Diameter Is Credit’s Hottest Hedge Fund For One Reason: Speed
Article out there on Diameter a couple of months ago on Diameter being one of the top-performing shops in High Yield / Stressed. I know they are on the smarter side and often make the right calls, but can anyone comment on their culture, comp, work, etc. Hearing mixed things that the culture and comp are bad (toxic, sweatshop, etc), but hear from others that's not the case?
Bump. Curious what it’s like specifically at the junior levels
I understand the relationship between the two founders and their yin/yang between trading and research, but this strikes me as an extremely trading oriented firm. Are analysts treated as cost centers? Is it the job of an analyst to have a view on how to trade their names given each incremental data point, or are the analysts just expected to be an encyclopedia on their coverage passing info to the traders who determine how best to trade?
I have heard the same, its a trading driven shop as opposed to a research-centric shop
Is that the way the credit industry is going?
Have a friend who’s worked there for a while. The PM’s make the decisions, not the traders with the exception of some things in investment grade. As a junior my friend worked on everything from IG new issue to distressed process that was a multi year investment. He has been well paid and have heard generally they pay well and expect hard work.
What does "work hard" mean in the context of Diameter given comments re culture, etc?
He’s generally working 8am to 6pm-8pm depending on the day m-f. During Covid March/April ‘20 I know they were having credit reviews on weekends.
What does well paid mean in this context?
Take this as you will: I've never spoken to any analysts but I've heard both the founders speak in a non-interview context. They said "this is a very very hard place to work" and that "you need to have thick skin because [other cofounder] is very direct".
I know it was you, Scott and Jonathan, that threw MS!!
I guess that's what you get when you're at a top credit shop that's relatively young.
I'd imagine they only recruit from T10 undergrads and M7 MBA?
Are they recruiting now/all year round as people leave and spots open up?
They do on cycle associate recruiting which I would assume is happening now and would think they are hiring for new London office that was in the press. There hasn’t been much turnover the past few years so it’s expansion hiring (CLO/Europe/Associate).
lol, "won a fantasy baseball contest at 10"
Haha yes that was cringe...
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