Richard Toad’s pedigree
Any idea which buyside fund this guy actually worked at, before he moved into content? No info online.
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All I remember was that he was at Wells Fargo ER and went to a boutique shop
I saw a few of his posts which were poorly researched and commented some corrections to which he made no changes to the original post so I'm not his biggest fan
I knew him personally before but was blocked when I pointed out errors in what he published. He worked for a tiny value-oriented shop in LA or SF. I don’t think he was a real deep fundamental analyst. Unfortunately, most of his content agrees with that. Most of what he writes about various HF founders is regurgitated AI slop or his own assumptions w credibility less than gossip.
what were the errors?
he had/has a huge chip on his shoulder about pod shops/fast money who arent "real investors" cause his sub-scale generalist value fund was generating negative alpha
he didnt spend much time in the industry and his earlier posts on this site had all the tells of someone who couldnt really hack it, whether in a pod shop or a LO or much in between tbh
Publicly available- https://www.linkedin.com/in/jerrydiao?utm_source=share_via&utm_content=…
Dude he doesn’t disclose where he worked. Likely for a reason.
If you are a persist 2 Sharpe PM, why would you be doing YouTube videos :) That's why you learn "efficient market hypothesis" in college finance class that is totally useless. The useful stuffs are not public. Some smart hedge funds have been using the concept of Black Scholes to make money in options trading before the formula is published and public, for example
love some good Richard Toad slander
What’s wrong with him? Isn’t he just an influencer with free content?
It’s bad and misleading free content
I respect his hustle but his LinkedIn posts are insane lol he spams so much and every post reads something like "if you are SLEEPING more than 3 HOURS a night you will NOT make it, the Tiger analysts (that I know because I know them, trust me I know them) are WORKING 180 HOURS a day, you are an ABSOLUTE BUFFOON if you are NOT thinking for yourself like a REAL thinker on the buyside... If you even want a FRACTION of the chance of working on the buyside, you MUST train (preferably using my course, of course)." blah blah
I think his content can be useful; there’s not much ER stuff out there but one of the gripes I have with him is that his tone comes off bitter/negative at best, versus a neutral/objective take (re: Peak Frameworks, WSO, CFI, etc.). Like he has a chip on his shoulder, or is a self-hating ex-public equities professional and hates his own audience…
Even though his content is clearly catered for relatively inexperienced juniors, he often comes off super condescending/big egoed.
At this point after seeing so much of that grifter's content I wouldn't be surprised if he worked for Northwestern Mutual
He does good work for the audience he caters to
Started off with interesting content but it doesn’t pay the bills like spam. Unfollowed after he posted multiple sponsored posts from known scammer WSMM
He used to be on this site if you search around for Dick Toad, or dickthesellsider. He changed his username, you might be able to pull things together.
I made a comment here when I was very junior and much dumber, he said I’d be better off in corporate lol seems like it was projection
I was super interested in his content early on and still think he has a ton of useful stuff to say about the equity research world. One thing that irritates me though is he seems to really underplay just how important his NYU MBA was for breaking into ER. Like he literally wrote an article saying that an MBA that’s not from HSWCC is useless for public equities yet he would have never broke into that space without his NYU MBA. The resentment he has towards it was really strange too. He’s said that he would never hire an alumni from NYU. I think his ego won’t allow him to give credit to anyone except himself.
why would he never hire anyone from a school that helped him break in? makes 0 sense
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