Is this a joke?
http://www.businessinsider.com/exclusive-qa-a-hed…
i think my shot of becoming a hedge fund manager just got a huge boost.
ps: should this guy be a PM instead of HF manager? like fucking BI always through big names on ppl.
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What a retard
It's not NASDAQ, STFU guy. You got bagged. IPO does in fact stand for "It's Probably Overpriced," which had to be true for the most hyped IPO of the last decade. What a clown show.
"Anonymous Hedge Fund Manager: No doubt. But this should have been a blockbuster. This should have traded to $60 or $70. This should have launched a wave of tech IPOs. "
Edit- the stock is getting absolutely destroyed...
LOL.
Guess what? He'll still collect 2% of his remaining AUM this year. Hedge fund comp is such a joke. Nowhere else can you be paid that much to be that wrong.
If only that were true. Finance is the most forgiving business in the world for those who lose money. It seems the higher profile the loss, the better job you get next time.
Or gives more second chances to colossal screw-ups. Also, when they lose money, managers don't earn any promote until they make it all back. Sometimes the economical thing to do is just shut it down and go work at a fund that's above its high water mark.
The saddest thing about these funds is that everyone analyzes their inception return.
Therefore inception may be positive but dollars returned to investor negative.
Year 1: Return 50% on $10million. Account=15million. Year 2: Investors deposit 5 million for AUM of 20 million. Return 50%=Account =30 million Year 3: Investors deposit 30 million for total Aum of 60 million. So far invested is 10 million, 5 million, 30 million=45 million. Now it only takes a 25% loss to wipe away all profit returned by manager. But it takes 50% loss to get the inception to 0%
I don't think we judge an HF's success based upon its since-inception return...
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