Some information I was able to get from Errol:
1. 141's priority is to get their trading systems up and running as this is the quickest way to revenue.
2. What 141 will be doing is quite simple. As a CTA, 141 is permitted (via a power of attorney) to trade investors’ money.
3. These do not have to be accredited investors. They must, however, be provided with a copy of 141’s Disclosure Document after approved by the NFA (141 is in that approval process).
4. This being said, the broker with whom the investor opens an account will have its own “suitability” standards.
5. 141 will be using its trading programs to trade derivatives products listed on the world’s commodity exchanges. The investor must open a brokerage account.
6. 141 is compensated by receiving a monthly fee, typically 1 1/2 to 2% of the value of an account on a monthly basis and a percentage of the monthly profits, currently, up to 30%.
7. They have not quite determined the minimum account required per account. This will vary depending upon the amount necessary to make viable trades in different markets such as crude oil versus corn, etc., and the goal of the program i.e. long term vs. short term.
8. 141 will be trading its own money and/or customer money.
9. The other line of business that 141 is pursuing is providing customers trading recommendations. This will be done on a monthly subscription basis, initially via email using SpoozToolz.
10. The customer would be able to make the trade with his or her broker using a template that will work on SpoozToolz.
11. Ultimately, they are looking to provide recommendations by cell phone where the customer would be able to execute a trade recommendation directly from his or her cell phone.
The secret to profitable investing is to buy into well-run companies at the beginning of their earnings growth cycle—before Wall Street takes notice and bids up the stock price.
My opinions are my own. You have to decide and do what's best for you.
The secret to profitable investing is to buy into well-run companies at the beginning of their earnings growth cycle—before Wall Street takes notice and bids up the stock price.
My opinions are my own. You have to decide and do what's best for you.
