Ben Tan 笨蛋

"Once you're off the track, you're done." — a fund manager with an 18-year track record on what nobody tells you about a career in money management: Derek Pilecki (@gatorcapital) runs a financials-focused fund, 21%+ annualized, entire net worth in his own fund. Derek explains: "It's harder for small funds. A lot of the seats are quant based versus fundamental based. It's a more difficult industry." "You have to love investing. You have to want to wake up and read the Wall Street Journal as soon as you wake up." "If you lose your job anytime after the age of 32, it's hard to get another job. The business doesn't hire mid-career analysts." "There's a lot of people who get into the business and then in their thirties or forties have to go find another career." "There are things that people don't talk about. I've had a lot of friends who lost their job in their late thirties or forties and weren't able to find a new seat." "While the rewards can be great on the upside, it can really mess with you mid-career, midlife."