Yeah, you did... that's why you write and sell subscriptions.
I must admit that you beat me with that loss. If you did not do it on purpose you should have had really no clue at all about trading.
Hedge-fund prodigy takes a $300 million hit
- Thread starter RedDuke
- Start date
Yeah, you did... that's why you write and sell subscriptions.
I must admit that you beat me with that loss. If you did not do it on purpose you should have had really no clue at all about trading.
There are a lot more than just few.
Running a fund myself and having difficulties with raising AUM, I am learning more and more that track record alone is not enough. Being a great sales person is a requirement as well. These guys who blew up and great sales men among other things.
At the end of the day if you look at where the most money is allocated it's Einhorn, Simons,Cohen,Dalio,Tudor....and on and on. These guys have pretty low volatility.
As far as running a fund and raising money? I worked for a new CTA/Fund back in 2004. The fund manager came from SAC and has great pedigree. Top school, great experience, a great track record at previous funds. The fund had excellent returns . But when it came to raising money you had to jump through hoops and basically go through water boarding to get assets. Was brutal. And yes, you HAVE to be a great salesman as well. Totally agree.
You ever read the book about Amaranth and Hunter? Great read. Goes into details about his battles with the other huge energy traders.
My experience has been that track record is low on the list of investor demands. Sophisticated investors understand that past performance in no way dictates future results. In addition EVERY new fund start up has great performance otherwise they wouldn't be launching a fund. So u better have something unique.
The latest fund i spoke with utilizes political dispersion models, another monitors parking lots etc with drones to project sales. This is what sets a fund apart. Not just the same old thing.
The latest fund i spoke with utilizes political dispersion models, another monitors parking lots etc with drones to project sales. This is what sets a fund apart. Not just the same old thing.
Thanks. no I have not heard about this book. Will definitely get it.
The start is very hard, and yep the track record is just a portion of it. I have seen fund on Barclay's db with very mediocre performance ( 5% ) per yet, their AUM is constantly growing.
We had numerous meetings with investors, and the answer is usually: "we like you and ready to invest when you break certain threshold for AUM.".
Hey, no one said it would be easy
What is the threshold AUM?The start is very hard, and yep the track record is just a portion of it. I have seen fund on Barclay's db with very mediocre performance ( 5% ) per yet, their AUM is constantly growing.
We had numerous meetings with investors, and the answer is usually: "we like you and ready to invest when you break certain threshold for AUM.".
Hey, no one said it would be easy
The start is very hard, and yep the track record is just a portion of it. I have seen fund on Barclay's db with very mediocre performance ( 5% ) per yet, their AUM is constantly growing.
We had numerous meetings with investors, and the answer is usually: "we like you and ready to invest when you break certain threshold for AUM.".
Hey, no one said it would be easy
For sure! No one wants to be first or second n line.
I met with a start up last week. Get this-- they have $23m AUM but employ 40 people in very xpensive office space. A wealthy investor is basically funding it personally with the philosophy "if u build it, they will come". They have not raised dollar one from outside--
surf
i like this idea. But are they afraid that future laws may prevent them from flying drones in specific areas?
There's a weird magical like quality given to guys who lose huge by the Street. Its really bizarre but its like "they attracted so much money in the first place, they must be special, lets give them another shot". Happens again and again.