Hey everyone. I’m a Non-target senior who has an internship in ER at a MM bank this summer. Eventually my goal is to make it into the buy side and a lot of my self-learning has been directed toward that. I was wondering how do you step away from straight-lined Investment philosophy and thought processes and gear toward thinking outside of the box thinking, using alternative data, etc.
Did you train your mindset to think this way? Was it from mentorship? Pure experience in the industry? And how should I go about shifting mindset to more abstract thinking? Any good book recommendations or podcasts on this stuff? Thanks.
Consume everything Buffett and Munger have said or written. You would be set.
Dude you know as well as I do that is relevant to long-only mindset at best.
For the hedge fund mindset, go read When the Wolves Bite, about Icahn and Ackman and their battle over Herbalife. Two Masters of the Universe, battling it out over diametrically opposed high conviction ideas and huge egos... Also, there a few fictional books that get it right too. DM me OP if interested
Did any of you guys or gals play team sports in high school or college? The day-to-day at an HF, in my view, requires a higher level of "game-night" intensity and communication that occurs in squads and teams on a day-to-day basis.
There is much more at stake on any given day, mainly due to stricter risk limits as well as comparison to peers, amongst other reasons.
HF: Everyday is Day One.