| Topic Name: |
Hedge Fund-Dot coms of the 21st Century |
| Message Name: |
Lemme guess... |
| Date Posted: |
01/28/2002 |
| In Reply To: |
It seems to me that you guys are still dreamers in the whole i-banking traditional mutual fund asset managemnet. come now, after 12 years of a bull market and now you are calling hedge fund growth a fad? i dont think its a coincidence that the red tape and beauracracy of big inefficient banking and asset managment firms are being exposed with the collapse of the bull. hmm.. not being able to short sell in a mutual fund? a fad? |
| Message: |
You have never started or run a hedge fund management company. The other two posters have good points. If you start your business and after a couple of years you are still sitting at 10 million AUM, you aren't going to get rich. It takes a lot of staying power to get to the size where it makes sense as a business. Many, many, many people throw in the towel before then, if your believing your own bullshit and sub-par (or a big flameout) don't take you down before then.
The analogy between hedge funds and dot coms has some traction. Just like most dot coms blew up, most hedge funds either blow up, get shut down or wound down. The survivors are few and far between, and the true success stories even less. It is a hard business. Take it from someone who's been there and back. Did I make money at it? Yes, plenty. Did I make as much as I firmly believed I was going to make before I started? Not even close. It barely covered my opportunity cost, at much greater personal sacrifice.
Cheers,
Yabai
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