Donna, please tell me you were joking.
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- Thread starter torontoman
- Start date
Donna, please tell me you were joking.
nooooo I'm not...I haven't yet figured you out...(although you don't manage OPM do you?) may be when I'm in Chicago I can look you you up...( I will be there May 31, June 1&2)
I will definitely meet Riskarb when we get to Tahoe. In all honesty I HATE managing our $$$ (although I enjoy the mental challenges and the knowledge) but at this time I am the best person for the job...in a few year's personal circumstances may change and we will actually have enough to risk with other ppl........
BTW I thought you wrote a very thoughtful critique on hedge funds...unable to outperform the indices... and you are very correct. Retail traders can do as well as hedge funds when the 20% /2% fee's are taken into consideration.
Quote from Choad:
But then, I remember her saying Coinzy could manage her Forex account!
ok smarta$$ WHEN did I say that
...I don't do forex:eek:Home Alone on a Wed nite and nothing but this crap...GOD just take me NOW!
I thought HE wa banded...or something like that
Well, I was not just referring to the fees hedge funds charge but rather the tax consequences. When you are invested with a hedge fund, all your gains are short term gains. You are paying a heavy price tax wise. Most mutual funds have become very good at maximizing all their tax advantages and much of their gains are long term, not short term. If one invests only in ETF's and holds them, they have zero tax consequences.
So another way to look at this, hedge funds have to outperform mutual funds 2 to 1 to stay on par with index funds. This is not even taking into account the 2/20 fee arrangement.
Donna, let me give you some very friendly advice. Most people on ET are full of shit. I would be very very careful giving any money to any of these guys. It's one thing to exchange friendly banter with these guys on a message board, it's quite another to give them your money. Caveat emptor.