Anyone know about them? I've gathered that they have 1.6bn, are classified as an activist hedge, run by Michael Price who used to run Mutual Series and then Franklin Templeton Pierce (basically, the info on Forbes).
Looking to know about their reputation and possibility to leverage a summer there in to FT elsewhere if necessary. Thanks
| +19 | Buy Side Credit - Seats / Guide | 4 | 7h |
| +18 | How much modeling do experienced HF analysts/PMs actually do? | 1 | 9h |
| +13 | Hedge Fund Pivot | 3 | 1d |
| +11 | Mid-career shift to buy side with niche background | 3 | 2d |
| +9 | Wfh / work remotely at MMs or SMs? | 5 | 1d |
| 0 | Hedge funds | 1 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
http://merlin.gsb.columbia.edu:8080/ramgen/video1/greenwald/Greenwald_B…
Good place. A lot of hedge fund managers got their start working under Price/Heine.
Max Heine and Michael Price are easily in the pantheon of distressed/value investing. If you're interested in mutual fund management or L/S hedge funds, a FT gig at MFP as an analyst would be pretty huge.
Thanks. Any idea what comp would be like there?
Take this with a grain of salt, but I would expect a base close to what Fidelity/Wellington pay (80k), assuming you're just out of undergrad. (Prorate that for a Summer stint). Performance bonuses are probably higher though, due to the size of the funds and habit of crushing market averages.
Comp shouldn't be a concern at this point in your career. A few years at MFP will open a lot of doors.
Yeah, you're totally right that I shouldn't be worried about comp at this point, and it's probably around #20 on my list of considerations right now. Compensation out of undergrad is so minuscule I'd work for free if it weren't for rent.
Anyone else know anything I should be thinking of? Even if it's not about MFP, any good resources on their investing style so I could sound reasonably intelligent about it in a conversation?
The funds at Franklin Mutual (that Price used to run) are roughly similar.
This one has the most discretion and is probably the closest comparison: https://www.franklintempleton.com/retail/jsp_app/products/fund_facts.js…
Price is "adventurous" value investor, as in he's willing to look into special situations as well as undervalued securities.
The first chapter of Vulture Investors talks about one his distressed debt plays in the 80s: http://books.google.com/books?id=LUN9VFyCpQsC&dq=vulture+investors&prin…;HL=en&sa=X&oi=book_result&resnum=4&ct=result
Value Investing: Graham, Buffett, Beyond also has a chapter on Price (chapter 14):
http://books.google.com/books?id=gvCzlskpZxoC&dq=graham+buffett+beyond&…
Finally, you can check a more or less up-to-date portfolio here: http://www.stockpickr.com/port/Michael-Price/
Thanks GoodBread, very useful links. I guess that's as much as I'm going to get online, time now to set up a meeting
What does MFP stand for?
Assumenda fuga beatae dolor dicta alias est. Quisquam dignissimos velit ut deserunt at eligendi porro. Consequatur reprehenderit iste eaque. Velit quia harum quasi. Non aut pariatur in sunt ut voluptatum.
Voluptas at quis voluptate aut. Saepe atque quo corporis magni quisquam repellat. Porro et quidem odit qui cumque atque officia.
Nam est occaecati praesentium error aperiam nihil. Deleniti nihil distinctio deserunt perferendis architecto. Veniam alias nihil aut ut quia sunt et. Esse magnam ea ut cumque vitae. Nihil accusantium provident et veritatis molestias. Nemo repellendus consequatur quod sunt voluptatibus dolor molestiae ducimus.
Nesciunt accusantium qui saepe velit sequi voluptatem deserunt veniam. Sit ut quidem voluptatem aut ab ut excepturi. Eius ea minima quod voluptas pariatur sit. Voluptatibus voluptatem aut velit totam velit neque atque est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...