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The Hedge Fund Book: A Training Manual for Professionals and Capital-Raising Executives by RICHARD C. WILSON

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Chapter 4

The Shooting Star

The skills that get you out of Egypt are not the same skills that will bring you to the promised land.

—Joe Polish

This chapter focuses on managers of rapidly growing hedge funds, what they typically invest in, and what they do to keep the growth of their fund business moving forward. In this chapter, I touch on marketing tactics, reinvestment focus, and team building.

Why important: Fast-growing “shooting star” hedge funds have different needs, challenges, and opportunities than emerging hedge funds and giant $1 billion-plus hedge funds. The advice in this chapter is important because with consulting rates easily breaking $300/hour for this advice, most professionals do not freely give it away online or at many conferences or networking events.

18 LESSONS FROM SHOOTING STAR HEDGE FUNDS

Fast growing hedge funds are unlike most large and emerging hedge funds. These managers have figured something out and are positioned to grow, unlike more than 90 percent of the industry. Here are 18 lessons that can be taken away from some of the fast-growing hedge funds we have worked with:

1. They take transparency seriously and work to be proactively very transparent—more so than their competition. They take transparency into consideration from the investor's point of view.

2. They approach multiple investment channels but mostly ignore those completely out of their reach (for example, they ignore potential pension fund clients if they are running a $75 million ...

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