Registered: Nov 2005
05-08-12 11:29 PM
@MTE:I'm not looking for serious money actually. Serious as defined by 5M and up. Few 100Ks to 1M in aggregate is actually at this point probably the max I'd like to work with until investors get comfortable with me and my style. I spoke to 3 groups in my city, 1st guy is GP of a small shop running approx. 17M with around 11 outside investors. 2nd group was a business consulting firm that expanded into asset management in 09' and is running about 30-40M, mostly partners money. 3rd guy was director at a FoF who gave me color on the industry. Duly noted on liquidity.
@bwol:Your point on R2K is taken and am aware of, I can argue however as you pointed out that the real value lies in downside susceptibility. FWIW, I believe (maybe foolishly) that most investors wouldn't mind just a small positive spread over the index if the downside is mitigated to an extent.
@newwurld:I'm not looking to be structured after Berkshire today or even at its inception. I'm talking Buffett's LP days, and I'm wondering even if I want to go the fund route as there are massive regulatory issues that way (if I ever get there). I'm looking to roll as an LP and the core piece of advice given to me is that the investors that come in must absolutely FIT with the strategy and timeframe. That will eliminate the majority of hedge funds.
Great stuff, thanks for the feedback.