Ignore title. lateraling from my current fund (started out of undergrad), so haven't done a proper process since I was in school 2 years back. Know these guys are long this name (13f).
Any drawbacks? Assume the pitch is good (80% conviction on thesis, I'm just a shit writer)
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commenting to avoid bot
Yea maybe you are helping them dodge a bullet. Just gotta be able to understand why they are long and where they may be mistaken in their thesis. Good luck. Hopefully you have a good interview/meeting/discussion. If you want to DM the pitch or name, I am interested in reading/hearing. Thanks .
assuming they sold bc R/R is 1-2x at curr levels for bull case; afaik their thesis is already priced. they chose the name. will dm
You’re assuming a level of intellectual honesty and humility that doesn’t exist in the industry.
so avoid?
Zero upside / unlimited downside scenario
Don’t be a coward.
If you really gonna do it, that pitch can not just be GOOD, it must be THE BEST your interviewer has ever heard. And even that, you need to assume that person has a near-zero ego.
Like come on, unless I am the fund founder/partner/some untouchable position, why recruit someone to replace me?
Agree that it can go either way. But if you do pitch it, please share what they say lol
anyone wanna see the pitch lol, wrapped first draft
I’m interested
PM
Sure send to me
out of PMs shoot me one
Ya interested would be great if you could DM me
Send to me as well
PM me
delete
I’m happy to provide feedback if you would like. Just DM
I'd love to see the pitch and could help give feedback as well!
Ignore title. Would be happy to provide some feedback if you want to PM.
I'm Interested
Interested!
delete
I'm curious as well, mind if I see?
Interested as well
Interested too
can take a look. i pitched along when they were short and got the job, but i agree it needs to be good
You’re entering a bad risk reward situation
This is what we in the gambling world call a negative freeroll.
definitely a skewed to the downside situation, but no point in having balls if you don’t use them
Stock pitch is not a diving contest, there are no additional points for complexity
Good luck! If you are willing to share the thesis maybe we can help evaluate lol
it can work, but it usually has to be grounded on unique research (channel checks, uncommon data points) that helped you uncover an unusual risk...you can't just rely on thinking about the business/valuation differently
In theory it should be fine and even good if it’s a good pitch. In theory.
In 2015 I pitched GME short to a fund that was long, they didn’t even want to hear to the diligence/thesis and just had to sit through Analyst trying to defend his name to the PM.
Didn’t get job, fund is gone though
If it’s a pod or something I wouldn’t be worried, could be a short term position or the long side of a pair or belong to some random PM with no say in the process.
it's a single manager
Focus purely on catalysts they might be missing rather than attacking their stance.
Despite what people say, everyone wants a “yes man”
I had a fund ask me do a case study on a name and I wrote it up short. Later interviewed with a different fund a month later that had the same name in its 13F and asked the PM about it. Pretty astute PM - asked me why I was interested in that particular position, and when I gave him the story, told me that he could either tell me his thoughts or have me just send in my already written up short case as my case study. Of course I went with the latter, and it turned out that the fund had already exited the position as they agreed with my concerns and rationale. 2 years later, that stock has been a mostly straight line down -98%. Unfortunately got dinged very far into the process for the dumbest of reasons, but that's life.
Would only do this if you're experienced and confident though. Most times this is the fastest way to expose your flaws given they already know the name well.
Personally I think a place that would have a problem with this is not a place I’d want to work
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