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The man that first introduced me to futures managed hundreds of millions of
dollars and extremely good trader. One of his first pieces of advice...
Never register as a CTA/CPO! He said the bureaucracy was a nightmare. There
are ways around it. I set up a pool under the registration requirements as
a non-registered CPO. He recommended offshore companies and accounts.
Howard
>From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: Re: [RT] Wealth
>Date: Sat, 10 Nov 2001 00:19:31 -0600
>
>"Past two days" . . . try months as you try to understand their constantly
>changing calculation methods on returns both fully funded, notional and
>average weighted daily $$ in the accounts to come up with returns. By the
>time they are done, no normal investor can understand the disclosure
>document and by their own methods they distort returns in many cases
>(dispite your objections and pointing it out). Then there are the audits,
>by more people than one can imagine give the size of the funds under
>management, someone stop me . . . having helped someone through this
>process
>I can only tell you it was madening and a good reason to keep the number of
>accounts under 15 to avoid the "process".
>
>John L. if you are successful in your endeavor, I am sure others on this
>list can give you some of the needed changes the NFA should enact to
>"really" protect investors. The current process in my opinion does not,
>far
>from it. No standards, no commen documentation, no commen meaningful
>method
>to calculate returns . . . the list goes on, a typical bureaucracy.
>don ewers
>----- Original Message -----
>From: "Howard Hopkins" <hehohop@xxxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Friday, November 09, 2001 7:04 PM
>Subject: Re: [RT] Wealth
>
>
> >
> > I started working as Director of Business Development for a CTA friend
>of
> > mine less than a month ago. We are trying to put out marketing mailers
>and
> > TV ads. He's up over 80% in the last 12 months. We can NOT mention our
> > returns without first presenting a D-Doc. So we have this great
>performance
> > but can not mention it directly. I've been on the phone and emailing
>NFA
> > compliance about what we can and can not say for the past two days.
> >
> > It's maddening that a legitimate money manager can not advertise actual
> > documented returns but these guys with mass mailers can dupe the public
>into
> > beleiving they can trade their way to riches!
> >
> > The NFA needs to set a standard like the securities industry where you
>can
> > advertise returns compared to a standard benchmark like the S&P.
> >
> > Just my two cents,
> > Howard
> >
> > >From: Ted Stampeen <cstampeen@xxxxxxx>
> > >Reply-To: realtraders@xxxxxxxxxxxxxxx
> > >To: realtraders@xxxxxxxxxxxxxxx
> > >Subject: Re: [RT] Wealth
> > >Date: Fri, 09 Nov 2001 09:49:39 -0800
> > >
> > > I'm truly amazed also that there is no law to combat this kind of
>B.S.,
> > >if the "powers that be " really want to
> > > do a service to the" public at large", this should be their top
> > >priority,
> > >I have chatted with people who were starting
> > > out with a less than 5k account, and were going to trade Bellies
>because
> > >of some nice ' chart formation', so I asked
> > > them, what about being on the wrong side of a lock-limit move for
>days
> > >on
> > >end, because bellies can , and will do that,
> > > they had no idea, because it was not mentioned in their course they
>just
> > >bought, so I also mentioned that maybe
> > > they should start off with the less volatile and more liquid
>contracts,
> > >and again, they had no idea what I was talking about..
> > >
> > > all other "FALSE ADVERTISING" would be pulled off the shelf, the
> > >vendor
> > >probably sued, but not in
> > > this industry.. mind-boggling..
> > >
> > > enuff said / Ted
> > >
> > >
> > >
> > >
> > > > I just received a booklet in the mail that will tell me "How To Make
>a
> > > > Fortune With Only $400 and Gain Financial Freedom". He is selling a
> > > > Guaranteed Options trading system. It is tough for me to stomach
>some
> > > > of these ads put out to the unknowing public.
> > > >
> > > >
> > > > To unsubscribe from this group, send an email to:
> > > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > > >
> > > >
> > > >
> > > > Your use of Yahoo! Groups is subject to
> > >http://docs.yahoo.com/info/terms/
> > > >
> > > >
> > >
> >
> >
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