Why do all the smart/nerdy people do RX
So just for some context, I am an intern in a restructuring group in NY. I recruited RX primarily because I had related work experience, and as a result had background knowledge + connections with various people across various RX groups. Now that I am here however, I noticed that literally everyone in my group is very sweaty and nerdy and I'm wondering why (I'm not saying that this is a bad thing btw, I respect it). For context, I recruited last year a bit before all of the rate hikes so it's not like people recruited because they "thought RX would have more activity than M&A" (although you could argue that with the persisting inflation the writing was on the wall for higher rates in the future). Just curious, any explanation of why these kids recruit RX instead of M&A would be helpful
For me:
A. No layoffs right now
B. Interesting tactics and strategies
C. I’m edgy and I think bankruptcy is something cool to work in
D. Lot more moving parts and different parties fighting eachother
Because it’s hard
to achieve decent performance? yes
Not optimal for bchool btw
RX is exciting because it is like chess on meth. I don’t know how anyone can go from doing distressed deals to boring vanilla shit after taking a hit from the crackpipe of distressed investing.
until you notice the imbalance of subpar average performance of distressed funds vs the amount of analysis required for a sliver of average returns (compared to other strategies with much higher average risk adj. performance, e.g. PE, DL, REPE)
There will always be distressed situations. Just because we were in an insane bull market the last 14 years doesn't mean it's going to continue.
Self-improvement is mental masturbation. Now, self-destruction…
Mental castration?
more intellectual, but without the gambling nature of HF
Natus tempora impedit repudiandae nulla eligendi asperiores. Non quis mollitia voluptatibus a tempora. Totam ducimus expedita odit consequuntur qui. Dolores et perferendis ut incidunt qui ut.
Sit provident aut consequatur aut tempora eum. Amet eius quo dolore. Voluptas incidunt aut alias ipsam at. Temporibus et non et nisi sed ullam. Quo ipsa placeat aut non.
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...