I think what he said is perfectly believable.
4th year quit = relax, sick of working in those big4 firms. This is in aussie btw.
7th year, in SG as CEO of a small hedge fund/investment house, 400k+ not incl bonuses and commissions.
He still rents a very nicely renovated HDB with his wife. No condo, no car - he said he doesnt need it in sg.
oh, really now! hedge funds huh! and you said a small hedge fund?
how small is the NAV, say 20M?
remember that hedge funds earned only from the NAV of the fund, the management fee, of which the normal going rate is 2% p.a.
so this is the only income of the Fund, ofcourse, other than the performance fee, which is solely base on the increase in NAV, of which part of the bonus.
as you were saying that his 400k per annum is just his basic, you may think twice in saying that his salary is 400k p.a., is he running the hedge fund on his own? nothing else to pay? just his salary???
and a 7 year experience guy running a hedge funds??? who the hell will invest into such??? oh well, you said it, i dont think il believe it.
and yeah, CEO term is not common for hedge funds, they are called Directors, and the highest ranking guy is the managing director. and another thing, hedge funds Director discusses their YEARS of experience in their PPM, I dont think a 7 year guy is capable to be placed as a managing Director, if this is the case, i dont think their NAV will even be more than a million dollar, for i dont think qualified investors will trust their money with an inexperienced director.
review your facts again, i might believe you in your second try.
I graduated when i was 25 from SMU.
First job paid me 60k pa. Hopped and second job paid me 90k pa. Hopped and third job paid me 120k pa. Hopped and 4th job paid me 180k pa.
Now my fifth job pays me about 250k pa.
And I'm only 27 now. Headhunter just called me and a foreign bank is asking me to lead their team with a 450k pa package.
Are you in FO or MO?
Currently 37 and have been working since 24.
Currently have cash $1m, stocks $50k, 1st property ~$2.5M (loan $1.6M), 2nd property ~$2M (loan $1M).
btw, before you attack my grammar, i speak 6 languages inc french and german, paid tax in 4 countries, and can write a legal contract in half the time u do and three times better. just trying to be friendly and speak local talk talk..
anyway, just saying age 20s, 30s people, if it is money you want, you can find big bucks..or you can demand big bucks...if you are good.
but money is not everything...i give charity a lot, 4, 5 figures, have a lovely girl and home life, cook great food, go to movies, take the mrt, eat at kfc etc. do what you do and generally try help the world. i find sg people very into dollar...i think you have truly found life when u realise good life is not just about $$$, but happiness. i am very happy...not bcos i am comfy with my dollar, but bcos i feel i have achieved something and still achieving.
i have skills, which helps...i can make 5k a day playing poker ripping off noobie chinese tourists, so sometimes i do wonder why i am working...but bcos it keeps me busy and my brain active...and we all need a 'normal' job...wear a suit tie etc.
yes luck does have a part to play...people who joined goldmans etc, got paid out 700k one year, i mean 22 yr old grad, common, what the hell do they know about biz? but you got to look at what they did to get there.
i got lucky age 26...walked into US dotcom boom...didn't do anything much, but got paid 250k and thats USD. think omg, but then the guy next door age 29 prob got 500k. my luckiest break...i bought a website for 100 bucks, age 21 and sold it to NY brandname for 50k a year later...wrote all my own contract, hire own escrow, couldve got 100k really.... 12:16pm do you have this skill n foresight?
I started this thread to compare networth and if you are generous enough to share how you achieve it, that will be better. Try not to add your own opinions in your post, and try not to sound too braggy, because the purpose of this thread is not to showoff. What works for you does not mean it will work for others.
There is no way to tell if the poster is genuine in his words, but then again, so are words from people you know in real life. I will just take it with a pinch of salt. After all, anything is possible in this world.
To those who posted false info here, get out of my thread, you are not welcome here. Use your time to make some real money, instead of bragging in this forum about your false wealth.
How about you start the ball rolling on the boldfaced part.