Wednesday, November 24, 2010

Final Pledge Update November 2010

This is the final update we'll be doing on pledges before 'go time'.   I've tried to clean up the list and eliminate those I have not heard from in the past 5-6 months, especially on the top end since that makes a dramatic difference in the total amount, so this is as accurate as it is going to get without spending another week checking through countless emails.   Taking a step back, it's a remarkable tally with over 410 investors... that's a 25% increase since May 2010.   The grand total is not far from $11.5 million; that does not include about $1 million I erased in my review of people who I probably lost during the process due how long this has taken me.   I don't blame them, anyone who has stuck around more than 8-9 months has far more patience than me (I'm a type A personality) ;)  Assuming some proportion of people lost in the shuffle over the years, this total should ensure I make to a break even level in the $7-$8M range and I might even be able to take a salary within a year.  (as a great TV philosopher once said: boo yah!)

Anyhow as I try to say often (but not enough) thank you for all those who (a) trust 'the small guy' enough and (b) had the patience along the way - some of my readers have been here since fall 2007, and quite a few began pledging from spring 2008 forward.  Plenty of others from 2009.  So I suppose those of you joining in the festivities in 2010, got the 'easy road' - only 11 months or less of waiting.


For newer readers here is my usual spiel:

If you are a person potentially interested and new(er) to the website, here are the pertinent posts to become familiar with the specifics.

  1. The overall goal and why I'm aiming for $7 approx million way back in early 08! [Jan 7, 2008: Reader "Pledges" Toward Mutual Fund Launch]
  2. Frequently Asked Questions [May 26, 2008: Frequently Asked Questions
  3. Why I need your state [May 23, 2008: Investment Pledges by State] Keep in mind a state's eligibility can be turned "on" overnight once we're up and running
  4. Most recent updates  [Nov 4, 2009: General Updates]
  5. Our story in Barron's [A New Kind of Fund Manager]
  6. Open an account direct or with a brokerage - which ones? [List of Brokers of Future Investors]

    Format for fund pledge: first name, last initial, pledged amount, and state you live in. To be clear, you are not sending me money that I'm going to hold until launch when you 'pledge' - you are simply making a verbal commitment: "when you are up and running, I have $X amount ready to invest". You can attach a comment to this post or as most people do, send me an email (my email address is found on the upper right of the blog) with the above information. I'd prefer an email if possible.

    Initial investment minimum will be $2500.  All types of accounts accepted just as any mutual fund.

    I've changed the format slightly for this last go around.  I've subtotaled all pledges by state (or foreign) so we can incorporate the individual pledges and the state totals in 1 format.   If you are unfamiliar with the reasons for the state designation I have to pay a fee to open in every state, which is why most small independent mutual funds only open in a few states.  No need to pay fees in states you do not have investors.  To make a break even proposition on the fees I generally need $45-$50K in investments, whether it be from 1 person or 10 people.   Therefore I am bucketing states in 3 ways:
    1. States that will be open before launch
    2. States depending on 1-2 large investors - these will be open immediately upon that investor buying shares.
    3. States with some activity but not yet near the threshold
    To be clear, once a state gets the required amount of money, the lights can be turned on within hours so please don't view it as a deterrent if your state is not in the first two groups above.

    One last key point - it is important to receive funds as soon as possible upon launch as (a) I can't buy, short anything without capital and (b) my expenses start immediately even if I have $0 in the brokerage to work with.   More nagging like this once we get closer to D-day.

    Here is the master list, sorted by location


    Name Amount State/Country
    John R 3,000 AK

    3,000 AK Total
    Bob B 50,000 AR
    A K 20,000 AR

    70,000 AR Total
    Armour B 50,000 AZ
    Alan N 15,000 AZ
    Pat L 10,000 AZ
    Ron G 10,000 AZ
    Werner C 10,000 AZ
    Jake P 10,000 AZ
    Tony B 10,000 AZ
    Ed S 5,000 AZ

    120,000 AZ Total
    Charles Y 100,000 CA
    F.A. 100,000 CA
    Diane H 100,000 CA
    Arun G 100,000 CA
    BMW 100,000 CA
    Zheng W 100,000 CA
    Alec / Cindy C 60,000 CA
    Art H 50,000 CA
    Brian L 50,000 CA
    Shang C 50,000 CA
    Scott W 50,000 CA
    Gang 50,000 CA
    Z G 50,000 CA
    Radha K 50,000 CA
    Chris B 50,000 CA
    John L 50,000 CA
    Kurt C+1 40,000 CA
    Dave H 40,000 CA
    Resmi A 40,000 CA
    Greg W 35,000 CA
    Rich P 30,000 CA
    Walt C 30,000 CA
    Jason N 30,000 CA
    Greg B 25,000 CA
    Tom L 25,000 CA
    Dana K 25,000 CA
    Brian C 25,000 CA
    Steven L 25,000 CA
    Dean D 25,000 CA
    Richard K 25,000 CA
    Robert A 25,000 CA
    Wesley W 20,000 CA
    Charles L 20,000 CA
    Judy M 20,000 CA
    Jason Z 20,000 CA
    JL 20,000 CA
    Tim D 20,000 CA
    Ben C 15,000 CA
    Dan A 10,700 CA
    Ron W 10,000 CA
    Sunil K 10,000 CA
    Anatoly S 10,000 CA
    Burt B 10,000 CA
    Raj 10,000 CA
    Marvin L 10,000 CA
    Mike C 10,000 CA
    Rohit G 10,000 CA
    Saran S 10,000 CA
    RJ V 10,000 CA
    Dinesh S 10,000 CA
    Andy K 10,000 CA
    Dan L 10,000 CA
    Peter L 10,000 CA
    Chris T 10,000 CA
    Tristan B 10,000 CA
    Ravi M 10,000 CA
    Henry C 8,500 CA
    Ervine H 7,500 CA
    Akash A 6,000 CA
    Nicholas M 6,000 CA
    Benjamin W 5,000 CA
    Ted C 5,000 CA
    Shannon V 5,000 CA
    Alven Y 5,000 CA
    Piyush M 5,000 CA
    Paresh P 5,000 CA
    Dinesh K 5,000 CA
    Naresh P 5,000 CA
    Jay S* 5,000 CA
    George  5,000 CA
    Ross T 5,000 CA
    James H 5,000 CA
    Adam S 5,000 CA
    George H 5,000 CA
    Dan W 5,000 CA
    Jay C 5,000 CA
    Julio S 5,000 CA
    Jason P 5,000 CA
    Robbie E 5,000 CA
    Dustin N 5,000 CA
    James W 5,000 CA
    Henry C 3,000 CA
    Sosho 3,000 CA
    Mark H 3,000 CA
    Giancarlo S 2,500 CA
    John G 2,500 CA
    Peter S 2,500 CA
    Tony G 2,500 CA
    Steven H 2,500 CA

    2,025,200 CA Total
    Alecia C 75,000 CO
    David H 50,000 CO
    Michael G 40,000 CO
    Adam B 20,000 CO
    Dieter  5,000 CO
    Seth 3,000 CO

    193,000 CO Total
    Chris M 50,000 CT
    Don C 25,000 CT
    Michelle T (Bob) 20,000 CT
    Mike H 15,000 CT
    Richard N 10,000 CT
    Boris S 2,500 CT

    122,500 CT Total
    Mark B* 25,000 D.C.
    Elaine C 20,000 D.C.
    Eloise  20,000 D.C.

    65,000 D.C. Total
    Tom E 5,000 DE

    5,000 DE Total
    Patrick L 100,000 FL
    Ron S* 100,000 FL
    Stephen F* 50,000 FL
    JoeM 50,000 FL
    Dave C 25,000 FL
    Gordon P 25,000 FL
    JH 25,000 FL
    Calvin K 25,000 FL
    Chris I 20,000 FL
    Mark R 20,000 FL
    Vic C 10,000 FL
    Wes T 10,000 FL
    Olivier N 10,000 FL
    George 10,000 FL
    Kevin D 5,000 FL
    Matt D 5,000 FL
    Bob H 3,500 FL

    493,500 FL Total
    Sandy S 150,000 GA
    Sean A 20,000 GA
    Andrew L 5,000 GA

    175,000 GA Total
    Jeff M 35,000 IA
    Mark L 2,500 IA

    37,500 IA Total
    Ian J 5,000 ID

    5,000 ID Total
    Vivek G 75,000 IL
    Eric N 50,000 IL
    Art K 30,000 IL
    Randy K 30,000 IL
    Leo S 15,000 IL
    Jeff B 15,000 IL
    Jay S 10,000 IL
    Jitender S 10,000 IL

    235,000 IL Total
    David S 50,000 IN
    Ben 10,000 IN
    Gary 10,000 IN
    Matt L 5,000 IN

    75,000 IN Total
    Mark S 100,000 KS
    Jake R 50,000 KS

    150,000 KS Total
    Bruce L 25,000 KY

    25,000 KY Total
    Gary J 100,000 MA
    Don D 50,000 MA
    John B 50,000 MA
    Tim S 50,000 MA
    RL 30,000 MA
    Vincent 20,000 MA
    Bill H 5,000 MA
    Junaid B 5,000 MA
    Bruce W 2,500 MA
    Ash T 2,500 MA

    315,000 MA Total
    Mark P 30,000 MD
    MB 20,000 MD
    Tim C 20,000 MD
    Raeann 10,000 MD
    David D 5,000 MD

    85,000 MD Total
    Ralph B 50,000 MI
    Mark 45,000 MI
    May L 30,000 MI
    Elia K 25,000 MI
    Mike M 25,000 MI
    Y.O. 15,000 MI
    Brian C 10,000 MI
    Rich S 5,000 MI
    Garret B 2,500 MI

    207,500 MI Total
    David Y 50,000 MISSING
    Tom K 50,000 MISSING
    Kevin S 50,000 MISSING

    150,000 MISSING Total
    Tim C 21,000 MN
    Tom S 20,000 MN
    Scott L 7,500 MN
    James W 5,000 MN
    Mark M 5,000 MN
    Ritchie H 2,500 MN

    61,000 MN Total
    Neil B 50,000 MO
    Jeff S 20,000 MO
    Nathan J 10,000 MO
    Marshall H 5,000 MO
    Tom E 5,000 MO
    Ralph A 5,000 MO

    95,000 MO Total
    Jerry C 30,000 MT
    Tom M 10,000 MT

    40,000 MT Total
    Scott G 80,000 NC
    Anita W 70,000 NC
    Brian H 35,000 NC
    Rosemary D 15,000 NC
    George L 10,000 NC
    Brian C 5,000 NC
    Colleen P 5,000 NC
    Paul F 5,000 NC
    Joshua R 5,000 NC
    Anli S 5,000 NC
    Dominic P 3,000 NC
    Lenin T 2,500 NC
    Anthony G 2,500 NC

    243,000 NC Total
    Raja S 20,000 NE

    20,000 NE Total
    Laura Z (CA 11) 50,000 NH

    50,000 NH Total
    Frank G 500,000 NJ
    Richard H 100,000 NJ
    Hui C* 100,000 NJ
    Vijay K 75,000 NJ
    David B 50,000 NJ
    Lisa W 50,000 NJ
    Pranav S 30,000 NJ
    Henric B 25,000 NJ
    Frederick S 20,000 NJ
    Tony D 15,000 NJ
    Andy/Diana H 12,000 NJ
    Eric W 10,000 NJ
    Adam B 10,000 NJ
    Jack L 10,000 NJ
    Harry F 10,000 NJ
    Ryan T 7,500 NJ
    Howard A 5,000 NJ
    Josh R 5,000 NJ
    Albert W 5,000 NJ
    Alex B 5,000 NJ
    Rama R 4,000 NJ
    B Shah 2,500 NJ
    Jordan L 2,500 NJ

    1,053,500 NJ Total
    Ted W 2,500 NM

    2,500 NM Total
    Andrew 100,000 NV
    Arun K 25,000 NV
    Tom S 25,000 NV
    Michael S 5,000 NV
    John S 3,000 NV
    Dennis T 2,500 NV

    160,500 NV Total
    Bob M 200,000 NY
    Norman L 100,000 NY
    Dena M 90,000 NY
    Janette C 50,000 NY
    Josh S* 50,000 NY
    Jon L 50,000 NY
    Peter G 25,000 NY
    Joe S 25,000 NY
    Rob T 20,000 NY
    Tim C 20,000 NY
    Marc E 20,000 NY
    Ken T 15,000 NY
    Gary M 10,000 NY
    Chris Y 10,000 NY
    Chris W 10,000 NY
    Omer 10,000 NY
    Eric H 10,000 NY
    Darren T 7,500 NY
    Rob #2 6,000 NY
    Atul R 5,000 NY
    Felipe V 5,000 NY
    Matt Z 5,000 NY
    Tariq 5,000 NY
    Joe C 5,000 NY
    Mark N 3,500 NY
    Bill A 2,500 NY

    759,500 NY Total
    David O 100,000 OH
    Dale K 50,000 OH
    Justin K 30,000 OH
    Rose N 20,000 OH
    Steve N 20,000 OH
    Adam M 10,000 OH
    Robert S 5,000 OH
    Dan W 5,000 OH
    Tom K 5,000 OH
    Eric R 5,000 OH

    250,000 OH Total
    Blake V 250,000 OK
    Nelson W 10,000 OK
    Dilip K 5,000 OK
    Ryan  3,000 OK

    268,000 OK Total
    Joe V 50,000 OR
    Darin P 20,000 OR
    Bob D 15,000 OR
    Jim C 5,000 OR
    Ted S 5,000 OR
    Michael G 2,500 OR

    97,500 OR Total
    Mark C 50,000 PA
    V.K.K. 20,000 PA
    Bill G 10,000 PA
    Jatinder M 10,000 PA
    Joe C 10,000 PA
    Walter/Mary B 5,000 PA
    Nathan S 3,000 PA
    Maki S 3,000 PA
    David M 2,500 PA

    113,500 PA Total
    Robert T 75,000 RI
    Heidi H 25,000 RI

    100,000 RI Total
    Robert D 300,000 SC
    John P 117,000 SC
    Doris S* 100,000 SC
    Bruce W 50,000 SC

    567,000 SC Total
    Steve 100,000 SD
    Bryan W 100,000 SD

    200,000 SD Total
    Dave S 20,000 TN
    Matt S 10,000 TN
    Ben M 10,000 TN
    Link M 10,000 TN
    Pankaj S 5,000 TN
    Lukas V 5,000 TN
    Kevin O 5,000 TN
    Brandon R 2,500 TN

    67,500 TN Total
    Ian* 50,000 TX
    Coby S 50,000 TX
    Doug M 40,000 TX
    Prince H 40,000 TX
    Shane V 25,000 TX
    Kenton K* 25,000 TX
    Ron W 25,000 TX
    Jason K 25,000 TX
    Samba V 20,000 TX
    Greg R 20,000 TX
    Robert T 20,000 TX
    Chip W 20,000 TX
    "Phong" 10,000 TX
    AZ 10,000 TX
    Alex T 10,000 TX
    Joe P 10,000 TX
    Jason D 5,000 TX
    Glenn J 5,000 TX
    Brian J 5,000 TX
    C Dilber 5,000 TX
    Chris R 5,000 TX
    Alok K 5,000 TX
    H.S. 2,500 TX

    432,500 TX Total
    Greg P* 300,000 UT
    Scott V 30,000 UT

    330,000 UT Total
    Madhu I 50,000 VA
    Brian D 50,000 VA
    Mike M 50,000 VA
    Jake D 37,500 VA
    Don G 25,000 VA
    Chair 25,000 VA
    TK 25,000 VA
    Zhong L 10,000 VA
    Matt G 10,000 VA
    Paul Z 10,000 VA
    Jack T 10,000 VA
    Kenneth Y 10,000 VA
    SJ A 10,000 VA
    Derek Y 10,000 VA
    Robert W 10,000 VA
    Lisa 5,000 VA
    Andrew 5,000 VA

    352,500 VA Total
    Kevin L* 130,000 VT
    Ron 20,000 VT

    150,000 VT Total
    Scott R 115,000 WA
    David I 100,000 WA
    Eric S 50,000 WA
    Chip P 30,000 WA
    Sean K 25,000 WA
    Cathy K 20,000 WA
    "Himalayas" 20,000 WA
    Linda A 15,000 WA
    Tyler 10,000 WA
    Danny N 10,000 WA
    Dylan L 10,000 WA
    Scott C 10,000 WA
    Ryan C 10,000 WA
    Charlie W 5,000 WA
    James L 5,000 WA
    Gene G 5,000 WA
    Liem 4,000 WA
    Seth Q 3,000 WA
    Mike H 2,500 WA

    449,500 WA Total
    Joe H 28,000 WI
    Erle H* 25,000 WI
    Karl W 25,000 WI
    Gary S 10,000 WI
    Jason E 5,000 WI

    93,000 WI Total
    Jason 10,000 WV
    Karl K 2,500 WV

    12,500 WV Total
    Ken 250,000 Z-Foreign Z-Hong Kong
    Juan D 100,000 Z-Foreign Z-Espana
    Adrian C 75,000 Z-Foreign Z-Romania/EU
    NT & JB 50,000 Z-Foreign Z-Canada
    Rob K 50,000 Z-Foreign Z-Canada
    Philip W 50,000 Z-Foreign Z-Espana
    Nick E 30,000 Z-Foreign Z-New Zealand
    Kumar K 25,000 Z-Foreign Z-India
    Shlomo S 25,000 Z-Foreign Z-Israel
    Anil 25,000 Z-Foreign Z-Switzerland
    Nestor T 25,000 Z-Foreign Z-Uruguay
    Anurag V 20,000 Z-Foreign Z-Germany
    Tomaz K 20,000 Z-Foreign Z-Slovenia
    S.E.H. 12,500 Z-Foreign Z-Singapore
    Stan T 10,000 Z-Foreign Z-Canada
    Steve L 10,000 Z-Foreign Z-Canada
    Kaz O 10,000 Z-Foreign Z-Canada
    Johannes K 10,000 Z-Foreign Z-Germany
    Barry R 10,000 Z-Foreign Z-Ireland
    Antoine F 10,000 Z-Foreign Z-Luxembourg
    Andre R 10,000 Z-Foreign Z-Portugal
    Howard L 10,000 Z-Foreign Z-UK
    Stockspeter 7,500 Z-Foreign Z-Canada
    Brian M 5,000 Z-Foreign Z-Canada
    David G 5,000 Z-Foreign Z-Singapore
    Harsh N 5,000 Z-Foreign Z-UAE
    KP 5,000 Z-Foreign Z-UK
    David X 5,000 Z-Foreign Z-UK
    Duncan M 5,000 Z-Foreign Z-UK
    Vivian W 5,000 Z-Foreign Z-UK
    Brad W 4,000 Z-Foreign Z-Canada
    Junyuan 2,500 Z-Foreign Z-Singapore
    Ward P 2,500 Z-Foreign Z-Sweden

    889,000 Z-Foreign Total

    11,414,700 Grand Total

    Gobble Gobble - have a good Thanksgiving and see you Friday


    Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
    This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

    Copyright @2012