
Starting a hedge fund
World headquarters
By April 2002 we felt ready to forge ahead. We had already spent too
much time looking like another set of would-be entrepreneurs at
Starbucks who discuss world-conquering ideas over expensive skinny
cappuccinos. The plan was to launch the fund in October when we had
raised enough money. Brian was in charge of the practical aspects, such
as our FSA application, an office, technology, etc. It is actually a very
simple business: we charge people to manage their money. We would
charge 1.5 per cent of the invested amount annually plus 20 per cent
of any positive performance we generated. The