Oct 17, 2022·edited Oct 17, 2022Liked by Frederik Gieschen
Definitely looking forward to the journey. Being completely honest with myself. Thankfully, I know that I'll be able to operate with an extremely low cost structure for the first few years. I'm not worried about my stock-picking abilities either. What I'm most worried about is attracting outside capital once I leave the incubator. This is what scares me.
May 22, 2022·edited May 22, 2022Liked by Frederik Gieschen
Great article for emerging hedge fund managers. I realized that this business of managing money early was going to be hard when I was told by Chase Bank that they do not open checking accounts for investment companies. I have 3 business accounts with Chase, by the way. That singular encounter has framed my expectations of what to expect. You can't even market or advertise like a regular business. It's going to be hard, very hard.
I am reading books on how to develop mental toughness like a special forces soldier, consumer psychology, prospecting, sales and marketing.
Insightful note hugely useful for all budding money managers. If they focus solely on sharpening their craft business will follow but very few do that! Thanks for sharing.
Reverse engineer the web content of the large wealth management funds and create a blog without promoting your own fund. It will create thought leadership.
Michael Burry, M.D. suffers from Aspergers syndrome. He created a blog about undervalued stocks and made good predictions. Someone paid attention and later seeded his hedge fund.
priceless piece. im an emerging manager and had to learn many of the above lesson the hard way. i wish i had read and followed your blog before we launched, prob would have helped with many sleepless nights.
I am 30yo. Have been managing money of mine and family for 4 years and had a dream of managing for others but its been very tough to leave outside of inner circle. Really tough business to start. I think eventually i have to realize that i have to let it go and focus on my career
This was well though out , fantastic and articulate. As an allocator in my previous avatar I agree with all the points you make. As I embark on the emerging manager journey, I guess this is the time to ask myself all those questions that you listed and clear up the clutter around the primal question - craft or business?
Definitely looking forward to the journey. Being completely honest with myself. Thankfully, I know that I'll be able to operate with an extremely low cost structure for the first few years. I'm not worried about my stock-picking abilities either. What I'm most worried about is attracting outside capital once I leave the incubator. This is what scares me.
Great article for emerging hedge fund managers. I realized that this business of managing money early was going to be hard when I was told by Chase Bank that they do not open checking accounts for investment companies. I have 3 business accounts with Chase, by the way. That singular encounter has framed my expectations of what to expect. You can't even market or advertise like a regular business. It's going to be hard, very hard.
I am reading books on how to develop mental toughness like a special forces soldier, consumer psychology, prospecting, sales and marketing.
Wonderful. Really appreciate you sharing your story and thoughts.
Insightful note hugely useful for all budding money managers. If they focus solely on sharpening their craft business will follow but very few do that! Thanks for sharing.
I'm surprised noone's mentioned "the e-myth revisited" https://www.blinkist.com/en/books/the-e-myth-revisited-en
Here's a tip
Reverse engineer the web content of the large wealth management funds and create a blog without promoting your own fund. It will create thought leadership.
Michael Burry, M.D. suffers from Aspergers syndrome. He created a blog about undervalued stocks and made good predictions. Someone paid attention and later seeded his hedge fund.
Great article. I appreciate you sharing these insights.
priceless piece. im an emerging manager and had to learn many of the above lesson the hard way. i wish i had read and followed your blog before we launched, prob would have helped with many sleepless nights.
I am 30yo. Have been managing money of mine and family for 4 years and had a dream of managing for others but its been very tough to leave outside of inner circle. Really tough business to start. I think eventually i have to realize that i have to let it go and focus on my career
Excellent insights and advice, applicable to any business or partnership. Thank you Neckar.
Excellent article, which struck close to home more than once! We should indeed spend more time objectively analyzing our own business models.
I think the point about understanding allocators perspective and incentives is the key.
This was well though out , fantastic and articulate. As an allocator in my previous avatar I agree with all the points you make. As I embark on the emerging manager journey, I guess this is the time to ask myself all those questions that you listed and clear up the clutter around the primal question - craft or business?