Anybody recommend a DVD on how to set up a hedge fund for beginners? I seen one on VHS a while back ago, but can't remember the name.
You are probably better off just picking up a book, like - "How to Create and Manage a Hedge Fund: A Professional's Guide (Hardcover)" by Stuart A. McCrary
Maybe what I am asking for is something more smaller like learning about "managed accounts" and how to manage accounts for people for a fee. Or pooled accounts. I haven't seen any books on the subjects. Thanks for the book recommendation about hedge funds. I have lots of reading to do.
Managed accounts and hedge funds are very similar in terms of the way they operate (i.e fees - 1% and 20%). The main difference is that if you have a managed account, the account will be in the clients name and you will have investment authority over the account. A hedge fund you would set up a separate company were the investor would deposit money directly into the fund. Once reason investors like managed accounts is because of the high level of risk control on the account (since it is in their name). The manager only has investment authority on the account, the manage is unable for example to withdraw funds out of the account like a hedge fund. The bottom line, the hardest part is actually raising capital. If you have investors that want to give you money. figuring out the operational aspect will be simple.