fund

“Although I think it's much harder for people to launch funds today than it was, you know, in the salad days.”

“So if you look at funds, don't look at the time weighted return, which is the NAV, the per share NAV over time. Look at the capital weighted returns, because so many of the big funds, the brand name funds, they did really well with small amounts of money, and …”

“The more complex a strategy, the more moving pieces it has, the harder it is to set expectations. So, precisely the funds that we think are positioned, To do the best for us during complex times are probably the ones best positioned to disappoint us.”

“One thing we do at our firm that's probably different than a lot of other firms is we still use about 10% of the fund towards things we're building ourselves”

“Is it appropriate that you're charging fees on the fund, and you're also charging a fee for putting trades into the fund? Well, no. That's an easy standard to say, no, you're getting paid to run the fund. You shouldn't double dip.”

“Because in venture, it's missing the upside, not protecting the downside that's going to lead to not have a successful fund. The most important thing is being in those right companies and owning enough of them.”

“We just raised a four and a half billion dollar new fund.”

“General partners will do different deals at the beginning of their fund than they will do at the end of their fund, and how does that work for you? If it's at the end of their fund and they want a very low risk, but lower return deal, they're looking for more …”

“And by the way, in 2005, six, seven, eight, funds contracted by 50% when they went to raise their next fund.”

“We're agnostic to size of the fund, and sometimes that creates a queue at the window to get them, and sometimes that creates clients not having the best experience because they didn't get it, or they got a much smaller amount that they originally wanted alloca…”

“If you have a 35% position in one stock, and then your second position is three or five percent, you're not a fund, you're a stock.”