Ideas Churning Hedge Fund PM
wanna learn about your experience working as an analyst for L/S equity PM.
been working for this PM for several years. On the front, we claim that our strategy is to find multi-bagger stocks. But in practice, the PM just keepsideas, , and equity sales ideas consistently. He never bothered to read reports and understand the core thesis. Instead, he simply uses a price chart to evaluate the on a daily basis.
I once discovered a 7-bagger, but the chart was not good enough in the journey to +700% with -20% from time to time multiple times. In the end, the stock was swung out of the portfolio after we made 100%. Still, I got intense heat from the PM for not getting out 20% earlier.
This is just one example. Sometimes, he got into my stocks 20-30% late, or sell it 50% earlier. I can't do anything about it. Every time he feels we did buy/sell earlier, it's all the analyst's fault. The price chart tells everything.
I was pretty annoyed by the fact that the PM conveniently ignored his mistakes, and then blamed analyst for not doing their job well whenever the share price went against us for several days. This environment creates constant intense stress by the hours.
Ironically, the PM still says we want to find a stock idea with a big upside, we don't care about the near-term noise. WTH.
To conclude, the PM's strategy is to squeeze analysts to his own advantage.
I'm thinking of a move. I don't find this price charting strategy to ever work and beat the market.
what do you guys think?