Monday, June 11, 2007

Retire Young Retire Rich – Build a Hedge Fund Career

Chase Coleman – Hedge Fund Trader
Tiger Technology Management
Age 31 (2007)

As my blog is for young bankers and those who want to start an investment banking career, I am now going to start a series of success stories about those of 30 or even younger. Here is a young man who qualifies to retire young and retire rich. Chase Coleman made US$50 million at the age of 30.

Trader Daily has an annual poll of Top 100 Hedge Fund Traders. In 2005, Chase Coleman was the youngest on the list. Let’s compare his estimated income between 2006 and 2007.

June 2006

Chase Coleman

City: New York
Firm: Tiger Technology Management
Age: 30

CONSIDERED ONE of the top young hedge-fund traders today, Charles “Chase” Payson Coleman III is a descendant of Peter Stuyvesant, the last Dutch governor of New York — and the man who constructed the wall that gave Wall Street its name. Now that’s a pedigree. Coleman had a stellar year in 2005, with returns of more than 40 percent across his $2 billion– plus portfolio, including some significant bets on several small-cap stocks in China and Europe. Coleman also got married last year. His clients love him as well.

Estimated Income: $40 - $50 Million
Trader Daily

April 2007

You needed to have made $50 million in 2006 just to gain admission to this list. You needed $1 billion in annual comp to crack the Top 5. Behold capitalism’s ultimate honor roll — the fourth annual Trader Monthly 100.

Chase Coleman

City: New York
Firm: Tiger Global Management
Age: 31

One of the youngest members of the Trader Monthly 100, Coleman now manages roughly $2 billion in assets; his returns last year were in the neighborhood of 30 percent.

Estimated Income: $75-100 million
Trader Daily

Couple of posts ago, I mentioned that Dow Kim of Merrill Lynch quitted his US$37-million job to start his own hedge fund. Looking at Chase’s income, will you support Kim’s decision?

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Retire Young Retire Rich

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