Saturday, December 27, 2014

Why Financial Advisors Don’t Show Their Returns


thinking
Financial Advisers: Show Us Your Numbers was an article written by Jason Zweig a couple of months ago that did not get much press, its mind boggling actually,  especially now when everyone with a blog is consider a pro and guru.  Here is a short excerpt from the piece.
“If you want to know the track record of a mutual fund or exchange-traded fund, you can look it up in a matter of seconds online.  But what about the track record of a financial adviser who is offering to pick investments for you?  
“I have to think investors would want to know that, but I don’t know how many are actually asking for it,” says Charles Rotblut of the American Association of Individual Investors in Chicago, a nonprofit with 170,000 members nationwide.
“If the adviser is talking about how much return he can get for you,” adds Mr. Rotblut, “then it’s a very fair question” to ask him what his own returns have been.
While some financial advisers who cater to individual investors are willing to calculate and report their own average historical returns, the vast majority still don’t—and probably won’t until investors smarten up and start demanding it.
“It’s baffling to me,” says Tim Medley, president of Medley & Brown, a financial adviser in Jackson, Miss., that manages $575 million and publicly updates its performance monthly online. “The advisory business has grown dramatically, and I would have guessed that by now a lot more advisers would be posting their rates of return on their websites.”
Mind you, every client opens and closes accounts at different times, in a variety of investments, with various levels of risk. But that doesn’t mean an advisory firm can’t calculate the average return it earns for its clients. Every investor in a given mutual fund also is unique, but all mutual funds report their past returns in the same standardized format.”
The way I see it, they are some real grey lines with showing performance, the rules themselves don’t make it clear for those who want to do it.  I see some RIA’S that do it with a million disclosures, I have seen mutual funds that say their numbers are hypothetical on their main site but are the same numbers that morningstar reports, so they are not really hypothetical, some just post back-tested results.  Like everything else in life for most people, if you have good numbers you want to show them and if you don’t then you don’t want to show them.
Zor Capital LLC is a New York based investment management firm, founded in 2011. Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tuesday, December 16, 2014

The Current State Of The Market

–These are the facts about the current state of the market.  These are not opinions nor I’m I trying to imply what the next move is, the information below should give you an idea of what to maybe expect.
–The SP500 is down 4.96% from its all time high which it reached on 12/5/2014, the average correction since 2009 is 6.7% lasting on average 16.9 days.  The average correction this year is 5.3% lasting 16 days, we are at 4.96%.
–The VIX is now higher than the future months, since 2010 the returns after this happening have been mostly positive and promising. Chart here
–The VIX is now 39% above its 10 day moving average and up 76% this month with SP500 down only 4.96%.
–The average VIX spike since 2013 from the $12 level has been roughly 64% we are at 76% now.
vix
–Telechart’s McClellan oscillator closed under -200, dead cat bounces start from these levels, see chart below.
spx
–The stocks that were holding up well finally got hit today $FB $KORS $UA $Z to name a few.  What got hit first, the oil names, they were the ones that closed up today.  FIFO, first in first out, (oil names are probably only good for a dead cat bounce).
–The Russell 2000 and the Microcaps are holding up better than the DOW and SP500 since we peaked on 12/5,  many view that as a positive, some might say that the smaller names have less overseas exposure (perhaps Russia) so they are holding up better.
iwm
A proprietary indicator from Pradeep Bonde has spiked to a level that has led to bounces.
RUT
–Even with today’s reversal we had more stocks up from the open than down.
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Saturday, December 13, 2014

15 Tips To Improve Your Trading

bullseye

  1. Tune out the noise (maybe the financial news).
  2. Tune out the noise (maybe social financial media).
  3. Tune out the noise (maybe the indices, Dow Jones, SP500).
  4. Figure out what your edge is.
  5. Learn how to lose and accept it, you will be wrong 50% of the time if you are good, if you are great you could be right 30% of the time and still make money.
  6. Try to eliminate any bias to a stock on your watch-list. On any given day you don’t know what stock will be the big winner so you have to be able to pull the trigger on the ones that trigger and play the probabilities.
  7. Know your time frame and yourself. You can produce large gains with many trades and low volatility or with a few long term position trades with higher volatility.
  8. Constantly go over your recent trades and watch-lists to see what is working and how its working.
  9. Tune out the noise, I’ve been browsing some books lately, one of them the author says he made all his money buying IBD type stocks; over $15 dollars, accelerated growth and E.P.S etc, and the other guy made a fortune doing almost the exact opposite with beaten up stocks left for dead. Know what is important within your trading time frame, and do your own homework. Money can be made with all type of stocks, a lot depends on what the market is favoring and your time frame.
  10. Come to play everyday, be prepared especially on the down days.
  11. Know your advantages; don’t trade like Fidelity Contrafund unless you are moving billions of dollars like them. Liquidity is completely relative on the size of your portfolio.  A stock that trades only 250k shares might not be liquid enough for a billion dollar fund but it is for most retail clients.
  12. Constantly try to improve by recognizing and working on your weaknesses.
  13. Try to stick with the trend, don’t let what you think is logical stop you from believing in the trend. This is when tuning out the noise helps.
  14. Position size and risk management is the key to all this.
  15. Stay humble, biggest draw-downs normally come after big up swings. The minute you feel euphoric take some chips off the table.
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets
Photo; John Chapman

Saturday, December 6, 2014

What You Can and Cannot Control In Trading

buy
  • You can control how much money you put behind the idea.
  • You can control which markets you trade in.
  • You can control how much you are willing to risk per trade barring any gap downs, or halt situations that might impact you negatively.
  • You can control what type of stocks you buy, big caps, only small caps, only over $20, only under $10, etc…
  • You can control what type of set ups you buy.
  • You can control when you get in or out, barring a halt.
  • You can’t control the outcome of the trade.
  • You can’t control how the market will react to news, try not to impose your views too much.
The point is not to fret over what you can’t control, once you put the trade in along with your stop for the most part everything else is out of your control.
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets
Photo; TheGurusEye

Wednesday, December 3, 2014

Trade Ideas 12/3

These are the stocks on my watch-list today that I have for 0-5 days swing trades, the few shorts are 0-3 days ($V $HSIC $CSCO $GD $DPZ), shorts trigger and are actionable if and only they go through yesterday’s low.
Here is the entire list; Trade Ideas  I made some specific commentary on a few names and how to play them onStockTwits
The Process;
Every morning I go through a few of my scans to find buy candidates for the day.  Depending on the current state of the market the size of the list will vary, usually its no more than 50 names.  My process is based on market structure not on beliefs or myths of what works– or what doesn’t work.  They are certain behavioral patterns that have been around for 100 years that are based on market structure, these behavioral patterns are recognizable, observable, and quantifiable.  On daily basis we have 3,000 stocks that we filter based on certain market structures that gives us an edge of a higher probability than a random outcome.  Once the list is narrowed to a handful of names the market will further narrow down the list by getting us in or keeping us out of these names with a range expansion move.
I don’t look at charts in your conventional cookie cutter manner, or have rules as to where the stock should be whether its 15% off its 52 week highs or above or below certain moving averages etc…
These are what I consider “tight set ups” that will trigger a buy signal for me if  and only when they break the previous day’s high.  On a regular trading day I would indiscriminately take every trigger because you just don’t know which one will be the big winner, you might have an idea but in the end you don’t know.
How much you put at risk per trade depends for the most part what your current outlook is for the market over the next 0-5 days.
Put these names on your trading platform, set the alerts at yesterday’s high for each name, once the alert goes off take a look at the chart, decided within 3 seconds whether or not you are going to buy it, decide how much you want to risk on the trade and your stop loss, hit the buy button, and leave the rest up to the market, wash, rinse, repeat.  Buy’em tight, Sell’em loose.
A few things that you should know about this swing strategy;
  •  Its main goal is to get you in when stocks are moving and keep you out in choppy/sloppy markets, it is imperative that you allowed the market to get you in only when the stocks go through their previous day’s high.
  • Your awareness of how the market is behaving is crucial, this will give you an idea of how hard to push the envelope.  My best indicator for this is my rolling 5 day watch-list.
  • Swing trading is a numbers game, you are going to be wrong half the time, risk management is above all, and many times you will have nothing to do because the market did not get you in. We are not looking for any action, we are looking for the right action.
  • Don’t be penny wise, don’t try to anticipate a move just because the chart looks good.  You can have a great looking tight set up with a stock coiling for 10 days but who is to say that it won’t coil for another 5 days.  If you anticipate the range expansion you might buy something that is not ready to go and it will only frustrate you and lower your odds of a winning trade.
  • For me this list is a one way list – long bias.  I do not look at this list as a long or short list, long and short are two different games with different dynamics.
  • You need to be extremely organized.  Most if not all your work will be done pre-market and you will spend the day just executing or you can just automated it with buy orders after 9:45am.

Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

Saturday, November 22, 2014

This Is The Only Way To Invest

one
It seems like the tone in the blogsphere arena nowadays goes something like this—if you are not investing/trading like we are then you are wrong and we are going to tell you all about it.  I’ve been in the business since 1997, straight out of college and while there was a lot less accessible information back then I believe that was a big plus based on what I’m seeing now. Today we have too much information, a lot of the information is accurate, some is misleading, biased, wrong, etc… All this information probably leads to analysis paralysis for most people who are starting out.  One day they read that momentum is the way to trade, the next day they read someone else who says value is the way to go, then they read that day-trading is best thing in the world, after that its asset allocation, etc…I’m going to state some opinions that are based on 17 years of empirical observation.
1.  Owning growth/momentum/fad stocks are great when they are going up, know your time frame and how to manage them.
2.  Owning growth/momentum/fad stocks are not great when they are going down, know your time frame and how to manage them.
3.  Owning value stocks are great when they are going up, not so great when they are going down.
4.  In general terms if my intentions were to make money and not to do what I’m comfortable doing or what my practice allows me to do then within 1-12 month time frame I would rather own today’s momo/growth/fad stocks over value stocks.
5.  In general terms I would rather own today’s value stocks versus last years momo/growth/fad stocks, I would probably double down owning today’s value stocks versus the momo/growth/fad stocks of 2 years ago, triple down on today’s value stock versus momo/growth/fad stocks of 3 years ago.  Know your time frame.
6.  You are probably better off owning momentum/fad/stocks in the early stages instead of waiting until they peak and become mature companies and perhaps become a value stock, hence $INTC$CSCO$MSFT$AOL$LU,$DELL, ETC..if making money is your thing.
7.  There is a time, place and time frame for all type of investments; growth, value, cheap, junk, fad, hybrid, shorts,etc… know your time frame and how to manage them, a combination of all is probably your best bet.
8.  80% of big winners give back 50% of their gains and 50% give back 80% of their gains, it is probably best not to buy a momentum stock after it has run up for 2 years, know your time frame and your technical analysis stages 1-4.
9.  “The Russell 3000 index measures the performance of the largest 3000 U.S. companies, 98% of the investable U.S. equity market.  40% of the stocks had a negative return over their lifetime, 20% of stocks lost nearly all of their value, 10% of stocks recorded huge wins over 500%.  80% of the gains are a function of 20% of the stocks.—guess what…..the stocks that lost all their value and had a negative return over their lifetime some where value stocks, some where household names, some where momentum stocks.
10.  In roaring bull markets buy and hold is probably the best strategy and everything else sucks; tactical, active, asset allocation, etc…
11.  In a prolong bear market buy and hold sucks, tactical, active, asset allocation might help.  Some strategies work better than others in certain markets, diversify.
12.  Some people make money buying high and selling higher, some do it buying low and selling high, some do fundamental analysis, some technical analysis, some both, some try to outperform the market, others just want to be involve and ride along.  What determines which is right and or wrong is the outcome. Try telling Miguel Cabrera or Ichiro Suzuki that their awkward batting stance is wrong, the outcome of their careers says other wise.  Last year I bought two books, one from some one who does IBD style trading who was a wizard in the 90’s and the other book was about a fellow who turned a few thousands into millions doing pretty much the opposite of IBD, who is right and who is wrong?
Here’s the bottom line;  Not everything is black or white, wrong or right, certain styles work best for some people, certain styles work best for others, certain investors invest one way and believe that every other way is wrong and stupid, some invest their way but believe in diversification to take advantage of the different seasons, others invest their way but know and accept the fact that their way is not always going to be in tune with the market, others jump from strategy to strategy looking for the SECRET SAUCE every time they have a drawdown or read a well penned blog.  On that last point imagine if the leader in missed field goals in the history of the NBA went to the gym every time he had a bad shooting night to try a new shooting form, then he would’ve never became one of the greatest of all time.
We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

Monday, November 17, 2014

In Case You Are Wondering What Is Happening Underneath the Surface

The Russell 3000 index is comprised of the largest 3,000 U.S. companies, basically its 95% of the investable U.S. equity market.  Here is what the majority of stocks are doing versus some of the major indices that are sitting at highs resting.
Nasdaq Composite vs % of Russell 3k stocks > 10 day moving average
comp_vs_rut3k

Russell 2000 vs % of Russell 3000 stocks > 10 day moving average

RUT2K_VSRUT3K

SP500 vs % of Russell 3000 stocks > 10 day moving average

SP500VSRUT3K



We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

How To Manage Money Like Joel Greenblatt

This is a great video by legendary investor Joel Greenblatt.
Joel talks about;
    1. Diversifies with longs and shorts.
    2. What’s is the secret ingredient in investing.
    3. Top performing managers from 2000-2010, the top quartile who ended with the best record 97% of them spent at least 3 of those 10 years in the bottom half of performance. 79% spent at least 3 years at the bottom quartile of performance, 47% of those who ended up with the best record spent at least 3 of the 10 years at the bottom decile of performance.
    4. The only metric that you need for institutional inflows and outflows.
    5. Some cheap valued names.
    6. TWTR, ZNGA–Shorts
    7. The best strategy for most people.
    8. The biggest hurdle to high returns.
    9. Equal weighted > Market cap weighted index.



We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

Saturday, November 15, 2014

6 Lessons From The Top Endowments on How To Manage Your Money

I just finished reading The Ivy Portfolio (How to Invest Like the Top Endowments and Avoid Bear Markets), its a gem , an easy fast read that will give you a wealth of information you can put to use fairly easily that can benefit your account tremendously.  I will highlight some of the points that were important to me but I strongly suggest you get a copy of the book here.
“16.62% is the annualized return that the Yale endowment has returned per year between 1985 and 2008 versus 11.98% a year over the same time.  Harvard returned over 15% a year also beating the SP500 both endowments managed this with less volatility than the SP500.  Harvard and Yale endowments are the ones the book focuses on.  A $100,000 investment in the Yale endowment in 1985 would be worth $4 million by June of 2008, the same investment in Harvard would be worth $3 million versus $1.5 million in the SP500. Both endowments had less volatility than the SP500.”
1.  Active Management over Passive; “The top endowments rely on security selection and market timing rather than buy and hold.  The big endowments actively manage almost all of their investments at approximately 95%, their active security selection skills–not asset allocation  is the most important factor in determining the relative performance”.  There is a huge debate nowadays about passive investing versus active investing, here is my take; 1. there is no such thing as passive investing. 2. In a roaring bull market it is really hard to outperform the SP500 while at the same time trying to protect capital (top argument), as a matter of fact the top 2 endowments under-performed the SP500 in a majority of the up years between 1985 and 2008, all that was needed to outperform was down markets which is something that we have not seen in while.  Let’s see what happens when we get a correction that lasts longer than 2 days.
2.  Performance:  1985- June 30th 2008 Harvard and Yale average annualized return 15.95%, volatility 9.75%, best year 36.60%, worst year 0.10%.  U.S. stocks annualized return 11.98%, volatility 15.60%, best year 35.82%, worst year -17.99%.  In those 24 years U.S. stocks closed positive for the year 20 out of 24 times, (83%) this is why it is hard to be a perma-bear, the odds are against you.  Harvard and Yale managed to only outperform U.S. stocks 8 times during the 20 up years, in other words 12 out the 20 up years the endowment under-performed and if there was blogging and twitter back then Harvard and Yale probably would’ve taken to the wood shed every year they underperfomed the SP500.   90% of the difference in performance came in the down years. 1988 U.S. stocks down -6.98%, Harvard/Yale +2.75%, 2001 U.S. stocks -14.83%, Harvard/Yale +3.25%, 2002 U.S. stocks down -17.99, Harvard/Yale +0.10%, June 30, 2008 U.S. stocks -13.12%, Harvard/Yale +6.55%.  One of the key ingredients for active management to show their skills, worth, and reason for existence is down years in U.S. stocks.
3.  “The Russell 3000 index measures the performance of the largest 3000 U.S. companies, 98% of the investable U.S. equity market.  40% of the stocks had a negative return over their lifetime, 20% of stocks lost nearly all of their value, 10% of stocks recorded huge wins over 500%.  80% of the gains are a function of 20% of the stocks.  Let that sink in for a second.  Stock picking is not easy, especially if you want to hold something for the long term as many do but don’t have the fortitude to do it.  How do you get around this?  Own the Russell 3000 and take a small portion of you assets for individual stock picking if you wish. Most funds are closet indexers, they own every SP500 stock and try to outperform by putting more money in their favorite stocks.  Shorten your time frame as far as holding stocks if you are an active manager, James Simons from Renaissance Capital once said that if you wrote a book that started with I Love New York it was a lot easier to try to figure out what the next 3 words were going to be than the next 12 chapters.
4.  Trend following model will underperform buy and hold during a roaring bull market similar to the U.S. equity markets in the 1990’s.  The ability of the timing model to add value needs to be recognized over the course of an entire business cycle, however.  In other words, negative years in the markets are necessary to outperform.  With so much real time data everyone is extremely focused in the short term, if their strategy does not beat the SP500 one month they want to change their strategy.  Some clients end up chasing performance trying to ride the guy who’s had the hot hand in the last 3 months.  Now, I’m sure some twitter gurus who will say “I killed in the 90’s, read my book on how I made 50k% etc…”  But we hear about those amazing numbers of the 90’s but never get a chance to see their performance through an entire “business cycle” a.k.a 2000 and on…
5.  The time to buy is when blood is running in the streets–Baron Rothschild.  (mean reversion).  From 1975 to 2007 the average return for all asset class was 12.97%, if the asset class was down 2 years in a row the average return increased to 23.19%, if the asset class was down 3 years in a row the average return was 33.93%.  WOW.  Currently there’s a couple of asset classes that are down 3 years in a row.  Buying blood is a lot easier said than done, and regardless of what you hear from the twitter gurus, mean reversion works.
6.  From 1984 to 1998 the buy and hold return for the DOW was 17.89%.  If you missed the 10 best days those years the returns go down to 14.24%, if you missed the worst days then your returns would be 24.17% annually, if you missed both the ten best and the ten worst your returns would be 20.31%.  Lesson here; defense is more important than offense, it does not seem that way in a roaring bull market but it is in an entire business cycle.  The biggest rallies historically have happened in bear markets, the book provides the reader a way to avoid bear markets while still enjoying most of the upside.  The goal is to avoid huge drawdowns.
In summary, diversify, diversify, diversify, avoid huge drawdowns, the books gives you a detailed way on how to do it, well worth the $10.99.

P.S. About those fees;
  • In 2003 the 2 Harvard managers earned over $35 million each.
  • In 2004 Harvard paid its top money managers over $100 million total.
  • In 2007 the managers maid a $5.7 billion dollar gain.
  • Many students and alumni had a hard time paying these managers multi million dollar salaries.
  • The managers thought the school was getting a good deal for top-flight investment talent.
  • The estimated total cost to manage the portfolio internally for Harvard was 0.5%.
  • Meyer, Harvard’s money manager left in 2005 to launch his own hedge fund along with 30 Harvard staffers after all the backlash about his pay. Harvard pledged to invest 500 million in to his fund and pay the fund 1.25% management fee–$6.25 million and 20% of the profits…Harvard ended up paying him 10 times his salary to manage a few hundred million versus the billions he was managing at the school..
We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

Wednesday, November 12, 2014

Swing Traders LinkFest, Bad News Bears

IWM
We Need More Bad News–Mike Harris
Another Myth Busted–Cullen Roche
Back To Basics–Pradeep Bonde
We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

Friday, November 7, 2014

Swing Traders LinkFest–TrendFollowing, Flame Out, Crude, Non-Farm

We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tuesday, November 4, 2014

Captain Hindsight

This is pretty much a recap from the investing world on how you could’ve and should’ve been short at the beginning of the month and long in the middle of the month and out at yesterday’s high…enjoy…

We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets

Monday, November 3, 2014

Swing Traders Linkfest, The Best Is Yet To Come

TRADERS
The Best Weekly Recap–Urban Carmel
MidTerm Elections Stats–Chad Gassaway
Lessons From The Legend–Vic Niederhoffer
We might be able to help with your investments;
Frank Zorrilla is the founder of Zor Capital LLC a New York based investment management firm.  Our goal is superior performance, with preservation of capital as our number one priority. Zor Capital manages separate accounts (both taxable and retirement) for accredited investors and institutions. This structure gives clients access to a hedge fund like strategy while maintaining 100% control of their accounts.  Managed Assets