How I Started My Hedge Fund
ฝัง
- เผยแพร่เมื่อ 11 ก.ค. 2024
- Josh here - Dan McMurtrie and his partners founded Tyro Partners, a New York City-based hedge fund, at a time when hedge fund closings are much more common than emerging fund launches. Dan lists some of the most important things he's figured out on his journey. He also talks about how one of the most underappreciated sources of alpha is being nice to people.
You can follow Dan's renowned Twitter feed / alter-ego Super Mugatu here:
/ supermugatu
Tyro Partners homepage here:
www.tyropartners.com/
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Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.
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#hedgefunds #stockmarket #investing
I like his style. Keeps that neck protected at all times. Makes him immune to margin calls
LMAO...thank you
"Protect your neck from volatility with derivatives" - Wu-Tang Clan
Haha you're right
Very clever, also hilarious
Lmao
That's one of my favorite conversations on the Compound. So intuitive and real. Thanks guys!
This is really a good lesson in people skills, expectation management. Well done to all of you!
Thank you so much Dan, Josh, and Michael! I'm going to rewatch this several times to absorb as much as I can.
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!
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.
Great advice and story! I’m cheering for this guy
Such brilliant and succinct observations from a person that young, absolutely, a must see.
Never heard of either of you guys but I thoroughly enjoyed watching this and I'll be subscribing.
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.
True but that advice is timeless. Especially in a career with tons of human interaction.
that's the secret. He won't tell you whom
@Kody Parsons Get in touch with him.
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.
you need a track record. like dude said, you need to have a history of making a lot of money on stocks
You're doing great stuff! Thanks!
Never get tired of watching this.
The people he was talking about was literally the WallStreetBets reddit 😂
LOL yes
Watch your tone !
That’s the meme and the legend you are talking about, show some respect.
Thank you for your perspectives!
Good advice. Nice guy. Liked hearing how he set up his companies and where.
First video I've seen from your channel and subbed as a result 👍🏻
more of this content please
Great insight from Dan and I thought Michael asked some really great questions. You need to have Dan back on again.
I actually think that's the right approach for life in general.
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.
Congratulations 🎉
That was great ! Thanks guys
8:12 - When Josh Brown mocked quants, I felt personally attacked 😂
I felt that ): I’m guessing he’s not a quant
Lighten up - JB
Usually only salty weaklings condemn quants.
I love this discussion so much. Honesty is the best policy
Really interesting discussion with insights from the inside. Thanks for sharing!
20:49 the way he said "do it" sounded funny
first video i've seen on this channel and very impressed. some real gold nuggets here.
1st time watching you guys. Excellent show
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.
You guys ask great questions!
Awesome video!! Always learning
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.
Very interesting. Thanks!
top quality content awesome keep it up !
Wow, managing your life with psychological risks!! I love his approach to it all!
I like that all three here have BIG Mics in front of them...
Great video!!!
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?
thanks for watching! We'll have them back!
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
@@kenolent8611 Thanks a lot
Very good questions in this interview
Awesome interview!
Any books you recommend to learn on how to start the hedge funds
Great interview.
Tons of Gold in this one!
Great video. Curious, did he close his first fund or keep it alive and merged with two other partners?
Some intresting sideview. I thought that I can get a closer look to their strategy and investement aspects.
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?
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
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.
How many margin calls has turtleneck gotten since this interview?
I hope he had some short strategies
Just Us bwahahaha. and we're still going lower
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.
Lol
You guys are awesome. Love your channel. Great stuff and very inspiring.
Thanks so much, Mike!
That was wholesome
There’s nothing wrong with grandma’s money! 😂 And, at 12:00 Josh said something I try to get my kids to understand.
What is the book they mention at the end of this? The go-giver?
Fuck yeah I’m glad I’ve found this channel
this page is fucking great ! love the material
Amazing interview, so much valuable information
Thanks for watching!
So. He is 28 in 2020 and launched in 2015. He launched a hedge fund at 23. Think about that.
yeah bs.... he has no wealth.
And Vitalik Buterin was 19 when he wrote the Ethereum whitepaper. There's always people like this.
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.
@@saleh.hashmi if he had wealth his clothes would fit him correctly
@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.
Excellent
This was a great interview! Great questions was being asked.
great thanks for this !! I wonder how we will network now in the post corona world
“I wouldn’t say I was a huge dick. I was cocky” good tshirt material
“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?
lol good one
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.
Mans got a blue blazer on and a yellow turtleneck JEEZ
*Cool conversation*
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.
How much return a hedge fund give in normal market setting ?
What execution platform is everyone using? and why? (Bloomberg vs Eikon vs...)
This is a top 5 episode. Nice job guys
Hey guys, I own 19 shares of Tesla stocks, what would be my best option insurance play incase they drop any lower?
michael is tuned the hell in. Jesus this guys intensity
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.
60/40 is the edge
@@jeoboden 33/33/33 is the new edge
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.
"How do you develop friendships"
He got 5 missed calls from momma during this 21 minute video
How do you start your Hedge Fund career without a IB/PE job fresh off your university ?
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!
Nice notes
Travis Konermann 💪
haha sureee
sbtopjosh 👍
Wow I really liked what he said!!!!!
Not heard of anyone launching hedge fund in the last 10 years
*Micro-primer for those desiring **_effectiveness_** with ANY start-up. Bottom Line? Soft-skills empowered by **_integrity_** rocks; fast-and-loose **_walks._* 🏆
I'm getting that book, that's what I'm doin
Seriously good stuff in here...despite the turtleneck...
Hey guys, I own 19 shares of Tesla stocks, what would be my best option insurance play incase they drop any lower.
Gee, one biggest reason of my doing hedge fund is that I can shout at people
Hahahaha... The subs said "raise ass" instead of "raise assets".
Great interview btw.
Smiling ovation...
I saw Dan McMurtrie and Todd Krakow first came into mind
Exactly, a fat Todd Krakow
Quality Stuff!!!
Thanks for watching!
should have started out with introducing the guy as supermugatu :)
Will read " The Go-giver"
brilliant
This guy sounds smart.
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?
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.
he's the polar express boy
19:40 what is book name?
Great interview .....
Did he survive the march crash ?
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.
4 out of how many notches?
Are you bringing it down from 11?
Or 100?
Loved this
Also, nice sweaters
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!
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.