That’s what my friend told me after I asked about his personal investments. I knew exactly what happened. We sat at the corner of the lobby at the Ritz Carlton Singapore. It was lunch time and I just came out of a major equities investment conference. As I put down my cup of black coffee, I was hearing about his recent experience: “Willie, I’ve made nothing but I’m still giving these fees to my bloody banker…” You see, I met my friend several years ago. He was a very successful venture capitalist and we regularly exchanged notes on investing. We caught up years later after a conference we were at. He said: “I go to China often to meet tech companies, have to hire people, and manage each deal personally.” My friend carries out transactions that’s worth millions of dollars. He knows the drill – due diligence, running his analyst team, working with legal, regulators and so on....