Getbig Bodybuilding, Figure and Fitness Forums
Getbig Main Boards => Gossip & Opinions => Topic started by: Meso_z on July 30, 2014, 02:53:10 AM
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Experiences?
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Interactive brokers. In UK u have cfd sites too like cmc or cityindex
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Fidelity.
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The main ones in the uk are:
http://www.tddirectinvesting.co.uk/
http://www.iii.co.uk/
If you're with HSBC and other banks they have their own platforms.
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Interactive brokers. In UK u have cfd sites too like cmc or cityindex
The best, esp for advanced traders, though I hate their Java platform.
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Fidelity.com
(http://Fidelity.com)
$7.95 trades
You can buy as much as you want with no minimum on quantity of shares purchased.
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This is the one i use in the UK.
http://www.iweb-sharedealing.co.uk/share-dealing-home.asp
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Interactive brokers. In UK u have cfd sites too like cmc or cityindex
I heard a scary statistic yesterday. UK has 60 million odd people, 126k cfd traders.
Ireland has 4 million people, 50k cfd traders.
CFDs are basically gambling, they bankrupted Ireland's former richest man.
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what are you after specifically?
Advice on how to trade?
A portal/software to place trades?
If the latter - what is your trading horizon - how long to you stay in a position?
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I used Scottrade for a while, it was good, easy to use and inexpensive
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I use Tradeking. It isnt built for day traders but it suits my purposes.
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Used Fidelity for many years. Their trading platform is decent and they are constantly making improvements. Stick with limit orders. If you're going to use margin, make sure you fully understand what you are getting involved with. I've had friends that were over-leveraged and got totally wiped out.
One caveat with Fidelity... whenever there was a negative stock market event, their trading platform slowed down tremendously. I think this happens with many trading platforms though.
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We just have JP Morgan/Chase
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We just have JP Morgan/Chase
'we'?
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Etrade or Scott Trade was what I used in the past. Now I just write a check to my adviser.
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I heard a scary statistic yesterday. UK has 60 million odd people, 126k cfd traders.
Ireland has 4 million people, 50k cfd traders.
CFDs are basically gambling, they bankrupted Ireland's former richest man.
It's a mathematical certainty that most active investors underperformed passive. Why do u think joon lays bets as opposed to placing them...
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Etrade?
Some of the bigger brokerage houses had them too when I looked into it.
I just have a managed portfolio and a separate retirement annuity.
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'we'?
Wife and I. Who else?
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IMO if you are to stupid to do some research as to what stock trading sites/platforms are decent you are too stupid to trade.
All of them are basically the same. They are nothing but tools.
Its like asking HEY GUYZ KNOW ANYTHING BOUT HAMMERS, WHICH HAMMERS ARE DECENT, CAUS EIM BOUT TO BUILD A SKY SKRAPER.
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IMO if you are to stupid to do some research as to what stock trading sites/platforms are decent you are too stupid to trade.
All of them are basically the same. They are nothing but tools.
Its like asking HEY GUYZ KNOW ANYTHING BOUT HAMMERS, WHICH HAMMERS ARE DECENT, CAUS EIM BOUT TO BUILD A SKY SKRAPER.
that's sorta true...
however some platforms are easier to use, have better interfaces, etc... then you have to look at commission's and whatnot (some have commission-free etf's for example).
that being said, I've always preferred InteractiveBrokers.
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Much will depend upon what's important to you personally, how much $ you have, how frequently you'll trade and hold positions, etc.
I'd stick to reputable companies that have been around for a while and have a good rep. It would really suck to wire your entire nestegg to some fly-by-night boiler room and never see it again.
If you've only got say 5 or 6 figures and plan to trade pretty frequently, you'll probably want something that offers very cheap trades - some are as low as $1 these days. You'll need a minimum of $25k in your account in the US in order to "pattern day trade".
http://www.sec.gov/answers/patterndaytrader.htm (http://www.sec.gov/answers/patterndaytrader.htm)
If it's speed of execution, go with a direct access platform. That's usually a flat fee of at least a couple hundred a month or so, give or take. This is a good way to go if you've got 6 figures or more and can afford a couple of grand or more in expenses a year. Be very careful trading outside of market hours on such a system - that's like the wild west.
You won't ever be faster than the automated high frequency systems.
You should also think about security. Security is my top priority. I don’t want to have my systems hacked and have my money or client money stolen. Transaction costs are not a factor to me at my level, and I don’t do a large number of them anyway. I use several different very large, old, reputable, financially stable broker dealers for most of my money and my clients’ money.
I rarely day trade – if I do, it’s because something unusual happened and was made public during market hours that is likely to move something dramatically. It’s done out of a designated personal account holding a limited amount of cash I use for such things. I’ll throw a few bucks at it, get in and out quickly, and hopefully make a nice little profit on it. Of course it’s never a guarantee.
If you’re gonna try to “scalp” throughout the day (not something I’d recommend), you’ll need a pretty big nestegg to be able to make big enough bets that will offset transaction costs and STCG taxes on profits, and that at the same time won’t be overly concentrated and overly risky to your portfolio. Because you will be wrong sometimes. Try to keep losses small.
Regarding limit vs market orders, if you’re going to momentum trade for highest speed of execution, I’d not recommend limit orders – the moves are likely to pass right on by your limit and pass you by. If XYZ is suddenly trading on very heavy volume due to some unusual event and is rapidly moving in one direction, you’ll want to just take a chance at the market in order to get in and get out quickly.
I experimented with limit orders in my early days, and abandoned them for that very reason. I can honestly say that of all the thousands of orders large and small I’ve placed for myself and many others over many years, I’ve never gotten screwed. I’ve never placed a market buy with $10k at $35 on a rapidly moving stock and been hit with $45 – I may have gotten in at $35 and change or a bit higher, but it’s no big deal when I SOLD 5 minutes later at $44-45 and made thousands. Sometimes the order gets filled in pieces in such a situation, but that’s part of the game if you’re gonna do any risky in and out stuff.
And I’ve never had a problem getting screwed with more traditional market orders for longer term investing, even on multimillion dollar orders.
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I prefer Interactive Brokers, personally.
Excellent service and cheap execution. Plus you can trade most worldwide markets.
If you are looking to get into this on an intraday basis and you are a US citizen, then you really need to look at the tax reporting side of things and I'd be making sure my platform supported the generation of reports I could use in filing.
Saying that though, I trade US Futures intraday. There's a few reasons why that should be considered over intraday stock trading (e.g. transparency) but basically, the tax reporting is so much simpler for US Citizens for Futures that Stocks. 1 page vs 100's of pages for very active traders.
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Just put your money in the S&P 500 every month. A lot less stress and you'll most likely make more money.
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Just put your money in the S&P 500 every month. A lot less stress and you'll most likely make more money.
Fidelity Magellan.
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Experiences?
IG are pretty good, their iphone app is probably the best out there.
Good luck with the trading!
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Much will depend upon what's important to you personally, how much $ you have, how frequently you'll trade and hold positions, etc.
I'd stick to reputable companies that have been around for a while and have a good rep. It would really suck to wire your entire nestegg to some fly-by-night boiler room and never see it again.
If you've only got say 5 or 6 figures and plan to trade pretty frequently, you'll probably want something that offers very cheap trades - some are as low as $1 these days. You'll need a minimum of $25k in your account in the US in order to "pattern day trade".
http://www.sec.gov/answers/patterndaytrader.htm (http://www.sec.gov/answers/patterndaytrader.htm)
If it's speed of execution, go with a direct access platform. That's usually a flat fee of at least a couple hundred a month or so, give or take. This is a good way to go if you've got 6 figures or more and can afford a couple of grand or more in expenses a year. Be very careful trading outside of market hours on such a system - that's like the wild west.
You won't ever be faster than the automated high frequency systems.
You should also think about security. Security is my top priority. I don’t want to have my systems hacked and have my money or client money stolen. Transaction costs are not a factor to me at my level, and I don’t do a large number of them anyway. I use several different very large, old, reputable, financially stable broker dealers for most of my money and my clients’ money.
I rarely day trade – if I do, it’s because something unusual happened and was made public during market hours that is likely to move something dramatically. It’s done out of a designated personal account holding a limited amount of cash I use for such things. I’ll throw a few bucks at it, get in and out quickly, and hopefully make a nice little profit on it. Of course it’s never a guarantee.
If you’re gonna try to “scalp” throughout the day (not something I’d recommend), you’ll need a pretty big nestegg to be able to make big enough bets that will offset transaction costs and STCG taxes on profits, and that at the same time won’t be overly concentrated and overly risky to your portfolio. Because you will be wrong sometimes. Try to keep losses small.
Regarding limit vs market orders, if you’re going to momentum trade for highest speed of execution, I’d not recommend limit orders – the moves are likely to pass right on by your limit and pass you by. If XYZ is suddenly trading on very heavy volume due to some unusual event and is rapidly moving in one direction, you’ll want to just take a chance at the market in order to get in and get out quickly.
I experimented with limit orders in my early days, and abandoned them for that very reason. I can honestly say that of all the thousands of orders large and small I’ve placed for myself and many others over many years, I’ve never gotten screwed. I’ve never placed a market buy with $10k at $35 on a rapidly moving stock and been hit with $45 – I may have gotten in at $35 and change or a bit higher, but it’s no big deal when I SOLD 5 minutes later at $44-45 and made thousands. Sometimes the order gets filled in pieces in such a situation, but that’s part of the game if you’re gonna do any risky in and out stuff.
And I’ve never had a problem getting screwed with more traditional market orders for longer term investing, even on multimillion dollar orders.
Personally I have been massively shafted on even small orders in small caps via at the market orders. Mid caps and up its prob not an issue
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Have a lot of cash?
Vanguard is the best because they have the lowest fees, but uneedalotacash to open an account.
https://investor.vanguard.com/home/
Have little cash?
Motif will let you buy a motif, or basket of stocks worth $240 for a $9.90 fee per motif. That's a bargain.
https://www.motifinvesting.com/
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ESfitness in 5..4..3..2.
I love these threads brings out the millionaires
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Fidelity Magellan.
I like Fidelity. I have Flpsx and fmilx and a bond fund with them. Plus you can buy ishares etfs through them for no transaction charge.
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IMO if you are to stupid to do some research as to what stock trading sites/platforms are decent you are too stupid to trade.
All of them are basically the same. They are nothing but tools.
Its like asking HEY GUYZ KNOW ANYTHING BOUT HAMMERS, WHICH HAMMERS ARE DECENT, CAUS EIM BOUT TO BUILD A SKY SKRAPER.
Oh, everyone sit down, Warren Buffett has entered the building.
Hey pisser, tell me about successful trading, you sound like quite the expert.
HAHA
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There is exactly one poster in this thread who is not blowing out hot air from his asshole.
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Just put your money in the S&P 500 every month. A lot less stress and you'll most likely make more money.
That's a very good idea for most with limited funds, and not a bad idea for those with more money who don't have the time, temperament, or aptitude to pick their own investments. Index funds are very cheap and good for novices to get broad market exposure without much in the way of longterm investment risk. Better managed mutual funds and ETFs are pricier but also very good tools for novices as well. Stocks and other individual investments will require the most research and emotional stability.
And for one to quit working and try to make a career out of trading full time, it's almost never a good idea.
You'll need a source of stable income to live on such as rental properties or a separate income fund, since you definitely don't want to use your trading account for withdrawals for living expenses. And you'd need enough money in the trading account to justify spending 50-60 hours a week in front of the tv and computer trading, doing research, etc. I wouldn't recommend someone quit their 6 figure job as a lawyer, CPA, engineer, or whatever - you'd basically want to be at a point where you could retire from work. Millions in assets at least.
And you’d ideally want to keep the majority of your investment dollars invested more traditionally – I’d say 90-95%. Because it’s common knowledge that the failure rate of traders is 95%, and those who succeed generally have the most money, the best technology, and other “edges”.
I’ve had more than one client over the years come see me after they retired from Exxon or Shell or their own business or whatever and brought me a nice nestegg of upper six figures or several million or whatever who wanted to do some high-risk stuff. I’d convince them to let me invest 90% my way for them, and tell them to have fun trading the other 10% with a discount broker on their own, as I had neither the time nor the inclination to be on the phone with them all day nor watch their $ get eaten up in an account with me.
They’d always come back in a month or 2, maybe 3-6 months max with whatever was left of that 10% for me to invest for them my way. They’d usually have less than half that 10% left, sometimes almost nothing left.
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Personally I have been massively shafted on even small orders in small caps via at the market orders. Mid caps and up its prob not an issue
I've never had a problem. Of course I've always either worked for better BDs or otherwise used them.
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I use TD Ameritrade. Reasonable rates...
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Great reads for millennials:
If You Can: How Millennials Can Get Rich Slowly
http://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI/ref=sr_1_1?ie=UTF8&qid=1406827822&sr=8-1&keywords=If+You+Can%3A+How+Millennials+Can+Get+Rich+Slowly
For all beginners:
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
http://www.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW/ref=sr_1_1?ie=UTF8&qid=1406827876&sr=8-1&keywords=the+four+pillars+of+investing
For all getbiggers:
The Millionaire Next Door
http://www.amazon.com/Millionaire-Next-Thomas-Stanley-Ph-D-ebook/dp/B00CLT31D6/ref=sr_1_1?ie=UTF8&qid=1406827919&sr=8-1&keywords=the+millionaire+next+door
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Do you people think Buffett made his money with stock trading?
Do you know you are being front-run by HFT's?
Do you think you can compete with the best employees of banks and hedge funds?
That's hilarious.
Lets see those portfolios and how they fared, HAHA.
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Oh, everyone sit down, Warren Buffett has entered the building.
Hey pisser, tell me about successful trading, you sound like quite the expert.
HAHA
I dont trade. Invest. I dont even need a computer cause I dont make daily or even weekly trades. Up 33% this year so far. wanna see my account? I have nothing to hide. Anyone who is asking what trading platform to use is a moron and doesn't deserve help. If you cant figure out what suits your needs you are even more of moron.
I specialize in special situation. So far my winners this year have been spin offs PSX, HY, also heavily invested in SLI, SANM, have positions in FNMA since 3ish, Held AIG for quite a while now, just invested in spin off DNOW, invested in jewish food maker WILC for quite a while. Almost all my positions are long term status besides a few so I get tax benefits when I choose to sell. Sold out of JNJ wish I held for a while recently.
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Great reads for millennials:
If You Can: How Millennials Can Get Rich Slowly
http://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI/ref=sr_1_1?ie=UTF8&qid=1406827822&sr=8-1&keywords=If+You+Can%3A+How+Millennials+Can+Get+Rich+Slowly
For all beginners:
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
http://www.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW/ref=sr_1_1?ie=UTF8&qid=1406827876&sr=8-1&keywords=the+four+pillars+of+investing
For all getbiggers:
The Millionaire Next Door
http://www.amazon.com/Millionaire-Next-Thomas-Stanley-Ph-D-ebook/dp/B00CLT31D6/ref=sr_1_1?ie=UTF8&qid=1406827919&sr=8-1&keywords=the+millionaire+next+door
“The Millionaire Next Door” should be required reading for every high school senior IMO. I’ve read several other books from the same authors – “The Millionaire Mind”, etc.
I learned from those books to be frugal and invest wisely as much and as often as I can. Most important lessons ever.
Benjamin Graham’s books are awesome and timeless. “The Intelligent Investor” and “Security Analysis” have shaped my own investment style and made me lots of money for myself and my clients.
Peter Lynch also - he averaged nearly 30% as a MUTUAL fund manager!
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Do you people think Buffett made his money with stock trading?
Do you know you are being front-run by HFT's?
Do you think you can compete with the best employees of banks and hedge funds?
That's hilarious.
Lets see those portfolios and how they fared, HAHA.
I’m very familiar with Buffett’s style, and that of his mentor Benjamin Graham.
I try to discourage small investors from dangerous and stupid investment practices and steer them in the right direction – even online strangers I’ll never meet who could be just taking the piss for all I know. When money is lost, as in REALIZED losses, high transaction costs, or stocks or bonds blowing up or whatever, that money is GONE! But I can’t make them do or not do anything – that’s up to them.
Proper longterm investing in a diversified portfolio of quality investments is an almost (but not quite) certain way to becoming relatively well-off over time.
I’ve already addressed the HFT issue in a previous post. They are not technically front running (at least not without breaking the law via preferential treatment through any crooked exchanges), but they are faster than any human ever will be.
I invest mostly on fundamentals, mainly bottom-up, and don’t worry about what the other guy is doing or says he’s doing, or even too much what the overall market is doing – I'm more about finding rapidly growing companies or undervalued companies to buy and buy more of as they get cheaper… and finding a few fundamentally deteriorating or broken or otherwise ridiculously overvalued companies (JCP, SHLD, HLF, etc) to carefully bet against. Also using higher yielding and tax free bonds at times, as well as puts on some long positions to protect downside… and some commodities, real estate, and other “alternative investments” both defensively and offensively.
How about you, Stud?
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HFT are picking up nickels at a time. One group I know called Green Park Trading trade over $50bn a day and their pnl run rate is about $150m per year.... ie $150m profit on $10tn of turnover. Thats 0.15bps of average profits per trade.
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Wife and I. Who else?
The soapy studs?
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I invest mostly on fundamentals, mainly bottom-up, and don’t worry about what the other guy is doing or says he’s doing, or even too much what the overall market is doing
you are too thick to trade therefore you have a beta participation strategy.
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Wife and I. Who else?
Women are sharks, find a good lawyer in case of a divorce
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you are too thick to trade therefore you have a beta participation strategy.
Do you even understand what bottom-up investing is? Hint - it's what Buffett, Icahn, and most other rich guys do. They don't sit and "trade" all day, son - that's what soon to be broke 25 year olds who just inherited $100k do until it's all gone in a year or two. But hey, it's "cool" and "alpha" to say you had $100k once and used to "day trade", right? Who cares about retiring a multimillionaire at 60 anyway?
Read some books I've mentioned in this thread - and go through my post history with a pad and pen in hand and get back to me when you actually have a fucking clue.
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Do you even understand what bottom-up investing is? Hint - it's what Buffett, Icahn, and most other rich guys do. They don't sit and "trade" all day, son - that's what soon to be broke 25 year olds who just inherited $100k do until it's all gone in a year or two. But hey, it's "cool" and "alpha" to say you had $100k once and used to "day trade", right? Who cares about retiring a multimillionaire at 60 anyway?
Read some books I've mentioned in this thread - and go through my post history with a pad and pen in hand and get back to me when you actually have a fucking clue.
Actually, Warren Buffet buys companies and has a say in the direction they go in.
What he does is not something your average investor can replicate.
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I dont trade. Invest. I dont even need a computer cause I dont make daily or even weekly trades. Up 33% this year so far. wanna see my account? I have nothing to hide. Anyone who is asking what trading platform to use is a moron and doesn't deserve help. If you cant figure out what suits your needs you are even more of moron.
I specialize in special situation. So far my winners this year have been spin offs PSX, HY, also heavily invested in SLI, SANM, have positions in FNMA since 3ish, Held AIG for quite a while now, just invested in spin off DNOW, invested in jewish food maker WILC for quite a while. Almost all my positions are long term status besides a few so I get tax benefits when I choose to sell. Sold out of JNJ wish I held for a while recently.
Yes, screen shot your account. Obviously black out any personal/sensitive details. Let's see this 33% profit. Since you offered that is.
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Actually, Warren Buffet buys companies and has a say in the direction they go in.
What he does is not something your average investor can replicate.
Average investors can buy BRK.B, IEP, etc, for example and they can also do their own homework if they have the time and can keep their egos in check.
I like both value and growth. I look for companies with unique or innovative products and services, strong competitive advantages, and more often than not a healthy balance sheet. I've done very well investing in companies with very strong growth / acceleration in revenue, EPS, margins, etc. Companies trading at below average PE, P/B, P/S, etc. High ROE and preferably little or no debt are always good qualities. And companies with strong cash flow trading at a healthy discount are often takeover targets. I'd estimate that 10-15% of the companies I have owned over the years have been taken over - usually at a very healthy premium.
I’ve averaged 15% over 20 years myself doing what I do. There’s certainly more than one way to skin a cat, but I think someone should know the difference between PE and PEG and top line and bottom line growth before they decide to quit their job and start trading stocks or other securities all day every day.
Ego and worrying about what’s “alpha” or thinking that people who do things this way or that way are lazy or dumb or whatever because they don’t overly complicate things and they take common sense risk management measures is a fatal mistake. Icahn himself has said repeatedly that the best deals are the simple deals he can write out and read off the back of an envelope.
Just an example of a rich guy who knows that ego has no place in investing - A guy named Anthony Scaramucci who used to earn 7 figures as a Director for Goldman now runs a hedge fund with $10 billion. He recently said that he approached Icahn about giving Icahn as much as 4 billion to invest for him and his investors. Icahn said no, the fund is closed to new investors. But to me Scaramucci is what you call a smart man with a firm grasp of reality and the ability to keep his ego in check enough to want to do what is best for him and his investors, and who’s smart enough to realize that some people know some things he doesn’t or may know how to do certain things better than he can.
That’s what it’s all about to me – having a realistically big enough wad of cash at some point that you can do just about whatever you want to do, and tell the world and everyone in it to get fucked if they get give you any shit.
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Do you even understand what bottom-up investing is? Hint - it's what Buffett, Icahn, and most other rich guys do. They don't sit and "trade" all day, son - that's what soon to be broke 25 year olds who just inherited $100k do until it's all gone in a year or two. But hey, it's "cool" and "alpha" to say you had $100k once and used to "day trade", right? Who cares about retiring a multimillionaire at 60 anyway?
Read some books I've mentioned in this thread - and go through my post history with a pad and pen in hand and get back to me when you actually have a fucking clue.
Lol. U tool. I read several buffet books at uni. Lowensteins was best I also read every be annual letter. Like 30 of them and went through the businesses financials. That was 15 years ago... back 5 hen sees candy was prob best non financial business he had and the two plane businesses and general re were the dogs.
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Average investors can buy BRK.B, IEP, etc, for example and they can also do their own homework if they have the time and can keep their egos in check.
I like both value and growth. I look for companies with unique or innovative products and services, strong competitive advantages, and more often than not a healthy balance sheet. I've done very well investing in companies with very strong growth / acceleration in revenue, EPS, margins, etc. Companies trading at below average PE, P/B, P/S, etc. High ROE and preferably little or no debt are always good qualities. And companies with strong cash flow trading at a healthy discount are often takeover targets. I'd estimate that 10-15% of the companies I have owned over the years have been taken over - usually at a very healthy premium.
I’ve averaged 15% over 20 years myself doing what I do. There’s certainly more than one way to skin a cat, but I think someone should know the difference between PE and PEG and top line and bottom line growth before they decide to quit their job and start trading stocks or other securities all day every day.
Ego and worrying about what’s “alpha” or thinking that people who do things this way or that way are lazy or dumb or whatever because they don’t overly complicate things and they take common sense risk management measures is a fatal mistake. Icahn himself has said repeatedly that the best deals are the simple deals he can write out and read off the back of an envelope.
Just an example of a rich guy who knows that ego has no place in investing - A guy named Anthony Scaramucci who used to earn 7 figures as a Director for Goldman now runs a hedge fund with $10 billion. He recently said that he approached Icahn about giving Icahn as much as 4 billion to invest for him and his investors. Icahn said no, the fund is closed to new investors. But to me Scaramucci is what you call a smart man with a firm grasp of reality and the ability to keep his ego in check enough to want to do what is best for him and his investors, and who’s smart enough to realize that some people know some things he doesn’t or may know how to do certain things better than he can.
That’s what it’s all about to me – having a realistically big enough wad of cash at some point that you can do just about whatever you want to do, and tell the world and everyone in it to get fucked if they get give you any shit.
Scaramucci is a moron and marketing impresario . The guy running the portfolios there is called ray nolte.
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Lol. U tool. I read several buffet books at uni. Lowensteins was best I also read every be annual letter. Like 30 of them and went through the businesses financials. That was 15 years ago... back 5 hen sees candy was prob best non financial business he had and the two plane businesses and general re were the dogs.
I don't understand most of that garbled crap. Please sober up and speak English.
I seriously doubt you've ever bought a share of stock in your life. If you have been investing any length of time, you'd have some humility and actual knowledge. You wouldn't use stupid middle school "insults" like "beta" to try to insult anyone who practices risk management and thinks longterm - which is just about everyone who holds on to their money.
I think it's more likely that you're a drunken fratboy who's probably still in school at 30.
I graduated from college over 2 decades ago and having been managing money for 10. Over $100 mil AUM. Read my posts and learn what to do and not do in the event you ever inherit any money.
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Scaramucci is a moron and marketing impresario . The guy running the portfolios there is called ray nolte.
Yeah, I'm sure you know exactly what goes on at the fund - not that I know or care myself - it was just an example... and I'm sure you're doing better at life than a former Goldman exec and manager of a $10 bil fund is. ::)
And I love the way you took so long to reply to me replying to your lame attempt at a 3rd grade insult. I guess you had to spend a couple of days and nights googling.
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Yeah, I'm sure you know exactly what goes on at the fund - not that I know or care myself - it was just an example... and I'm sure you're doing better at life than a former Goldman exec and manager of a $10 bil fund is. ::)
And I love the way you took so long to reply to me replying to your lame attempt at a 3rd grade insult. I guess you had to spend a couple of days and nights googling.
keep jerking off over how great you are and mixing with people who make you feel like a big shot. lol.
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Just buy whatever Leonardo DiCaprio buys in the Wolf of Wall Street. (I haven`t seen the movie but I know Dicaprio made a few millions investing in expensive cars and boats and things)
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I don't understand most of that garbled crap. Please sober up and speak English.
I seriously doubt you've ever bought a share of stock in your life. If you have been investing any length of time, you'd have some humility and actual knowledge. You wouldn't use stupid middle school "insults" like "beta" to try to insult anyone who practices risk management and thinks longterm - which is just about everyone who holds on to their money.
I think it's more likely that you're a drunken fratboy who's probably still in school at 30.
I graduated from college over 2 decades ago and having been managing money for 10. Over $100 mil AUM. Read my posts and learn what to do and not do in the event you ever inherit any money.
if you are some self styled senior exec in asset management and all you manage is $100m you must be working at some third rate bucket shop or regional office.
scaramucci is a salesman. most of his investment ideas are a disaster. they merged the citi fohf business into skybridge because scaramucci's original business was folding and the guys at citi, ie ray nolte didnt have distribution inside citi. nolte has done an ok job, but its really been a sales and marketing operation outside of that. it will probably blow up soon enough, but in the mean time you can keep stroking yourself.
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if you are some self styled senior exec in asset management and all you manage is $100m you must be working at some third rate bucket shop or regional office.
scaramucci is a salesman. most of his investment ideas are a disaster. they merged the citi fohf business into skybridge because scaramucci's original business was folding and the guys at citi, ie ray nolte didnt have distribution inside citi. nolte has done an ok job, but its really been a sales and marketing operation outside of that. it will probably blow up soon enough, but in the mean time you can keep stroking yourself.
I've said here repeatedly I used to be a retail broker / IA at a major firm, and I now have a small private investment fund. $100 mil in a city my size is pretty respectable, but it's by no means huge. Makes me a nice upper 6 or low 7 in a bad year, more in a good year. I stay under $150 mil to minimize paperwork and additional regulatory headaches.
Some of my ex-coworkers have 2-3 times that, and a couple of guys here and there an hour or so away from me in a couple of directions have 5 times that. Of course they have to give half of it more back to the BD.
I'm not far from Houston, and there are guys there and in the Dallas area who have billions. Good for them. I sincerely have nothing but admiration and respect for people who are successful. Those who are more successful than me inspire me, so I don't feel the need to try to slag them.
Again, I grew out of egomania and machismo very early in my investing career. They will kill you. The sooner you realize you won't be the best investor ever, and that you only need worry about the best ways to keep and grow your money, the better off you'll be.
I'll take your word for it on Anthony S - I'm just going by what he said on national tv. I don't care enough to bother to fact check something that has no effect on my business - I just felt that he made a good point. But go ahead and hate on his obvious success if it makes you sleep better.
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keep jerking off over how great you are and mixing with people who make you feel like a big shot. lol.
I'm actually pretty good at making OTHERS feel like big shots, at least IRL. Part of winning friends and influencing people. Of course it's always been a better use of time and better for business if those others have lots of money or know others who do. ;D
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I've said here repeatedly I used to be a retail broker / IA at a major firm, and I now have a small private investment fund. $100 mil in a city my size is pretty respectable, but it's by no means huge. Makes me a nice upper 6 or low 7 in a bad year, more in a good year. I stay under $150 mil to minimize paperwork and additional regulatory headaches.
asset mgmt revenues now for institutions are maybe 25bps... so you are either in higher risk products or retail type brokerage... that said making a buck or so on a low intensity business is a good life. im personally trying to move from where i am now to a hedge fund, maybe a start up. but its a minefield. i know some where 9/10 things went right and it still didnt work out/ they got screwed.
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As a retail rep / IA years ago, I was mainly in managed money. Did the IA flat 1% on most products for clients above $100k. They've mainly gotten away from the old transactional and front-loaded stuff for the most part. It's largely gone to institutional shares of mutual funds, stocks, bonds, and a few other things here and there. "Trails" rather than a big upfront fee with little or no trail.
Annuities and other insurance products and certain "structured investments" (basically bonds created using options based upon baskets of stocks, commodities, etc typically with a cap and a multiplier on either the upside or downside for the client) paid out more.
The big firm BDs typically take between 50-60% - more for a lower producer, less for a higher producer. A rep / IA going independent will generally get to keep 90% without being micromanaged, but has their own office and marketing expenses, admin headaches, etc and still must follow the same regs basically.
The big firms also have ways of paying reps less per dollar of AUM. Like some only paying on accounts above $250k, only paying on money brought in that is flipped into another investment, etc. And heaven forbid you flip money they don't think you should have, at least if it's not in a managed account. :-X
The best scenario I've found for myself is to strictly deal with accredited investors - the "private investment fund" in legal terms... i.e. "hedge fund" - a term I hate and don't use for myself. And have a limited number of investors that you know very well. Fewer expenses with a limited number of clients and minimal turnover of clients - and far fewer headaches and regs. You basically only have to worry about not running afoul of the govt... not a problem as long as you don't get greedy, lie, steal, make "guarantees" you cannot keep, or else have any nutty clients who would wrongly accuse you of any such things.
You can charge a performance fee as well as an admin fee. But I will only do that with the $ I will invest for anyone that actually requires significant effort and also likely some research expense (and certainly considerable time) on my end. I would never charge a performance fee or even an admin fee above a minimal amount for things like investmet in a conservative income portfolio (mainly local munis and investment grade corporates), insurance products, or mutual funds.
Basically doing what's right for the client, underpromising / (hopefully) overdelivering, and emphasizing things like trustworthiness, stability, integrity, etc rather than huge returns.
If somebody came to see me with $10 mil who wanted me to guarantee them double digit returns, or who wanted 50% or more a year with no losses ever or whatnot, I'd tell them straightup they were not being realistic. Anyone who can do that will end up being a trillionaire.