After tampering with options and securities, Jes Santaularia turned his part-time hobby into a solidly performing, $4 million hedge fund, Parrot Trading Partners, Kansas City Business Journal reports.
"I decided if I was successful with my own money and a few others', then I might as well form a pool and see if the world wanted to trade alongside me," Santaularia said.
And the world did. Since the fund began operating in April 2004, its total assets have gone from $500,000 to $4 million today, including $1 million from an institutional investor.
Year-to-date through Nov. 21, the hedge fund has generated returns of 10.77%, compared to a mere 1.05% for the S&P 500.
"It's not for the faint of heart because it swings from 5% to 6% a month," said Tom Flannigan, a Parrot investor and seasoned portfolio owner. "It's a long-term investment." Flanningan saw his investment of $200,000 increase by about 20% since he invested it in April 2004.
