Finance career site OneWire scored another great interview with one of the hedge fund world’s Tiger cubs — this time with Lee Ainslie, the rarely-interviewed head of Maverick Capital.
In the video, Ainslie breaks down his career path — from discovering his passion for investing back in junior high, to earning an engineering degree, to working for the legendary hedge fund, Tiger Management, to founding his own hedge fund at only 28 years old.
Of course, that was just the beginning. Now Ainslie faces a whole new set of challenges as the founder of his own firm. “At the end of the day,” he says, “we really only have two assets: the confidence of our investors and the talent of the team that we’re putting together.”
He continues, “It’s a challenging business in that people have many different opportunities, so you have to build a culture where people really want to be part of your team, want to be part of your collective success, and they feel they’re in an environment where they’re very likely to be successful.”
And that’s part of what makes working at Maverick different than working at other hedge funds — a team mentality. “We try to set up people in their own boat with the rest of their team,” Ainslie says. “One thing we do…that’s pretty unusual — we’ve never tracked an individual’s P&L…we want everybody on that team to recognise that they’re in this boat, and they’ll be judged by the success of how that team performs.”
This video follows just a few months after another OneWire interview conducted with Philippe Laffont, a Tiger cub who currently heads up Coatue Management. Both Ainslie and Laffont are alumni of Tiger Management (hence the term “Tiger cub”), run by hedge fund legend Julian Robertson, who helped to launch 38 hedge funds after closing his own fund. Robertson is considered a visionary in the hedge fund arena, and in a few weeks OneWire will release an interview with him.
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Check out Ainslie’s interview in full below: