Expert Raoul Pal Says “I’m 25% in Gold, 25% in Bitcoin, 25% in Cash, with the Rest for Trading.“
Raoul Pal knew he wanted to work in finance, but after graduating from a third tier University and applying at Goldman Sachs, he was swiftly rejected.
But in the company of those who were born with a chip on their shoulder, instead of throwing away the letter and moving on, he put it in a safe place and kept it for later.
“Later” came, when after earning himself a reputation in the budding hedge fund industry in the 1990’s at a series of smaller institutions, Goldman called him.
“Come work for us, and build our hedge fund business.”
“Lateral hires” as they were known in those days, were very rare. Executives at Goldman were always hired from within. After he joined the firm, his peers went out of their way to remind him of this. Whether he rubbed people the wrong way or not, Raoul built Goldman’s hedge fund business into the most profitable centre in the firm.
After departing Goldman, Raoul went on to co-manage the GLG Global Macro Fund in London – one of the largest hedge fund groups in the world. In 2004, at the age of 36, he retired from managing client money..