RV or Macro at HF?
Would you pick a Macro desk or RV at a HF ?
Last year Macro did well but heard than in the past it did poorly. Was last year an outlier?
Which one is more quanty?
Would you pick a Macro desk or RV at a HF ?
Last year Macro did well but heard than in the past it did poorly. Was last year an outlier?
Which one is more quanty?
+59 | Looking for a Fund Manager to partner with to start a new fund. | 28 | 1d | |
+36 | How to destress at Pod HF? | 16 | 1d | |
+25 | Any R course recommendations? | 14 | 3d | |
+24 | Starting Personal Account | 12 | 5d | |
+22 | Fastes PM progression ever seen? | 28 | 27m | |
+20 | Track Record Expectation For PM's | 29 | 11h | |
+16 | How extroverted is the junior MMHF job? | 5 | 2d | |
+16 | Which Funds focus on timing the broad market rather than L/S individual equities? | 10 | 6d | |
+16 | HF perspective on Google (Alphabet) | 5 | 2d | |
+14 | Recommend Pass for MM HF Case Study | 4 | 3d |
Career Resources
Quite hard to say because it’s very much team and product dependent. Over time most pods seems to move towards taking less “macro” risk in favour of low-vol RV type strategies. Most people who do “macro” would still have some RV tilt if you were to decompose their book. So the line is very much blurred. All I can say is try to go for products where you can generate alpha and have capacity. RV rates, systematic futures are ok. RV credit or equity vol arb can be tough. Quanty-ness depends mostly on the team’s approach, but everything else being equal I would say RV is slightly more quanty.
Thank you ! Very helpful.
Do you have any books to recommend for RV rates?
RV is far more stable and you can always tilt towards a directional macro thesis when risk/reward is compelling.
Very helpful thank you
Macro is a bit of catch-all that can mean different things to different people. As someone mentioned above, the lines can be very blurred. I would focus on the difference between directional vs. relative value risk-taking in macro products. My advice would be that it is generally easier to be in a directional macro seat and occasionally take advantage of relative value opportunities than it is to be in a relative value seat and take advantage of directional macro opportunities. The former is often a downshift in risk profile vs. the latter and this makes it more palatable to all involved - management, LPs, whatever... I think its similar to a discretionary macro person wanting to build out more systematic structure to better inform risk-taking vs. a systematic macro person wanting to veer into discretionary risk-taking where again the former is a lot easier to sell.
One last comment - the personality types / risk-taking experience are quite different between the two. I would chat with people a bit more about what they do to try to understand the differences and what might be better for you.
This is actually a very good advice.
Aut odit nemo eum eligendi nemo reiciendis quod. Iure in deleniti esse dolorem officiis. Et inventore labore possimus ut. Quasi minima soluta tempore recusandae cum optio quis. Inventore odit rerum dolor deserunt harum nobis cupiditate. Deleniti nam qui provident est ut eum. Error ut a quaerat quis molestiae incidunt aliquam.
Consequatur ad enim et sint sed rerum omnis fuga. Cum neque aut qui quia modi. Eos rerum dolores quasi deleniti cupiditate rerum quo. Sed error id quo quae enim cum.
Distinctio pariatur deserunt nostrum quas et aut repudiandae. Voluptatem ut porro fugit neque provident dolores. Sint consequatur deserunt earum at in ullam. Doloremque sit ut laudantium possimus.
Inventore atque eius velit est impedit. Repudiandae nihil maxime numquam placeat soluta voluptate. Rerum blanditiis quo cumque. Aut omnis sit ab explicabo provident eos nostrum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...