I've been at a fund for 2 months and hate it. please advise
so i recently took a job at a very well known l/s value hf as a junior analyst. the fund is long-term focused but BC of the pm i work under i find myself blowing through ideas so fast without doing any deep analysis on them. in 2 months ive already screened 14 ideas...aka almost 2 per week. and by screen i mean read up on it for a day, put togerther quick analysis of potential outcomes (without really understanding how likely those outcomes are). My hours are awful and stressful as a result (~90/week: NOT EXAGGERATING)...i ddint think a long-term focus fund would be like this. Can someone in the industry please help or PM me with advice
... not all ideas are worth a deep dive. Screening companies is part of the process before you decide to commit substantial time to DD. Can't speak much to the hour issue, except to say my friends who started at funds after banking said the drop in hours wasn't quite as significant ad they expected, but I is getting better with tenure.
i dont think one day is enough to properly screen a company given my lack of experience doing it. for a seasoned analysts maybe...but not me
Not much to contribute, but I love the work-inspired nickname. I also would find it odd to go through an idea in one day - unless you are going for some specific checklist of qualities - then even 5 minutes could be sufficient (e.g. significant FCF generative? No. Next).
Sounds tough, but I would suggest you just hang in there and get used to screening those ideas faster or maybe talking to the PM and finding out what he looks for so you can cut down on the hours. Also, if you've only been around 2 months, you haven't caught on to the learning curve yet. If you still don't like it after about 9 months, start moving so you can leave around the one year mark.
dude this is the hedge fund industry, 80% of the outcome is luck, 80% of the people are just addicted to seeing prices move on bloomberg, 95% have no fucking idea what they are investing in. It's laughable that a banker becomes an investor by reading a 10k and some earnings calls and doing some expert calls during a span of 5 days. If you wanna learn how to invest and how businesses are run go work for someone like Malone, not at a "value" hedge fund.
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