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Hello Warren,
Monday, December 06, 1999, 6:06:36 PM, you wrote:
WG> Mark,
WG> How would one have an "independently audited track record" without using
WG> trading account statements?
Yes you have account statements, I have no clue what they say or how
many other accounts you may have. You may be like Hillary and have
traded cattle as well as she did. But an Independent Auditor like most
every legitimate CTA in the business uses. Is paid to sift through all
that mush and put their stamp on the audit.
WG> What do you mean? Independently audited by whom?
One of the best in the business is Arthur Bell and Associates. There
are others, Arthur Bell audits 75% of the top CTA's in the country.
If you post your results based on what you yourself think your
profitability is then you will not be a CTA for too long. There was a
CTA recently who kept emailing me about how well he was doing and
months latter after the NFA audited him. I started to receive emails
telling what his true performance was and how he misrepresented his
trading profits. The NFA obviously instructed him to send out
corrections I BET he no longer thinks he can do his own book keeping!
The letter went something like this :
Due to the recent audit from the NFA, I will be recalculating all of
my performance numbers to reflect notional funding and split my
performance into two capsules to reflect a relative of mine as a
proprietary account. Please review the preliminary numbers. If anyone
can recommend a good CTA accountant please let me know.
See notional funding has long been a dirty little secret in the audit
trail. The facts are that there are to many who don't know enough about
this business and are to lazy to learn. Those who are not to lazy to
learn are being ripped off cause they cant tell a bad apple from a
good one till they bite into it.
So, Warren good luck to you in the business you have chosen.
WG> Warren Goldstein
WG> Commodity Trading Advisor (registration pending).
WG> Email: wsg@xxxxxxxxxxxxxxxxxx
WG> Website: www.wsginvestments.com
--
Best regards,
Mark Brown mailto:markbrown@xxxxxxxxxxxxx
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