By $200k I mean 100k GBP. Coupled with inflation, high taxes and less 'bang for the buck', retiring at 40 might be a tad optimistic. Also, the ultimate goal is more akin to a long, fulfilling and challenging career, plus absolute financial freedom rather than a comfortable, early retirement. Didn't mean to sound defensive, only meant legitimate wrt the above. I don't claim to be a good judge of anything. To my limited knowledge/insight, the friend/fund-manager has a good awareness of fundamentals, technicals and macroeconomics; he's comfortable with complex mathematical models while being a largely discretionary trader; he has had unusual success trading different instruments in different time-frames; he retains humility and rigor in spite of his success. The fund is more of a recent development, but seems to be doing well and steadily growing.