Analyst / PM Divide & Trade Book
Hi all,
Wasn’t sure what to title this but have a few questions on the HF and PM front.
- I often read about PMs saying two different ideas are effectively “the same trade”. Are there any good examples of this in context of single asset equities or credit? I can see what sector based concentration with same structural triggers can mean but which other angles are there? Perhaps same macro catalyst which pervades two or more seemingly different trades?
- Trade sizing: how do fundamental PMs construct their books and sizes? Is it factor based segregation or something else? Are they looking at correlations / co-variance on ex-ante (and ex-post) bases?
