L/S Pods in Dubai? How does this work?
Given time zone differences, how does this actually work? Never worked ex-US, but how does a PM find 200 names to cover / build a portfolio accordingly / trade around it weekly / monitor news flow when London mkts open at noon in Dubai and close at like 8:30pm, and US hours flipped. If youre not in energy / infra / financials (guessing majority of public co's in Middle East are those sectors), how the fuck do they actually make this work? How would a TMT book work?
Also, how common is it for US analysts / PMs to leave for Dubai office (I just visited and loved it and would seriously consider moving), given coverage will surely change.
Mostly euro PMs and satellite offices. Obviously can’t rely on mgt meetings with strategy.
Ah, the allure of Dubai! It's a fascinating question you've got there. Based on the most helpful WSO content, I can tell you that running a L/S pod in Dubai, or any other time zone outside of the US, can indeed be a challenge due to the time differences. However, it's not impossible. Here's how it might work:
Coverage: The PM would need to find companies to cover that are active during their working hours. This might mean focusing on companies in markets that are open during these times, or it could mean focusing on sectors that are less sensitive to immediate market fluctuations.
Building a Portfolio: Building a portfolio would likely involve a mix of long-term investments and short-term trades to take advantage of the unique market dynamics in their time zone.
Trading: Trading around the portfolio would likely involve a mix of pre-set trading strategies and real-time adjustments based on market conditions. This might mean having a team that works in shifts to cover the different market hours.
Monitoring News Flow: Monitoring news flow would likely involve a mix of automated tools and dedicated team members to stay on top of developments in the companies they cover.
As for the question of how common it is for US analysts/PMs to move to Dubai, it's not unheard of, but it's not super common either. The move would likely involve a significant change in coverage and a need to adapt to the unique market dynamics in the Middle East. But hey, if you loved Dubai and are up for a challenge, it could be a great opportunity!
Remember, this is just a general overview based on the WSO Dataset. The specifics can vary greatly depending on the firm, the PM, and the individual circumstances.
Sources: Top L/S in London and Hong Kong (e.g., Lone Pine, Viking, Coatue, Maverick, Darsana, etc.), How to go about L/S HF recruitment for a pod from 2 years in IBD as analyst?, L/S vs LO from a non-monetary perspective
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Did you get your answers? I'm interested to know this as well. I've noticed that majority 80%+ of PMs and Analysts have moved from London.
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It is not so difficult for systematic PMs, so a lot of equity/macro systematic PMs move from Europe. Not sure above non systematic.
Number of PMs in Dubai but the keen analysts in London/NY. These are the guys waking eh mgmt meetings etc
Based in Dubai and looking to join a MM here. How do analysts in Dubai conduct channel checks and management meetings if they can’t be there physically? Are analysts here not covering European/US stocks and only focusing on Middle Eastern stocks? Any insights?
kind of out of the loop, but what's the point of being there outside of taxes? seems like a disadvantage in terms of management meetings and being in the flow?
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