Brad Gerstner: commitment

Transcript context

…And you also had about $3 million if my research is right. Yeah. I think on my day one investors—not to out them—Paul was one of them. My brother was one of them. My oldest brother is about 15 years older than me. The side note is, he's an architect. He had saved his entire life a million dollars. He worked I don't know how many years, 15 years to save a million dollars or something. He invested it all in a hedge fund. I don't know why I laugh. He put it in a hedge fund in LA and the guy stole all $200 million of this money. My brother literally worked 15 years and his life savings went down the drain. He scrambled together another half million dollars and he said, I'm giving it to you to invest. I was like, I don't know if I can take this. I remember we're on a hike in LA and he said, I know you're going to do great with it. And I said, well, here's the thing I promise you, I may lose it all naturally, but I won't steal it. I can happily say less than a decade later, he was retired and it had worked out fabulous for him. What is it with your family and risk? You've essentially gone bankrupt, not you but your dad, your brother.…

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