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What can one expect from cold calling? $$

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Jan 21, 2010 8:48 pm

I never thought I would say this, but I agree with you Wind. People need to zip up their pants and realize that he has accounts in which he has discretionary trading authority. He didn’t do 350k gross because he brought in 35mil in 1% wrap accounts in year one or two. Gaddock is obviously doing a great job and has found a niche that fits him perfectly. It needs to be pointed out that the way he is building his book and managing money is different from 99% of us. It isn’t financial planning, it is trading.

Jan 21, 2010 9:08 pm
Ron 14:

I never thought I would say this, but I agree with you Wind. 

  Holy crap, do I smell a truce Ron?
Jan 21, 2010 9:12 pm

I think thats my pants. I had chili for lunch. Luckily the weather is keeping people out of the branch today because it smells like an outhouse.

Jan 21, 2010 10:32 pm
Ron 14:

I never thought I would say this, but I agree with you Wind. People need to zip up their pants and realize that he has accounts in which he has discretionary trading authority. He didn’t do 350k gross because he brought in 35mil in 1% wrap accounts in year one or two. Gaddock is obviously doing a great job and has found a niche that fits him perfectly. It needs to be pointed out that the way he is building his book and managing money is different from 99% of us. It isn’t financial planning, it is trading.

  First off, thank you ALL for the positive comments. I've learned more than I can quantify by reading peoples thoughts and experiences on this BBS. Thank you all.   Ron, not sure where the "People need to zip up their pants" comments comes from and I guess I don't want to know.   Ron is correct. My business model is different from any I have seen. I feel planning is very secondary to making money. All my efforts have been in finding and executing high probability trades that diversify and hedge the account(s). My gig is to keep the account(s) "market neutral" Any direction the market goes will allow us to have a desired effect. Today I was selling puts and buying back calls. The constant hedging is why my overall beta is .57.   I created software that searches the market for these high probability trades and a way to always monitor them to insure they remain 'in tolerance'   I only take trades that have an 85% probability or better. That means nothing on any one trade but the larger the sample becomes the more validity the probabilities have. My sample is getting larger and larger by the day.   Example. I found a trade that used a buy and sell on an option that resulted in a 18% credit on a February expiration. It has a 97% probability of success. That's the kind of edge I LOVE and create on a daily basis   Beyond the cold calls I've received some huge referrals that are centers of influence the keep the snowball rolling down the hill.   That's kind of it in a nutshell.
Jan 21, 2010 11:18 pm

And I will add this… For you guys who have made it in this business and are pulling in 100k/200k plus with little or no effort you would be an idiot not to contact Gaddock and open an account. What he is doing beats any “alternative” forms of investing that seem to be sprouting up in all corners. I don’t know Gaddock at all outside of this forum and I benefit in no way from promoting his services. In fact, half of the time we are going after each other on this site. What I will say is I have significant floor trading experience and I understand the opportunites. There are very few ways, if any, in which the average investor can benefit from market volatility without murdering themselves. His use of options provides this opportunity. PM him, liquidate 10-15% of your sh*tty American Funds Portfolio, and send him a check.

Jan 21, 2010 11:23 pm
Ron 14:

I have significant floor trading experience …



How often do you take turns? Make sure you wear your knee pads.....:)...Sorry buddy...Had to...
Jan 21, 2010 11:39 pm
Ron 14:

And I will add this… For you guys who have made it in this business and are pulling in 100k/200k plus with little or no effort you would be an idiot not to contact Gaddock and open an account. What he is doing beats any “alternative” forms of investing that seem to be sprouting up in all corners. I don’t know Gaddock at all outside of this forum and I benefit in no way from promoting his services. In fact, half of the time we are going after each other on this site. What I will say is I have significant floor trading experience and I understand the opportunites. There are very few ways, if any, in which the average investor can benefit from market volatility without murdering themselves. His use of options provides this opportunity. PM him, liquidate 10-15% of your sh*tty American Funds Portfolio, and send him a check.

  Wow! Ron ... you OK? do you have a fever? he he. I know we have had our differences, pretty much nothing but differences. Not sure if you're serious or just have a very smooth way of sarcasm in mammoth proportions.   Either way you slice it I do have to hand it to you. The only guy that truly understands the larger part of my strategy is a bank broker. Who would have ever thought that. Reality is truly stranger than fiction.   PS I still have not traded one single position that my clients have. I'm still the emotional wreck I always was
Jan 21, 2010 11:47 pm

I am being dead serious. Our arguments in the past were always about trading for yourself vs trading for clients and I think we understand each other on that.

Jan 21, 2010 11:54 pm
Ron 14:

I am being dead serious. Our arguments in the past were always about trading for yourself vs trading for clients and I think we understand each other on that.

  Damn ... coming from you that means a lot, thanks. As I said I can't do it for myself. I thought about just taking small positions but then decided I would be screwing my clients by introducing my emotional baggage and it's distortions of fact and reality into the formula. Next time I put money into any mutual funds I'll give you the business, for real.   I've decided to invest in vintage machine guns in an NRA trust for my retirement. Believe it or not one can make huge profits if they know what they are doing and are on good terms with the local Sheriff.
Jan 22, 2010 12:24 am

hey gaddock inbox is full…

Jan 22, 2010 12:58 am

PM me your email address and I’ll send you a list.

       
Jan 22, 2010 1:14 am

Gaddock,

  What do you think the capacity is for your strategy (as in at what AUM limit would you not be able to do this effectively)?
Jan 22, 2010 1:25 am

Its kind of hard to say but I want my book to eventually have 20 to 30 accounts with 3 million plus in them. I see this as a real possibility in the next 3 or 4 years. Since no position exceeds 3% of the account size even when using leverage I don’t see an economy of scale issue under 6 or 7 hundred million.

  Truth is I can only speculate as in truth I have no idea.
Jan 22, 2010 1:28 am

Gaddock



Did you open all these accounts with appointments or over the phone?

Jan 22, 2010 1:35 am

All in person or by mail after I met in person.

Jan 22, 2010 1:41 am

Interesting.  Let me know when you are shopping for a CCO for your future RIA.

Jan 22, 2010 1:46 am
mlgone:

[quote=Wet_Blanket] Interesting.  Let me know when you are shopping for a CCO for your future RIA.[/quote]

GAY

  JANITOR   If you ran a real business you'd not have time to post here all day.  Look for stupid pictures.  Be your witty gay self.  Go back to cleaning tool box.
Jan 22, 2010 1:55 am
mlgone:

[quote=Wet_Blanket] Interesting.  Let me know when you are shopping for a CCO for your future RIA.[/quote]

GAY

  What?  It's not like I asked for nudes.
Jan 22, 2010 1:56 am

inspiring. thanks gaddock and congrats. im curious about 2 things-- first, what firm are you with that your collecting commissions so quickly rather than being on a flat training salary for your first couple of years? and what made you leave the trading job you had prior to this?

Jan 22, 2010 2:07 am

It’s pretty bad when Mel backs me up.