Starting/Working for a Hedge Fund

they are reputable in so far that they know how to keep you legal.

however, they have zero standing in the hedgefund community. these "turn every daytrader into a hedge fund" mass marketers will not cut the mustard when real DD is done on your fund. You need to use known, respected names if you are serious about this endeavour. Yes, it takes more than returns, everyone has good returns otherwise they wouldnt be thinking of the fund business, RIGHT???

HLJ:D
 
To: Profittaker

"All my professors in college went on and on about the Random Walk Theory and I rejected it. My trading career took off once I accepted it. Statistics explain randomness."

It is really amazing. After reading this i see that I have been following this theory without even knowing about it.
I am a newbie and been live trading just for 3 weeks and 2 months of demo trading before this. I assumed that my style must be able to make money in any market conditions and my goal was to make money either when market goes in my direction or against me. I have been able to do so. Does not matter when and where I open positions, I am not doing extensive market research. I am not making technical or fundamental. I check a couple of indicators and when see an opportunity I open position and use money managment, emotional control and avoiding running with the crowd to make money.
I want to go prop/ institutional and trade for someone. Thus although I am capable of making very high returned, I actually stop trading the moment I make 0.5-0.7% a day. So that I have balance between risk and reward. It is understandable that rich guys looking for good returns with reasonably low risk and I want to deliver these expectations.
My goal is to become professional trader, but now I am trading my own micro account from home.
As of now, I have about 1 % of losing trades out of about 500 I have made in 3 weeks. I have no one to compare my results to, but I guess my success trades ratio must be ok.
 
Quote from highlifejoker:

they are reputable in so far that they know how to keep you legal.

however, they have zero standing in the hedgefund community. these "turn every daytrader into a hedge fund" mass marketers will not cut the mustard when real DD is done on your fund. You need to use known, respected names if you are serious about this endeavour. Yes, it takes more than returns, everyone has good returns otherwise they wouldnt be thinking of the fund business, RIGHT???

HLJ:D
More...

I find this quote to be so that of an industry player not a person who knows what their customers want.

I meet with a group of investors every week to discuss these sorts of things as well as life in general (A sort of boys club you could say), and we all say the same thing when it comes to legal and accounting firms, find a small specialised firm that can do the job without having to be holden to the authorities for their every move. which is what every large respected firm has to do, especially in the US and every other onshore country now.
Most investors that are compentant do not care where the fund was setup and by whom as long as when the DD is done it all stacks up.
The rubber stamp from the Larger respected firm means less to some, as the work was more then likely done by the juniors in the firm and then rubber stamped by the senior partners offsider, having gone nowhere near a senior partner or experienced person in the field.

I am finding the larger respect firms are more about fees rather then quaility of work. but you can choose who ever you like it is a free world we live in.
 
PTF,
Keep it up, good to see someone that has just gone out and made it happen.

Don't let these industry type's get to you, they are more envyous of you then anything else.

keep up the good work.

hope all goes well for you.
 
Hi,

I am day trading stocks and doing very well. thank you

But I to would love to manage a relatively small sum of O.P.M.

I want to do everything legit and giv ethe customer as much peace of mind as possible.

So how do I obtain real audited results that actually mean something?

I see there is a clause about setting up a Hedge fund in that if you trade for less than 15 people you do not have to register? Or is it $400,000?

I am thinking of trying to get upto $1million. As long as I am open and honest about how I do it and I will continue to try and do it....there's no problem right? There's so much "red tape" these days I am sure I will run into some kind of problem.
 
Quote from wildkactus:

I find this quote to be so that of an industry player not a person who knows what their customers want.

I meet with a group of investors every week to discuss these sorts of things as well as life in general (A sort of boys club you could say), and we all say the same thing when it comes to legal and accounting firms, find a small specialised firm that can do the job without having to be holden to the authorities for their every move. which is what every large respected firm has to do, especially in the US and every other onshore country now.
Most investors that are compentant do not care where the fund was setup and by whom as long as when the DD is done it all stacks up.
The rubber stamp from the Larger respected firm means less to some, as the work was more then likely done by the juniors in the firm and then rubber stamped by the senior partners offsider, having gone nowhere near a senior partner or experienced person in the field.

I am finding the larger respect firms are more about fees rather then quaility of work. but you can choose who ever you like it is a free world we live in.
More...

why wouldn't you want the fund you invest in to use firms that are "holden" to the authorities?? You must be a very trusting soul with your capital. No, I am not from the standard industry, we operate in smaller, capacity constrained areas that the hedge fund industry, as a whole, can't access or it falls outside of their strategy, etc.

Well, i can't speak for your experience, but suffice to say any "real" hedge fund investor will insist on name legal, auditors, and administrators. It doesn't matter who actually does the work, its the reputation of the firm that is being bought. These firms can't be bribed or manipulated like the smaller firms can be and are--people who invest for a living understand this and are aware of the chicanery that occurs. however, i do deal with a ultra-high net worth clientele, some invested in over 100 hedge funds, and not the local dentist with a few million to invest. theh millionaire next door types are simply not sophisticated enough to know or care.

regards,

H!L!J!
 
and not the local dentist with a few million to invest. theh millionaire next door types are simply not sophisticated enough to know or care.

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As I only want to manage about $1 million this will do me :-)
 
Quote from chipmunk:

and not the local dentist with a few million to invest. theh millionaire next door types are simply not sophisticated enough to know or care.

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As I only want to manage about $1 million this will do me :-)
More...


:D


yes, you will be fine.

good luck!

HLJ
 
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