How to Start a Hedge Fund: Wall Street Pro Reacts to Billions TV Show: Episode 10

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In this video a former Goldman Sachs employee who worked at the top hedge funds reacts to Billions, including the TV show's accuracy and lessons that investors must pay attention to. Key topics discussed are how to start a hedge fund, how to raise capital, biggest hedge fund bribes, dating in the hedge fund industry and much more. The video Wall Street Pro Reacts to Billions TV Show (Episode 10) contains closed captions.

See my other Billions & finance movie reaction videos (which also teach finance lessons):

→ Wall Street Pro Reacts to Billions (Episode 1):
   • Wall Street Pro Reacts to Billions TV...  

→ Wall Street Pro Reacts to Billions (Episode 2):
   • Wall Street Pro Reacts to Billions TV...  

→ Hedge Fund Activist Investor / Firing CEO: Wall Street Pro Reacts to Billions TV Show (Episode 3):
   • Hedge Fund Activist Investor / Firing...  

→ Short Selling Explained: Wall Street Pro Reacts to Billions (Episode 4):
   • Short Selling Explained: Wall Street ...  

→ Insider Trading Arrest at a Hedge Fund: Wall Street Pro Reacts to Billions TV Show (Episode 5):
   • Insider Trading Arrest at a Hedge Fun...  

→ What Hedge Fund is Billions Based On?: Wall Street Pro Reacts to Billions TV Show (Episode 6):
   • What Hedge Fund is Billions Based On?...  

→ Hedge Fund Secrets: Crisis, Wiretaps, Wealth: Wall Street Pro Reacts to Billions Show: (Episode 7):
   • Hedge Fund Secrets: Crisis, Wiretaps,...  

→ Hedge Fund 9/11 Profits, Panic Rooms & Deceit: Wall Street Pro Reacts to Billions TV Show: Episode 8:
   • Hedge Fund 9/11 Profits, Panic Rooms ...  

→ Hedge Fund Makes $100mn in 1 Illegal Trade: Wall Street Pro Reacts to Billions TV Show: Episode 9:
   • Hedge Fund Makes $100mn in 1 Illegal ...  

→ Wall Street Pro Reacts to The Wolf of Wall Street Movie:
   • How Accurate is The Wolf of Wall Stre...  

→ Wall Street Pro Reacts to The Movie Wall Street:
   • Wall Street Pro Reacts to Wall Street...  

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Here are the Clickable Chapters for the video:

00:00 Introduction
00:34 Topics covered: 1: How to Start a Hedge Fund, 2: Bribes, 3: Dating in Hedge Funds
01:18 How Axe reacts to employees starting their own hedge fund.
01:58 Hedge fund fees explained.
03:05 Fees start-up hedge funds charge.
03:17 Management company / equity ownership explained.
03:34 10 tips on starting a hedge fund (or any company).
03:41 Tip #1: Performance Track Record.
03:51 Tip #2: How to Raise Money.
04:24 How to get meetings with investors.
05:35 What do you talk about in the investor meeting?
06:10 What to put on your investor slides.
06:35 Risk management metrics to discuss with investors.
07:12 Infrastructure to mention in your slides.
07:24 Tip #3: Lawyer & legal documents (offering memorandum & subscription docs).
08:16 FINRA compliance
08:23 Tip #4: Investment Process
08:59 My 100 Step Research Process for Picking Stocks
09:49 What to bring to a hedge fund interview (or an investor meeting)
09:59 Tip #5: Onshore and Offshore Banks (for international investors).
10:22 Master Feeder Structure
10:48 Tip #6: Selling Part of Your Management Company (for cash flow/expenses).
11:11 Tip #7: Offering Lower Fees
11:22 Tip #8: Writing Your Business Plan
11:31 Tip #9: Getting Free Publicity (helps with fund inflows)
12:19 Tip #10: Your Presentation Skills
12:35 Your social media strategy to get free publicity.
12:48 Writing a book for free (and downloading my free book template)
14:07 The unemotional nature of hedge fund billionaires.
15:03 Dollar Bill's "unethical" insider information strategy.
15:47 Bobby's vulture 40% management company play.
16:19 Why billionaire hedge fund managers invest in hedge fund startups.
16:33 The prestige of running a $1+ billion hedge fund.
16:56 Lockups explained.
17:36 Hedge fund bribes explained.
18:06 Och-Ziff's bribe scandal & $213mn fine.
18:48 Raj Rajaratnam's Galleon bribe scandal.
19:31 Why corrupt billionaires get caught.
19:56 Bernard Madoff scandal.
20:33 Compliance rule about employee gifts / wining and dining.
20:51 Dating at hedge funds.
21:57 Why earnings season is tough on relationships.
22:27 Why stocks gap up or down during earnings reports.
23:00 Why some stocks drop after posting amazing earnings.
23:13 Deferred revenue explained.
23:36 Bookings explained.
24:13 Rating Bottom Line (Buy, Sell or Hold Rating?)
25:16 My next reaction video.
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