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Author Topic: Anyone familiar with online stock trading sites?  (Read 1455 times)
2Thick
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« Reply #50 on: August 04, 2014, 02:21:37 PM »

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.  Roll Eyes

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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denarii
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« Reply #51 on: August 04, 2014, 04:06:16 PM »

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.  Roll Eyes

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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The True Adonis
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« Reply #52 on: August 04, 2014, 04:10:14 PM »

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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« Reply #53 on: August 04, 2014, 04:10:30 PM »

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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« Reply #54 on: August 06, 2014, 12:16:37 PM »

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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« Reply #55 on: August 06, 2014, 12:18:14 PM »

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.  Grin
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« Reply #56 on: August 06, 2014, 01:50:56 PM »

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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« Reply #57 on: August 07, 2014, 02:51:06 PM »

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.  Lips sealed


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.
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