Billionaire Father - What Should I Do?
Good evening, all!
I am a 17 yr old, entering my senior year of hs. My dad is a billionaire, and I'm unsure as to how I should approach my future, even though I have a sense of where I'll end up.
I'm quite intrigued by macro markets and would like to launch a macro hf. My father said he would stake me to launch a fund.
Considering this and the fact that he is quite generous when it comes to distributing wealth, (ie: trust funds, etc) what should I do when I break out of college? I'll already have a 7 fig NW. I would like to start my fund in my late 20s, so should I try to join a FICC desk at a BB, and then try to lateral to a macro hf? I'm not sure if it's worth joining an MM HF, considering that I'll likely only be there for a few years which isn't enough time to become a PM.
Pls let me know what career move you would do in my situation. Thx
Your dad can prob get you on a call with Ray Dalio, Paul Tudor Jones, or Stan Druckenmiller. They can give you better advice than I probably ever can.
He's not a finance guy, but yeah I prob could ask some adults for their opinion. I just don't want to come off as haughty in front of them.
He don't need to be no finance guy. He got money, he is better than a finance guy - he FINANCES the finance guy. Finance guys work for him.
Love that Druck is included. Often overlooked!
Tried to be concise, I can go on with Lou Bacon, Bruce Kovner, Soros himself, all that.
Hey is your dad recruiting any more sons
The forbidden IB exit opp -> recruiting to be an adopted son
I’ll take things that never happened for 100 Alex
If your father is a billionaire, why are you asking strangers online for advice? Ask ray dalio or jerome powell, he could swing it.
He's not a finance guy, but yeah I prob could ask some adults for their opinion. I just don't want to come off as haughty in front of them.
Find a mentor or some adults you meet with minimal parental aid - has served me well. I'm in a somewhat similar situation (scaled down tho lmao - mid 8 fig net worth b/w my parents). Try to have genuine conversations, and don't bring up your parents, focus should be on your future, not your families past. I didn't know if I wanted to be in IB or a Trader, so I had my parents/family friends make introductions then took it on my own and let the relationships flow naturally. I am in trading this summer, chasing IB for next year (harder, no family/friends work in the industry so it is truly all on me).
At the end of the day, don't rely on your parents for more than introductions IMO - makes you seem like the nepotism hire wherever you land. To each their own tho.
Why the hell did I forget about Jerome "King Pump" Powell?! Amateur mistake on my part.
lmao money printer go brrrr but this time its bad
Assuming this is real, I have no idea why you would choose macro. It is the most difficult strategy to run (emotionally/intellectually) and is an all consuming 24/7 job with no beta or benchmark. Have you excelled at extremely difficult, competitive things in your life? You need to prove with sweat that you aren't just a spoiled kid who thinks it sounds sexy and will crash out.
I don't think u know what u are getting into. Just do deep value long biased equities with a lot of illiquid stuff that doesn't mark daily.
I am really obsessed with macro markets. Yes, I love periods/activities of extreme competition. But if I were to launch a fund in my late 20s, would you recommend that I go from a FICC BB Desk to a SM macro fund for a few years?
Honestly would not suggest pursuing finance at all. Go down the entrepreneurial path, you have the safety net of being set for life financially anyways so you might as well roll the dice - likely higher potential upside than most finance careers outside of eventually launching your own fund, which probably wouldn’t be feasible (at scale) before getting 8+ years of work experience elsewhere. Worst case if it doesn’t work then you could try to pivot to VC, which would be a much more manageable WLB
Do you think pursuing the HF career would be worth it if I could launch a fund in my late 20s of $100-150mm? I feel like that's a no-brainer, and an initial funding size that could scale as I produce returns.
Your competition are people who literally do nothing but think about the markets and their investments from sun up to sun down. I do this because I fell in love with it and can't imagine doing anything else with my life. I didn't have to ask the question of whether this is what I should do, or ask anyone else whether this is what I should do, because I already knew.
If that's you, go for it. But I wouldn't start by back-solving for what you should do now because you have the chance to raise money in the future. Anyone with good performance can raise a ton of money -- solve for the performance (which coincidentally usually requires the prerequisite passion/obsession over the markets).
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