BlackRock PMG Analyst to PM in 2 years...how?
I was just reading up about BlackRock's Obsidian fund and stumbled upon the PM's bio: http://www2.BlackRock.com/us/common/bios/stuart-spodek
This is the bit that shocked me: "Mr. Spodek earned a BS degree in engineering from Princeton University in 1993...Mr. Spodek joined BlackRock in 1993 as an analyst in BlackRock's portfolio management Group and became a portfolio manager in 1995."
How is this possible? Granted, this was in the golden days of the 90s but I struggle to comprehend how someone can possibly prove themselves capable in such a short period of time. Was it luck? Genius? Both? Anybody ever hear of something similar?
He's still there, so I'm assuming he's a genius.
Seems to be the only rational explanation haha. Any idea if similar stories exist at other companies?
and it was in 90s
anything was possible
You're assuming he didn't come in as an experienced analyst.
"Mr. Spodek earned a BS degree in engineering from Princeton University in 1993."
Also, he could have started with a very small portfolio. I'm wondering if I'm a good analyst and then just start a small fund and do well, if that's a better way to break into PM.
Obviously a track record is the fundamental requirement - do you mean starting your own small fund whilst working as an analyst or something else?
I saw it happen once at a firm similar to blackrock. ironically, it was another princeton grad that it happened to. it was actually 3 years and not 2, but he made pm. he actually turned it down b/c he wanted to go to bschool. idiot.
That's absurd. Do you by any chance have a name for the guy?
Sorry bro, not gonna be outing acquaintances any time soon. Wall st is a small street and your network isn't something you fuck around with.
That makes sense - I assumed you didn't know the guy! Ask him if he would be so kind as to teach people how to be such a genius?
It wasn't being a genius or anything. Guy was smart of course, but it was partly that he knew his stuff really well and played the office politics really well. He also had a good background. There's a lot of luck in the biz, and all businesses really, where timing and opportunity are huge factors.
'Portfolio manager' means different things at different places brothers. Even at the same place it can mean different things.
I'm pretty sure that at a place like BlackRock is can only mean one thing. The top guys don't throw that title around lightly
It's not abnormal for someone to be made "PM" for a small insignificant sector with a small AUM allocation after two years, while also working as an analyst under a more tenured PM.
"Portfolio manager" certainly does not only mean one thing. At BlackRock in particular they have less of a star culture than some other firms, like PIMCO for example. Portfolio manager is certainly something people on here aspire to being. And BlackRock is certainly a great shop. But not all portfolio managers are created equal.
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