Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26002. (Read 26608818 times)

For those that still have not seen this or missed it and may be interested.... (apology to those that have seen it already, not "spamming" but it seems there is still some confusion as to who and where and how... there is a link to the regulation that covers GABI nearer the bottom)

Some infos I have gathered regarding: GABI (Global Advisors Bitcoin Investment Fund) for anyone that may not have seen it.


ANNOUNCEMENT FROM JERSEY GOV

=

http://www.gov.je/News/2014/Pages/CryptoCurrency.aspx



(Global Advisors Jersey Limited)  

Daniel Masters
(http://www.linkedin.com/pub/daniel-masters/8/939/197)

Co-Principal and Portfolio Manager
Director of Trading & Execution
Daniel Masters started out in 1985 at Royal Dutch/Shell, where he was responsible for managing a portfolio of North Sea Crude. Moving to The Phibro Energy Division of Salomon, Inc. in 1987, he pioneered the firm’s entrance into the electricity markets. He structured groundbreaking natural gas deals and was an original participant in the “Contract for Difference” (CFD) market for physical oil in Europe. J.P. Morgan hired him in 1993 to add trading expertise to its array of financial capabilities. Based on Danny’s success in establishing a proprietary trading program, Morgan promoted him to head its global energy trading business in 1997.


Russell Newton
(uk.linkedin.com/pub/rus-newton/0/419/371)

Co-Principal and Portfolio Manager
Director of Systematic Model Research & Development
Russell Newton began his career as a crude oil trader for Royal Dutch/Shell in 1986. As head of Shell’s futures and forwards trading, he was one of the original developers of pricing models for the Brent CFD market. Rus also worked for The Phibro Energy Division of Salomon, Inc. and Rhein Oel Limited before joining J.P. Morgan in 1993. At Morgan, he served as global commodities strategist, covering base and precious metals as well as energy. He developed a new derivative trade structures and new techniques for researching, analyzing and modeling markets.


J Mognetti
(uk.linkedin.com/in/jmmognetti)

Mr Mognetti is a director and shareholder of Global Advisors (Jersey) Limited. Mr. Mognetti is registered with the National Futures Association (NFA) as a Principal, an Associated Person , and a National Futures Association (NFA) associated member of Global Advisors (Jersey) Limited and is also approved as a Key Person of Global Advisors (Jersey) Limited by the Jersey Financial Services Commission (JFSC).


Global Investment Bitcoin Investment Fund
Ground Floor Liberation House Castle Street St Helier Jersey JE2 3AT
http://www.globaladvisors.co.uk/

The Company seeks to achieve capital appreciation through direct and indirect exposure to Bitcoins and Bitcoin related markets.

If profitable opportunities arise, the Company will also invest in certain other commodity markets, including precious metals, oil and other forms of money (such as FX) as required to meet its investment goals whilst enhancing the Company’s ability to manage its liquidity requirements


Intro video if you have not seen it = https://www.youtube.com/watch?v=OMN03xti4pk


Partners

Carey Olsen as legal advisers led by James Mulholland -
http://www.careyolsen.com/locations/jersey/

Moore Management as fund administrator
http://www.mooremanagement.com/

Netagio and Elliptic as providers of custody services "to strengthen and enhance our fund offering."
https://secure.netagio.com/  Netagio. The first British Bitcoin, gold & sterling exchange.
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https://www.elliptic.co/



Company formation and registration details

https://www.jerseyfsc.org/registry/documentsearch/NameDetail.aspx?Id=297268


The fund will operate within the Collective Investment Funds (Jersey) Law 1998 as an "Expert Fund"

of which you can find a copy here =  http://www.jerseyfsc.org/pdf/schedule_2_codes_for_certified_funds_august_2011.pdf




........Interestingly enough the company that I used to work for who are based in Jersey, who have since merged and then morphed and changed names several times.. was most likely involved in advising the government (and others) in writing the Collective Investment Funds (Jersey) Law 1998,  and I also worked at the same company as one of the other members of the team at GABI ,one of the non exec directors, albeit I never met the guy from memory.... ..small world  

Edit: actually the same company also advised quite a few other governments too over the years in various aspects of Taxation law and Financial and International Finance law/International law and the like,  they get around, highly respected in their field and everything they touched was solid as a rock

....huh really small world...  looking around I see 6 or 7 people from one company I worked for (Jersey/London based) are now working in and with Bitcoin related businesses, even one guy working for one of the GABI partners.  

Explanation

Thanks for the research, they are indeed pro. Maybe too pro  
But can they light a cigar with a lighter and a fart? I don't think so. This art maybe is lost forever.

Hmmm I think it is more Blythe (Masters)  , Daniels ex wife that you would want to be concerned about in that respect  

(somebody say silver?)

? but it is not hard to find out who is behind the fund... and their history.. I have even posted it here 3 times in the past two days.... C.Vs, Bios, contact details, past experience, the lot...  they are far from three 20 year olds... impressive team.. and impressive partners.... regulated fund with some oversight.... is quite interesting.. and also , connected to the nines ... they know already where the money $200 mill approx is coming from imo...and they most likely already have it..

besides it is not just a Bitcoin fund as they clearly state

These guys are pro's .... not just a bunch of guys on reddit... and they are operating in a very interesting neck of the woods...

Edit (Global Advisors Jersey already trade around 2bn in energy and equities +)
Edit (Also ... they are going to open a "US" "companion fund" I do believe)

here is the link again : (not the empty box the date)

In my case, it is because they just said "we expect N millions in the first year" or something to that effect. For what i know, they can be 3 20-something in a 100 bucks a month office, rolling thumbs and wishing a lot.

That being said, i'm bullish short, medium and long term

What? You bid $15 for $10 bitcoins? 

Where's these $15 bitcoins Professor Bitcorn promised us? I've had my buy order in since July! What gives?

Explanation

I think Masters & co already know where their $ investors are coming from, most of them anyway,  and most likely have their ducks in a row...  

To answer your question  as it does not really say too much about audting and reporting in the collective investment funds (Jersey) law 1998  link, however I believe I can answer your question anyway

For recognized funds (I believe that Expert funds are the same in terms of reporting requirements) the annual and half-yearly audited financial statements and portfolio statements and reports prescribed by the RF Order must be made available to investors and sent out within:

four months of the relevant period’s end in the case of an
annual report.

two months of the periods end in the case of a semi-annual
report

(An unregulated fund which is a company must send
annual audited financial statements to investors and file them
with the Commission)

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https://www.jerseyfsc.org/registry/documentsearch/NameDetail.aspx?Id=297268

Name:   GLOBAL ADVISORS BITCOIN INVESTMENT FUND PLC
Registered Office:   Ground Floor Liberation House Castle Street St Helier Jersey JE2 3AT
Registration number:   115205
Registration date:   12-Mar-2014
Year End:   30-Jun
Law:   Companies (Jersey) Law 1991
Business Code:   RCP
Business Type:   RCP - Registered Public Company
Status:   Live


Public companies must file with the Registrar of Companies a signed copy of the accounts for each
financial period together with a copy of the report thereon by the auditors

Why the fuck is everyone making fun of GABI? First of all, if they started taking investment money yesterday - that money has to be sent, received, processed and THEN it can be used to buy bitcoins - whenever the fund DECIDES to make that investment. Even with SecondMarket is wasn't immediate.

So we won't know the effects of that fund for quite some time, imo. For these factors AND because I am sure some investors are saying to themselves, lets see how far down this market goes before I send my funds to invest.

When SecondMarket came online, we were already in an uptrend for a couple of months. Then it escalated quickly and a lot of money chased bitcoin right into the fund.

GABI is coming online in a down trend. Chances are, its not going to grow as fast in the beginning. When the day comes we are in an uptrend again for a few months, then Id expect GABI's liquidity to increase greatly.

I heard a rumor that GABI want to invest a zillion Zimbabwe dollars, if they manage to find a Cessna to carry the banknote to Jersey Island. Their fund manager is one Mr. Ciccio Pasticcio, of renowned fame because he can light a cigar with a lighter and a fart.

I also believe this time, buying now is really risky now, we have to see where we will goins.
But I am not feeling comfortable these days holding or buying coins.

Reminds of the real estate salesman programs.

You couldn't make this shit up, even if you tried.

Well. He's one of the most entertaining posters in here, I give him that.

Seems like stupid and unnecessary risk. Anyone who believes $450 is a good price should believe $500 is too. That is why I doubt this is a manipulative push down.. *But it very well may be.