No transparency to book and P&L - is this normal?
Just wondering if it is common in HF for the PM not to show their book to the analyst? This is my 2nd job in HF, and unlike my previous fund, the PM refused to show/share what is in the book and P&L even though I have worked there for a year. I have difficulty prioritizing research effectively or protecting the portfolio without knowing what is in the book or how positions are sized. My PM said this is so that I do not get biased. But I do get blamed when positions were not taken down in time when the sentiment shifted for some investments...
I doubt this is helpful for my career development. I've heard similar stories in other funds, but I'm curious if this is normal? How do you learn how to risk manage or perform well in such an environment?
"My PM said this is so that I do not get biased."
Sounds like he doesn't want you to see a red PnL number.
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