Wanna fun a fund?

Discussion in 'Money & Investing' started by MenInTights, Sep 19, 2005.

  1. MenInTights

    MenInTights not a plastic bag

    Wanted to pass this one on to everyone that likes following stocks. I have been running a 'virtual fund' on Marketocracy.com for a few years. It has been a great learning experience. You run a fund on the site and the top 100 funds get pooled together into a real mutual fund. Best of all, those 100(M100) get paid to run the fund. It's pretty cool. I've made M100 4 times. Here is my manager page at Marketocracy:

    http://www.marketocracy.com/cgi-bin/WebObjects/Portfolio.woa/ps/ManagerPublicPage/login=swatson1

    When investing, you have to follow fund rules for compliance. It has taught me a lot about diversification and managing risk.
     

  2. Mirage

    Mirage Administrator Staff Member V.I.P.

    I can't get into those but I probably should. The reason I don't like them is when I do well on them I figure I may as well have just invested with real money and made money. :)

    Of course those are great when you lose money, since you haven't really lost it, but the way I see it is it's just like playing poker for money, or for chips. If you play for money you play one way, and if you play for chips you are less worried about how it turns out. Just my observation.
     
  3. MenInTights

    MenInTights not a plastic bag

    You should see my track record when they started paying me. I swear, I tanked under pressure. It will be awhile before they consider me again. What works for me is, it is a good way to keep up with hunches. It also is sobering to see your fund down 10% when you really screw up. It's educational. If nothing else, you learn that you're not that good and you need to do a lot of research to stay on top.
     
  4. GunshySlycat1

    GunshySlycat1 New Member

    I joined. It's pretty cool. Let's see how bad I do heh
     
  5. stockbroker

    stockbroker Registered Member

    It happens to everyone spence. I trade forex and manage a couple accounts. Managing someone elses money is 10 times harder than your own.
     
  6. Mirage

    Mirage Administrator Staff Member V.I.P.

    That's probably true, but at least you aren't quite upset when it goes down... but breaking the news to them is the part that's hard.

    That's why I only trade with my own money. Sometimes I have to kick my own butt over some decisions though (bad trades, etc). :(
     
  7. stockbroker

    stockbroker Registered Member

    Maybe not so upset, but my income is 100% trading so losing sucks. :(

    Managing money is not only time consuming but stressful. I hate taking trades that I wouldn't just so I could post gains on their account for that month.
     
  8. Mirage

    Mirage Administrator Staff Member V.I.P.

    My income was 100% in trading for a while. Was up quite a bit from my starting point at one time too. Now I've pulled out of the stock market to do other things, but I definitely plan to get back in soon. :)
     
  9. stockbroker

    stockbroker Registered Member

    I'm trying to automate some of my strategies. If I can get them to the point of successful automation my perpetual cash generating machine will be unstoppable. :lol:
     
  10. MenInTights

    MenInTights not a plastic bag

    Stockbroker,
    do you have a series 7? I've thought about pursueing it, but I'm not sure if I could get sponsored.
     

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