My name is not important but it’s also not a secret, we simply value privacy. In the business of trading & in Social Media; a name is not important, actions & transparency are. Legacy_Trades is a pseudonym for the CIO of a private Washington, DC based Family Office that actively trades equities, options & futures.
Trading is a business of risk management, a PnL statement, an audit & driven by motivation to grow wealth, done so on MERIT. We know of no instances in which a blog with a high page view count, or a TV appearance helped one outperform benchmarks & competitors.
HOW WE USE SOCIAL MEDIA
There will always be fakes, frauds & poseurs in both Trading & Social Media (we do the “unthinkable” & highlight them) but for 4+ years we’ve tried to help you cut through the “noise” while generating actionable idea flow.
What we DO:
i) Trade equity, options & futures with our own money, providing symbol, thesis, buy or short scale range, risk/stop, target & % AUM dedicated to the trade;
ii) Provide valuation & fairness opinions as well as Investment Banking type consulting services to select Micro Caps;
iii) Invest in a small number of VC opportunities;
iv) Periodically serve on public Company Board of Directors, in some cases, with roles focused on Audit Committees, Business Development & Compensation Committees; and
v) View Social Media as a platform to log / document all of our trade actions & in doing so, giving it to you straight; sharing honest & transparent trades that you’d only otherwise see sitting on the desk right beside us. The Twitter has become our electronic trade journal & it’s important for all to realize that a) it’s an elective & for us, b) it’s wildly efficient when compared to our “old school,” long hand “notes in journals.” We hope you find some value in what we share.
What we DON’T do:
i) Have or promote / RT anyone with a history of problems with the NASD (as noted & available per the NASD-R broker ‘report card’);
ii) Represent ourselves or ever promote / RT someone who holds themselves out as someone they’re not. For example, we’re not CPA’s, lawyer’s or licensed financial planners so we don’t opine or provide tax, legal or asset management advice, etc.;
iii) Proclaim proficiency in Biotechnology, Drug Development, Bond, Oil or Forex trading. We stick to speaking or writing about topics we have relevant experience with;
iv) RT ourselves, RT peoples “praise” of any of our posts or post in hindsight to look ‘successful,’ (this is the way of the Internet troll – can’t make a living trading – typical Social Media paid service operator). Our P-n-L is run live & in real time, with real consequences for us, good or bad; and/or
v) Have a need to be popular. The trading business is ALWAYS about performance > popularity. Our “follower” count is not important, although we appreciate the folks who read, it’s the curated list you make & who you follow that matters.
After graduate school, briefly served as Clinical Psychologist & Teacher in Southern California. First taste of Wall Street came in 1996, as a broker at The Boston Group, LP (TBG), an LA based, “boutique Investment Bank,” which, in reality, turned out to be a CHOP STOCK, Micro Cap IPO firm. The “boiler room” mentality & deplorable professional ethics at TBG weren’t a fit for us but stock & option trading was. Despite a dubious introduction, Wall Street set it’s hook.
Following just over a year at TBG, Legacy served as the Director of Trading & as an Analyst at Hedge Fund & market maker Mezzanine Capital, Ltd (1998-2002). After September 11, 2001′s tragic events, Mezzanine set up an onshore mirror fund, Trymetris Capital Fund I, LLC & Legacy was the Fund’s co-founder & seed investor. Legacy also co-founded parallel operations in Institutional Brokerage (Monico Capital Partners, LLC) & Investor Relations (The Liquid Group, Inc.) aside the Fund to expand Sales & Trading, Distribution, Market Awareness & Channel Research.
Leaving Southern California for Washington, DC in 2006, Legacy transitioned to the role of Advisor for Trymetris Capital Fund I and took on more active management & operations duties at a Family Office, where he presently serves as CIO.
TRADE STYLE – STRATEGIES – FOCUS
- SWING TRADING – Equity & Options (holding period / time horizon typically 1 – 12 months) is the primary focus & largest capital allocation, representing @ 45% – 55% of Assets Under Management (AUM), at the firm. Fundamental analysis (FA) always drives our stock selection with technical analysis (TA) used as a compliment.
- SCALP TRADING – Equity & Options (holding period / time horizon typically 1 day – 3 months) is a secondary focus & receives a moderate capital allocation of 15% – 25% AUM. FA screens are still paramount in our SCALP equity selection, however, TA is the driver for price executions on this shorter time frame.
- SPECIAL SITUATION TRADING – Equity & Options (holding period / time horizon typically 1 – 6 months) often times in under followed, under valued Small & Mid Cap equities, is another secondary focus & typically makes up trades equal to @ 7.5% – 15% of AUM. Fundamental analysis (FA) is the core for stock selection in this asset class with technical analysis (TA) serving as a minor compliment.
- INSIDER PIGGY BACK TRADING – Equity (holding period / time horizon typically 7 days – 3 months) is a proprietary insider trade tracking & scoring strategy that identifies high probability “piggy back trades” alongside notable insider actions. The system flags insider activity with a high statistical & probability skew favoring the trader, done by pairing a success score generated by an acting insider to TA without reference or review of FA. The typical allocation to this asset class is @ 5% – 10% AUM.
- SWING TRADING – Futures (holding period / time horizon typically 1 – 3 months) is a high risk, leveraged component of the firm. Given the risk, the capital allocation is commensurate @ 3% – 5% AUM. A MACRO view rooted in FA shapes the trade plan / thesis & TA over lays are used to trigger order executions.
- SCALP TRADING – Futures (holding period / time horizon typically intraday – 30 days) is a high risk, leveraged component of the firm. Given the risk, the capital allocation is commensurate @ 1% – 2% AUM. News/Data & TA are the sole drivers that trigger trades for this allocation of capital.
SECTOR STRENGTHS & TRADING FOCUS - Whether it be for SWING or SCALP trading, includes Application Software (core competencies; Gaming & Mobile Payments), Independent Oil, Gas & Exploration, Industrial, Manufacturing, Scientific Instruments, Semiconductors, Steel & Trucking.
- Mercyhurst College – B.A., Psychology
- Pepperdine University – M.A., M.F.C.C., Clinical Psychology