Are you getting paid?

VP is going public. Not that we are interested in investing in VP..why would we invest in our competitor anyway...we were eager to find out the profitability of the company and the PMs' remuneration scheme, and we kept shaking our heads when comparing theirs to our shitty pay.

Why would people want to invest in hedge fund in a bull market when you can easily make 100% this year by selecting the key China names?! Not only you are paying the management fee but also a 15% cut of your profits... this doesn't sound like a good deal particularly when VP has actually been underperforming vs. its peers... looking at the profitability, 3.0% net margin to AUM vs. ~0.1% for long-only...is not like our performance is worse than them..

From the listing the senior PM each is getting 400+mn HKD worth of stocks..And you know how much bonus they received last year? Our back of the envelope calculation tells us on average the PMs got 8yrs bonus..8 YRS! bloody hell..no wonder the property prices shoot up sharply, the BV bags are out of stock, ferrari cruising in central, no steep discounts anymore.. all of a sudden my financial status soo far lags behind.. I feel so poor...

My colleague told me that he was once given an opportunity to join VP a couple of years ago, if he did do so, he would have 4mn HKD worth of stock by now..he claimed he rejected the offer because he loves working with us... I know that's just an excuse to console his sorrow..but a sweet lie is always nice to hear..