A few weeks ago, I wrote about Equitrader, the site that’s attempting to bring brains and talent all over the world into the world of daytrading just as Topcoder has done for programming. So far, it’s fared much better than I expected. I’m not sure how much overlap in membership there is between the two sites, but discussions among members in forums have turned technical, with participants discussing ways to create automated programs to do trading. Program trading is not something the average person can probably accomplish easily. And some of the returns are definitely impressive. (Incidentally, if you see me listed on the site, you can believe that my participation is almost entirely passive.)
So the question of the day is the following: assuming there was a trader who performed consistently well (through his own means or, more likely, via a program he wrote), would you consider investing in him (e.g. give him your money to trade) just as you’d consider investing in an actively managed mutual fund or asking a financial advisor to manage your money?
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