Article: Start Your Own Hedge Fund

Discussion in 'Wall St. News' started by gwb-trading, Aug 4, 2006.

  1. gwb-trading


    Article: Start Your Own Hedge Fund
    Fortune on
    By Marcia Vickers

    How hard could it be? Our reporter went to a hedge fund startup and business development conference to find out.

    I'm thinking of starting a hedge fund. Let's be clear: I'm in it for the money.

    Look at Steve Cohen, who runs $7 billion SAC Capital. He owns a 14-acre estate in backcountry Greenwich, Conn., with a skating rink, a spa, and lots of art, including a $12 million shark in formaldehyde.

    Moore Capital's Louis Bacon owns his own island off the Hamptons. My plan: I'd give my billions to charity after I bought a pair of Jimmy Choos. Okay, a lot of pairs. And some dinners at Jean-Georges. And a ranch in Montana.

    So I landed in late June at the Fourth Annual New York Hedge Fund Startup and Business Development Forum, sponsored by a financial trade magazine. The ad for the forum read: "Save months of time on your setting-up process by meeting everyone you need to in just two days."

    The conference culminated in "speed networking" - hedgie hopefuls like me would get three minutes of actual face time with scores of rich investors clamoring to throw money our way. Sort of like speed dating, but without the Cosmopolitans. {more at below url}