Starting a hedge fund and making millions remains one of the most glamorized paths to fame and fortune in America.  It's the tried and true storyline in Hollywood hits from Wolf of Wall Street and The Big Short.

But who actually does this in real life, and how does one successfully thread that needle? 

I recently talked to Mitchell Ng, who is a rising star in Wall Street investment world at only 23-years-old. He only recently graduated Princeton University and is currently in medical school, but still has some good insight to offer.

Ng's Thessalus LLC fund is biotech focused, and Ng says it was among the highest performing funds in 2018. His three biggest investments last year, Kite Pharmaceuticals, Juno Therapeutics, and Ignyta were each acquired by multinational pharmaceutical giants and returned over 200%, per Ng.

How did he pull this off? Ng says it comes down to three big principles:

Do start with an idea; don't worry about capital:
Do the work:
Don't micromanage, trust people you rely on:

It sounds pretty straightforward, but is easier said than done. The vast majority of hedge funds fail, as the average investment fund has underperformed the market since 2001, according to the Hedge Fund Return Index (HFRI).

Thus, what this 20-something fund manager has achieved so far is undoubtedly significant, and his words of advice to entrepreneurs everywhere worth paying attention to.