Best Investing Seats Right Now

This is a really stupid post, but curiosity can be stupid at times. Nonetheless, always cool to know who’s crushing it.

Best SM/MM seats right now in terms of job stability + economics? Can be crossover, activist, equities, or just venture/growth at this point. Or is it just a family office of Ellison/Gates/Bezos?

18 Comments
 

it really has flip flopped quite a bit since forever; i generally subscribe to the model that pools of alpha are finite. the best seats are the ones with the least competiton relative to the size of the alpha being harvested. how do you quantify this? who fucking knows…what seems to be a pattern is that if you’re in your prime risk-taking years you want to be chasing the hottest thing and if you’re a junior you probably want to be thinking more counter-cyclically

 

This has been discussed before countless of times. MM seats are rough because of how easy it is to lose the seat in the first place. Not great risk/reward. SMs can potentially be great places but it’s really political and really hard to get a seat in some of these places precisely because turnover is low. My view will always be the l/s franchise in a multi strategy fund is the best seat. Massive institutional longevity so you can actually invest appropriately and you don’t get fired the way you do at an MM. Trade off is probably comp since these places are less lean. Something like a Farallon 

 

There’s about a million posts on twitter every month with a scoreboard for return… regardless these seats rarely come up unless mm

 

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