What is the difference in personality between a fixed income PM and equity PM?
Previously worked at a fixed income + equity shop and the difference in terms of personality was pretty stark as one focuses on the upside and vice versa. Personally, I do read sell-side credit reports but don't focus on it too much as it is way too macro-oriented.
One would have thought FI PMs have longer time horizon and subsequently more calm and collected, but based on my personal experience, FI PMs are crazier than monkeys and less risk averse than the equity guys at my fund. On the other hand, equity folks are busy cranking out models and quietly watching positions. Currently working in equities-only fund but still the experience was bizarre and totally against my expectations
Do fixed income PMs sit beside equity PMs at your fund? How often do you take ideas from each other? Curious