Running Money

My goal is no longer get more done, but rather to have less to do.
— Francine Jay
 Small Prop Shop vs. Big Hedge Fund:  Running lean or charging full-steam ahead?

Small Prop Shop vs. Big Hedge Fund: Running lean or charging full-steam ahead?

  Small is Beautiful : Key operational advantages of a  small  prop shop (compared to a  big  hedge fund or a  giant  index fund).

Small is Beautiful: Key operational advantages of a small prop shop (compared to a big hedge fund or a giant index fund).

  It's all relative:  “Full-spectrum investing” explores the design space for new investment vehicles (Image Credit:  Andrew Lo ).

It's all relative: “Full-spectrum investing” explores the design space for new investment vehicles (Image Credit: Andrew Lo).

What if a perpetual alpha fund can be organized and operated in such a way that it can deliver on the following 8 attributes: high Sharpe ratio, zero transparency, high liquidity, monitored risk exposures, few controls, just enough capacity, hyperactive turnover, and tiered fees, while preserving the key operational advantages enjoyed by a small prop shop? Don't you think this may be an interesting area of the design space to explore?

Things which matter most must never be at the mercy of things which matter least.
— Johann Wolfgang von Goethe (1749-1832)