing they will balk at is babysitting shit. Any strategy that trades by appointment... requires an edge on microstructure, etc. This is not a high-frequency shop and no MMing models. IOW, only strategies that are marketable (lifting offers). Obviously you're going to trade inside NBBO, of course.

 

[Robert Morse]

destriero,

You might want to PM sle. He know traders in that space.

 

[destriero]

destriero,

You might want to PM sle. He know traders in that space.

I know sle; don't want to bother him as it's a direct-compete.

 

[Kevin Schmit]

We're looking for a few people with legit experience, ...$120K draw against 15% payout.... 5mm minimum allocation

That's an incredibly generous offer.

You might be fishing in the wrong pond though.

If any applicants are still trading for you in a year you should let us know, as my low opinion of ET'ers in general is something I'd like to be proved wrong about.

Good luck!

 

[Palindrome]

What about FX futures? 6a, 6b, 6e, 6j

That's a portion of what I trade.

 

[El OchoCinco]

Hmmm living in Dallas does bring me closer to my Cowboys ....

 

[silveredge]

No, we're not paying for your Bloomberg. You'd have a cube in Dallas with a BBG and comms. Remote guys would need to sell that hard and have suitable comms and redundancy.

Good offer. Just doubt many people in this forum have what needed

 

[schweiz]

Good offer. Just doubt many people in this forum have what needed

And those who can will probably prefer to trade own money and keep all the profits.
I received two offers in past, but twice refused and never regretted it.
I keep 100% instead of 15%. So even trading a size 6 times smaller will make me more money then trading for a 15% commission.