What to do next?
1 year on sell-side, began managing money for family 4 years ago and made a killing. Started a small fund and ran it since then. Recently blew up. AUM<10m. Am I screwed here? Would any fund or pod shop even consider me? Finance major but non-target and GPA ~3.7. Didn’t think I’d ever have to consider working for someone else again but here I am. Any advice or opinions welcome. Thanks
MBA
Was 10mn the size of the fund, or are you saying that post the blow up there is only 10mn left. What was it at peak?
On another note... what happened to your relationships? Assuming you made a killing for them for a bit, but then you lost all their money?
No idea honestly re: what you should do tbh. Was your sell side a good name brand? If so, it might be worth recruiting to biz dev at pod shops and seeing what happens. Whats the worst that can happen - only one way to find out, and assuming your modeling skills are strong enough, they might be willing to entertain you in the process since the initial screen seems to be wider at times. For everything else, might be tougher sell... MBA sounds like a decent option here...
Peak AUM around ~8m. Sell-side was boutique, small name in NY. Relationships at all-time low, basically none left apart from some close friends. Trying to stay positive but not sure what’s left to do. Would MBA be a viable way back into HF? Thanks for input btw.
8mn isn't a HF - you were day trading with friend and family capital in a PA and blew up. I wouldn't advertise this tbh
Why did you blow up - were you gambling on 0DTE and full levered into tech?
What has been the feedback when interviewing or applying for things?
MBA program exit options are basically the same as they would be for someone with 1yr of boutique sell side and then doing nothing for 4yrs (not impossible but remember there are limited seats for the roles you want to recruit for, and lots of competition within your class, many of which will have brand name SS or PE or LO experience already). Also getting into right program can be tough...
Network, network, network. Find a job that gets you back on track. Work on your stock pitches. Never say never
Never said it was, and wasn’t advertising anything. Just saying what happened. Just thought this was the thread to ask on. I appreciate the advice
Sorry my b. I may have come across curt- I’m just navigating earnings at the moment. My impression was that you were saying “back” to HFs and so you viewed this as a HF of sorts and might communicate that to prospective employers, in which case I recommended you not “advertise” or tell the story that way. Anyways, I’m sorry you’re in this position, truly. I know it probably feels like everything is f’d up permanently. I assure you that’s not the case. Be kind to yourself, and keep going
This is why family money doesn't often last long in America. Imagine slaving your life away to provide a prosperous life for your children and grandchildren and your degenerate son/grandson daytrades it away and loses it. Some people just don't deserve money lmfao.
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