A Deep Dive into Hedge Funds with Ted Seides (Invest Like the Best EP.7)

Ted Seides on hedge-fund structure and the fee conversation nobody finishes — everyone says fees are too high; far fewer will say what fees should be. Also the origin of a The Luna Landing connection: a West Virginia retreat built around The Hero’s Journey.

Notes

• The Hero’s Journey - #books-to-read
• Retreat in West Virginia based on The Hero’s Journey - The Luna Landing
• He wrote a book called So You Want To Start a Hedge Fund - #books-to-read
• Everybody talks about how “fees are too high” but there isn’t as much talk about what fees should be
• LP’s in hedge funds have no patience for anything going wrong so having professional business operations is critical
• Advice for people dealing with the challenges of raising money: definitely getting harder. People whose job it is to evaluate a number of industries never stop and evaluate their own industry
• Fees are a clearing price for supply and demand; investors are getting more sophisticated in what they expect and want to see
• It will take time for people to not only acknowledge how high fees are but also to change their behaviors
• Investors don’t pick managers based on cost. it’s based on perceived quality
• Portability of talent vs. halo effect from pedigree
• Big Data Baseball by Travis Sawchik - #books-to-read