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Mark:
It has to be with commodities futures right? Restated, NOT
with stocks, options or mutual funds, right?
Charles
-----Original Message-----
From: Mark Brown <markbrown@xxxxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>; Phil Lane
<accumulator@xxxxxxxxxxxxxx>
Date: Saturday, March 13, 1999 12:20 PM
Subject: Re: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
>
>>>I am soliciting 10 people to be given 500,000.00 each in funds to manage.
>>>
>>
>>Hi Mark,
>>this sounds pretty interesting. So I'll bite. Is it a contest or
something?
>
>
>Not exactly a contest, where maybe total percentages of returns would be
the
>deciding factor of who wins. But rather a TALENT search for serious
>upstarts that wish to eventually trade 100's of millions of dollars. The
>outcome of all this may lead to their being several winners. A winner in
my
>mind would be someone who not only makes a profit, but also can control
>drawdown to a tolerable level. Many traders can make money, but you would
>never get to enjoy it because the clients would die of a heart attack while
>on the trip. So I cant say if there would be a winner or not, all 10 of
the
>CTA's picked maybe winners. They maybe all losers, but if the profits are
>there and the drawdowns can be tolerated and contained within the confines
>of how they are represented at the outset. Then somebody(s) will be very
>happy if they want a shot at MUCH bigger capital to trade. This is not a
>publicity stunt put on by some brokerage firm ect. its a serious talent
>search, there is much more that I am not able to tell at this time. All
>registered CTA's in good standing are welcomed to submit real or
>hypothetical performance along with a disclosure document.
>
>>May I assume that the standard %20 incentive fee applies?
>
>the disclosure document that you send should spell out the appropriate
>
> fees that a money manager would want to charge. i would caution that the
>fees ect. will have a direct impact on a traders net profits to the client.
>so while large fees maybe paid if you wish it will not benefit your long
>term relationship at all. the typical 2/20 is favorable or any variation
>of those numbers that is close would be preferred. then again each case
>will be considered individually.
>
>ps while you would think i have had thousands of offers, i actually have
had
>less than ten so far. so if someone knows of some money manager that
believ
>es he can produce exceptional returns then please have them contact me.
>
>mailto:half-a-million@xxxxxxxxxxxxx
>
>mb
>
>
>
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