On why having your own hedge fund is a good career choice

“If you take big, even reckless, bets and win, you have a great year and you get a great bonus—or in the case of hedge funds, 20% of the profits. If you lose money the following year, you lose your investors’ money rather than your own—and you don’t have to give back last year’s bonus. Heads, you win; tails, you lose someone else’s money.”

(Chaos on Wall Street, explained)

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