Do you have to be absolutely obsessed with the markets to succeed?
I'm a young person just starting out a career at a LO AM firm where a lot of people who spent long careers in the pod shop world come to "retire" (ie. clip a few million a year). I've noticed that the senior people at my fund with the most successful careers have been absolutely obsessed with the markets - even when they are having fun on the weekends it's networking and hanging out with other people in finance.
I consider myself a hardworking, curious, and highly analytic person but I'm not sure if I'm willing to surrender my life like that just to suck the most alpha as possible out of the public equity markets. In my spare time (I work 60-70 hours a week usually) I like to paint, bike, go fishing, and go bar hopping with my friends, most of whom are not in finance. Can someone please share what level of dedication is necessary to hack it and have a successful and long career in this industry?
Based on the most helpful WSO content, here are some insights regarding the level of dedication necessary for a successful and long career in the hedge fund industry:
Obsession with Markets:
Work-Life Balance:
Career Longevity:
Alternative Paths:
Personal Fulfillment:
Industry Realities:
In summary, while a high level of dedication and passion for the markets is often necessary for success in the hedge fund industry, it's also important to consider personal fulfillment and work-life balance. The industry is demanding, and not everyone may find it worth sacrificing their personal interests and well-being.
Sources: Longevity of Hedge fund career: how long do people last in this industry?, Longevity of Hedge fund career: how long do people last in this industry?, People who fall off the map professionally, Life Goes On..., Are you guys happy with life? Help me please.
In my opinion, yes you have to be obsessed with it to succeed long term, however that depends on what your definition of success is. If your definition of success is having a job where you provide an upper-middle class to upper-class lifestyle for your family, then you can be an average mediocre employee and probably skate by feeling successful. If your definition of success is a tail outcome, making millions of dollars and maybe starting your own fund one day, then obsession with your craft is likely required and so are sacrifices in other parts of your life. Luckily for you, most LO's are slow to fire people, so if you even keep up a decent level of effort, you should be fine.
Maiores in et ullam modi. Atque ratione iure beatae. Atque officia quisquam asperiores.
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