Opinions on Soros Fund culture, leadership, performance, etc?

From a prior thread

Equities a much smaller part of the firm, credit and other divisions much bigger. Just a handful of teams with very low headcount, but AUM/head is thus pretty good. Each PM has very different mandates from what I can tell which can be narrow (single sector equity focus) or broad (L/S all asset classes). Turnover was high when Dawn took over as she cleared house but has settled down, she has some anecdotes about giving PMs longer leashes than they would get at a typical pod shop, i.e. you'll get fired after a down year but not necessarily after a down 1H. Culture is also chill, a lot of people live far away from the office and work fully remote.

I would answer all of this in painful detail but I have to be careful around the details as headcount is not that high and disclosure is obviously not very public unlike Millenium/citadel comp structure etc.

Broad strokes:

- market neutral - no, none of the books are market neutral. Long biased directionality depending on the PM & strategy. Can even be 100%+ net long in some circumstances/environments

- comp - less % than citadel/Millenium, but because you're not market neutral you can have 10,20,30% P&L years

- leash - does not work like a pod shop: you don't lose your job even after a down year, even a double digit % down year, unless you are shown to be a poor investor/philosophy doesn't align with the fund/Dawn anymore. You can get fired even if you're up if the philosophy/risks you take aren't aligned. If you're up 10% obviously harder to justify firing but I've seen people get axed during up years (underperforming relative to expectations/ "sharpe").

There's also a fair bit of private investing you can do as well. Most L/S equity PMs can do privates, and some do a lot of private equity deals.

Risk limits work very different here and are customized based on portfolio and generally much more flexible unsurprisingly. For example, my book can take a double digit drawdown and not be axed.

- AUM/head - smaller than you think but you can lever up your equity allocation yourself, you're not given pre-levered money like at full pod shops.

Can also scale positions up $100mm+ with more attributed capital if Dawn likes them.

- culture - pretty relaxed. PM dependent to a degree but there are no hardo PMs (anymore)

No reason to get into much more detail because if you're looking for a European L/S Equity seat there's no spots currently and for the foreseeable future (obviously can change quickly but I don't see it trending that way). As was mentioned overall voluntary & involuntary turnover is pretty low and thus not a ton of new PM needs. Longevity here far outweighs the pod shops.