Would choose MM over SM any day of the week
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Clearly you haven’t done this for many years. And I work at a MM. agree on the meritocratic side of it 100%. But MM is a much worse day to day job in my opinion because you are always worried about spread. My view is that a good SM seat is a much better lifestyle than MM. but yea if you want to be a millionaire by 27, MM is better.
By your logic, if all I care about is $$$, I will go be Pablo Escobar.
Why did you change the details? Both years of experience and compensation?
Regardless of SM or MM, your post reads of somebody who has yet to be humbled in the HF industry, which is an inevitability if you do stay in the industry for 5+ years. I hope you do a follow up on this post when you go 24 months without a bonus.
You are assuming he still has a job by then
Nobody cares, would rather work for TCI/Pershing/Elliot if I did GS/BX/HBS instead of joining Point72 Academy
~coming from MM monkey
Those three are NOT representative of the average SM. Need to compare AVERAGE MM seat (not superstar PM, but not new analyst promote) to AVERAGE SM seat (some scale, maybe $1-2 billion, OK returns). That's like comparing tech to finance and saying tech is better because your friend joined OpenAI in 2016 and became a billionaire - they are very much outliers
So we're comparing the average seat at Exoduspoint to some random singlemanager? Seems pointless...
so you're telling me you rather grind the markets 24/7 with paranoia and neurosis, trying to nail if VZ is going to add more subs than AT&T next quarter based on 3yr CAGR stacks + alt data, only to get blown out anyways by some unforeseen event or the random walk of the markets, playing game theory about what is already expected is so expected that it is unexpected, which makes it expected again
Rather than hang with chase and scott while they plowed money into every single delivery start up during an up-market because some consultants told them delivery is the new economy
(before anyone comes at me, this is sarcasm. I have zero skin in the game; willing to work hard under good teachers)
In all seriousness - its not a shock that some people got into the equities game with a different expectation/philosophy than the pod shop process. I'm waiting for the new investing book to replace buffett and margin of safety, and its just "how to follow your coverage universe super closely to identify inflection points at earnings that marginally changes the market's view on a stock".
Dogmatic beliefs about investment processes or strategies is useless - a million ways to skin a cat, and I believe its valuable to be open to every single one. Its important to have a process + conviction for sure, but to assume that things won't change (ie: that the alpha pool that pods are hunting in won't get harder and harder) is naive in my opinion. Everyone has the same foundational skills at a certain point, just have to strike while the opportunity is right in your process. Arguing about which strategy is better or alpha vs. beta riding seems futile. Money is money
I have a hard time believing you are actually a HF analyst given this post, although you might just be someone who thinks they're a hotshot and will get humbled pretty quickly. There are obvious upsides and downsides to both jobs, but you seem to be missing any nuance in your points. Most SMs are not tiger cubs and do not invest in the same way, and if you actually had any basic math skills, u would see that a large SM with a very high AUM/IP or AUM/employee can afford to pay out bonuses even in down years, thats one of the key points of the business model. (BTW I agree that top MMs are better investments for LPs and better for those who want to bet on themselves at get super rich at a young age).
MM = data trading monkeys
SM = data trading monkeys, but have less data and lie about not trading data
Lotta truth in this lol
Flexing 500-700k total comp is hilarious
Eh, 600k at 26-27 is pretty good money, no?
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