
Former teenage soldier hatches millions from Chinese egg futures - ca98am79
http://uk.reuters.com/article/2015/08/02/china-markets-eggfutures-idUKL4N0ZX1N620150802
======
chollida1
Not really sure there is much to see here. When the market goes straight up
anyone who borrows money to put into it will look like a genius.

> Last year, the volume of egg futures traded increased 1,703.3 percent from
> 2013, making it the 9th largest futures market in the world by volume,
> according to figures from the Futures Industry Association.

If there is that much money plowing into it, then you just buy and hold.

That's why people point to atleast a 5 year track record as the first rule to
follow if you are looking to invest your money in an actively managed product.

The other thing to notice is that the results are unaudited. I too can claim
any results I want if I have no investors.

~~~
jsprogrammer
Past results guarantee future returns.

...or something

------
nharada
> The opportunity Zhang saw was very specific: to borrow a lot of money
> quickly to produce high profits in a poorly understood market.

Isn't this exactly what is currently bankrupting millions of Chinese citizens?

~~~
curiousjorge
basically all the people who made their money are getting out and now the mass
is getting into it.

Reminds me of the story a hedgefund wrote where his grandma started telling
him to buy stocks, he immediately drove home, and closed all his positions.

------
ucaetano
"Zhang trades on his own account and Reuters was not able to independently
verify his earnings."

------
7Figures2Commas
> Zhang trades on his own account...

> "The goal is to have the hedge fund with the highest return in the world,
> with capital of around 100 billion yuan," he said.

I hope this is a translation issue, because otherwise it would seem that the
subject doesn't even know the difference between a prop trader and hedge fund.

