Ever ask yourself, “what is a hedge fund manager?” If you follow the news, you might stumble upon news surrounding the latest hedge fund investments, stock picks and quotes, and we’re willing to be that it’s made you consider the profession at least once or twice. With an average hedge fund manager salary typically north of $2 million depending on the year, it’s very easy to make this consideration.
With that in mind, what better way to learn more about the hedge fund field than by going through a few tips? We’ve already discussed how to be a hedge fund manager, and we’re going to be even more specific here.
There are an estimated 8,000 or so hedge funds actively in existence today, but only a small percentage–about 5%–manage to become truly elite, and we at Insider Monkey follow that bunch. Mega-investors like Stephen Mandel, Chase Coleman, or Andreas Halvorsen became great hedge fund managers due to their mentor, Julian Robertson, a former hedge fund manager. It’s no coincidence that many of these so-called Tiger Cubs reached some of the top positions in the smart money’s world, which also shows that it is possible to learn to become a great hedge fund manager.
While they say “money cannot buy happiness,” it surely can make you feel good; let’s take a look at this field in further detail.
Step 1: Make the right decision
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Being a hedge fund manager is not going to be a piece of cake, and learning the tricks of the trade will be hard. So before you actually get started, make sure you want to become a hedge fund manager and face all of the emotional ups-and-downs the financial world will throw at you. Learning to manage these emotions is key, and it requires discipline, hard work, and determination.
Still wondering just what is a hedge fund manager, and how to be one? Continue reading to find out: