My sense is, it's substantially easier to go from ER to a ~$1B HF (vs. from a pod to small HF), and if I don't like that for whatever reason, I'd probably still have the MM option if needed
Feels harder to go from a MM pod to a smaller HF, right?
And in ER I can have patience to pick my spot better. In theory I go to the smaller HF and don't leave. While if I fall out of a MM will probably be rushed to land a new seat.
Is this the right way to approach this decision tree? Don't want to slip into head hunter discussions for a MM position
I am deciding which one is harder to read: this or a bankruptcy filing.
Lol fair. Simplified:
I'm in research, and am wondering about recruiting for a pod shop or a smaller single manager. I'm leaning towards not recruiting for pods because I think they'd limit my future options. Is the below mostly the right way to approach this decision?
Pros of pod:
Cons of pod (as I see them)
Pros of single manager:
Cons of single manager
This is pretty accurate.
However, I have heard through grapevines that some pod people have landed at some decent long onlys recently. I don't know how to read into that but just passing along.
Thanks, that's helpful. Will probably avoid pods for now and instead focus on a single manager where I fit well
Although, I do think L/S sector neutral is quite interesting and have been paper trading my sector with much success. Am working on learning a new sector for my personal account but that is essentially a second job
Sure.
I have also seen this recently (pods -> LO). But the color I've gotten is "50 identical resumes for one seat" -- so odds are unsurprisingly still ugly
For sure. In this environment, experience operating under a tight risk framework is valuable even for a long only, who is only as long term oriented as their LPs let them be (which isn't that long term).
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