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Hedge Fund Presentation

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by

Jonah Schumer

on 22 May 2013

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Transcript of Hedge Fund Presentation

John Paulson's $53 million Colorado ski ranch Net Worth: $12.5 billion Daniel Loeb's $52 million "April Fool" super yacht Net Worth: $1.5 billion Steven Cohen's $64 million William de Kooning painting Net worth: $8.8 billion What do these billionaires have in common? Hedge Fund Managers. They are... Steven Cohen John Paulson “...incentives-aligned risk-seeking vehicle that can encompass virtually any investment strategy under any market condition.” FEES, FEES, and more FEES 1-3% of assets-under-management
20-50% of annual profits Typical fees: "2 and 20" THE NEW ELITE What makes a successful hedge fund manager? Qualities? Mantras? Principles? Approaches? Lessons? Whitney Tilson Adam Joffe 5 Patience Adaptability Guts Connections Business sense Dow Jones Industrial Average "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes"

~The Oracle of Omaha Michael Steinhardt The market is changing, are YOU ready? “Be aware of change. Buy change. You should be willing to buy or sell anything. So many people say, ‘I could never buy that kind of stock,’ ‘I could never buy utilities,’ ‘I could never buy commodities.’ You should be flexible and alert to investing in anything.”

~James B. Rogers George Soros "...much more useful to know a little about a lot of things so its easier to spot where the 'big wave' is coming..." "I don't hire these guys to be conservative." ~Mark Yusgo "We're not afraid of the downside of different situations when we've done the analysis. Some other people are very afraid of losing money, which keeps them from making money" David Tepper $8,000,000,000 In 2009, he earned.... for his fund He personally took home... $4,000,000,000 "...the best managers gather information from other funds and other managers and figure out how to focus their time and money..."

~Gerard Goetz, analyst at SAC Capital "What do you think about Company XYZ? "What have you guys been looking at recently?" Julian Robertson "Social Investing Style" The best hedge fund managers are business people.... "Great managers are focused on client money and growing a business - making a name for themselves...You can be the smartest guy in the world, but if you don't have a good name you won't have a good business for very long; a strong reputation is very important..."

~Dr. Paul White of PNC Wealth Management "Years when you don't perform well, your business has to carry you through to raise or at the very minimum, preserve capital..." "I am a better investor because I am a businessman..." Warren Buffet “Think about investing as the purchasing of companies, rather than the purchasing of stocks.”
~Whitney Tilson Schumer Asset Management

-Patience
-Adaptability/Flexibility
-Guts
-Connections
-Business sense TO REITERATE: Long-term investment horizon Not limited to investing in only one particular market sector (such as Automotive which I know very well) Not afraid to increase a position of mine if the opportunity presents itself Asking opinions of those with expertise that I lack Frequently updating my investors on my fund's holdings and future plans Thank you. Stock-picker Currency trader Financial Industry = Huge Network. What makes you effective at what you do? Who are your investing idols and why? Are there any mantras/principles that you stress with your investment team? Understand how businesses funtion, grow, and compete Dan Loeb PATIENCE. Are hedge funds simply tools for the rich to get richer? YES and NO California Public Employees' Retirement System Hedge funds may soften the impacts of financial crises/market corrections and identify weaknesses in certain financial and central bank policies. Are hedge funds, by nature, evil? NO...
They are small enough to fail.
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