I had an email today:
This was my reply after reading the firm's website and ADV2 (they charge 2 and 20 and have just $7M under management) and looking up UVXY, which shows perhaps the worst long-term investing chart I've ever seen):
Do you think I was too harsh?
Dear White Coat Investor,
I really like your website. It provides a valuable resource to the
medical community. I've recently started working for an investment
fund in Arizona (probabilitycapitalgroup.com), and am trying to find
ways to reach medical professionals to educate them about the benefits
of investing in volatility products (like UVXY, for example). I'm
unsure of how to best proceed as I am relatively new to the industry.
I'd appreciate your advice on how I can get in front of doctors to
discuss this emerging industry. Any help you could provide would be
appreciated.
This was my reply after reading the firm's website and ADV2 (they charge 2 and 20 and have just $7M under management) and looking up UVXY, which shows perhaps the worst long-term investing chart I've ever seen):
I appreciate your compliment and you thinking of me when you wish to reach out to medical professionals. I will give you some blunt advice just like I give docs that ask me how to improve their financial situations and patients who ask me how to improve their medical situations.
I'm not a big fan of investing in "volatility products" nor of paying 2 and 20 to advisors/investment managers. I'm afraid our goals are nearly perfectly opposed so I don't see how any sort of partnership is going to work out well.
Please stop targeting doctors. We don't need your "help." There are plenty of other investment advisors out there that view us as "whales" and try to help us by charging 2%+ of AUM, slowly bleeding the investing accounts of people who have dedicated their lives to helping you when you are sick and injured without regard to your ability to pay them. In fact, I would recommend you find a new firm to work for that will allow you to not later regret your career. Seriously. There are a lot of great firms out that that really help their clients. It is very hard to add enough value to overcome 2 and 20 no matter what your investment strategy.
Do you think I was too harsh?

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