According to Don Conrad, founder of CCM Partners LP, the prerequisites for a successful hedge fund is that it must be well-capitalized, complaint, patient with its strategy, and it must hire good people.
Anyone can do it, Conrad told Benzinga. A former factory worker without a bachelor's degree, Conrad attended night classes at Nassau Community college in Long Island.
He got his start in the financial services in the 1980s, selling a corporate bond income fund. He worked his way up at E.F. Hutton Company, which through a series of mergers eventually became Lehman Brothers.
With the market reeling after 9/11, he decided to start is own hedge fund with CCM.
Nathan Gilson of Benzinga writes:
"CCM Partners has beaten the market handsomely. From June of 2002, when Conrad launched the fund, to its tenth anniversary a few months ago, CCM Partners nearly doubled the S&P’s return with only 60% of the index’s volatility."
A true Horatio Alger story.
Check out the full piece at Benzinga>
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