alf44
2,025 posts
msg #41462
- Ignore alf44
modified |
2/21/2006 2:41:30 PM
"do it like this:
Friend invests XXX dollars with you.
you trade and make friend $XXX back.
There after you split all future profits 50/50
Win/win"
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Of course, this presupposes that you WILL..."trade and make friend $XXX back" !
If that doesn't happen...well...it obviously WOULDN'T be "win/win" !
And I'm fairly certain that's why mark added THIS LINE at the end of his post :
"Of course you do have an excellent track record ?"
Regards,
alf44
PS. Be sure to add the familiar boiler plate lingo...that is...
"Past performance does not in any way indicate future success !'
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EWZuber
1,373 posts
msg #41481
- Ignore EWZuber |
2/22/2006 3:13:53 AM
Make sure he understands the risk involved and the unpredictable nature of the market at times.
If he is unwilling to lose capitol you might offer him a 'no risk' option that guarantees his investment capitol will never drop below the amount he has entrusted to you* but that is worth a much greater percentage to you since you accept all the risk. It might help keep you as friends should things not go as planned.
I would never trade with someone elses money unless the account had a combined total of more than $25K in it so I would not have to alter my trading strategy to accomodate the PDT rule.
*you would need to replace any of his money that was lost and never allow the account to drop below a level that would allow you to cash him out on demand.
GL
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ronun
27 posts
msg #41483
- Ignore ronun |
2/22/2006 3:42:43 AM
Friends plus money equals pain. Been there, it's a lose/lose.
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acervapsych
39 posts
msg #41567
- Ignore acervapsych |
2/25/2006 12:42:48 PM
Freinds, Family and money dont mix...
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STACKS617
4 posts
msg #41929
- Ignore STACKS617 |
3/12/2006 12:47:08 PM
i actually manage 3 of my friends accounts .they are all over 25k i have a weekly avg % of about 7% on the total investments ie $1500 a week and i usually charge them 30-35% i think thats pretty fair and it gives them some money to pocket after taxes...
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TheRumpledOne
6,407 posts
msg #41935
- Ignore TheRumpledOne |
3/12/2006 3:12:30 PM
Nice trading!
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guru_trader
485 posts
msg #41945
- Ignore guru_trader |
3/12/2006 5:17:17 PM
You are certainly right about that! :)
============
In Reply To:
============
Koronbock
Guru,
be careful with these kind of arrangements. Friendship and money arrangements often end in disaster (for the friendship) and sometimes for both.
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EWZuber
1,373 posts
msg #41971
- Ignore EWZuber |
3/13/2006 3:36:08 AM
STACKS617
I'm wondering what kind of an arrangement do you have with your friends? Are these accounts at different brokers in your friends names or?
TIA
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rtucker
318 posts
msg #41993
- Ignore rtucker
modified |
3/13/2006 10:13:16 PM
d
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alf44
2,025 posts
msg #42000
- Ignore alf44
modified |
3/14/2006 12:54:28 AM
rtucker,
That's why Albert Einstein called Compound Interest the "8th Wonder of the World" !
Where do these people come from ?
And actually I think I say...
Jeeezzz !!! lol
Regards,
alf44
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