Overcoming the Learning Curve without being Annoying
I recently found a LMM investing seat after 2 years at a BB /EB coverage group as a mid to lower mid bucket analyst The group I was previously in was also a completely different sector than what my new team covers (example: industrial -> tmt)
Maybe some of you had been in a similar situation and can relate. I’d like to know: 1) What was the learning curve like for you / how long did it take for you to fully get up to speed on the sector and getting how stuff fully works? For me I like to understand the “why” behind everything, instead of just the “what”
2) Did you have somebody to help guide you through concepts that were difficult to understand if self-learning wasn’t fully effective?
I want to learn efficiently without appearing annoying or incompetent when stuff isn’t clear, although I understand I’ll still be annoying regardless. Any general advice on how you guys successfully overcame your learning curve?
Slightly different experience, but I'll take a shot.
Start reading everything you can on the new industry - publications, blogs, announced transactions, literally anything you can find. Everytime you have a question, write it out, then start googling till you have an answer. Write this answer down as well, and keep this with you. Continue to do this.
See if you can find a "mentor" either in your firm or outside of it. Use this person to confirm your understanding of your answers. You look so much better saying (at the appropriate time) "I know we're looking at this thing, I've been doing some research and I think the answer is this, do you agree? If not, why is that wrong?" Vs. "I'm new, I don't know where to start, please take time out of your busy day to babysit me."
If you cannot find someone in your firm, start networking. You're a BSD titan of industry on the buyside, reach out to sell side people and pick their brain. My guess is that they'll trip over themselves to help you in the hopes that one day you'll throw them some fees.
In summary:
1) do the work yourself
2) find a mentor
3) get creative
Congrats on the new gig - time to forget about where you were bucketed previously and work to succeed in the future.