For money managers with more than $10million in assets under management, may I ask: - how did you get to where you are now? - if you were to start over again, how would you do it? - what would you do differently? Thanks! - Jim
I assume that you have reached this level? If not then might I add that all it takes is one person who believes in your talent and recongnizes an opportunity to make money with you. If you really have an incredible edge, have a robust system that is robust in all markets in all time frames with various correllated and noncorrallated instruments, and you have a decent trading plan - with stop losses, and you have the discipline to stick to the system then the rest is history. All you need to start is one account. The account can be as small as $10,000. I personally would prefer at least $50,000 + but you take what you can get and then you prove yourself. people will talk and your clients will bring you more money. Your clients are your best equity raisers. good luck
If I could do it differently, I would become a day trader, not a fund manager. My fund's value dropped 30% in the last 4 weeks, my clients are requesting to withdraw money, I am beginning to develop heart problems, I cannot sleep, I cannot eat, I cannot fuck, I cannot bear looking at anything red, I panic when I see an arrow pointing down...
Well by the time people present themselves for help, it is usually too late to obtain significant relief. If you have a small client base, you may want to contact them in person. But first you need to take control of your situation and find a strategy that will stop the bleeding. My advice is to contact a qualifed colleague if you know of one, whose skills are appropriate to your fund. Ask him/her to consult and offer an opinon on an expedited basis. I am not available for this, so its not like I am trying to drum up business....but that is what I would do. A good qualified consultant will want access to your records and will examine your results looking for areas of improvement. Often they will offer suggestions that will help you improve risk management or develop an approach that you hadn't thought of before. Getting help will make you feel better. Based on a skilled consultant's suggestions you could develop a program that motivate's some of your clients to stay on... I mention this because a similar "event" took place early in my career. I had a heart-to-heart conversation with some of my clients and they gave me a window of time in which to show improvement. Fortunately I was able to improve my performance in time to save my job. I do remember however, lying in bed sweating and listening to my own pulse banging away in my head, trying to think of something to do....it is not a good way to live.... I wish you all the best Steve
As opposed to having your own nest egg down 30%? What's the worst thing that happens? You blow up your fund, get fired, and become a day trader with your earnings. Dude, at the end of the day you can just walk away. Its only money.
I believe we're all stressed at this point. I manage close to 40mm. I'll add comments later this evening. Right now, if you're managing money, you need to be in contact with your clients more than you ever would in an up market.
trust me, your clients will contact YOU. In fact, if any of you jokers were real, you would know that clients will be all over you every day about their money once the first negative month is put up. facts are, you jokers are not hedgees, but rather daytraders trading opm in a fund structure. real hedgees LOVE this market and are making a killing, phoney baloney BUY AND HOLD types are getting killed. VOLATILITY RULES!