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#1 I had not misunderstood. With the capital markets in full-blown crisis mode, the firm had lost half its money in just a few months. The organization had started in 1991 while the hedge fund industry itself was very new, and debated whether to be an advisory firm or a hedge fund.
#2 The problem with hedge funds is that they are an unstable business model. It is difficult to argue that the man ran out of luck three times in a row.
#3 I was ecstatic about my new employment. I wanted to be judged on what I said and have what I did stand on its own. I wanted to make a difference.
#4 The walk-and-talk is a miserable routine that bankers use to calm down their rage and explain and apologize for the delays they cause their clients.
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