Need Advice
I a mid/upper 20's guy in need of some advice as I am a bit lost professionally.
I am summa graduate of Wharton, with top RX experience, and private credit experience.
When I was in RX, I realized the world of PE was probably not for me given I didn't love constant process, calls with lawyers, etc. I took a job below my skill level / ability, with easy hours (9-5), free weekends, no stress and ~$300k. I took it in part because at the time I wasn't sure about what I wanted to do in life (problem now), and wasn't sure after being burnt out (to an unhealthy level) in RX that a HF was for me in the immediate term (joining another pressure cooker).
My mother worked up in finance, and as a result of that I was never allowed, until I joined the workforce, to trade stocks. I trade in my free time due to our lax policies on this and love it. In the last year, I have found myself to be incredibly bored by private credit, and find it not only to be a bubble, but basically credit firms becoming banks. In addition, my current firm is rudderless, and I often envision myself while working here (although I know its temporary) floating aimlessly at sea (this is what it's like to work there). I recently had a chance to join a UMM/MF PE shop, and run my own ABF strategy, with comp probably of 450-500k + 1-2mm of carry, but couldn't do it because I just found myself not truly interested in the space anymore, and would rather find something truly interesting (perhaps naive) even if it paid less (particularly in immediate / short run). In other words, I appreciate the law of diminishing returns.
I have become really interested in some event driven stuff (not merger arb per say, but say Fannie / Freddie junior pref, Sable Offshore Corp). I am broadly interested in L/S equity as well - I am a little worried about a pod because this would be my fourth job, and so what about the downside. I think I could always do PC given I have more than the talent (I realize not the most humble, but the truth).
Two questions:
- What are some shops that could fit someone who really wants a flexible mandate where I could do some fun stuff like the two names above (if at all)? I don't want to do Chapter 11s again really (like a Silver Point), but "stressed credit" / special situations in addition to equities would be interesting. I think equitiies are probably more fun and so I am inclinded to do that, but do like some one off special sits stuff
- Any general advice
Just a young guy a little lost professionally and looking for some advice. Thank you in advance. I am trying to get it right this time for the long run.
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