Hiring a money manager

[rpr]

It seems that this money manager in Tampa is one of the best, but I am not proficient in this area. I'm big on due diligence so thoroughly check this out before you proceed.

I believe his 12-year average as of 2004 was 36% and in 2005 he was up 105%. He manages a lot of money (B). And he used to speak at the Economic Council of the White House. I think his minimum is 100K. Very smart quant, one day I was with him he made 1M in his personal account. Goldman Sachs offered to buy his company but he declined.

Any financial people have comments on this?

http://www.carnegieasset.com/hscm.php

[ QUOTE ]
I have been tracking the performance of 8,000 money managers and 7,000 hedge fund managers for almost 30 years. Year-after-year, over 95 percent of all money managers either lose money or they consistently underperform the market.


[The Money Manager's] ability to short the weakest markets, while simultaneously going long in the strongest markets produced a 105 percent gain in 2005, while the stock market (up only 5 percent) churned continuously up and down as the Federal Reserve raised interest rates.

[/ QUOTE ]

[DonButtons]

jively,

Thanks for posting! finanical planner/ advisor does seem more what Im looking for currently. Though down the road a short while I can see the use for a money manager as well given your description if poker really picks up.

So far Im a pretty aggressive investor. But never was really explained risk tolerance. Looked over some of those threads you posted and wasnt aware of the swings associated with different roi #s. Might need some talking about this more in detail to find my ideal #. Though I think I might be able to be in the 15-25% camp given my tough mentality related to grinding a lot of hands in per month and having some good new sources of income helps out.

Thanks for all the info. about the subject, truely a great post.

Ill pm you the other stuff since I somewhat should keep it private.

[DonButtons]

rpr, just saw your pm.

Those stats seem pretty sick. Though not sure how much this money manager handled in the beginning to get those returns, and seems since he got a lot more money recently it might get harder.

And I havnt really looked into a lot, but links like that always seem like a scam to me at first glance.

[Mr. Now]

You actually mean 'accredited investor', someone who matches this definition below. Such a person is assumed to be sophisticated enough to not need the umbrella of protections defined in the Investment_Company_Act_of_1940 and the Investment_Advisers_Act_of_1940.


Accredited:
http://www.sec.gov/answers/accred.htm

The Acts:
http://en.wikipedia.org/wiki/Investm...ny_Act_of_1940
http://en.wikipedia.org/wiki/Investm...rs_Act_of_1940