Ask A Hedge Fund Fraud

[gold st capital]

Starting as a financial adviser, how long will it take you to build a decent portfolio? 

A lot of people say networking is hustling/ **** talking, how crucial is this in this business? (most rich people are douche and *****)

What are the main characters / strengths do you need to survive in this business?

What type of people would you recommend for this business and the one you would tell to stay away?

appreciate the input,  

Got offer for a FA (training) position at a big corporation (three year program). However i dont know if i should drastically change my career.

1. building a book as an FA depends on how good you are and a lot of luck. If people naturally like you and are willing to give you money it can take you 5+ years. it took me 2 years to build a 5MM book (praise the lord... I certainly don't think I did it myself) I generally takes 5 plus years for people to do this.
2. networking is not ***** talking its an acquired skill of getting people to trust you though they do not know you well. Its being tactical in how speak and know what to say when and knowing when not to say to much. Its being a ethical confidence man in a way. (I should cover this in detail on the blog)
3. what you need to survive, a steady paycheck, patience, confidence, a nice car (meaning something that makes you look like you have made money) proper speech and diction, supportive friends (especially a girlfriend) a propensity to be able to accept no but a tenacity to bounce back and keep pushing.
4. People who I recommend are those that want to be rich....this is not a business for those that do not want to be rich. its a waste of time if you don't want to cake off. People who are lazy and don't like to ask for money, need not apply. Rich people are not d!cks, you just are not presenting yourself well or you and that rich person do not mesh. In this business you tend to do business with people that are similar to yourself.

Don't change your career unless you want to bust your ***, the money does not come easy but when it comes, you will be making stupid money. most I made as a broker in 1 month was 25k net...I used to avg about 4.5-8k a month. This was in my 2nd year. I'm an acceptation though, i just seem to understand the business.

Good Luck man

 

[41239]

is there any advice you can give a laymen who wants to start investing?

how much should i start with so i can make sizable gains, but the risk isnt too much to break me if i drown?

i have heard that its pretty cut throat, have you ever had to crush a peer to get where you are?

 

[noskey]

How difficult is it to break into a large Wall St bank without a prestigious university education? Are internships and summer programs at someplace like, say, GS plausible for me as an undergrad at a non-prestigious west coast school?

 

[gold st capital]

is there any advice you can give a laymen who wants to start investing?
how much should i start with so i can make sizable gains, but the risk isnt too much to break me if i drown?
i have heard that its pretty cut throat, have you ever had to crush a peer to get where you are?

To start investing first read books and know what you want to invest in. don't just start investing to invest based off of things you read on the Internet. you have to know why you are investing it what you are buying and know the ins and outs of that business. Read the book how to make money in stocks by William O'Neil. if you want idea's subscribe to investors business daily.

you need 25k to do serious investing so you can qualify for credit margin.

I have crushed a few people to get to where I am, people have also crushed me. To avoid this make yourself self contained and well informed...always be looking for the next thing in your industry.

 

[goldenchild9]

Is a hedge fund composed of lower-income individuals a feasible proposition?

 

[gold st capital]

How difficult is it to break into a large Wall St bank without a prestigious university education? Are internships and summer programs at someplace like, say, GS plausible for me as an undergrad at a non-prestigious west coast school?

Its very difficult. you want in at a large Wall Street Bank and have not been to a great school....map out where you want to work and schmooze the HR manager or the person in charge of where you want to work. Be tenacious, call them and email and let them know you want to be there. they will give you a chance. Wall Street is really all about how hungry you are, till you get fed and become greedy. Very few remain hungry after making it. 

 

[gold st capital]

Is a hedge fund composed of lower-income individuals a feasible proposition?

yes....every fund can take a maximum of 35 non accredited investors. You can get more if you are willing to alter your private placement memorandum and pay the legal fees to change your fund structure.

 

[snowinsahara]

How difficult is it to break into a large Wall St bank without a prestigious university education? Are internships and summer programs at someplace like, say, GS plausible for me as an undergrad at a non-prestigious west coast school?

I have friends with bachelors from Baruch(a damn cuny) and they work at blackrock. Plus, it takes nil effort to intern at third point; seems like everyone enrolled in a 4 year that applies gets in. I know for a fact they do not have any references, nor were they cum laude. So i'm sure you can find something

 

[goldenchild9]

Baruch is actually one of the most heavily recruited and well respected business schools in the city.

 

[snowinsahara]

Baruch is actually one of the most heavily recruited and well respected business schools in the city.

well yeah, they are taking every sap with a 3.0+ gpa

. i'm sure you realize that practitioners do not respect cunys

 

[gold st capital]

well yeah, they are taking every sap with a 3.0+ gpa

. i'm sure you realize that practitioners do not respect cunys

lol, at least they are giving you youngins a chance

 

[gold st capital]

hey I approve of this thread....idk wtf you guys are talkin about cuz business of this level is not my forte but the dude did post his porsche and is dropping some knowledge.

Thanks for the support

 

[noskey]

How difficult is it to break into a large Wall St bank without a prestigious university education? Are internships and summer programs at someplace like, say, GS plausible for me as an undergrad at a non-prestigious west coast school?

Its very difficult. you want in at a large Wall Street Bank and have not been to a great school....map out where you want to work and schmooze the HR manager or the person in charge of where you want to work. Be tenacious, call them and email and let them know you want to be there. they will give you a chance. Wall Street is really all about how hungry you are, till you get fed and become greedy. Very few remain hungry after making it. 

Good to know. I've gotta focus on getting my grades up as much as possible this year (****** around my first year ) before attempting to get an internship, but good to know.

How difficult is it to break into a large Wall St bank without a prestigious university education? Are internships and summer programs at someplace like, say, GS plausible for me as an undergrad at a non-prestigious west coast school?

I have friends with bachelors from Baruch(a damn cuny) and they work at blackrock. Plus, it takes nil effort to intern at third point; seems like everyone enrolled in a 4 year that applies gets in. I know for a fact they do not have any references, nor were they cum laude. So i'm sure you can find something

Also good to know

 

[champcruthik]

networking is Key!!!!!

do you know what wealthy kids do in this business? get paid to come into a firm just so the owner can go through their contacts. I mean the owner has no guarantee he will sign any of the wealthy kids clients, its just for the opportunity to schmooze the wealthy contacts over mornings of golf.

Definitely up my alley. Golf, tennis, dinners. I've done it, perhaps not on as intense a scale or as regularly. I've learned the value of a client with a big Rolodex.

Here's another question: What's the oldest age you would set a cap for someone starting in your profession?

 

[kix2mny]

OP - I went to FDU also. Which campus did you go to?

 

[marvin hagler]

really appreciate the knowledge you dropped in this thread.

I always wondered what hedge fund managers did.

Mainly because of George Soros as I'm extremely fascinated with billionaires.

 

[nocomment6]

Great thread, thanks for dropping some knowledge!

Hmmm, first off how do you deal with the stress?
Do you guarantee anything towards clients? Capitol or a specific minimum interest etc.?

Advice for anyone studying economics in college?

 

[gold st capital]

Great thread, thanks for dropping some knowledge!
Hmmm, first off how do you deal with the stress?
Do you guarantee anything towards clients? Capitol or a specific minimum interest etc.?
Advice for anyone studying economics in college?

stress, you learn to live with an you find ways to de-stress...but you also tend to lash out at people

you never guarantee anything, its against the law within the investing profession. NO GUARANTEE!

Advice: just because you are studying economic, does not mean you have a right of passage after college. you still have to figure out what you want to do with in the field. When you figure that out then I can answer your question.

 

[gold st capital]

OP - I went to FDU also. Which campus did you go to?

Madison Campus

 

[gold st capital]

Definitely up my alley. Golf, tennis, dinners. I've done it, perhaps not on as intense a scale or as regularly. I've learned the value of a client with a big Rolodex.
Here's another question: What's the oldest age you would set a cap for someone starting in your profession?

No age restriction. long as you can think and know how to convince people to do business with you, you are solid. since this profession is not physical, people work into their 70's.

Also its easier if you start before you have kids.

 

[finnns2003]

Interesting thread. With all of your work, do you get time to enjoy life on the side? Seems like there's no balance.

 

[gold st capital]

Interesting thread. With all of your work, do you get time to enjoy life on the side? Seems like there's no balance.

Yes you get to enjoy weekends. I do not hang out with friends on weekdays though. The larger the amount of money you manage, the less time you have to yourself. This is the reason I refuse to manage over 75MM

 

[lazyj10]

Who does your audit?

Are you strucutured as a LP or LLC? Master Feeder?

Who is the Fund's council?

You accept both accredited and non-accredited...are you charging performance/incentive to the non's?

Who is your prime or introducing prime?

Who is your Administrator?

State registered?

 

[freakydestroyer]

When you look at charts, which indicators do you use? Which stocks are your usual suspects?

 

[djprestige21]

[COLOR=#red]What does this mean?

"I think that the first thing is you should have a strategic asset allocation mix that assumes that you don't know what the future is going to hold."

Ray Dalio said that, how would I describe what a strategic asset allocation mix is?
[/COLOR]