Morning Coffee: How to become a top hedge fund manager in your mid-30s. Goldman to boost Moscow
So you want to become a renowned hedge fund manager? Financial News's Rising Stars of Hedge Funds feature offers some hints on how to go about it.
Firstly, you might want to be keen from an early age. Take 34 year-old Jakob Nordestedt, co-founder and senior portfolio manager at Mojna Capital Partners. Nordestedt became passionate about equities when he was just 15. He built Excel models to develop his investment strategy whilst at university.
Secondly, don't be afraid of working for an investment bank: Nordestedt was portfolio manager for HSBC's European Alpha and European leveraged Alpha funds, and he spun out Mojna Capital from there. Spin-outs may be less easy to achieve these days, but plenty of others on the list started off in banking.
Thirdly, find yourself a sponsor: FN's list is peppered with 30-somethings who say they attached themselves to big name hedge fund managers that 'taught them much that they know about investing'.
Fourthly, don't be afraid to start inauspiciously: 32 year old Louisa Strutt at Blue Mountain Capital Management began her career as executive assistant to the chief executive at hedge fund Ferox Capital, for example.
Fifthly, don't be afraid to take a big career-changing bet. Take 35 year-old ex-Goldman prop trader Chris Tuohy, who joined hedge fund Tudor Capital in 2011. Tuohy bet that gold would fall in 2013. He made more than $100m in profits for Tudor and was promoted to partner of the fund's European arm when that bet paid off.
And lastly, don't necessarily shy away from working with your spouse. Ex-SAC trader 39 year-old Lia Forcina runs the global financials long/short equity portfolio at BlueCrest. There, Forcina manages a team that includes her husband, the analyst Giovanni Rubino.
Separately, would you work to boost Moscow as a financial centre and Russia as an investment destination? Ever-impartial, this is what Goldman Sachs is doing. Bloomberg reports that the US bank has signed a three year contract with the Russian Economy Ministry and the Russian Direct Investment Fund to help burnish Russia's image to investors. Goldman has its work cut out: Moscow ranked around 64th as a world financial centre at the last count.
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Fred Goodwin has had his leylandii cut down to size by neighbours. (Daily Mail)
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People who go into finance should not be too clever. (Project Syndicate)
1,000 people queued for three hours to interview for just 40 jobs at supermarket chain Aldi. (Telegraph)