Richard Chilton, CEO of hedge fund Chilton Investments, has been on Wall Street since Morgan Stanley’s book value was a tiny $US30 million (in 1978).
That means he’s seen and learned a lot. In an interview with Skiddy von Stade, CEO of financial career site OneWire, and shared some of his stories.
Chilton began his career in the investment business at Merrill Lynch. From there, he moved to the money management side at Alliance Capital and subsequently Allen & Co., which was really just getting going.
“The money management business was very nascent,” Chilton explains, “It was just really starting, as the talent drain came from the big banks and the trust companies into forming independent money managers.”
So how was Chilton introduced to hedge funds? His best friend, Robert Williamson, happened to be the nephew of Julian Robertson, the godfather of all things hedge fund.
“I remember [Julian] calling me up and saying, which [companies] do you think are going to go broke? Because we’re going to short those…And I said…what’s shorting?”
Years later he started his own classic “A.W. Jones style” long/short hedge fund, and the rest is Wall Street history.
Watch Chilton’s full interview below to learn more about developments he witnessed on Wall Street and how he founded his own hedge fund, and stay tuned for Part II in the coming days. To watch the whole interview series, visit OneWire’s YouTube channel.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.