I recently got into a heated online discussion with a young man that was pitching an investment fund on an internet chat board. It all started with someone asking for thoughts about how to invest the proceeds of a business sale.
“I’ve got an Algorithm with your name on it. It’s up +18% over the last 5 months while market is down around -8% over same period,” replied the would be Wolf of Main Street.
“It's a long/Short algo that auto trades only S&P futures currently, with limited exposure. Somewhat the opposite of HFT. We have small group of investors, very high net worth types. Launched in July and was in development for about a year prior to that. I can email you if you're legitimately interested.”
Sounds legit, right?