Hedge Answers

Its Monday therefore we are…

May 14, 2007

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Mondays always begin with something. Today we have the Chrysler Group / Cerberus Capital Management deal which to me is another situation where the private equity and hedge fund managers have figured out a way to take advantage of poor management, scared unions and weak sales and turn it into something profitable. Mark my words, three to five years from now if not sooner, the new Chrysler will go public and Cerberus and its investors will laugh all the way to the bank.

Over the weekend I got yet another question about how to go about finding a job. I am thinking of going into the headhunting business! But seriously, the question to me was where does a 20 year hedge fund industry veteran look for a job? The answer is as follows – in two parts: First, use your network, get the message out that you are looking for work, talk to as many people as possible and make sure they know you are looking for a new opportunity. You need to market yourself – get the word out to the masses Second, you need to go to the websites and check with the headhunters. Over the last few years as the hedge fund industry has grown, a number of websites focused on financial services jobs have added hedge fund sections. Two that are good are: www.efinancialcareers.com and www.jobsearchdigest.com/hfsd. Also, Albourne Village has a great listing of jobs both here and in Europe. If you don’t want to go the website route there are a few headhunters I know that focus on hedge funds including Barry Emen at MJE Recruiters Inc.: bemen@mjerecruiters.com and Carol Coleman at Coleman & Company LLC: carol@colemancompany.net both do a good job and seem to have their fingers on the pulse of the… Read More »

The Blog Day 2

May 11, 2007

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Yesterday, after spending a number hours setting up the blog, the first question came in. The question as a phone call from South Africa. This person, I will call him Mike to protect his identity, wanted to know how to get into the hedge fund business because like Willie Sutton, he knows it is where the money is.

“It seems from reading your books, and doing some research, the hedge fund guys make all the money,” Mike said. “What can I do to get into the business; I want to make a lot of money.”

The answer is I really don’t know. Breaking into the hedge fund industry is hard even as the industry is in the midst of massive growth. Today, there is a lot of competition and people from all walks of life are trying to get a job at a fund.

Since Mike has little or no experience, I suggested going to work for a local money management firm in Johannesburg. He wanted to know if it was a good idea or even possible to volunteer to work for some of the large funds like SAC, Maverick, or Tudor. He said he had read about how much money these firm’s and their principals make and thought it would be good to try to volunteer at one of the firms to get experience. I did not know how to respond and told him he could try. It seems out there but not that out there, if you know what I mean!

Mike’s question is not unlike many raised every day. Unfortunately, there is not an easy answer. It seems that right now, everyone is trying to get into the hedge fund game. Whether it be as a manager, an investor or a service… Read More »

The First Post

May 10, 2007

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Good morning. Welcome to HedgeAnswers the blog! The idea for this blog is to provide answers to questions people have about the hedge fund industry. Simply put, it is an “Ask the Expert” forum for you to find out, who, what, where and why’s of hedge funds. In the absence of questions, I will provide a commentary (approximately once a week) of thoughts, ideas, and information about current trends in the hedge fund industry.

Also, in conjunction with this blog, I have launched a series of unique events to provide information and insight to those interested in learning more about hedge funds. HedgeAnswers Afternoons, are half day events in Philadelphia on June 13, Chicago on July 17 and San Francisco on August 2. These are really going to be great opportunities for people to exchange ideas and information about how to get into the hedge fund industry. To learn more about HedgeAnswers Afternoons goto: www.hedgeanswers.com.

To learn more about me goto www.danstrachman.com
Thanks for your interest.