I get e-mails from those that want to invest with me, and those that want to work for me. My, but I am humbled. I never thought that this blog might produce a business; I only started it to give back to the general public.
But as I get more of a response, I begin to think, “Okay, what if I succeed? What would I do?”
Here is my short outline: At AUM of $10 million, I am viable.
At AUM of $20 million, I would do the following:
- Hire an assistant
- Get a Bloomberg terminal.
- Hire a permanent legal counsel.
- Plan on starting a bond fund.
- Engage those that invest in emerging managers.
- Pay to get a failed mutual fund to hand the fund management contract over to me. After that, my investors could have tax benefits for a time, and I would reduce fees to reasonable levels.
At AUM of $50 million, I would do the following:
- Hire someone who could replace me if I died. There are a number of people offering this to me now, and they aren’t low-quality. But I am not there yet; I look forward to getting there.
- Get office space near where I live.
- Consider inviting “dirty money” to invest with me from the wirehouses.
- Submit my performance to databases.
Beyond that, I am not sure… if I get that far, there may be other opportunities that I have no concept of now. I know that I will outsource more the larger that I get. That said, I think that I may have the acumen to take advantage of the situation.