tag:blogger.com,1999:blog-2335748440449035592.post7280438126004789225..comments2008-04-23T13:56:18.863-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-2335748440449035592.post-46989976602401759172008-04-23T13:56:00.000-04:002008-04-23T13:56:00.000-04:00road,<BR/><BR/>No, my results do not account for expenses or taxes - Marketocracy.com does not have any measure for the long term/short term taxes thrown off. So I have no idea what it would be to be honest. <BR/><BR/>I expect expenses to be 1.5%-1.75% to start until it can scale with more assets. Once its larger it will go to a lower expense. No up front load or anything like much of my competition has. I think thats just a terrible idea. (loads)<BR/><BR/>I am not sure if the "peer group" results in Lipper, Morningstar, Kiplinger etc are adjusted for expenses or taxes either.<BR/><BR/>Taxes will be an issue for some because I have a lot of short term gains - which I try to offset with short term losses. But my turnover is similar to Ken Heebner who seems to be attracting assets in large quantities despite giving off a ton of short term taxes.<BR/><BR/>As bad as they are, taxes are better than the alternative (losing money)<BR/><BR/>Anyhow if I finish in the top 10 percentile vs peers year after year, I'll be happy and with or without taxes it will still mean I am near the top one way or the other. The exact placement I will be unclear on, until it's the real thing with a real compliance, accounting et al behind the scenes. But directionally this should be very accurate.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-32688960826168232092008-04-23T13:46:00.000-04:002008-04-23T13:46:00.000-04:00Mark, great job on the fund management and blogging, this kind of transparency is what 99% of the funds (mutual, hedge etc.) lack. Anyway, the returns you have above, are they adjusted for expenses & taxes? or is the general consensus "return" = asset appreciation?roadhttp://www.blogger.com/profile/11506703153439769181noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-5065363470564603462008-04-23T13:36:00.000-04:002008-04-23T13:36:00.000-04:00Mark.. If only you were open to Canadian investors... We've got these great things called loonies up here to barter with!<BR/><BR/>"the best independent market analysis on the web"Risk Manager Jeffhttp://www.blogger.com/profile/14994763012317049832noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-3427539772125878632008-04-23T13:05:00.000-04:002008-04-23T13:05:00.000-04:00Thanks Mike,<BR/><BR/>I get about 2 emails a week now asking why I don't just switch to a subscription site. They think its worth it. <BR/><BR/>Its a catch 22; my main goal is not to write a news letters - i want to manage money. So if I went to a subscription site I could potentially lose many future investors so at this point I need to give away the store for free instead of charging and hope people "repay" me by investing. <BR/><BR/>By the way, when I wrote subscription earlier, I mean it would be free to the people who invested in the mutual fund. It would just be "locked off" and you'd need your password or something to get in. Password available for $2500 initial investment in fund ;)<BR/><BR/>But thanks for the words - I've had quite a few people mention the same and a lot of nice "you taught me more in a 1 week than I knew in 2 years reading elsewhere" sort of emails which keep me going. This is a lot of work. I hope it pays off in the end. I'm giving it 2 more years and if its a bust, its a bust.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-44400385742533965922008-04-23T12:45:00.000-04:002008-04-23T12:45:00.000-04:00You have created am amazing resource for individual and professional investors. I certainly believe that keeping a "pay site" and "free site" is worthwhile in the future.<BR/><BR/>I have been reading since early October and I find your insight invaluable. Keep it up. If you charged me to keep reading...I would pay.Mike Maslandhttp://www.blogger.com/profile/06275851037612575206noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-4467725569279842542008-04-23T12:28:00.000-04:002008-04-23T12:28:00.000-04:00Also, I'll probably keep a free website as well, and transfer maybe 3-4 posts a week from the "investor" blog to the free website...<BR/><BR/>Still thinking all that out, and it is too far away to really make any plans. Still working on the "convince people" phase. I see I will need to really whip the pants off my competition to attract money. So far so good.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-38297118576630562322008-04-23T12:27:00.000-04:002008-04-23T12:27:00.000-04:00Mike,<BR/><BR/>I'll probably keep it going, via subscription for fund investors. I want them to know what is going on with their money i.e. transparency. I believe that will be a big selling point and I'll attract a more engaged type of investor. It also is somewhat educational (I hope) and will help people (I hope) not panic when they see the fund down 3% in a week or something like that. They will understand why, etc and won't be prone to panic selling like most run of the mill investors.<BR/><BR/>I plan to have the top 5% percentile of investors ;)TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-57900836754723730872008-04-23T12:03:00.000-04:002008-04-23T12:03:00.000-04:00Great job!<BR/><BR/>I will really miss your website once you get the fund started :PMike Maslandhttp://www.blogger.com/profile/06275851037612575206noreply@blogger.com