After reading some threads in this forum there seems to be disagreement as to the legitimacy of some of these firms. T3 is a good example as some say it is a hype scam and others say they are great traders making thousands of dollars per day with a great training program. So I thought "this should be easy to check" and proceeded to do an edgar search and read their Focus reports. the results are summarized below:
2012 2011 2010
revenue $15,122,514 revenue $16,843,690 revenue $82,100
expenses $10,878,659 expenses $11,750,781 expenses $220,002
net income $4,243,855 net income $5,092,909 net loss -$137,902
note that most of the expenses are classified as trading expense or in other words commissions most likely.
not exactly Goldman Sachs type numbers, especially if you consider that they have 300 "traders" or so. so for 2012, about 14 grand per trader.
Now maybe we can look further and see if the trading wizards that make up the Managing Member accounted for a large part of this profit.
so we see that there are three classes of members :
Class A -- which is basically all owned by the Managing Member, i.e. Mark sperling and co.
Class B -- which is made up of people chosen to be trading team leaders
Class C -- individual Traders
here are the P&L allocations for the three classes:
2012 2011 2010
Class A -- $669,940 LOSS Class A-- $998,785 LOSS Class A-- $185,674 LOSS
Class B -- $1,902.870 Class B-- $2,711,275 Class B-- $15,601 LOSS
Class C -- $3,010,925 Class C-- $3,380,419 Class C-- $63,373
Now maybe "the Natural" has his account outside T3, maybe not, but who ever is running up those losses in the Managing Members account needs to throw in the towel and stop trading immediately. Or maybe just try and sell more subscriptions, books , and training fees in the sister company to cover it.
2012 2011 2010
revenue $15,122,514 revenue $16,843,690 revenue $82,100
expenses $10,878,659 expenses $11,750,781 expenses $220,002
net income $4,243,855 net income $5,092,909 net loss -$137,902
note that most of the expenses are classified as trading expense or in other words commissions most likely.
not exactly Goldman Sachs type numbers, especially if you consider that they have 300 "traders" or so. so for 2012, about 14 grand per trader.
Now maybe we can look further and see if the trading wizards that make up the Managing Member accounted for a large part of this profit.
so we see that there are three classes of members :
Class A -- which is basically all owned by the Managing Member, i.e. Mark sperling and co.
Class B -- which is made up of people chosen to be trading team leaders
Class C -- individual Traders
here are the P&L allocations for the three classes:
2012 2011 2010
Class A -- $669,940 LOSS Class A-- $998,785 LOSS Class A-- $185,674 LOSS
Class B -- $1,902.870 Class B-- $2,711,275 Class B-- $15,601 LOSS
Class C -- $3,010,925 Class C-- $3,380,419 Class C-- $63,373
Now maybe "the Natural" has his account outside T3, maybe not, but who ever is running up those losses in the Managing Members account needs to throw in the towel and stop trading immediately. Or maybe just try and sell more subscriptions, books , and training fees in the sister company to cover it.