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Doing it now. Get a partner and join up Me and Jeff are doing that exact thing. The competition has a pass word but if you get a partner and post then I will send you pass word. starting cash is 50k USD and CAD You will be interested in the USD one more I am sure.
My partner is 5th in Falkin IV and excluding my terrible experience with options I would be in a similar position. We are approving each others trades and or trading strategies. Our point of the competition was to do exactly as you are saying. To see if we can improve our results. we are less interested in individual results as we are in the aggregate score. He is a conservative investor and I am a bigger risk taker but still more conservative than most. We hope to get at least 30% per year returns with a relatively low amount of risk. I am using small amounts of options to hedge our positions 1% of port. I am using another 1% to speculate in options. Jeff is using diversity to hedge on his side of the port and is focussed on blue chips. We both will use about 5% each for Growth stocks. Pretty boring but the point of our experiment is to ultimately put our trading into real dollars in the market.
If you start a game we may be interested in joining it.
Joe
Makes sense to me. I would imagine a teammate if you could work together properly would prove to be pretty effective. It would almost be better I would imagine if u had two different strategies because it would force you to think outside the box and derive an effective solution...
Jeff and I talk constantly about specific stocks and industries. He is way conservative compared to me. If I have a burning desire to "gamble" or risk money I have to justify it to him. It makes me dot the i's and cross the t's. If he plans on going big into something we both look into it and quite often he will miss something and I will pick it up or vice versa. This has lead to some profits in the sim as well as some profits in his real money account.
I think it is a great way to trade/invest the trick is to find some one you can work with. Even Warren Buffet has his partner Charlie. It is just better to be able to share your ideas with some one you trust who will call you an idiot when you need it or will encourage you when you need that.
BuMp to that, and I agree. If you can find the right balance like anything in business it seems to end up working out great. If anything the saying of "two heads are better than one" stands out and shines in its own light. I think we are really just re-affirming common knowledge of business but in regards to the stock market it really can hold value.
How long have you guys been working together? Do you guys communicate once a week, twice? everyday? how did you set everything up for the most efficiency?
Jeff was 17 and I was 25 we both joined the army together. He wound up in Yugo in 92-93. We have known and worked with each other since June 89. 18 yrs this June. We talk often and were room mates on many occassions over the years. He taught me about stocks starting about five years ago. We know each other very well. I know what he thinks and he knows what I think. We can argue for hours about nothing or solve a problem in a few words.
Me and Jeff are doing that exact thing. The competition has a pass word but if you get a partner and post then I will send you pass word. starting cash is 50k USD and CAD You will be interested in the USD one more I am sure.
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