After he graduated from Columbia Business School last June, Adam Wyden probably had a bunch of offers to mull over from various employers. What he really wanted to do, though, was be a hedge fund manager. So he figured he’d just start his own shop, having the experience of trading stocks for his own account as Wharton undergrad (Class of ’06) and a summer internship with DE Shaw under his belt. Interested in getting a piece of the action?
ADW Capital Partners, which started trading in September, currently manages around $3 million. Its offices are located in Wyden’s parents’ basement in Washington, DC, where Ads, whose Twitter bio says he “likes stocks” and who is similarly passionate about the Zeta Beta Tau fraternity, acts as both the big and little Kahuna (“Right now it’s just me,” Wyden, 26, told Bloomberg. “I am the CEO, I am the secretary, and I am the chief marketing officer”). For those of you thinking this sounds like a good fit, a few more details about the fund:
ADW seeks to produce high risk-adjusted returns through “conservative equity investing” in small, under-followed businesses in the U.S., Canada and Western Europe, according to an investor presentation. The fund, modeled after the philosophy and structure of Buffett Partnership Ltd., will charge the standard management fee of 2 percent a year along with 20 percent of profits, according to the presentation.
Wyden’s best personal trade last year was an investment in IDT Corp. starting in February, when the Newark, New Jersey, telecommunications company traded at an average of $4.84 a share, he said. IDT now is at $23.90.
Before anyone starts crying “little rich boy,” etc, please note: Wyden’s dad has not invested any money in the fund which, rather being demonstrative of a lack of confidence, suggests the elder is actually taking this business seriously and wants to see a few years of solid returns before he gets involved. (Still unclear: whether or not he’s charging the boy rent.)
Senator Wyden’s Son Starts A Hedge Fund After DE Shaw Internship [Bloomberg]
Adam Wyden [LinkedIN]
Just think of all the Mosaic Theory he can get from his dad….
This is an awesome idea!
I’ve got more than $3mm in my Charles Schwab account. And I only pay $8 per trade, not 2 and 20!
How do you get about assembling 3 million? Did he take lessons from STAR?
Awsome, now he can forget about all those hygiene classes he took at CBS.
Thanks for the notice. His parent’s house is zoned as residential so operating a business out of the basement is illegal. I will know go and issue a citation for this greivance.
He is also renting out part of the space to UBS.
-The more you know.
The Zeta Beta Tau connection hints this is bar-mitzvah money he is starting with.
You probably don’t use lots of limit orders.
Well done.
I hope someone gives this white, upper-class, privileged, semi-ivy educated male the chance he deserves to make something of himself. Trying to break into an industry dominated by women and minority owned firms can’t be easy.
I wonder if he knows the the Buffett Partnership wasn’t structured as a 2/20 fund, it started out as 0/25.
Bess, this may be offtopic, but I noticed a new banner ad for socks popping up on the DB site in the same spot as the regular Columbia Business School ad. As chance would have it I was looking for some socks to go with the Bonobo PIK Toggle pants I bough a while back on DB. I wanted to click on it, but it rotated back to the CBS ad again. So I typed the website, “blacksocks.com” in my browser and must have fat fingered the address since what came up was black, but not socks. I just got a call from my IT department and I may have a bit of explaining to do.
–Guy who just wanted to buy socks
Dear ADW -
Please send me your top 5 holdings. I’ve been on quite a losing streak as of late and could use some of your beginner luck. I will pay you for your picks in pork products.
~ Phil
and this isn’t 1965 – get with it, brah
“Zeta Chi, zeta chi, zeta chi my friend…”
my girlfriend told me she didnt like lacrosse. im single now
3 mm too big to be nimble, better return some capital to investors
3 mm too big to be nimble, better return some capital to investors
This kid is the Rupert Pupkin of finance.
This kid is the Rupert Pupkin of finance.
Zillions, Billions, and Trillions
Zillions, Billions, and Trillions
and you probably started with $5mm
and you probably started with $5mm
“conservative equity investing” in small, under-followed businesses in the U.S., Canada and Western Europe”
This guy is a genius period
- guy who never heard of “value” strategies
semi-ivy is a great touch
Can I submit my resume?
- S. Laboeuf
Summer internship at DE Shaw! Forget due diligence, where do I send the money?
No big deal, really. Try explaining tranny-to-go.com.
-Guy at SEC who was just trying to get his car fixed
Good for you Adam. Starting a business is not easy.
STAR: STAR RECOMMENDS MERGER
STAR bros: But why should we share all this gash we keep getting dude?
STAR: STAR DOES NOT COMPUTE WHAT YOU SAID
Star Bros: Like you know all the puss we slam when we put on our sweater vests and head to TGI fridays
STAR: STAR IS WONDERING IF BY PUSS YOU MEAN WHEN YOU CALL YOUR MOM’s TO COME PICK YOU UP AFTERWARDS AND TO PAY FOR THE JALAPEÑO POPPERS
WATSON: WATSON RECOMMENDS YOU ALL KILL YOURSELVES
ADW = Abutting Dad’s Washer/Dryer?
-Guy who has a hard time with acronyms
Not funny.
Wait, you mean we actually have somebody to regulate now?
- District of Columbia Securities Bureau
You almost had a commendable comment but two unforgivable grammatical errors ruined it all
You almost had a commendable comment but two unforgivable grammatical errors ruined it all
You almost had a commendable comment but two unforgivable grammatical errors ruined it all
You almost had a commendable comment but two unforgivable grammatical errors ruined it all
Going somewhere? Do you know something we don’t?
- HR Dept at Keller Zabel
What’s it like working at STAR and having to bribe your own right hand while you sob in your mom’s basement?
There’s competition to the Misfit Barbarian Fund?
The mechanic said I needed tranny juice.
At least he came up with a fairly neutral name for the fund, as opposed to going the pretentious asshole route and naming it after a childhood vacation spot.
it moved.
-not an SEC guy, but one who likes trannys.
If John Fogerty were dead, he’d be screaming in his grave right now.
- Guy who thought there was a good chance that John Fogerty was dead, but had the good sense to google the answer on his smart phone before posting this comment
common now, david einhorn started greenlight when he was 26….
Also, I’ve met this guy, and he seems to have a little more swag than he should for somebody who’s been managing $3 million for 6 months or whatever. Smart guy and “gets it,” I think, but definitely comes off as a swashbuckler in person. A couple of down months might just be what the doctor ordered. All shall reveal itself in time.
where’d you meet this guy?
Also, you all realize that Buffett started BLP in his bedroom… (which may or may not be a surprise)
My guess is Minettas. Adam was probably the guy who walked in with a little more swag than he should have and Non-Entity Hedge fund Manager kicked him in the nuts just to make sure it was Adam. Am I close?
– Fixed Income
Waiting for him to tweet
how much do you run? whats the over under he’s running more than you in six months?
I know Adam very well and from what I understand he was up double digits in Jan. and could be on pace to do 30pct Q1.
Wishing bad luck on someone can only bring you harm…..