Blew up, not sure what to do now
As the portfolio manager for one of the largest multi-manager hedge funds on Wall Street, I had always prided myself on my ability to consistently deliver strong returns for my investors. But recently, I made the mistake of going long on Peloton, the fitness company, thinking that its growth potential was virtually limitless.
But I was wrong. As the COVID-19 pandemic hit, Peloton's stock price plummeted, and my losses mounted. My superiors at the hedge fund became increasingly concerned and called me into a meeting to discuss the situation. I, feeling the pressure, blew up at them, yelling and cursing as I defended my decision to go long on Peloton.
But my outburst was my undoing. The next day, I was fired from the hedge fund. Humiliated and angry, I spiraled into a depression. I lost all of my money and my relationships suffered as I pushed away the people who cared about me.
I hit rock bottom. I was alone and destitute, with no idea how to pick up the pieces of my shattered life. I felt like a failure, and I didn't know if I would ever be able to recover.
I'm not sure what the future holds for me, but right now, I'm pleading for help. I don't know how to start over, but I'm determined to try. I just hope that someone out there will be willing to give me a second chance.
I wouldn't worry about it--hedge funds blow up right before they're about to hit it big
Hey man. Take some time off. These things happen and we learn from it. Right now you should get some professional help and clear your mind. Everyone has seen people come back into the game over and over.
I would say work very hard on rebuilding your social/emotional relationships.
The professional part is the easiest one - many people blow up and later come back. It sucks not to have that beautiful straight line to success. Sometimes (most) people hit the wall and have to rebuild. You will have many opportunities to join at least smaller funds if you network your way. You just have to show you've learned the lesson. Go to headhunters and cold approach funds - I am sure many will be willing to have a chat. Of course, the current market sucks and most funds are on hiring freezes... It can prob take a year or so - but don't put your head down. It's def possible.
Ok, you have my sympathy. That sounds rough.
Life is harsh. You should've cut the losses and let the profits run. Good thing you didn't blown whole fund on this. This is just your first big loss, move on.
For some reason in this business, management likes risk takers and guys who have blown up are attractive cause they are “risk takers”. As long as you can speak to process and how you select and more importantly manage investments/the portfolio you will be fine especially coming from a MM. walk across the street and talk to MLP ha. More importantly go clear your mind and decompress. If you have any kind of non compete, travel. Recently one of the PMs I work with came out about how he has been seeing a trading psych through tough times and it’s helped him. It’s not spoken about but the older I get I realize you need to take care of your body and mind if you want any kind of longevity in this career. Cheers.
Yeah this seems a little fake
This reads like the back summary of a bad finance-fiction book.
Also the PT stock price does not track with what he's saying unless OP believes the pandemic hit like in like early 2021. 1 year after it actually hit...
It sounds like ChatGPT
This is actually spot on. Didn't even realize until you mentioned it but it's 100% ChatGPT
H
Why would you pick Peleton for your fake story, as the stock did the precise opposite of what you describe?
Lol at believing in an unlimited peloton growth story.
Would have been more believable if you had said SM instead of MM
Lol this is definitely ChatGPT
arigato mr roboto
Bruh, why would anyone think Peloton is the future of exercise? Why do you think most gym memberships are between $10 - $20? Nobody wants to pay 2k for an elliptical that has a touch screen. The only way Peloton would work is if all the gyms and exercise machine companies went bankrupt while everybody's networth grew 5x. Also, I guarantee that most the commercial gyms can't afford to upgrade ALL of their cardio machines to Pelotons. That would be so costly to these gyms that are already doing well for themselves. Can I hear why you thought there was value?
He got the investment thesis from the suburban mom next door.
Aswath Damodaran was using Peloton as model of a young company in many of his valuation or VC courses. So I assume that other qualified people were also preaching it. But that only explains some of the hype out there before the stock plunged, it doesn't justify the lack of proper (i.e. above average) due diligence by OP considering he is in a well-reputable firm.
Come on Ram. RIP Octahedron
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