Do you think a guy can manage a billion $ portfolio by himself?
I’m asking strictly in regards to conducting research and trading. Assuming other functions such as administration, compliance, marketing etc. are outsourced.
Thanks!
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yes, if it's a LO concentrated strategy w/ a 5+yr time horizon
Sorry, what’s LO?
Long only
1st year analyst at HF that doesn't know what LO is???
Exactly. Just throw it all into the S&P and don’t touch it for 5 years. Odds are the guy wouldn’t be able to beat it anyway!
Sadly, this.
Yes easily as long as it’s a relatively concentrated portfolio.
I know a few family offices that do this and just make the bets pretty concentrated. It's a lot of long-only combined with allocating to private equity and venture capital managers.
LOL for sure. Realistically, if you were one guy and you handed a billion dollar portfolio for yourself, just throw it into an index and you'd easily beat conducting research and trading. Emphasis - one guy. One person with a billion dollar portfolio (mighty illiquid there) ain't gonna beat out thousands of analysts and PMs out there swinging in the jungle with their economies of scale alone. Structural alpha is a thing - most alpha generated by institutions is probs more of structural alpha rather than skill alpha. Just throw it into the index and you have it managed (altho this probs doesn't answer the question)
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