Tudor suspends withdrawal

[Daal]

Quote from marketsurfer:

SAC charges 50% performance fees and his customers seem happy...

surf

a handpicked sample size of 1 out of 9000 doesnt justify this bubble structure that will be probably gone for decades

 

[intradaybill]

Quote from Daal:

a handpicked sample size of 1 out of 9000 doesnt justify this bubble structure that will be probably gone for decades

selection bias....

 

[crgarcia]

Quote from bidask:

only 12% of the fund is facing withdrawals and he needs to halt redemptions?

this shows that the -5% return ytd is highly suspect. i am certain that 95% of institutions generate their "smooth" returns by buying illiquid securities so that they can mark their own pnls at the end of each month.

Maybe:

A. He invested in illiquid securities.
B. He doesn't want bad numbers on his track record.
C. He lost big and he's hiding losses
D. He stole the money.

I'll go for C or D

 

[zdreg]

Quote from marketsurfer:

SAC charges 50% performance fees and his customers seem happy...

surf [/QUOTe
is your response a serious one? u found an example maybe. you extrapolated. they are happy because of performance or because they can brag they dated stevie cohen. his performance is exemplary and rare.

surf you have an obvious bias or you would not have responded with an exception.

it is quite comfortable for many people to hang out with a "guru. if it doesn't work out they have an excuse: i had the best.. of course it is only in the minds of these status seeking groupies not in the minds of wall street professionals who have made it.

 

[stock777]

anyone that pays a 50% performance fee or anything like it is an anus.

 

[marketsurfer]

Quote from stock777:

anyone that pays a 50% performance fee or anything like it is an anus.

why?

50% of 0 is 0

what do you have to lose?

 

[Angrycat]

Quote from stock777:

anyone that pays a 50% performance fee or anything like it is an anus.

anyone who bases his decisions on the size of the fee rather than the after fee expected return is a dumbass.

 

[marketsurfer]

exactly, well said.

 

[Angrycat]

Quote from marketsurfer:

why?

50% of 0 is 0

what do you have to lose?

SAC also charges a 4% management fee and most hedge funds charge a 2% management fee in addition to a share of the profits.

almost none of the trading companies I've ever run across charge a management fee. It's all a percentage of profits. You might be thinking of that model.

 

[Pa(b)st Prime]

Quote from stock777:

anyone that pays a 50% performance fee or anything like it is an anus.

I'm going watch Surf's back on this one.

Certainly CW would agree with you. No I wouldn't pay a guy 50% to take shots. Let alone to imitate Surf's buddy Vic.

However what if a firm with excellent customer flow-for instance an options market maker-came to you and said we have an edge and we'll split 50/50 with your capital. Naturally you'd do it. The same way a producer pays Sandler 20mil instead of Steve Guttenberg 1mil, knowing one actor will produce a release and the other guy can't open.

Look at stocks. You pay 20x earnings, management gets paid millions, the stock pays no dividend and you have absolute price risk. Crap deal. Big pic a quality manager charging 25% is a steal. That being said the time to give Cohen money was 1997 not 2007....