I'm 19 years old and in a unique situation where me and my friend (his dad is an ultra wealthy Chinese entrepreneur) were given a million dollars to invest and use to create a rudimentary fund management firm. We were told that if we could outperform the market and create a strong foundation for a legitimate organization, that we would get another ten million in the next year. We've had the million for 8 months now and have been getting used to trading with this volume, making mistakes, developing our strategy, etc. We are up 15% and are hoping to reach our goals. However, I'm confused as to where the hell this is supposed to go. I've read on WSO that starting a hedge fund never works and it's better to break into IBD as an analyst and go from there but I think that we have a shot since we are securing capital and creating a track record. Where do I go from here? Me and my cofounder are good at trading and making plays but we have no idea how we're supposed to "create" a fund. We're just two dudes trading and having a good time. How do I actually try to make this into something that could develop into a career? What should I look out for and avoid? I just need some advice from someone in traditional finance.
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