Hi guys,
I'm an analyst at a single PM fund and recently ran into major disagreements regarding portfolio positions with the GP/PM regarding how the individual positions will react to certain events. If my recommendation were to have been taken as opposed to completely exiting, it would have saved about 2-3% or so of returns, as the positions all rallied back in the weeks to follow. Another time I felt psychologically pressured to change my recommendation to suit his view of the stock, which again turned out to be the wrong choice again. I am pissed and unaware of how this PM runs his book. I've been at this fund for 3 months but I've collaborated with his fund on several ideas since 2014 and was unware of these tendencies. Has anyone been in a similar situation and what's the recommended action?
During the quarterly reviews, I'll have to go through each trade one by one but to be honest, but this overhang is affecting my work productivity. Every time I see the original positions and investment thesis playing out, it just kills my mood. Thans again, looking forward to inputs.
ask for a sub book in the fund...to track not just your ideas...but your trading execution as well. If you perform better than the PM, then ask the PM to help get you seeded for your own fund...or take that track record to a multi-manager to get you your own seat as a PM.
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