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How I Failed A Hedge Fund Manager

Many of my graduating high school students eventually land careers in finance. 

That’s where the money is.  I live in Singapore, one of the world’s largest banking districts, so their aspirations make sense.  A rich private school, one block from Wall Street, would see much the same thing.

A couple of years ago, one of my former students came back to visit.

He told me he was going to be a hedge fund manager.  “Are you sure?” I asked.  “Do you really want to charge people 2 percent per year plus 20 percent of the fund’s profits?” 

I expected his face to fall. But it didn’t. 

“If people are dumb enough to pay, that’s their problem,” he smiled. 


Read the rest of the AssetBuilder article here: How I Failed A Hedge Fund Manager 

Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School and Millionaire Expat: How To Build Wealth Living Overseas. My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions.

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5 Responses

  1. Richard says:

    There is still hope for your former student – many people who get into a career where they know they have a negative impact eventually seem to tire of it. The only question then is what it will take for them to accept a lower income…

  2. Lex says:

    What about the long term track records generated by Soros, Rogers, Dalios, Einhorn, Cohen, Ackman, Icahn, Griffin, Simons, Tepper, Tudor, Englander, Cooperman, Druckenmiller, Dubin, Loeb, Shaw, Steyer, Bacon….etc over the years? I don’t get your point.

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