Presentation made by Kingdom Ridge Capital co-founder Brian Thonn to a high school class of juniors and seniors as part of a career discussion segment of their annual mini-term (held in Spring 2016). Presentation gave a high level introduction to what long/short hedge funds do, what is commonly thought when one thinks of hedge funds, etc.

1. MINI-TERM CAREER TALK
Brian Thonn, Kingdom Ridge Capital, LLC

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

3. MORE ACCURATE IMAGES

4. 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

5. 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?

6. 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?

7. 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?

8. 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?

9. 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?

10. 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?

11. 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?

12. 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?

13. 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 analysts
Manage investor relations
Handle marketing for Kingdom Ridge
Cover some technology companies
Attend technology conferences (E3, etc.)
Meet with company CEOs and CFOs

14. 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

15. 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

17. MINI-TERM CAREER TALK
Brian Thonn, Kingdom Ridge Capital, LLC