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How Much Money Does a Hedge Fund Startup Need?

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June 1 -- Patrick McCurdy, head of capital introduction at Wells Fargo Prime Services, explains how small hedge funds go about raising capital and how much money is needed to start a fund. He speaks on “Market Makers.” -- Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg Bloomberg Television offers extensive coverage and analysis of international business news and stories of global importance. It is available in more than 310 million households worldwide and reaches the most affluent and influential viewers in terms of household income, asset value and education levels. With production hubs in London, New York and Hong Kong, the network provides 24-hour continuous coverage of the people, companies and ideas that move the markets.
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Text Comments (130)
Thomas Murphy (9 days ago)
Both interviewers are so immature, interrupting him over stupid comments, annoying body language, just smh
coldburn909 (19 days ago)
People are shitting on the woman but she was voicing legitimate concerns. There are reasonable questions to be asked regarding the growing institutionalization/centralization of the hedge fund industry. It’s not as easy for new fund managers to scale as it was several years ago.
Rico W (1 month ago)
my man was shaky lol
Blitz Kreig (1 month ago)
He had his eyes closed when she extended her arms for the shake which then led to a delay in response.
Alexander Carter (1 month ago)
Why do I get the feeling this guy is talking out of his arse?? Piss in your pocket all day if he knew he'd end up with your money
Clu TheMan (2 months ago)
Her body language is very telling. Did she invest with Madoff? I found her to be very unprofessional, animated and with a slight chip on her shoulder....not a blue chip.
zion whittle (3 months ago)
That lady is a dick
zion whittle (3 months ago)
She needs to Get hit by a truck
james ferguson (3 months ago)
How do you get people to give you the money
Adam Fitz (1 month ago)
get them to have confidence in you be the person you would want to take your money
DontTestTheX (4 months ago)
Predominantly sales & marketing then. Like most things.
Law19157 (4 months ago)
Will you morons let him finish his sentence what the hell
chilla (5 months ago)
Bloomberg..pls fire tht lady..! Thnx
take this feminist scuml odd the stage
SouthBayRider (5 months ago)
Guest was a cool dood sharp dood well-spoken
James Upton (5 months ago)
he doesn't dye his hair lol
M Lester (6 months ago)
Only dumbasses invest in hedge funds.
Aerial (8 months ago)
That handshake fail tho.
Aerial (8 months ago)
Great unbelievable strategy. What a goose.
Neeraj Ahire (10 months ago)
So pedigree fund managers invest in pedigree (dog food company)..am I right??
A Google User (10 months ago)
*SHUT THE FUCK UP*
Alazar Kassaye (11 months ago)
why don't these bozos shut the fuck up and listen?
Driven The Rockstar Kid (11 months ago)
Steve Cohen is one of the best and he started with a couple million ...
GjoniStar (1 month ago)
20 millions of his own money ....
Gonthor1000 (11 months ago)
He pauses and just looks at her hand hahah
bluedawnman (1 year ago)
the anchors kept interrupting the guest, you could see that in his eyes!
Aldz Trust (1 year ago)
This and this, this and that, hedge fund this, hedge fund that, is one way of saying: let's go scam more people and wreck the world economy some more!" Way to go white collard crooks!
Aldz Trust (1 year ago)
I believe you. Btw, are you one of those screw ups?
Austin Kennedy (1 year ago)
Aldz Trust clearly you don't know anything about anything. Not every hedge fund manager is a crook and it's ridiculous to make such an assumption
Cristianius I (1 year ago)
So I can create on with 5k. interesting
Nikita Dabizha (1 year ago)
That woman needs to shut up 😂
LoneWalker (9 months ago)
she is funny xD
sbtopjosh (1 year ago)
She's annoying to the point that he had to think if he should shake her hand lol
Bad Schmoozer (1 year ago)
Capacity challenges are a very real head wind that is the enemy of capital gains. Of course most "institutional" capital allocators have 0 clue. Literally empty suits. Daily I see the prices the assumed "smart money" pays, truly comedic.
Elena Aleksandra (1 year ago)
So interesting! Love true entrepreneurship and long-term value creation!
SCHRODINGER’S CAT (1 year ago)
what's with this hating the women here? she didn't really say or do anything offensive
Ruben Mendez (23 days ago)
She's sexist and women don't belong in finance
123 456 (1 year ago)
Schrodinger's Cat true
SCHRODINGER’S CAT (1 year ago)
interesting. the use of the word "talent" in trading. I don't think finance requires 'talent' to be successful as much as it does sound strategic creativity.
TJ Jackson (3 months ago)
SCHRODINGER’S CAT Strategic creativity is a talent.
DJ - Rocket Man - (9 months ago)
Schrodinger's Cat trading is a Talent if you have a great strat and you get emotional fast you will fail.
Tsar (1 year ago)
Schrodinger's Cat not exactly lol. Some of them are tipped wrongly on purpose or have very little information about it and conduct their due diligence. The 'talent' talk is a bit more specific.
SCHRODINGER’S CAT (1 year ago)
right, well put. t sounds like you may have an academic background in finance. i'm not sure what some fund managers think when they say talent. If we were to gather information on a security before it reached the public i suppose that would make us "talented" wouldnt it?
Tsar (1 year ago)
Schrodinger's Cat I'm with you. It does require a bit of talent when you're able to consistently beat the markets via your investment strategies, a lot are activist investing for positive business development changes. I believe a lot of the talent has more to do with the other actions that go into raising capital, swindling investors, indexing, Asset allocation, hedging strategies, forecasting shorts, etc. are all talent (as well as analytically) driven processes when able to distinguish.
Bonze93 (1 year ago)
I love how that bitch is shaking his hand at the end and then wipes of his sweat so damn subtle, haha
Kush U (1 year ago)
shes hot whys everyone hating
Dom J. Lva (5 months ago)
Kush U stfu you dumb fuck go and get cancer
Ali Ali (1 year ago)
That woman has no class and shouldn't be working as a reporter for Bloomberg...just look at how she crosses her arms when the guy is talking, so rude and obnoxious. Also, she has no clue on how asset allocation is done.
Larry S (21 days ago)
JaMarcus Joseph - No its stand off-ish/defensive.
Bryan Harmon (1 month ago)
This is why so many people going into the industry don't make any sense to anyone else except themselves and others in the industry - they are jargon confused (they think they make sense), they don't - they just make returns. I wouldn't hold it against anyone that's making returns - who cares - but it's not a great long term language standard for the industry.
Bryan Harmon (1 month ago)
So we have a conversation about Hedge Funds, Market Makers on the propaganda board in the background, and a general misconception of "Hedge Funds." Market Makers are "big movers" not Hedge Fund managers. Hedge Fund managers will go to Market Makers - Multiple market makers. But Market Makers can't Dole out to singled out Hedge Funds, they deal to everyone... A hedged position is a strategic position made by a wealth manager but this has nothing to do with "Hedge Funds." A bank that makes it's own hedge fund could possibly be the only cross of identity where - they all come together in one character of definition. But a mock Hedge Fund is simply another term for a private investment firm. These certainly aren't market makers and they definitely aren't wealth managers that create strategic hedged positions, they simply want to generate returns.
Bryan Harmon (1 month ago)
Market Makers aren't strategic investors - they are product hubs... He's only return driven and wants to mimic being a product driver. That's a niche service but a firm will need to work through a wealth manager that partitions funds to some "hedge funding" for the sake of returns... But an internal firm wealth manager is able to hedge their own positions through customized strategies. It's an industry misunderstanding of the term "hedge." It's like calling everyone a Democrat because the people believe in democracy, it's a general misconception of terms, looks like babble jargon - with some successful returns.
Bryan Harmon (1 month ago)
Nobody knows how to Allocate their funds... The Banks didn't even know - that's why they failed and needed a bailout. Firms don't know how to make professional allocation. And this guy is all about the dollar return but doesn't seem to care about strategic positioning, A typical hairdo investment manager. Successful non-the-less...
cool7470 (1 year ago)
The women is in fact asking the right questions. She is right that big money gets more bigger. The wells guy sounded like a quack repeating the same without any examples when asked for since his wipes the ass of all fund managers big or small.
Dontae Harrison (8 months ago)
Jesus you sound like a person speaking out of their ass on finance. Yes bigger companies get more money because they're more established with their clients and more well-known by name brand as well as more respected among the investor community. There's not gonna be a lot of clients that are gonna line up for a smaller start up. As time and experience and loyalty grows, that's when start ups get more established.
A Google User (10 months ago)
cool7470 gets more bigger LOL
Steven Labry (1 year ago)
Someone telling her what to say
Godless Libertarian (1 year ago)
BILL ACKMAN LOL
Bryan Wheelock (26 days ago)
Godless Libertarian Check his long-term rate of return, libertarian dipshit.
Space Ghost (5 months ago)
Now they can't take money out quickly enough
Martel Thomas (1 year ago)
Godless Libertarian 😂
Orlando Henderson (1 year ago)
Lol people are mad wish they can have their "Crooked Scumbag" bank account lol. I love this world that's why this world is going down day by day
Janet Diaz De Valentin (2 years ago)
All These crooks ... Hedge funds ... Just reminds me of a pyramid scheme....
NizzyNizerson (1 year ago)
Lol we aren't dealing with angels here boys, don't fall into the post trump trap of just aligning yourself with these guys, still have to keep an eye on em always look at everything with a decent amount if scrutiny, ESPECIALLY when dealing with billions of dollars like these guys are, the game they play isn't for the innocent, don't be a sheep.
Ryan Evans (1 year ago)
Hope we learned a lesson here about doing even rudimentary research before making a judgement on something.
Thank you, got it.
pepe the frog (1 year ago)
Janet Diaz here if you want to learn more http://www.dummies.com/personal-finance/investing/what-is-a-hedge-fund
Ohh.. Ok . Taught it was scheme.
DCLXVI (2 years ago)
Jesus, you guys in the comments are overreacting to her every word. Get over yourselves.
Mike Anderson 2002 (1 month ago)
DCLXVI Well said
Catie X (9 months ago)
she hurt my ears
Felix Dodd (2 years ago)
hedge funders are parasites in the most explicit sense of the word
Dontae Harrison (6 months ago)
Lol. "He doesn't need to have experience with hedge funds..." Yeah he does. What does a hedge fund do? It puts money in extremely risky stocks and also has a portion to cover the risk of losing initial investment, whether its conservative blue chips or shorting certain companies or such. And morons put money in hedge funds? Funny how John Paulson, Carl Icahn and Jamie Dimon have hedge funds, invested in them and made moves in them, and made profits off of the recession in 2008. By the way, long term returns? There was a wonderful study by Business Insider that showed the returns of the Dow, S&P, and the Credit Suisse Hedge Fund Index. From 2005-2012, hedge funds outperformed the market by a wide margin. While yes, 95 percent of funds don't always outperform the market, there are a percentage that do and some do by a great extent. Next time, do your research before sounding ignorant.
M Lester (6 months ago)
He doesn't need to have experience with hedge funds to know how they operate. Only a moron puts money into a HF. Look at the long term returns. And they don't provide any efficiency to the markets, only liquidity.
Dontae Harrison (8 months ago)
Do you have any experience with hedge funds is my first question? If not, then why are you commenting on the character of hedge funders when you haven't even dealt with them in the first place?
DJ - Rocket Man - (9 months ago)
Felix Dodd you loose a lot of money kiddo hahahaha
Jason Castle (2 years ago)
what a bunch of fucking idiots
Jordan Resendiz (2 years ago)
does anyone else feel the shade bouncing back and forth?
Mega Thingz (2 years ago)
Cringeworthy. All this huff and puff micro managing and not enough balls on the price action in the retail sector.
Eric Suh (2 years ago)
that bitch is so annoying. go make me some eggs
jaytok7 (1 year ago)
"cook the man some eggs" - once were warriors
bangsbangz (2 years ago)
+Eric Suh hahahaha
xxxxxGhostBoyxxxxx (2 years ago)
Congratulations, she plays the 'bitch' role perfectly.
Frost (3 months ago)
I think she's funny and refreshing that joke about two women and bloomberg was funny but they thought she was serious.
incipidsigninsetup (3 months ago)
She's not bitchy she just likes to push past the double speak b.s. and get to the heart of the truth. A tough, knowledgeable woman who has no time for bs would seem like a bitch to weak insecure men.
Kevin S (4 months ago)
This is why women got discriminated all the time, they play bitch because they want to be looks smart and masculine like men, which they will never be
M Lester (6 months ago)
Plays? It's sincere.
Phil King (2 years ago)
OMG that woman is so irritating! Clueless!
Kevin S (4 months ago)
True, this is why women got discriminated all the time, its not about men, its themselves
Jjjo (9 months ago)
bambang303378 one year later I hope when u see ur previous comment u will realize what a pathetic internet white knight u are
lulu mink (11 months ago)
Who gives a shit about the virtue of the entire system? People in this industry want to make money. It's that simple. If anyone who works in the financial industry tells you he does because he likes the morale, world changing, world saving or other BS is straight lying. Your point is not false, but you need to question that somewhere else.
Phil King (2 years ago)
+bambang303378 No, if you read my comment carefully you will notice that I in fact did not say that. 
bambang303378 (2 years ago)
You are drifting from the original subject here pal. The original topic was. You feel that you have accomplished more than she did in term of financial accomplishment. 
Halse82 (2 years ago)
well they kind of beat it out of him,great info.
Good info.
Derrick Estes (3 years ago)
Who does this guy think he is? What a stiff.
Jack Brady (2 years ago)
In what way? He knows what he is talking about.
Halse82 (2 years ago)
+Derrick Estes it could very well be nerves.
Peaton (3 years ago)
Flipping paper like burgers, and making duckets from the suckers.
joe ramone (2 years ago)
+George Costanza Because he's unmotivated and uneducated.
George Costanza (2 years ago)
+Peaton Sure buddy. Just like flipping burgers. Why exactly aren't you a billionaire yet?
alex boone (3 years ago)
He didn't want to shake her hand, and he shouldn't have.
Ella Blun (2 years ago)
+alex boone cause he's afraid she'd break his bones? pathetic soulless piece of shit
Brian Jackson (2 years ago)
this country is so damn corrupted it's a shame
Alex K. (2 years ago)
+alex boone I think he was a bit surprised that some interviewer actually offered a handshake, which doesn't seem to happen often.
LureScape (3 years ago)
+shyF0x Yeah I think it was a great discussion. Sad this video only has a few thousand views :/ Maybe if more of our society was interested in educating themselves about the world and how the country operates then we wouldn't be where we are now socially 
shyF0x (3 years ago)
+LureScape selling the soul was raising capital by partnering with a big boy, but maybe you're right. I still stand by that she and the guys were great in this vid.

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