I am creating a sports betting hedge fund.

**Boner_18** · 04-24-10, 03:33 PM

I posted an article about this a few days ago. You better be willing to be based oversees. 20% after a standard fee is ridiculous. And GL getting institutional money, it ain't gonna happen.

Don't get me wrong if the regulatory environment was different I think it could be a good model. What fund did you work for?

**mathdotcom** · 04-24-10, 03:37 PM

Originally posted by Colt

Just a few short years ago I was on top of the world. I had an Ivy League education, beautiful wife, great kids, and lived an extravagant lifestyle. I was one of the top young hedge fund managers in the United States. I was well known in the industry. I was a mover and shaker.

Then 2008 happened. Myself, along with everyone else, got killed in the market. I lost nearly everything because of a few bad decisions. My wife left me because of the stress it caused her and got custody of my two beautiful children. I turned to drinking and almost killed myself.

What the hell happened? I thought it was so easy, my first five years in the industry I was on fire and thought I could do no wrong. I got a big head and I paid the price. I lost everything that mattered to me - the wife, kids, and lifestyle.

Two years later, here we are and I am looking to rebound. After seeing some news reports about a sports betting hedge fund, I began to look over some numbers. I have experience managing money and sports sounds like a field that is impossible to lose in. I have a background in statistics. I am smarter than the bookmakers in these areas. Just look at me when the stock market was doing well, there is your proof. My hedge fund that I managed was one of the top up-and-coming hedge funds out there, with returns of approximately 26% per year.

I believe with a sports betting hedge fund I can create a return of 20% to my customers, after fees. This would be guaranteed because of the types of bets that I find are winnable and betting a conservative amount of the fund per wager. I am currently looking for customers (I currently have a couple who are interested), and with my big rolodex of contacts from my Wall Street days I feel this will not be a problem. The main issue will be to prove that my methods will be successful in the long run.

I just want to turn my life back around and get back to the lifestyle I had two years ago. I feel like this is my best opportunity.

where do I sign up?

**eidolon** · 04-24-10, 03:48 PM

so you did well when the market was good, and you did horrible when the market was bad?
That just prove you are a tool.

**2daBank** · 04-24-10, 03:55 PM

**freeVICK** · 04-24-10, 03:58 PM

dacviet is that you?

**jjgold** · 04-24-10, 04:10 PM

Originally posted by Colt

Just a few short years ago I was on top of the world. I had an Ivy League education, beautiful wife, great kids, and lived an extravagant lifestyle. I was one of the top young hedge fund managers in the United States. I was well known in the industry. I was a mover and shaker.

Then 2008 happened. Myself, along with everyone else, got killed in the market. I lost nearly everything because of a few bad decisions. My wife left me because of the stress it caused her and got custody of my two beautiful children. I turned to drinking and almost killed myself.

What the hell happened? I thought it was so easy, my first five years in the industry I was on fire and thought I could do no wrong. I got a big head and I paid the price. I lost everything that mattered to me - the wife, kids, and lifestyle.

Two years later, here we are and I am looking to rebound. After seeing some news reports about a sports betting hedge fund, I began to look over some numbers. I have experience managing money and sports sounds like a field that is impossible to lose in. I have a background in statistics. I am smarter than the bookmakers in these areas. Just look at me when the stock market was doing well, there is your proof. My hedge fund that I managed was one of the top up-and-coming hedge funds out there, with returns of approximately 26% per year.

I believe with a sports betting hedge fund I can create a return of 20% to my customers, after fees. This would be guaranteed because of the types of bets that I find are winnable and betting a conservative amount of the fund per wager. I am currently looking for customers (I currently have a couple who are interested), and with my big rolodex of contacts from my Wall Street days I feel this will not be a problem. The main issue will be to prove that my methods will be successful in the long run.

I just want to turn my life back around and get back to the lifestyle I had two years ago. I feel like this is my best opportunity.

Welcome to SBR Colt, first off sorry about your heavy loses I market and losing family. I actually think a hedge Fund manager is actually capable of doing something like this, sports betting is all numbers and has NOTHING to do with handicapping player performance. The winning players in sports betting cannot even name one player in sports as they use math models and statistics.

Let me warn you sportsbetting is dangerous also and if not managed correctly the same thing can happen like it did with your Stock Investing. We have guys here that have lost houses and families ( Brock Landers is just one.)

I would try and use non sports bettors for this venture as they will let you properly manage the fund and not have opinions. This should be very interesting. I think we only had one professional stock trader posting here in the past but he does not post much now. I guess a site like this can get your feet wet and learn about sportsbetting, where to get bets down, etc.

Colt if you need anything see me.

**sharpcat** · 04-24-10, 04:35 PM

Excellent this is exactly what I was looking for in somebody to manage my sports wager money for me

-A person who has recently lost everything he had. CHECK
-A person who is depressed and has a drinking problem. CHECK
-A person who knows hardly anything related to gambling on sports. CHECK
-A person who knows just how impossible it is to lose money on sports.

CHECK

Just one question exactly how long have you been gambling on sports for?

**mathdotcom** · 04-24-10, 04:58 PM

Might be thread of the year

**THE PROFIT** · 04-24-10, 05:00 PM

Sharpcat, I would like to be your family doctor. I have all those same skills you listed above as they apply to the practice of medicine

**keyboarding** · 04-24-10, 05:23 PM

Originally posted by mathdotcom

where do I sign up?

Originally posted by eidolon

so you did well when the market was good, and you did horrible when the market was bad? That just prove you are a tool.

How exactly are you going to pitch this idea to your huge rolodex of contacts? "Hey, remember how I lost all my money and developed that drinking problem which made me suicidal? Well, I know the best way to get all my money back stress free. I'm going to gamble on sports that I know nothing about! So, how much should I put you down for?"

**Colt** · 04-24-10, 05:27 PM

Originally posted by Boner_18

I posted an article about this a few days ago. You better be willing to be based oversees. 20% after a standard fee is ridiculous. And GL getting institutional money, it ain't gonna happen.

Don't get me wrong if the regulatory environment was different I think it could be a good model. What fund did you work for?

Thanks for the advice. I don't feel comfortable sharing the fund I managed because of personal information that could be found about me.

**Colt** · 04-24-10, 05:28 PM

Originally posted by mathdotcom

where do I sign up?

I'm only approaching people who I have a previous relationship or have had contact with at one point in the past. It's likely that you aren't eligible. I don't want someone who could potentially come kill me if a ball bounces the wrong way, I need to be able to trust my clients.

**Masu485** · 04-24-10, 05:29 PM

the best part was when he said it's impossible to lose money on sports.

**Boner_18** · 04-24-10, 05:30 PM

Originally posted by Colt

Thanks for the advice. I don't feel comfortable sharing the fund I managed because of personal information that could be found about me.

No problem. Do a search for hedge fund to find the thread. There was some good information in it. I understand you don't wanna share. What was the strategy of the fund you managed?

**Colt** · 04-24-10, 05:31 PM

Originally posted by jjgold

Welcome to SBR Colt, first off sorry about your heavy loses I market and losing family. I actually think a hedge Fund manager is actually capable of doing something like this, sports betting is all numbers and has NOTHING to do with handicapping player performance. The winning players in sports betting cannot even name one player in sports as they use math models and statistics.

Let me warn you sportsbetting is dangerous also and if not managed correctly the same thing can happen like it did with your Stock Investing. We have guys here that have lost houses and families ( Brock Landers is just one.)

I would try and use non sports bettors for this venture as they will let you properly manage the fund and not have opinions. This should be very interesting. I think we only had one professional stock trader posting here in the past but he does not post much now. I guess a site like this can get your feet wet and learn about sportsbetting, where to get bets down, etc.

Colt if you need anything see me.

Thanks for the welcome. You are correct in that the majority of my customers would not understand sports from a gambling perspective. They would be very casual sports fans, if sports fans at all. The majority of my hedge fund clients had no clue about the market, that is why they came to me.

I definitely feel for individuals who have lost families and wealth because of bad decisions. It can happen to anyone and I feel like I have learned from my mistakes and hope to get back on the right track. I have been sober for about a year now and I felt like that was the first step.

If anyone has any issues they should seek out people with similar issues, i.e. AA, GA, or other support groups. You need to be able to discuss your problems in a language that only people who have experienced them can understand.

**Colt** · 04-24-10, 05:33 PM

Originally posted by sharpcat

Excellent this is exactly what I was looking for in somebody to manage my sports wager money for me

-A person who has recently lost everything he had. CHECK
-A person who is depressed and has a drinking problem. CHECK
-A person who knows hardly anything related to gambling on sports. CHECK
-A person who knows just how impossible it is to lose money on sports.

CHECK

Just one question exactly how long have you been gambling on sports for?

No need to pile it on! I've never been all that serious on gambling on sports, I was always busy with one thing or another. I would make wagers on Super Bowls and things like that, but you wouldn't find me betting a regular season daytime MLB type event.

**pavyracer** · 04-24-10, 05:33 PM

You are introducing yourself by admitting you are a failure in everything you did in your life despite having a great education and family and you are attempting to promote your new business here. Do you see a problem with this strategy?

**Colt** · 04-24-10, 05:34 PM

Originally posted by keyboarding

How exactly are you going to pitch this idea to your huge rolodex of contacts? "Hey, remember how I lost all my money and developed that drinking problem which made me suicidal? Well, I know the best way to get all my money back stress free. I'm going to gamble on sports that I know nothing about! So, how much should I put you down for?"

Not quite like that.

**Colt** · 04-24-10, 05:41 PM

Originally posted by pavyracer

You are introducing yourself by admitting you are a failure in everything you did in your life despite having a great education and family and you are attempting to promote your new business here. Do you see a problem with this strategy?

I'm not promoting my new business here. I'm just discussing it and seeking opinions.

I am not looking for any customers here. I'm not interested in managing pennies. If I were, then I'd seek customers here.

**BeatTheJerk** · 04-24-10, 05:43 PM

Colt I don't need you pal. Check

**whatsgood5** · 04-24-10, 05:43 PM

This sounds like a great idea!

**no1here** · 04-24-10, 05:48 PM

wow Colt, you just said the wrong thing

**in2thethickofit** · 04-24-10, 05:53 PM

Originally posted by Colt

I'm not promoting my new business here. I'm just discussing it and seeking opinions.

I am not looking for any customers here. I'm not interested in managing pennies. If I were, then I'd seek customers here.

Thanks for the kind words, sure, put me down!

**emoney** · 04-24-10, 05:54 PM

I don't see how this can miss.

**excel** · 04-24-10, 06:04 PM

This is poster of the month material.

**2daBank** · 04-24-10, 06:25 PM

Originally posted by Colt

I'm not promoting my new business here. I'm just discussing it and seeking opinions.

I am not looking for any customers here. I'm not interested in managing pennies. If I were, then I'd seek customers here.

now the big shot that lost it all and didnt fuk good enough to keep the wife around wants to shoot insults

**ttwarrior1** · 04-24-10, 06:35 PM

actually im so desperate, ill sign up , can i work for you also, and for cheap

**ttwarrior1** · 04-24-10, 06:36 PM

wtf colt don't want us, screw him and glad she left

**jjgold** · 04-24-10, 06:56 PM

Originally posted by sharpcat

Excellent this is exactly what I was looking for in somebody to manage my sports wager money for me

-A person who has recently lost everything he had. CHECK
-A person who is depressed and has a drinking problem. CHECK
-A person who knows hardly anything related to gambling on sports. CHECK
-A person who knows just how impossible it is to lose money on sports.

CHECK

Just one question exactly how long have you been gambling on sports for?

Most guys even brilliant guys lost everything during the bad market years, lets not hold this against Colt.

**jjgold** · 04-24-10, 06:59 PM

Originally posted by pavyracer

You are introducing yourself by admitting you are a failure in everything you did in your life despite having a great education and family and you are attempting to promote your new business here. Do you see a problem with this strategy?

Although Paver at least the guy is honest which makes him legit, most guys would come here and make up some bull shit how good he is. It is possible to run a sports fund like a hedge manager. Colt has to be bright to be a manager. I believe lots of tests and certifications to attain that job. I give him credit and hope he succeeds.

**shari91** · 04-24-10, 07:01 PM

Colt, I mean this sincerely:

You may find it a little difficult to attract your former clients to your new venture if you have absolutely zero knowledge about sports. It would kind of be like me trying to get people to invest big chunks of money into a new jock-itch cream I invented. Not impossible, but very, very difficult.

Also, as it appears you have a way of killing people with kindness, you may want to avoid the nasty world of sportsbetting. Surely you've seen those riots that happen in soccer? Or people punching each other in the stands of a hockey game? I'm not sure if you were aware but they're almost always started when someone drops their bag of pennies. People go crazy, scrambling and clawing for every last one! I'm not proud to admit it but it's a very uncouth world of which we degenerate gamblers are a part.
Best of luck with it all!

**Colt** · 04-24-10, 07:07 PM

Originally posted by shari91

Colt, I mean this sincerely:

You may find it a little difficult to attract your former clients to your new venture if you have absolutely zero knowledge about sports. It would kind of be like me trying to get people to invest big chunks of money into a new jock-itch cream I invented. Not impossible, but very, very difficult.

Also, as it appears you have a way of killing people with kindness, you may want to avoid the nasty world of sportsbetting. Surely you've seen those riots that happen in soccer? Or people punching each other in the stands of a hockey game? I'm not sure if you were aware but they're almost always started when someone drops their bag of pennies. People go crazy, scrambling and clawing for every last one! I'm not proud to admit it but it's a very uncouth world of which we degenerate gamblers are a part.
Best of luck with it all!

Thanks for the advice, shari. I have knowledge about sports. Played them growing up. Have always watched games when I have the chance. I just don't have an extensive sports gambling career.

I think I can obtain the knowledge required to create a hedge fund. It's a statistical based approach, not knowledge of the teams and players.

BTW are you actually a female and interested in sports? I'm available since my wife left me

**jjgold** · 04-24-10, 07:13 PM

Colt you need to know nothing about sports, do not listen to some of the frustrated haters here. It is a numbers game only. I do recommended a paid line service like Don Best Sports ($550 per month) so your dealing with real time lines which is critical if your going to be managing large sums of money. As a hedge manager I am sure sports betting is chump change but I like the idea, also like that your not here for any business but more to gain knowledge, lots of shar numbers guys here too. Good Luck Colt.

**Flying Dutchman** · 04-24-10, 07:17 PM

Colt, good luck in your model building. You are going to find it much more difficult than you think. BTW, I know a few guys who are successful.