I added backticks in front and at the end of the command string so it will be substituted right there and assigned to the varaiable like a list.
You will have problems using it this way when you have blanks in file or directory names anyway.
I also added a -print since some versions of find might want it to print output in terms of portability.
Then when using it in the for-loop you just insert `$cmd` vs. $list.