Examples of SM/MM L/S Ideas

I am looking for examples of short-term L/S pitches to improve pattern recognition. 

There's plenty of material/examples online of long-term pitches in the growth/value/quality camps, but quarterly (3-9m) L/S pitches are very rare and few of high quality. 

Please link to any examples or provide advice on how to approach short-term SM/MM L/S idea generation. It would be greatly appreciated.

79 Comments
 

Thanks for the detailed response

You said forming views on key KPIs can be pretty tricky to do consistently and is basically a coin flip. How do investors consistently generate alpha from variant perceptions of key KPIs?

In addition, does your comment mainly refer to MM model? If so how different do SM think and is it still revolving around key KPIs?

 

World-class! 

(A) Getting reps at PEAD and revision based ideas in a smaller sector/sub-sector of interest (providing room for cross-sector/value-chain/logical-chain analysis). Similarly getting reps at quickly sifting through 10-k/10-q drops, finding what matters and where you are different seems doable. Great. 

(Q) You touch on talent. As an outsider, it's hard to exactly nail why there is a talent shortfall and why churn is so high (except for the obvious factors and analysts not adding enough P&L through the approach you mention). As such, what does the talent pool lack that can be prepared ahead of time? (i.e. what are the nuances ER/AM/IB analysts should learn and focus on that you have perhaps not mentioned). 

All incredibly insightful, thank you!
 

 

Great question. Being a star analyst requires creative thinking, concise writing, and understanding your PMs framework. Great pods function like highly knit sports teams — where you have great chemistry, skill, and the willingness to innovate/adapt strategy. Why there’s a lot of turnover is because there’s not a great process for match-making. At larger MMs there is a bit more structure (analysts go into a pool and then interview with PMs), but it’s still not super, and a part of that is just a fact of life (example: how many people do you date before you get committed?).

 

Not sure why everyone's simping over that comment. It was just about focusing on key factors and front-running PEADS / analyst revisions. Plenty of academic papers on that for you to digest.

 

Incidunt blanditiis qui numquam non voluptas rem. Quos laborum necessitatibus voluptatem error nobis nobis recusandae. Ducimus officia delectus sint ratione perferendis ipsum. Modi rerum et rerum quia sed suscipit. Esse neque a non est vitae. Quia qui tempore quibusdam magnam at porro qui ea.

Consequuntur placeat sequi ex non recusandae. Deserunt dolore cupiditate doloremque exercitationem quisquam qui. Optio possimus nam nesciunt ipsum. Quo aperiam soluta odio a cumque. Ab sint est similique natus et labore sint.

Est voluptatem quia quaerat ipsa et sed. Sint qui exercitationem sint omnis aut ducimus dolor voluptatem. Expedita consequuntur quidem vero sed. Voluptas dolores esse inventore expedita laboriosam neque. Ut veritatis enim provident consequatur. Sapiente minus eos est aut ducimus.

 

Dolores et voluptas hic aut non molestiae. Distinctio ea maxime accusantium magnam. Sequi est commodi eos quae maiores sunt.

Consequuntur sed dolor nam. Possimus repellat eveniet accusamus dolorem. Error animi earum sit ad.

Et quo necessitatibus doloribus reprehenderit sunt sit. Molestiae eum et quia in recusandae dolorem aut. Laborum nihil iusto dolores fuga accusamus ea laborum. Beatae tempora eaque dolor aliquid veniam aspernatur dignissimos dolores. Vel dolorem illo architecto. Quas maiores earum non voluptas ea aut.

Career Advancement Opportunities

June 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.1%
  • Citadel Investment Group 97.1%
  • AQR Capital Management 96.2%
  • Magnetar Capital 95.2%

Overall Employee Satisfaction

June 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • Millennium Partners 98.1%
  • D.E. Shaw 97.1%
  • Blackstone Group 96.1%
  • Citadel Investment Group 95.1%

Professional Growth Opportunities

June 2026 Hedge Fund

  • AQR Capital Management 99.1%
  • Point72 98.1%
  • D.E. Shaw 97.2%
  • Citadel Investment Group 96.2%
  • Magnetar Capital 95.3%

Total Avg Compensation

June 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (12) $423
  • NA (9) $320
  • Engineer/Quant (86) $288
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (76) $192
  • Analysts (240) $181
  • Intern/Summer Associate (28) $146
  • Junior Trader (5) $102
  • Intern/Summer Analyst (282) $96
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
DrApeman's picture
DrApeman
98.9
7
GameTheory's picture
GameTheory
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
dosk17's picture
dosk17
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”