Thursday, July 16, 2009
CHA Designation
This post is also not trader related but I wanted to share that I just got the reslults back and I past the CHA level 1 (Chartered Hedge Fund Associate). Not exactly sure what I am going to do with it if anything, but when I first started it I wanted to make my way into the hedge fund industry and I figured this would give me a leg up. If anything it keeps my doors open. But right now I am focused on pursuing this day trading with SMB Capital and am feeling really good about it.
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Congratulations Dominic. Make sure when you start your own hedge fund you keep it under $30M... I heard that the SEC/gov just announced some Hedge Fund regulation yesterday...
ReplyDeletehttp://money.cnn.com/2009/07/15/markets/Obama_hedge_funds.reut/index.htm?section=money_latest
I'm just now catching up with old posts so sorry for the lateness of my comments. I think we've all known for a while now that we're probably heading for a period of overregulation in response to what people perceive to be a lack of regulation. This is something that changes over time depending on which party is in control.
ReplyDeleteWall Street is still powerful in the lobby industry. Every congressman is involved in some fashion. This is why the call for hedge fund regulation has always faltered in the past. Who wants to implement a law that might cut off their own funding? I think they have thrown out a test baloon on this issue and that ultimately it will fail.
If successful you can expect hedge funds to domicile themselves in other countries to avoid regulation here, thus taking their tax revenue with them, something we can't afford. When push comes to shove, those with the money have always won. There will always be a country of last resort that will let you do whatever you want, just as there will always be a new former 3rd world country to outsourse labor to.
We first outsourced to Japan, they have now since outsourced to China and Vietnam. Those countries will one day outsource to Bangladesh. The hedge fund industry maybe facing a shake out or restructing, but it is far from dead.