The Fundamentals of Hedge Fund Management, 2nd Edition

CHAPTER 8

The Launch

In life, few decisions are more difficult than deciding to become an entrepreneur. It takes guts, a strong belief in your abilities, and money. The first two are easier to come by than the third.

Wall Street, however, makes it easy for people to take the plunge. First, it provides you with the stories of those who did it before you and became successful and rich. Then it gives you all of the tools you need to build your business with the click of the mouse. In the end, what will allow you to go out on your own will be the desire and need to win. To win in the hedge fund business means you have built a fund complex that puts up good numbers, attracts significant assets, and is able to maintain both for a long time.

It may sound easy, but it is difficult. I am sure you can succeed. The real question is whether you believe you will be successful.

Only you can answer that question. If you hesitate and say you think so, my suggestion is to stop reading this book and go back to working for someone else. If you answer yes, you should read on. You know in your gut whether it is the right decision, and you have to be honest with yourself. Remember, the gut never lies.

Taking the plunge and going for it will be exhilarating, exciting, and difficult. In the end, it will be worth it.

Unlike opening a dry cleaner, pretzel stand, or bookstore, the hedge fund world is a complete enigma in the world of entrepreneurs. There is no other industry I know of in which two people ...