Comments on: An investment platform for independent money managers http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 02 Oct 2011 19:26:45 +0000 hourly 1 http://wordpress.org/?v=abc By: Living Off Dividends http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-3787 Living Off Dividends Mon, 28 Jan 2008 20:46:37 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-3787 whats the big deal about getting licensed? any buffoon can get licensed. in fact most advisors are buffoons. whats the big deal about getting licensed?
any buffoon can get licensed. in fact most advisors are buffoons.

]]> By: the skeptic http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-3784 the skeptic Sun, 27 Jan 2008 22:22:42 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-3784 here's an interesting tidbit for you. The investment industry is subject to significant regulations. any type of advertising or prospecting for advisory clients when you are not properly licensed/registered violates federal laws. want to re-think your post? here’s an interesting tidbit for you. The investment industry is subject to significant regulations. any type of advertising or prospecting for advisory clients when you are not properly licensed/registered violates federal laws. want to re-think your post?

]]> By: Mike http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-3392 Mike Thu, 04 Oct 2007 16:29:55 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-3392 I am a 19 year old college student who wants to manage investments. How can I do that? I am a 19 year old college student who wants to manage investments. How can I do that?

]]> By: Frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-2464 Frugal Sat, 17 Feb 2007 23:31:58 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-2464 Adventures In Money Making, Your plan sounds very good to me. I think that being a money manager will only pay off in the long term when you get to manage more than $20 million dollars, presumably earning at least $200K. Scaling to that point is quite hard, but the opportunities for scaling beyond that point are boundless. Adventures In Money Making,
Your plan sounds very good to me. I think that being a money manager will only pay off in the long term when you get to manage more than $20 million dollars, presumably earning at least $200K. Scaling to that point is quite hard, but the opportunities for scaling beyond that point are boundless.

]]> By: Adventures In Money Making http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-2452 Adventures In Money Making Sat, 17 Feb 2007 00:03:23 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-2452 sounds like too much work for too little return! i'm looking at commercial investments right now and will pool together about 250k-500k from about 50 people. I'll charge about 1-2% going in and 20% of the profits. The advantage is the small investor with 7-10k to invest gets in on commerical investments without grossly overpaying for them (like you do in REITS), you get a tax-advantaged 10%+ cash on cash return, and no headache. I benefit by investing in larger bldings than I could on my own (which have higher returns) and I make a bit of money for my research and effort. I'm currently doing that on 2 oil & gas projects. Of course you need a lawyer involved and it gets very time consuming, plus raising the money within a given time frame is crucial, and you need to provide regular updates.... did I say it was less work for more money? sounds like too much work for too little return!

i’m looking at commercial investments right now and will pool together about 250k-500k from about 50 people.
I’ll charge about 1-2% going in and 20% of the profits. The advantage is the small investor with 7-10k to invest
gets in on commerical investments without grossly overpaying for them (like you do in REITS), you get a tax-advantaged 10%+ cash on cash return, and no headache.

I benefit by investing in larger bldings than I could on my own (which have higher returns) and I make a bit of money for my research and effort.

I’m currently doing that on 2 oil & gas projects. Of course you need a lawyer involved and it gets very time consuming, plus raising the money within a given time frame is crucial, and you need to provide regular updates…. did I say it was less work for more money?

]]> By: Frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-2033 Frugal Tue, 19 Dec 2006 05:54:06 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-2033 WING LEUNG, Sorry. I couldn't find any available time to manage others' money as well as getting the necessary platform/qualification to do it. Too many things to do and too little time. WING LEUNG,

Sorry. I couldn’t find any available time to manage others’ money as well as getting the necessary platform/qualification to do it. Too many things to do and too little time.

]]> By: WING LEUNG http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-1998 WING LEUNG Sat, 16 Dec 2006 17:32:04 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-1998 I am interested to have you as my money manager. So how? Please email me about your service included and also fee schedule and if in case we cannot work together, how I can exist. I think that is a reasonable one. Life happens. PS; Anyway, I am glad you hold off with the house purchase. I have my dream house in San Antoino Texas that was in the market for a whole year. I have made friends with the neighborhood and constantly email them what happen to that house I am interested. Some of them gave me their email to keep an eye for me. So I have my ears and eyes other than the seller / buyer realtor. This really works. until then, get some sleep I am interested to have you as my money manager. So how? Please email me about your service included and also fee schedule and if in case we cannot work together, how I can exist. I think that is a reasonable one. Life happens.

PS; Anyway, I am glad you hold off with the house purchase. I have my dream house in San Antoino Texas that was in the market for a whole year. I have made friends with the neighborhood and constantly email them what happen to that house I am interested. Some of them gave me their email to keep an eye for me. So I have my ears and eyes other than the seller / buyer realtor. This really works.

until then, get some sleep

]]> By: Frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-1552 Frugal Wed, 18 Oct 2006 20:18:06 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-1552 Every state is different. But I believe NASD 65 is the most widely accepted. I research on this long time ago, and can't remember the details. ScottradeAdvisor.com do have more information to help you get started. Every state is different. But I believe NASD 65 is the most widely accepted. I research on this long time ago, and can’t remember the details. ScottradeAdvisor.com do have more information to help you get started.

]]> By: Flexo http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-1551 Flexo Wed, 18 Oct 2006 17:16:34 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-1551 Are the certifications/qualifications in your Step 1 the only ones needed in order for the money management activity to be legal and conform with NASD regulations? Are the certifications/qualifications in your Step 1 the only ones needed in order for the money management activity to be legal and conform with NASD regulations?

]]> By: frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-443 frugal Sat, 24 Jun 2006 14:16:54 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-443 Hi Merez, Scalability is always an issue. Bigger amounts will definitely start to impact your performance bit by bit. I don't plan to quit my day job anytime soon. I'm more interested in helping out smaller investors with smaller amounts. If there are people who ask me right now to manage over $500K dollar for him or her, I will tell them to find someone else. They're rich enough that they can afford not to get a good return on their money, and still be very well-off. Of course, I'm <b>assuming</b> that my returns are good here. Hi Merez,
Scalability is always an issue. Bigger amounts will definitely start to impact your performance bit by bit. I don’t plan to quit my day job anytime soon. I’m more interested in helping out smaller investors with smaller amounts. If there are people who ask me right now to manage over $500K dollar for him or her, I will tell them to find someone else. They’re rich enough that they can afford not to get a good return on their money, and still be very well-off. Of course, I’m assuming that my returns are good here.

]]> By: Merez http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-442 Merez Sat, 24 Jun 2006 13:17:41 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-442 Hello, I can't say, I'm not interested. Though, the one concern that comes to mind is how scalable your strategy is. Since trading 10 million (the amount you would need to live off of) is much different than trading 10k or even 100k. Getting into and out of positions would take much more time due to the limited liquidity of the general market (which has been one of the issues I've run into in the options market; well especially for some of the major indexes), not to mention the run up in the stock's price in the acquiring stage and vice versa when you sell. Hello,

I can’t say, I’m not interested. Though, the one concern that comes to mind is how scalable your strategy is. Since trading 10 million (the amount you would need to live off of) is much different than trading 10k or even 100k. Getting into and out of positions would take much more time due to the limited liquidity of the general market (which has been one of the issues I’ve run into in the options market; well especially for some of the major indexes), not to mention the run up in the stock’s price in the acquiring stage and vice versa when you sell.

]]> By: frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-203 frugal Tue, 23 May 2006 04:52:10 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-203 That's a good question. Terrible for the last two weeks, and you can see that from my recent posts. I'm about up about 3% YTD, and up about 20% since last April. It's still pretty good, but it was a lot better. As I have said in my post, I'm more of an investor than a trader mainly due to lack of my time. I don't know how to be a part-time trader. For me, I must constantly keep a tab on the pulse of the market to feel what is really going on, and unfortunately I don't have time to do that. I actually almost prefer that someone else can manage the money for me, except that my performance has been consistently better by 5% for almost every month compared to my chosen money manager (who invest in the same sectors as I am). If it's just 1% or 2%, I would just let him do the job. But it's 5% to 10% difference, depending on the month. I simply can't ignore that big difference. That’s a good question. Terrible for the last two weeks, and you can see that from my recent posts. I’m about up about 3% YTD, and up about 20% since last April. It’s still pretty good, but it was a lot better. As I have said in my post, I’m more of an investor than a trader mainly due to lack of my time. I don’t know how to be a part-time trader. For me, I must constantly keep a tab on the pulse of the market to feel what is really going on, and unfortunately I don’t have time to do that.

I actually almost prefer that someone else can manage the money for me, except that my performance has been consistently better by 5% for almost every month compared to my chosen money manager (who invest in the same sectors as I am). If it’s just 1% or 2%, I would just let him do the job. But it’s 5% to 10% difference, depending on the month. I simply can’t ignore that big difference.

]]> By: financialscotchman http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-202 financialscotchman Tue, 23 May 2006 03:58:00 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-202 Its easy to make money in a rising market by taking on more risk...the question is how you manage that risk in a downturn. How are you doing year to date after the last couple weeks? Its easy to make money in a rising market by taking on more risk…the question is how you manage that risk in a downturn. How are you doing year to date after the last couple weeks?

]]> By: frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-96 frugal Tue, 09 May 2006 02:58:25 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-96 My bad. Thanks to the info from ML & Personal Finance Blogger, Fidelity and TD Ameritrade both provide services for money managers. I did email to TD & Ameritrade before they merge, and both got back to me negatively. I guess you really need to the right customer service representative. I have not seriously considered money management as a money-making business. So far, I only hope that I can increase ROI for those people who don't have a lot of savings (like less than $100K). If they want my free advice or stock tips, they just need to post in the blog. I will answer to my best. The only reservation that I will have is to respect my existing paid services. My bad. Thanks to the info from ML & Personal Finance Blogger, Fidelity and TD Ameritrade both provide services for money managers.
I did email to TD & Ameritrade before they merge, and both got back to me negatively. I guess you really need to the right customer service representative.
I have not seriously considered money management as a money-making business. So far, I only hope that I can increase ROI for those people who don’t have a lot of savings (like less than $100K). If they want my free advice or stock tips, they just need to post in the blog. I will answer to my best. The only reservation that I will have is to respect my existing paid services.

]]> By: Personal Finance Blogger http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-95 Personal Finance Blogger Tue, 09 May 2006 01:15:14 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-95 TD Ameritrade indeed does have an Institutional service. In fact this is a business segment they are starting to actively persure. See http://www.amtd.com/offerings/RIA.cfm. I too have been considering getting into the money management game. I have a good friend who does this, he's been in the business for many years, has a nice niche of clients and well over $50MM under management. This funds his team of 5 leaving him with a good salary that can continue even after he retires. TD Ameritrade indeed does have an Institutional service. In fact this is a business segment they are starting to actively persure. See http://www.amtd.com/offerings/RIA.cfm.

I too have been considering getting into the money management game. I have a good friend who does this, he’s been in the business for many years, has a nice niche of clients and well over $50MM under management. This funds his team of 5 leaving him with a good salary that can continue even after he retires.

]]> By: frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-36 frugal Tue, 25 Apr 2006 18:31:47 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-36 Thanks ML, I added yours to mine too. I will check out your website in more details when I have more time. It's quite difficult with two small kids, a full-time job, and a 85%-ready blog site. Thanks ML, I added yours to mine too. I will check out your website in more details when I have more time. It’s quite difficult with two small kids, a full-time job, and a 85%-ready blog site.

]]> By: ML http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-31 ML Tue, 25 Apr 2006 15:57:56 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-31 We are definitely on the same page regarding commodities. It's going to be a rough ride but I think the ultimate highs will surprise even the bulls today. As far as I'm concerned, there's nothing wrong with touting your numbers if that's what it takes for the mass to listen. I like your blog a lot. I'll add you to my blogroll. ML We are definitely on the same page regarding commodities. It’s going to be a rough ride but I think the ultimate highs will surprise even the bulls today. As far as I’m concerned, there’s nothing wrong with touting your numbers if that’s what it takes for the mass to listen.

I like your blog a lot. I’ll add you to my blogroll.

ML

]]> By: frugal http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-28 frugal Tue, 25 Apr 2006 04:04:17 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-28 ML, thank you very much for your encouragement. Blogging can be quite a lonely activity. While I'm trying to put out all of my best, sometimes it's cold shower all over the places. I have seriously considered managing money for others as you can see from this post. People may think 1% is a lot. I used to think this way too. But actually 1% is not a lot (for active management, but too much for passive management). Personally, I will need to manage $10 million dollar to replace my current wage. And whether I manage $10K or $10 million, I have to watch the stock market every trading day. The only motivation that has brought me so far is that I want to provide middle class a way to participate in this grand bull market of commodity (and therefore I don't have any minimum). I am feeling sorry for the coming squeeze on the middle class whose modest savings will simply get inflated away. My wife keeps telling me not to tout my return numbers to others. I'm a modest guy, but the only reason that I keep showing my numbers is that this is the only way people will listen to me. I'm so afraid of my friends & relatives getting poorer each day without knowing it....Inflation is upon us, and this is not about getting rich. This is about preserving buying power. Stay tuned for more of my posts. ML, thank you very much for your encouragement. Blogging can be quite a lonely activity. While I’m trying to put out all of my best, sometimes it’s cold shower all over the places.

I have seriously considered managing money for others as you can see from this post. People may think 1% is a lot. I used to think this way too. But actually 1% is not a lot (for active management, but too much for passive management). Personally, I will need to manage $10 million dollar to replace my current wage. And whether I manage $10K or $10 million, I have to watch the stock market every trading day. The only motivation that has brought me so far is that I want to provide middle class a way to participate in this grand bull market of commodity (and therefore I don’t have any minimum). I am feeling sorry for the coming squeeze on the middle class whose modest savings will simply get inflated away. My wife keeps telling me not to tout my return numbers to others. I’m a modest guy, but the only reason that I keep showing my numbers is that this is the only way people will listen to me. I’m so afraid of my friends & relatives getting poorer each day without knowing it….Inflation is upon us, and this is not about getting rich. This is about preserving buying power. Stay tuned for more of my posts.

]]> By: ML http://www.1stMillionAt33.com/2006/04/an-investment-platform-for-independent-money-managers/comment-page-1/#comment-26 ML Tue, 25 Apr 2006 01:55:32 +0000 http://www.1stmillionat33.com/2006/04/an-investment-platform-for-independent-money-managers/#comment-26 I throughly enjoyed that post, as well as the one on hunting for an advisor. I had some very similar experiences. I've come to the conclusion that other than a tax/estate planning specialist, a run-of-the-mill financial advisor has very little to offer me. BTW, I think that TD Ameritrade and Fidelity also have advisor/institutional services. Let me know if you have any takers. I'll be very interested in learning the composition of your portfolio. Cheers, ML I throughly enjoyed that post, as well as the one on hunting for an advisor. I had some very similar experiences. I’ve come to the conclusion that other than a tax/estate planning specialist, a run-of-the-mill financial advisor has very little to offer me.

BTW, I think that TD Ameritrade and Fidelity also have advisor/institutional services. Let me know if you have any takers. I’ll be very interested in learning the composition of your portfolio.

Cheers, ML

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