Steve,
>> When somebody comes up with a "system" guaranteed to produce high returns, I always wonder why they're telling me about it. If it's so good, why don't they just go make a zillion dollars?
I agree with you in general. However, look at some of the really good traders (Soros, Kovner, Tudor Jones, et al). Why do they bother managing money when they could just manage their own fortunes? Because they generally make huge amounts as management fees. The average CTA takes 2% of assets and 20% of profits (I think).
So the Dr's system may be good or bad. But if it's good, he can make more money with less risk managing other's $$$ as well as his own, than trying to just trade his own stake with huge leverage.
On that note - here's a comment to the DR: If you can get 100K together and trade it for a year, you can post your results on some of the publicly accessible money-manager sites as a CTA - eg www.traderscan.com - so you can show off your system's audited, real-time results.
Michael Friesen |
