01 Dec Ted Seides (Ep.25): Money makes you more of what you already are
Let’s talk Hedge Funds! Ted Seides is a long time hedge fund investor and the host of the Capital Allocators Podcast. He’s a kindred spirit and we overlapped for a while during the go-go days of the hedge fund industry. While this industry has some of the smartest and hardest working individuals it’s got some perverse incentives, outright greed, and a breeding ground for the Three Es (Ego, Envy, Entitlement — all of which I experienced). The industry is undergoing tremendous change and we discuss sussing out internally motivated individuals, the keys to growing wealth, and how money makes you more… of what you already are.
Learn More About Ted
On being in an industry where success is being right 55% of the time
When you’re doing well, you’re not as smart as you think you are, and when you’re doing badly, you’re not as dumb as you think you are.
Money makes people “more of what they already are.” If you are a greedy person, you’re going to want more money. If you’re a kind person, you’’re going to become even kinder.
The key to wealth
It’s not how much money you make, it’s how much money you spend.
If you enjoyed this episode, check out
- Ashley Feinstein Gerstley on the mistakes smart people make with money
- Sam Polk on walking on a multi-million dollar bonus