Career advice pls - MM analyst covering not so important stocks
As title says, I cover some of the stocks that are often overlooked by my PM. PM deploys significant amount of capital in my names, good returns (when you get them right..), but my stocks are often consider "boring" and he does not spend time on these names at all.
As a result of that, good that he listens to my opinion on the names because I know the details of them better, but I'm still very junior and not a consistent good idea generator (while I'm trying hard to improve but it takes time). Saying this because in contrast to my coverage, one analyst covers the names that the PM himself looks at all day long and in his early career, they can actually have good discussion and he grows faster than me and can learn a lot more from the PM than me. Discussion on my names are often one-sided - I tell my boss news, ideas and thoughts etc. and he listens.
Not ranting here, curious to hear what you think I should do for the best of my situation now and in medium to long term career.
have you tried...talking to your PM about this?
He is always happy with what I do now but I'm worrying a little too much as it seems.
Sounds like a pretty good seat to me. U said he deploys capital to your ideas and listens to you. What more are you hoping for? PM doesn’t know your space well can be advantage to you because he relies on you more. As long as you are making money I don’t see what’s wrong with it.
Haha well I'm having all these doubts atm bc recently we are not making money! But I guess everyone has been here before.
First off, I'm at a SM so take what I have to say with a grain of salt. I would be curious to hear how other people's experiences have been, but most people I know -- including myself -- had to learn "how to invest" on our own while in our seats. I learned to do this by observing the names that my fund's founder invested in, the little comments that he made about his names, and speaking to him in general about his framework and process for investing. I then took those very high-level observations and -- over time -- began to refine it based on what works for me through through a lot of trial and error. Like you, I was in a coverage area where the founder did not have expertise and relied on me and my judgement. Because of that, I think I was able to grow a lot faster because I was able to learn by doing. I made a lot of really bad mistakes but that's the only way to learn. So, personally, I think you are in a great spot. You just need to take advantage of it and dispel yourself of this notion that someone else knows better and has the secret sauce.
Thank you, appreciate the comments. After reading yours I think I might just be in that phase of making mistakes, it's frustrating as it is and I do realize that I need to grow faster than I am now. And - snap out of all the doubts as you said!
Sounds like you’re in a great seat bro lol. To add another data point, I don’t learn shit from my PM and that’s speaking as an APM at a small SM that’s supposed to be working together super tightly and shit. You gotta rely on yourself and other analysts to pull yourself up. Maybe chat with the other guy who does get more face time and pick his brain for secondhand info. Read a shit load of investing Substacks relevant to your coverage/strategy to build up idea generation skills. It takes time and will be largely self-directed
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