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A. Needs to be small (I think max of 3 plus mentor)
B. Needs to have each person bring different skills and perspectives to the table
C. Need to develop a level of trust (after all we are talking about money)
D. Needs the right mentor (we are lucky that we have Dave)
E. Needs to be flexible - everyone has to contribute, but time demands vary so one week one person may soend more time than the others but then it can flip the next week
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Jon,
A few comments, if you please.
A. I think perfect size is about 6. I think you guys would like to have a couple more IF the added ones were workers.
B. Different skills are essential.
C. Trust - but you are assuming that the group may ultimately form a financial partnership. Truthfully, I expect that will rarely be the case.
D. Not only is the mentor important, but the group needs to have at least an informal leader. Also, the mentor (at HSH that will likely always be me) should not be simply issuing orders. I guide, but the group must make their own decisions about direction.
E. People who join a group with only taking in mind, and no real intention of giving, are being dishonest. I am referring to more than just workload as that is only the beginning. If you do not pull your fair share of work - or have some other skill that the group needs (i.e. math, spreadsheets, very creative analysis, something special) - then there is no contribution.
The attitude that says, "I am going to use whatever discoveries you guys make but share none of mine" just doesn't work. Perhaps the higher education mantra of "Publish or Perish" (which translates into what have YOU done lately?) works well in this situation.
General Comments About Collaboration
I actually helped form this group - from three guys that I felt had a lot in common including level of commitment, intelligence, work ethic, desired direction, etc. In other words, I knew all three and thought they'd be a good match. There was actually a fourth but he fell away very quickly as having no real interest (and that's okay; it is certainly honest).
Part of my plan is to match people together with other people who are interested in a like approach. Of course, that means I have to have a good idea of what you are working on in order to know who might be a good match. (I actually have some ideas for this.
BTW, high-powered groups like this one have to pay back a little by helping other groups and users. Already these guys are doing that. As a way of saying "thank you" to them, I give them far more of my time than anyone else gets (except Jim P. - who always does so much for the cause).
There is a catch-22 in collaboration. The more a player needs help, the greater the likelihood that he is willing to collaborate. In other words, the players who know more (or at least think they know more) are generally less willing to collaborate.
Still one more way to say it is that players have a tendency to leave the herd when they think they are ready to be profitable. That is the bad news. The good news is that there are always a few winners who are willing to help. That does not mean that they are going to give up all their secrets - heck, I don't even do that.
Dave Schwartz
PS: Stay tuned - especially those of you who are current or past HSH users who want to be a part of something like this. It is all in the plan.
