MINI-TERM CAREER TALKBrian Thonn, Kingdom Ridge Capital, LLC

WHAT COMES TO MIND WHEN YOU THINK OF A HEDGE FUND?

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WHAT DOES MY HEDGE FUND DO?We try to be the smartest people in the room when it comes to technology stocks

We use this knowledge to take stock positions that we think will make our clients money over the long term no matter what happens in the market

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

LET’S ALL GET ON THE SAME PAGE• Basic concept & terminology overview

• What is a stock?• What causes stock prices to change?• What does it mean to be long a stock?• What does it mean to be short a stock?• What is a mutual fund?• What is a long/short hedge fund?• What is difference between a mutual fund and a long/short hedge fund?

SO, WHAT DO I DO?Help run a long/short hedge portfolio

• Make clients money from being long and short stocks• Use combination of longs and shorts to “hedge” risk

Oversee a team of research analystsManage investor relationsHandle marketing for Kingdom RidgeCover some technology companiesAttend technology conferences (E3, etc.)Meet with company CEOs and CFOs

WHAT IS GREAT ABOUT MY JOB• Technology sector is exciting• I am always learning• Every day is different• Sense of accomplishment from starting a business• I chose my colleagues, so I get along with all of them• No office politics• I am able to use knowledge accumulated from my previous jobs to help my firm• Love the competitive nature of managing money and picking stocks – I can always tell if I’m winning or losing

HOW DID I GET HERE?Do not be surprised if your life doesn’t follow your initial plan

College #1: Rose-Hulman Institute of Technology – Terre Haute, IN College #2: Indiana University – Bloomington, IN Job #1: 5/3 Bank – Cincinnati, OH Job #2: Procter & Gamble – Cincinnati, OH & Baltimore, MD Grad School: MBA from Dartmouth – Hanover, NH Job #3: Boston Consulting Group (BCG) – Boston, MA Job #4: SAC Capital – Stamford, CT Job #5: Kingdom Ridge Capital – White Plains, NY

MINI-TERM CAREER TALKBrian Thonn, Kingdom Ridge Capital, LLC