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crude almost up limit


dmarc117
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Well, today was a wierd day for my partners and I ...

 

1) A huge oil well we were invested in was a dry hole.

2) Another (substantially smaller) oil well we are invested in came online two months early (yesterday and today were the first two days of flowing oil and gas out of the ground).

3) We were short the market.

 

I would give back the good from #2 and #3 if #1 had gone the other way, though ... the first item would have made a very meaningful impact to my wife and I and what our hopes are for our family. The other two, not so much.

Edited by muck
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the first item would have made a very meaningful impact to my wife and I and what our hopes are for our family. The other two, not so much.

 

Unfortunately, the major majority of us don't have the means to take a shot at an item. Hope you hit the next one.

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Unfortunately, the major majority of us don't have the means to take a shot at an item. Hope you hit the next one.

 

I didn't really think how hoity-toity (sp?) that sounded... :wacko:

 

To clarify, most of my income is a function of the profits that my clients earn. I charge low/no management fees on most of the assets that I manage, but earn a portion of any profits attributable to the clients. So, (generally) if my clients earn no money, I will not be in business (even if the clients want to stick around. This is not the same way financial planners do it who get (say) 1% of assets regardless of performance...lot's more pressure in my world to perform.

 

So, my family and I had hardly any money invested in the large oil well I mentioned above. Any money that would have come to us would have been because it had the potential to be an extraordinarly profitable investment. Our participation in this project was simply a function of the fact that I own the company that put the opportunity together, and not because we stuck a bunch of money in the project.

 

And this oil well was, without question, the largest potential homerun anywhere in my company for any of my clients, by an order of magnitude of maybe 100x bigger than the typical investment that I make for my clients. So, even though it represented less than 1% of all the assets I manage, if it had been successful, the profit splitting arrangement I have with my clients could have meant that it was a 'life chager' financially for my family.

 

If you (or anyone else) ever wants to talk about what I do (or what you're doing with your investments), feel free to ping me. I've helped several huddlers over the years with various issues ... gratis every time.

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