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I knew a true generalist macro/equity PM at a pod shop back in the day but he was really exceptional. Went on to another fund (non-pod) and now has his own fund.

Pod shop PMs generally have coverage creep (to the point you might consider some of them "generalists" given they trade names across 2-3 somewhat related sectors). They start with names they covered and knew super well as analysts, but eventually push their team to expand that coverage to more and more tradable names. There's probably a tradeoff in that they will eventually become tourists in someone else's specialty. FWIW this is from my experience at pod shops from 5-10 years ago so things may be more stringent now.

 

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