You might be thinking I am sitting here talking about hedge funds when the economy is tanking, but I want to state something that I feel is my own opinion (my two cents) about the media and the talk on the American debt crisis and economy as a whole. I just feel that negative news sells. People are more likely to click on an article or keep watching a TV channel if they hear something gloomy and into the future.
Don’t focus on the 9% but on the 91% that are getting jobs and getting ahead. Check out this article right here which also talks about how Minnesota firms such as Whitebox Advisors, Waterstone Capital and Pine River Capital had been doing a lot of hiring in 2011. Here is a good link that you can make use of to familiarize yourself with the hedge fund industry in the region.
An article about White Box was featured in the New York Times which talked about their successful bet against subprime and the insight of their founder Andy Redleaf that provided a lot information about what goes on at a hedge fund.
The University of Minnesota’s School of Mathematics website has a comprehensive list of hedge funds along with investment management companies and other financial services firms in the Twin Cities. If you have read some of my articles previously on this blog talking about investment banking, you would be very familiar about this industry and in most cases the exit opportunity for an investment banking analyst is to go to work at a hedge fund and eventually become a fund manager.