That said, we do continue to grow as a website - traffic is maintaining on the website, and the email subscription list has jumped from the 600s a few months ago to just under 1000 today. (how many of these people actually make it to the website on any given day I don't know) I'm also somehow the 4th most followed author on Seeking Alpha, with 500+ readers "bookmarking" me there. (David Fry, your days are numbered!) ;)
Most popular authors
(tracked in watchlists)
- David Fry(1097)
- Philip Davis(630)
- Bespoke Investment Group(590)
- Trader Mark(534)
- David Merkel(407)
That said, I have spent all my time on CONTENT on this site, and nothing on the actual look/design of the website since about a year ago. The reason for that is, as mentioned above, I thought we'd be moved within a few months from now to a shiny brand new (web) location with a professional look, under the banner of the actual mutual fund so why waste the time making this site "pretty". But as they say... the greatest plans....
So for now it looks like we are going to be "here" for a lengthier amount of time unless a few multi millionaires decide to pledge some boffo dollars in short order based on my scintillating content and prescient calls. (not counting on it) Up through now we've had zero advertising, and since we won't be morphing to a new "mutual fund" site any time soon, I am going to be looking to introduce some ads while also trying to make the site look more streamlined and easier to navigate. The main focus of this site has been to draw traffic so I can find investors - and through summer 2008 that was working very well. Now, I think it's a site many people who are investing for themselves along with some professionals are reading for insight to the market/stocks (New York City, London, and Singapore are 3 of my 10 reader locations almost every week). So it's a bit of a catch 22. Quite a few people have asked why don't you switch to a subscription site, offer some content for free and then for a decent yearly fee the rest. Quite a few sites do that but again, when I began this the idea was to find investors, show my thinking, my thesis on sectors, my economic calls, and build credibility - and that's it. When I see all these "professional investors" that have lost untold billions, or 40-50% of their investors money, and missed this entire cause of this downward spiral it does get frustrating when you cannot even raise $10 million which is a rounding error for most institutions, but that's part of the inefficiency of life I suppose.
So with that said, as one can see there is a ton of work put into the site and for a year and a half it has been essentially all just as a "hobby". It's a lot of work for zero revenue - I would like to continue the "work" (since I enjoy it) but find a way to actually make it beneficial financially as well. And begin to be able to find more than 4 hours a night to sleep. So we'll see how things go here in the next quarter or two, and what opportunities might avail themselves. But specific to the website - don't be alarmed by changes in look that might be coming over the next few days/weeks as we try different things. Anyhow, that's an update on that angle and as always, with all the choices on the internet, I appreciate the continued and growing readership.
7 comments:
TraderMark -- my best wishes to you as you tread your trail. Someone as bold and determined as you deserves to succeed.
I am on a similar quest in the institutional money management space -- I have a good track record with my own money, but am working to get my first client. I have a lot of people interested, but until I build up $10 million in assets, most don't want to commit.
And, as an aside, I never knew that I was the fifth most bookmarked at SA. What a hoot. Thanks for letting me know -- I'll likely not get that much higher (and will probably drop from there) because I'm too much of a generalist. There are specialists that usually know more about any given area than me.
Hi David,
I didn't know you read the website; I love your ETF stuff on TheStreet.com
It is funny how there is a disconnect between capital and those who can do something with it. I guess the path to manage money is MBA at top college, get into one of the 5 investment banks... wait did I say 5?
and then you have the right "pedigree"
Pedigree is all that matters
Did you read Liar's Poker? I saw an article on Portfolio.com by the author and it pretty much explains the "game". A lot of people with nothing but pedigree and nice suits ruining the system and their investors.\
Here is the article - its lengthy and tails off more on this entire debacle but I need to go read the original book sometime. I'm sure it would be a fun read.
http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom
It seems the way to go is to be a RIA first - work with individuals and, and then launch a mutual fund second. That's how most small funds appear to be born. I guess I am going backwards. But it isn't easy raising money in any of those areas I suppose!
I'm a generalist as well, my body of knowledge is broad but only deep in certain areas.
Anyhow, I'm working my tail off and just hope that light at the end of the tunnel is not the train :) I just sit in revulsion each time I see a Merriweather get hundreds of million after he already lost billions the first time and people keep giving money to the same folks who are destroyers of capital.
It's awesome to know you know about the site! p.s. don't pass me on Seeking Alpha or else ;)
Dave and TM: from my perspective it is hard to believe David Fry is #1; when I read his stuff I always ask: "how does this help me make money tomorrow or the next day?" Not! I am critical of most technicians because they are generally calling yesterday's horse race today. Got it?
One other thing that someone once told me about managing money or working on Wall Street: they locked the door, threw the key away and they ain't letting you in. Just be prepared
re: Fry
Never read his stuff so I am unfamiliar. I do see him as the headline guy on the front page of Seeking Alpha I'd say 8 out of 10 days since he writes a "daily summary" so they are using him as the lead in. Hence probably the following? Not sure. I just see his name almost every day on the top 5 stories on Seeking Alpha front page.
When they put one of my stories in those "top 5" stories at the top of SA I usually see some traffic spike so it gets a lot of attention. Thats premium real estate.
re: your last point. It's their game - why would they give it up? Perhaps a combination of GuyMerkelTM Asset Mgmt will come in the end ;) If you combine 8 blogs maybe we can scratch up $20M together hah.
That is the key; it is their game; I tried to make that point on another website that the information overload of the internet analyst has not helped investors one bit; so what was the point of all the information if the analysts didn't know what to do or if it didn't really affect the bottom line anyway. This is not to say that there aren't bright, thoughtful and well meaning people out there as there are. It is just that most of stuff out there probably sustains the prominence of individuals who are just average. Once again create an aura that it is important.
Dear TraderMark,
I have been in entities related to this business for 20+ years, as an actuary and financial analyst. With a few notable exceptions, most do go the RIA route and then do a mutual fund.
I am going that way as well, with the goal that when I have enough assets ($100 million), I can offer a mutual fund for small investors at reasonable expense levels. It would be a breakeven proposition initially.
Anyway, that's my goal. I have no idea if I will reach it or not, but I do know that I have outcompeted 90% of all equity managers.
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