How I Started My Hedge Fund

[@makedollarsandsense7194]

I like his style. Keeps that neck protected at all times. Makes him immune to margin calls

[@ackilla86]

LMAO...thank you

[@ryansaadat9095]

"Protect your neck from volatility with derivatives" - Wu-Tang Clan

[@schnaiderservius2957]

Haha you're right

[@colevidmar1191]

Very clever, also hilarious

[@WrenchGuru.]

Lmao

[@purepatrick]

That was a great interview. I enjoyed watching this young entrepreneur talk about launching his fund. A very mature discussion that many young folks should listen to. More of a how to become a successful person with financial success as a back drop. The interviewers asked insightful questions and really kept things moving. Great video. Keep up the good work!

[@fourlokody]

this was worthless: he basically said general advice like network, be nice, know what your doing. I wanted to know how he started a hedge fund. i didn't learn that.

[@ThePrometheus617]

True but that advice is timeless. Especially in a career with tons of human interaction.

[@saltymonke3682]

that's the secret. He won't tell you whom

[@ClearOutSamskaras]

@Kody Parsons Get in touch with him.

[@davidoconnor1773]

Not really, you just weren't paying attention. He gave you tons of insight as to how to setup and structure a hedge fund, what to expect in the first few years, what not to do, how to scale, and specifically which people to connect with as you grow. If you want "the 8 steps to starting a hedge fund", go on Amazon. Even just knowing that good stock picking doesn't make a hedge fund, and that thats not why people invest in them, is probably good enough info to make a lot of people rethink trying to start their own fund.

[@pillsberrydopeboy851]

you need a track record. like dude said, you need to have a history of making a lot of money on stocks

[@ethanmce]

Such brilliant and succinct observations from a person that young, absolutely, a must see.

[@udaykhanna9403]

That's one of my favorite conversations on the Compound. So intuitive and real. Thanks guys!

[@Hunters_Web3]

I’m glad that I came across this video. I started a Hedge Fund recently and I’ve been look for videos and writeups to keep enhancing myself.

[@fedelixtaboe1842]

Congratulations 🎉

[@MrSupergibs]

This is really a good lesson in people skills, expectation management. Well done to all of you!

[@kathleenmuir2033]

So many great points: recognizing the need to consider Marketing, operational backend, safeguarding capital,. Loved the line' have durability during volatility. You all left the best bit to last. Be nice and be a giver. Brilliant.

[@isaiah3107]

Never heard of either of you guys but I thoroughly enjoyed watching this and I'll be subscribing.

[@drunkntigr]

Feb 20 How I Started My Hedge Fund. Feb 28 Day In The Life Of A Burger Flipper All jokes aside, thank you very much for doing this interview. Always love seeing different perspectives.

[@The091298]

Thank you so much Dan, Josh, and Michael! I'm going to rewatch this several times to absorb as much as I can.

[@karmathebrit7856]

The people he was talking about was literally the WallStreetBets reddit 😂

[@brianbirnbaum9760]

LOL yes

[@virx7944]

Watch your tone ! That’s the meme and the legend you are talking about, show some respect.

[@blakeneher]

How many margin calls has turtleneck gotten since this interview?

[@aceshah6671]

I hope he had some short strategies

[@victornyamu2547]

Just Us bwahahaha. and we're still going lower

[@JohnDoe-xt6ow]

I was wondering how he made out, too. It was a vicious market. But with right strategies, you can make money in ANY market. Shorting, of course, needed in this market and getting out quickly when you were on the wrong side of things. A buy and hold strategy would have been painful.

[@kevinjacob2416]

Lol

[@theprocessof]

Never get tired of watching this.

[@edwardblack9263]

So. He is 28 in 2020 and launched in 2015. He launched a hedge fund at 23. Think about that.

[@saleh.hashmi]

yeah bs.... he has no wealth.

[@free2rhyme214]

And Vitalik Buterin was 19 when he wrote the Ethereum whitepaper. There's always people like this.

[@nm9xk]

Sounds like he used his parents money. No way you’ve built enough of a reputation on the street by 23 to attract outside capital.

[@5thHouse]

@@saleh.hashmi if he had wealth his clothes would fit him correctly

[@52baldingindianjanitor72]

@Alexander Leblanc I think if anyone claims to start a successful running hedge fund by 23, it warrants at least some scrutiny. Hard to fathom that you built that large of a network as this guy preaches by that age, there's probably more to the story. Not saltiness, just reasonable suspicion.

[@seancullen99]

The books are yet to be written and the final losses yet to be tallied on how much a significant number of major hedge funds have cost the US economy since mid Feb 2020 because quietly and in the background, they have been bailed out en masse by a government that deemed them too big to fail. Why? They leveraged long and aggressively on a market they thought couldn't fail, and now we are paying for their gambling as we always do. And make no mistake, it was pure gambling, with multiple 10s of leverage with money they did not have, which was in the end, your money.

[@flippantfishtaco3132]

It's interviews like these that are the reason I subscribed to this channel. How can I get more of this and less of the daily chatter episodes?

[@GSD-]

Great advice and story! I’m cheering for this guy

[@theartofblank]

Super Mugatu! The Compound is like the jelly of the month club - the gift that keeps on giving. More Dan and Tony Dwyer please - can we get them weekly?

[@TheCompoundNews]

thanks for watching! We'll have them back!

[@MrSupergibs]

I actually think that's the right approach for life in general.

[@abhushanchataut4913]

Loved it. My dream is opening a hedge fund after all the skills and networks i build and learn. Keep uploading videos. Learnt a lot

[@abhushanchataut4913]

@@kenolent8611 Thanks a lot

[@MRZEROTOINFINITY]

I took some notes! A hedge fund is not just stock picking..it's a business. You need systems in place to handle all inbound leads. Anything under $5M per client is just a lot of tedious paperwork. Stick with 20-25M. Starting a hedge fund may be down the road!

[@MRZEROTOINFINITY]

Travis Konermann 💪

[@MrBrosifXD]

haha sureee

[@MRZEROTOINFINITY]

sbtopjosh 👍

[@bigray712]

first video i've seen on this channel and very impressed. some real gold nuggets here.

[@jeffreybuffkin9108]

8:12 - When Josh Brown mocked quants, I felt personally attacked 😂

[@AW-ud6eh]

I felt that ): I’m guessing he’s not a quant

[@TheCompoundNews]

Lighten up - JB

[@rudrabhojbhati2355]

Usually only salty weaklings condemn quants.

[@neils1501]

more of this content please

[@DexterTheDuck]

Great insight from Dan and I thought Michael asked some really great questions. You need to have Dan back on again.

[@JohnDoe-xt6ow]

Good advice. Nice guy. Liked hearing how he set up his companies and where.

[@garrettsite]

What is the book they mention at the end of this? The go-giver?

[@rossmoore1155]

“I didn’t have my grandmas money” Dan has Philips Andover on his resume......guess he got the diversity high achievers scholarship to there and notre dame right?

[@ablanikihyung7801]

lol good one

[@dogestranding5047]

Maybe not grandma's money, but grandpa's money, uncle and aunt's money, mom and dad's money, money from friends of the family, and of course money from his professor and from other school connections. It's not as if all hedge fund managers come from fancy private schools though. Just seems like it's a lot of them.

[@Sooperkoala]

I love this discussion so much. Honesty is the best policy

[@bateaubaybubble3730]

There was only one Star Wars movie. The original. Apart from the final comment, this is a very good interview and teaches so much about starting and running a personal relationship type business. Thanks.

[@jaefourtrades]

Tons of Gold in this one!

[@DP-dc2vv]

Age aside here, where's the edge? He's a stock-picker. Looks like he'd worked for about a year before starting the fund and his partner was an analyst at Citi for a year before. Congrats on making it work, but genuinely confused who's allocating to him.

[@jeoboden]

60/40 is the edge

[@flyingiguana409]

@@jeoboden 33/33/33 is the new edge

[@JohnDoe-xt6ow]

Scan the markets, looking for extremes to invest in and/or short-term trends to jump onto. And, remember, it is NOT concentrating on the money you want to make that will make you money. Nope. Not at all. It is making sure you manage concentrate on limiting any losses to keep them small while you can keep them small. If you avoid big losses, you will make money on your winners. Concentrate on making sure you keep losses low. Use OCO orders a lot. Use a trading platform that allows quick trading like ThinkorSwim by AmeriTrade. Know the fundamentals as well as the technicals. Many know just one or the other. But most importantly, know that the market is always right and that there is no need to take more than a small loss on anything. Don't love anything. Just love: 1) Not losing money. 2) Taking a profit when the rise stops (even if you only end up with a small part of that stocks/investment's overall rise. We've been doing extra-ordinarily well by doing this.

[@jeoboden]

@@Recraw7 how so

[@HowItHappened]

Really interesting discussion with insights from the inside. Thanks for sharing!

[@AT02031234]

First video I've seen from your channel and subbed as a result 👍🏻

[@InclineWealth]

Great video. Curious, did he close his first fund or keep it alive and merged with two other partners?

[@3lions9]

Amazing interview, so much valuable information

[@TheCompoundNews]

Thanks for watching!

[@parfaitbusinessservices3751]

Very good questions in this interview

[@garyleider2701]

You're doing great stuff! Thanks!

[@TheBRICClub]

1st time watching you guys. Excellent show

[@UnkleRiceYo]

You guys ask great questions!

[@veticanagitau8861]

Wow, managing your life with psychological risks!! I love his approach to it all!

[@Fairplay2015]

I like that all three here have BIG Mics in front of them...

[@medicareresources]

You guys are awesome. Love your channel. Great stuff and very inspiring.

[@TheCompoundNews]

Thanks so much, Mike!

[@vargaskenneth8837]

Hedge funds is great but I think it's most prominent in the 80's. During this 21st century, I will advise you invest in the stock market as it brings about immediate and huge turn-over.

[@jakethompson8737]

I also hold the same views but somebody told me that you can only invest through a manager but I became so skeptical since I heard that . How true is that?

[@kevinjohnstone4023]

@@jakethompson8737 The person who told you this must be an honest person because that is the best advice anyone who understood the market very well will tell you. Get yourself a portfolio manager who will manage your investment for you.

[@driftgod7894]

She is indeed an experienced expert in the stock market.

[@thepotter867]

@@paulinescholes6797 Thanks so much, I just dropped her message waiting for her response.

[@r.a5765]

@@jakethompson8737 That's totally untrue. Anyone can invest and the downside to investing through a manager, is that a lot of your returns are eaten by their fees.

[@rampcapital9895]

Please link to Dan's turtleneck/jacket combo in the show notes. Thx.

[@Lifeissorich.]

Ramp!

[@sohambhatia]

it was definitely a fit lmao

[@lancesaville6191]

ready to captain the enterprise

[@apga1998]

Don’t forget! For the hedge fund manger, this can be an extremely lucrative business. But for the investors? Warren Buffet trashed a group of hedge funds and won a 1 million dollar bet when the S&P index 500 fund that he was using as a comparison, far outperformed a group of highly paid managers over many years. Good luck!

[@brandonvillatuya9539]

20:49 the way he said "do it" sounded funny

[@wcc1212]

Great interview.

[@brianbordenkircher52]

Thank you for your perspectives!

[@CS-qc7np]

There’s nothing wrong with grandma’s money! 😂 And, at 12:00 Josh said something I try to get my kids to understand.

[@hassaninvesting]

Awesome video!! Always learning

[@mulemule]

*Micro-primer for those desiring **_effectiveness_** with ANY start-up. Bottom Line? Soft-skills empowered by **_integrity_** rocks; fast-and-loose **_walks._* 🏆

[@ahmedzakikhan7639]

How do you start your Hedge Fund career without a IB/PE job fresh off your university ?

[@InvestToLive]

This was a really great video. The take away is that you CAN start a hedge fund at any age and economic cycle but you should be prepared to face adversity both from the markets and your closest associates.

[@jorghoffmann9865]

Some intresting sideview. I thought that I can get a closer look to their strategy and investement aspects.

[@wilsonmanch6773]

Anyone can do good when the market is doing good. Even an idiot can pick winning stock in such time. But it is what you can do when market is crashing. The difficult part is when is it going to crash? Tomorrow? Next week? Next month? Next month? Next year? So it is the risk management and solid rock cold stop that matters.

[@schnaiderservius2957]

This was a great interview! Great questions was being asked.

[@berlin5403]

How much return a hedge fund give in normal market setting ?

[@kwanelemoima1029]

I saw Dan McMurtrie and Todd Krakow first came into mind

[@nshpokerfish]

Exactly, a fat Todd Krakow

[@kingbradicus]

This is a top 5 episode. Nice job guys

[@moneyprintergobrr6501]

I will keep trading my own many and grow and focus on performing the best not worry about regulations and convincing investors.

[@gatti3933]

michael is tuned the hell in. Jesus this guys intensity

[@ibrahimhassanlabib3085]

top quality content awesome keep it up !

[@jay-trades2455]

Hey guys, I own 19 shares of Tesla stocks, what would be my best option insurance play incase they drop any lower.

[@patrickl.2761]

That was great ! Thanks guys

[@marcusvos7060]

OK that blazer is making his hands look tiny.

[@kirkkim1818]

He's dressed like a bouncer at a hotel club/bar.

[@Hz-qz5mr]

Any books you recommend to learn on how to start the hedge funds

[@dogestranding5047]

He makes it sound pretty difficult in raising money for the fund, but I also remember having seen a fund called "The Astrologer's Fund" or something along those lines. How the hell did they manage to convince people to entrust their money to them?

[@Imperator100BC]

WD Gann a very successful investor swore by astrological trading so I think he gave it some sort of "credibility" despite it sounding completely ridiculous and more than likely, it is ridiculous for most people.

[@llClassifiedll]

What’s the intro instrumental? Sounds like 90’s Hip Hop...something you’d hear A Tribe Called Quest, Das effex, or Gang Starr rap over

[@blockedia7290]

Awesome interview!

[@jeffreykirton1780]

“I wouldn’t say I was a huge dick. I was cocky” good tshirt material

[@edwinrosario2353]

Great video!!!

[@cosmo1kramer]

Not heard of anyone launching hedge fund in the last 10 years

[@mago3331]

great thanks for this !! I wonder how we will network now in the post corona world

[@michaelizzo5823]

Will read " The Go-giver"

[@robp.8807]

This is great. this is actually true for all companies. I do social and price data analytics for retail companies. I can do the numbers and great at creating revenue with my insights. but stuggle with getting new clients expcet my main single monster client.

[@nc6022]

What execution platform is everyone using? and why? (Bloomberg vs Eikon vs...)

[@eric47allen]

Dudes blown out for sure....pls update

[@EmilyWash]

You think so? Why?

[@AlexXanderMarketing]

Wow. Awesome timing on starting a hedge fund. I guess if yours hasn’t blown up yet, it’s about to. RIP hedge funds and market liquidity.

[@EmilyWash]

Alex Xander why do you think it blew up?

[@arunrk5590]

Did he survive the march crash ?

[@pantherenebuleuse]

Wow I really liked what he said!!!!!

[@Mohamed-ui8yz]

this page is fucking great ! love the material

[@AliA-sb2pd]

What's he mean by "they're not going to fall for that anymore" at 2:50? Do investors not like hedge funds who rely on selling puts?

[@michaellorino3560]

I had the same question...

[@hybridlifehealth1912]

@ 19:38 The fact that the guy was asked if he read a specific book and then says he doesn't know shows he is a pathological liar and to never trust him. How do you forget if you read a specific book at 28 years old.

[@kristianmurphy4606]

I think he was saying that he didn't know if his mentor had read the book, not himself

[@andrewreese9802]

1. Be born rich, 2. Something something hustle something

[@TheKhalMykeyShow]

Fuck yeah I’m glad I’ve found this channel

[@Helloobiwan]

19:40 what is book name?

[@brucelee2550]

what was that book? go giver?

[@TheCompoundNews]

Yes, The Go-Giver, by Burg.

[@YardLimit]

Very interesting. Thanks!

[@rhpmike]

Enjoyed the guest. Felt like the host tried to make too many of his own points and interrupted the flow at times. Still an enjoyable listen.

[@moisesdelcastillo6703]

Quality Stuff!!!

[@TheCompoundNews]

Thanks for watching!

[@ahmadmoner]

the book called go giver?

[@TheCompoundNews]

The Go-Giver by Bob Burg.

[@th3SyLvEsTeR]

"How do you develop friendships"

[@ghgoogle5238]

Just thinking if Hollywood wanted to make a film out of this interview it is easy to cast. Two Jonah Hills and Vin Diesel just blew the budget.

[@viennawong]

Gee, one biggest reason of my doing hedge fund is that I can shout at people

[@sidhantsinghi]

Best business in the world.

[@markcrisp07]

You know a market is saturated when KZbin channels show how newbies, who haven't even traded, can start a Hedge Fund. Anyone with enough money can start anything...Being successful is another story

[@LGH1847]

Excellent

[@wcc1212]

Started with $3M. That takes courage and dogged determination.

[@Caesar_ict]

I wanna know how you did