Griffin says hedge fund talent is there to snag

A week after billionaire Steve Cohen said he was "blown away" by the scarcity of talented people in the hedge fund industry, investor Ken Griffin said they exist but you need to hire them from other people's firms, reports BloombergNews.

"Every new generation of managers has this great story about how it's never been so difficult to find talent," Griffin, who runs hedge fund Citadel, said at the SkyBridge Alternatives Conference in Las Vegas. "The best talent is talent you go out and find. You need to avoid adverse selection," he added. "The talent you want to hire is the talent you want to pull from someone else."

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Five pieces of advice for startups

In an interview with Forbes, Ted Seides, who wrote the book, "So You Want to Start a Hedge Fund," gave five pieces of advice for startups:

1) Play to win 2) Be as thoughtful about the business as you are about managing money 3) Clearly define roles in the organization 4) Be ready to sleep in the bed you make 5) Play for the long-term.

Watch our exclusive video interview wit Ted Seides here: ......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.