macrocephalopod on Twitter: "IMO this is the model that best aligns GP/LP interests -- allows you to hire or invest when you think there is a business case, disincentivizes asset gathering, allows you to have sub-PMs with a contractual payout w/o worrying about netting risk.… https://t.co/I4rFphPpeT"

@macrocephalopod

Paul Allen, Vice President M&A, Pierce & Pierce (Sie/Hir) | Vegan | Silence is Violence | Women’s Rights Are Human Rights | ACAB (Assigned Cephalopod At Birth)

Joined December 2020

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Chairman Birb Bernanke‏ @Bonecondor 10 Mar 2021

there is at least one person that I follow on Twitter that I would give my money to invest if they started a hedge fund tomorrow

37 replies 5 retweets 26 likes

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macrocephalopod‏ @macrocephalopod 10 Mar 2021

Replying to @Bonecondor

Of people who don’t already run or work at a hedge fund? Would think about @goodalexander @KrisAbdelmessih though would still want to see track. Don’t know what @modestproposal1 or @MagnusMacro do for a living but could be good candidate too. Bar is very high!

1 reply 0 retweets 14 likes

macrocephalopod‏ @macrocephalopod 10 Mar 2021

Replying to @macrocephalopod @Bonecondor and

Lots of people who already run a fund or equivalent who I would invest with if they had capacity and I could meet the minimums — @MidwestHedgie @NewRiverInvest @jam_croissant @mark_dow @SuperMugatu for example

4 replies 2 retweets 22 likes

macrocephalopod‏ @macrocephalopod 10 Mar 2021

Replying to @macrocephalopod @Bonecondor and

Obviously it would be conditional on them having a large % of their net worth invested alongside. Big problem is that if someone starts a fund they can’t continue to trade in the same way they do in their PA — larger size makes it more difficult to be nimble, and

1 reply 0 retweets 12 likes

macrocephalopod‏ @macrocephalopod 10 Mar 2021

Replying to @macrocephalopod @Bonecondor and

reporting request, compliance and fee structure induce people to be more conservative than they otherwise would be. Optimal fee structure is like 0%/20% but you can’t run a business like that! Expenses + 10% could be a good compromise.

2 replies 0 retweets 10 likes

Midwestern Hedgie‏ @MidwestHedgie 11 Mar 2021

Replying to @macrocephalopod @Bonecondor and

nah, 1.5 & 20 works good

1 reply 0 retweets 4 likes

macrocephalopod‏ @macrocephalopod 11 Mar 2021

Replying to @MidwestHedgie @Bonecondor and

What would you do differently if you had an expense pass through instead of mgmt fee, i.e. mgmt fee = expenses (rent, data, admin + legal, salaries, contractual payouts for sub-PMs) plus a performance fee that left your annual profit unchanged in expectation?

1 reply 0 retweets 3 likes

Midwestern Hedgie‏ @MidwestHedgie 11 Mar 2021

Replying to @macrocephalopod @Bonecondor and

1.5 basically covers everyone's base salaries and our expenses. i don't know about everyone, but the level of available mgmt fee is basically the ceiling to our hiring. when we had room there, we hired. are you offering a model where we get to charge you more when we hire more?

2 replies 0 retweets 5 likes

macrocephalopod‏ @macrocephalopod 11 Mar 2021

Replying to @MidwestHedgie @Bonecondor and

IMO this is the model that best aligns GP/LP interests -- allows you to hire or invest when you think there is a business case, disincentivizes asset gathering, allows you to have sub-PMs with a contractual payout w/o worrying about netting risk.

6:09 AM - 11 Mar 2021

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2 replies 0 retweets 1 like

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