PM pressuring me to change my rating on a name?
Hi all. My PM is under pressure to deploy some cash and, without getting into why, the range of opportunities is quite narrow at the moment. This manufacturing company has reported mixed numbers for a year now, in a period where most others names in that sector under my coverage have done well. Now, we are going into a possible recession, the company has material energy exposure in EMEA and poor credit metrics, so moved it to a market weight position (essentially, do not sell, but do not buy more). Because it is trading cheap, he has been on my neck for a couple weeks on this. I am quite new in the team so still moving carefully.
I was thinking of meeting in the middle and insert some language around being okay to add exposure if price works very well (which is redudant really since all trades are price sensitive - but alas). Thoughts? How do you deal with this?
You dumbfuck he got insider information why can't you just listen to him?
Not uncertain
Thing is, he can buy on my reco, does not need to follow it.
dumbfuck he’s trying to cover his ass when the SEC comes knocking. “Why’d you buy” “bc my analyst changed his rec”
Huh? What is a “rating”? Sounds like a rating agency or sell side thing
OP works at an asset manager not a HF judging by their title - pretty common for them to have internal conviction/rating scores indicating whether to go overweight/underweight on a name.
Lol
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