As some of you may know, in the post-crisis world, raising capital can be a tricky business, even for hedge funds with impeccable track records. Even more difficult? Getting people to sign on to fund of funds, whose due diligence processes were called into question following the Madoff scandal. Fortunately, there's still one guy who knows how to get the job done. His name? Anthony Scaramucci AKA The Mooch, who is the topic of a Bloomberg Markets Magazine profile next month. If you want to raise some real money, whether you're running a FoF or just need some cash for the weekend, we suggest following his system. A fool-proof system for getting any investors you want to open up their wallets for life. What are we talking about? M.O.O.C.H. It's a comprehensive approach for the seduction of potential investors that Scaramucci's been developing for years. And now, he's sharing it with you.
M - Market Aggressively
Anthony Scaramucci fist bumps investors as he makes his way through a poolside party at the Bellagio Hotel in Las Vegas on a May evening. “It’s the Mooch!” someone shouts. Scaramucci, a Harvard Law School graduate who flunked the New York bar exam twice and was fired from Goldman Sachs Group Inc. (GS) in 1991, is exactly where he wants to be: playing host to the hedge-fund industry as it surges past $2 trillion in global assets...At the poolside gala capping the opening day, young women in cocktail dresses play air hockey. Across the patio, men smoke freshly rolled Dominican cigars. Jugglers, mimes and an Italian clown riding a unicycle weave their way between revelers sipping drinks and feasting on roasted pork. “I want to be the Peter Lynch of the hedge-fund industry,” Scaramucci says, referring to the Fidelity Investments money manager and TV spokesman who helped popularize mutual-fund investing in the 1980s and 1990s. “I want to make hedge-fund investing approachable to the average American investor.”
O- Offer Favors
He peppers his conversation with offers to perform favors , asking: “What do you need?”
O- Obtain Trust
“I would make him the trustee for my estate not because he’s a brilliant investor but because he would do the right thing for my family, says Robert Matza, a former president of Neuberger Berman and now president of GoldenTree Asset Management LP, a New York hedge fund. “I trust him.”
C- Connect Physically
...he's fond of slipping his arm around your shoulder and giving it a squeeze to make a point.
H- Humor Hebrews
Scaramucci possesses the trader’s love of profanity and off-color jokes. He regaled a group of money managers at SALT with a story of how he spoke with a roomful of wealthy Jewish investors in Palm Beach, Florida, in early 2009 after many of them had lost their fortunes to Madoff. “So I told them: Always invest with an Italian. They like cash businesses, and an Italian will only steal as much as he can fit in the trunk of his car in cash,” he said. The money managers crack up as their host flashes a wide smile.
Fired by Goldman Scaramucci Now Schmoozes [Bloomberg Markets Magazine]