Any one else doing badly this year?

I know the markets are up generally this year, but seems like funds seem to be doing poorly this year relative to last year (after a banner year last year). This year has been a struggle to say the least. 

I know when we're doing bad when all I hear is yelling from my PM, including a lot directed at me. Kind of sucks to be honest, because every mistake seems to be magnified right now 

Hedge Fund Interview Course

  • 814 questions across 165 hedge funds. Crowdsourced from over 500,000 members.
  • 11 Detailed Sample Pitches and 10+ hours of video.
  • Trusted by over 1,000 aspiring hedge fund professionals just like you.

Comments (26)

Sep 28, 2021 - 10:59pm

Well, can't yell at people who already got canned. 

Instagram: @dickthesellsider | Substack: dicktoad.substack.com

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Oct 1, 2021 - 6:18pm

Past month / two weeks were tough for most stat-arb shops.

"one for the money two for the better green 3 4-methylenedioxymethamphetamine" - M.F. Doom

Oct 1, 2021 - 10:46am

Woah where do you work? I've worked at a bunch of funds now and have only ever seen people yell at advisors / external parties so what you're describing is outside the norm. Heated debate is one thing, but yelling at coworkers is not ok.

Oct 1, 2021 - 12:17pm

trading desk dynamics can quickly break down under stress/bad performance, causing a lot of resentment. Gotta power through it and if your PM still is an ass, then feel free to leave

on the macro side, lots of funds have been hurt by the reflation trade and coming from 2020 where they had stellar performances leading to capital inflows, yeah it's a struggle

Array
  • 1
Most Helpful
  • Partner in HF - EquityHedge
Oct 13, 2021 - 8:11pm

That fee likely has a hurdle rate pegged to an investor chosen small-cap index, if not, that is a great deal and the founder must have had some magical years to be able to retain it.  Please correct me if I have been mistaken.  If you guys are guys are moderately hedged (30-50% net exposure), there should still be some outperformance on the relative level.  

Hope for all the best and in tough times usually, there are also great lessons to pick up.  Keep your head up and next year will be better.  

Oct 3, 2021 - 12:53pm

Just make sure to move those alpha $$$ back into FAANG, two days before year-end reporting. 

Instagram: @dickthesellsider | Substack: dicktoad.substack.com

  • Intern in IB-M&A
Oct 3, 2021 - 1:10pm

Nah bro the real deal is wiring the money to a crypto exchange, buying a proof of stake coin with daily payment like XTZ, buying a derivative to hedge against downward price fluctuations, staking the coin at 5.5% APR, then converting it back to fiat just before reporting

  • Research Analyst in HF - Other
Oct 13, 2021 - 11:43am

What is the context? Are you at a L/S or quant or macro or etc. MM or SM?

I hear lot of l/s desk have negative alpha this year although that gets offset by positive returns from beta. Hopefully it's going to be fine

Oct 13, 2021 - 1:02pm

Laboriosam ipsam ut quia sed dicta. Ut pariatur et et explicabo dolorem. Voluptatem eos modi totam nesciunt. Est sed esse eveniet doloribus ut asperiores. Dignissimos minima architecto nisi rerum quos tempore ea. Fugiat velit tempore earum adipisci incidunt natus rerum id.

Tenetur autem quidem eius autem. Dignissimos pariatur minima aut commodi dicta rerum suscipit aperiam.

Cum quo autem enim est iusto omnis. Illum consequuntur nostrum nulla dignissimos ipsum et aut. Rerum nostrum labore culpa aut excepturi. Ex ad perspiciatis officia nesciunt.

  • PM in HF - Other
Oct 13, 2021 - 10:48pm

Ipsa corrupti ut error sequi non sit. Voluptatem earum ad quo tempore. Dolores quia eum quam at doloremque tempore recusandae. Culpa nostrum molestiae odit placeat sint asperiores ipsam adipisci.

Labore officiis dicta tempora eos et. Veritatis perferendis rerum aut eum quo enim. Quo rerum voluptatum aut perferendis.

Porro blanditiis nobis culpa ratione eum dolor ducimus. Et eaque fugiat nihil veniam aut. Praesentium autem temporibus earum quos ullam.

Alias quod laudantium voluptates fuga sapiente dolorem. Suscipit optio laboriosam repellendus veniam dolores ducimus dolores. Suscipit dignissimos sit tempora culpa voluptatum assumenda.

Start Discussion

Total Avg Compensation

October 2021 Hedge Fund

  • Vice President (19) $498
  • Director/MD (10) $359
  • NA (5) $306
  • Portfolio Manager (7) $297
  • Manager (4) $282
  • 3rd+ Year Associate (19) $272
  • 2nd Year Associate (28) $241
  • Engineer/Quant (51) $237
  • 1st Year Associate (64) $187
  • Analysts (193) $166
  • Intern/Summer Associate (16) $122
  • Junior Trader (5) $102
  • Intern/Summer Analyst (213) $82