Tom Hardin
👤 SpeakerAppearances Over Time
Podcast Appearances
I've gone from being an analyst to actually being a partner, so having a piece
of the equity.
I also become aware that illegal insider trading is going on.
I get a phone call.
Pronos was going to be acquired.
Here's the date.
Here's the price.
Here's the private equity firm.
She's like, oh, I'm going to make millions on this.
Could you just take care of him?
Could you write him a check for $10,000?
And he's sliding me the FedEx envelope with cash over.
So July 2008, I'm dropping off my dry cleaning.
This guy on the sidewalk in Manhattan says, are you Tom?
I turn around.
We think you can help us out.
So a hedge fund, what we did was we traded stocks.
And hedge funds charge usually a 1% to 2% management fee on the assets that you manage to cover the overhead expenses, salaries, and costs.
And the hedge funds also get to keep 20% of profits.
So if you're up $50 million that year, you get to keep $10 million and divide that as bonuses.