How hard is it to go from a large L/O to a Hedge Fund (Either L/O or L/S)

Hi all,

Theoretically, how hard is it to move from a L/O shop like Fidelity, TRP, into a hedge fund? By "hard", I mean how hard is it to rewire your investment process from a longer holding pattern and having a longer runway for your conviction/thesis to hit vs going into a a space where the thesis is (presumably) more hinged on ST catalysts, high turnover, and an absolute return style vs benchmark return. 

Stuff I'm wondering:

• Do funds actually hold the L/O background against you, or is the fundamental research skillset a clean transfer? My modeling is pretty up to speed, am able to churn out new ideas every 2-3 weeks, but I have no idea what would be expected from an analyst at a HF or if the skillset is completely different/vs you are focused on different catalysts with tighter risk and less appetite for drawdowns. 
• Is the move more realistic toward SM / lower-turnover funds than MM pods?
• Anyone actually made this jump? What'd you have to prove to get there and do you think it was worth it?

I am early in my career so am also curious to hear people's thoughts on shorter hold style funds vs a longer hold and how the industry will pan out going forward, especially as seats continue to shrink

Thanks!