I’ve seen numbers like 55-75 and I’m just not sure how they manage
Are they doing really surface-level analysis and just focusing on top-down revenue model and key drivers for earnings modelling?
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I think 30-40 is a good baseline number. I know at Citadel and Balyasny, hiring a junior/associate gets you 15-20 more names to cover. Not sure about MLP P72 exodus.
Pretty superficial since the market is really only focused on couple KPIs at any point of time and often times are applicable to a number of names within the the same subsector so isn’t too difficult.
How do you go about tracking KPIs? Do you recommend any resources? I assume you get most of your info from proprietary subscriptions.
I meant KPIs such as revenue growth, margins etc
There’s a lot of synergy covering a sector, covering 15 trucking names well is like covering 3 totally unrelated ones in my opinion - still 1-2 conference to visit them, lots of readthroughs.
I think 20-60 for analyst but at the high end those people aren’t really updating every qtr, that’s sort of like 60 is your universe, but stuff can sit on backburner vs at the lower end alot of those teams want you to have positions on in most names always.
Keep in mind concentrated single managers still usually are pretty diversified in the short side, while the MM is faster paced (more about keeping things fresh and updated) you’re gonna end up on 10-15 shorts at a SM (in my experience, varies) and while thats fewer names, you are having to ramp more often, which is nice if you like being a generalist but not necessarily less work to do well.
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