Build an Investment Dream Team
Similar to the '96 Bulls or '92 Olympic basketball team, if you had to assemble a list of investment managers/top analysts who have had a consistent track record. Prefer investors past 1980's.
Bonus points if you have interacted with someone on your list irl and know if they would/wouldn't be a good team player (being an asshole, egotistical about stock ideas, etc).
5 IU Kelley students & 1 rutgers kid
bump
I think about this a lot. I've been in this business for a decent amount of time, and I have my list of guys I have a tremendous amount of respect for. Some of them aren't "name brand", some are, but all are brilliant guys, the kind that if you stripped them of all their $$, they would find a way to get back. So let's break it down this way -- in basketball, we have PG SG SF PF C, so for this let's call it Event Driven, 2 L/S (2 for sake of commonality of the strategy), Distressed, and PE. In no order, here's my lineup
Event Driven: Dan Och, Tom Sandell, Eric Mindich
L/S: Stephen Mandel, Chris Hohn, Dan Sundheim, Ricky Sandler
L/S Part 2: Joel Greenblatt, Chase Coleman, David Goel, Dinakar Singh
Distressed: David Tepper, John Zito, Jeff Altman
Private Equity: Marc Rowan, Josh Harris, Leon Black
Lol PE, but yes, APO all the way. And yes I know some are not textbook definition of L/S, but just call it "equities". I don't know much about macro, and I'm not interested in talking abt macro lol, so I swapped it with PE. No offense to the macro folks. And do not say "Oh gee Mandel and Coleman suck, they're just long tech short retail". Wrong. Replicate their performance over 2 decades, manage $30bn+ while trading in and out of names monthly and still put up serious #s, then come back to me. Some of these guys may have hit a rough patch in past few years, or may not even work in the industry anymore. But it doesn't matter. They're still incredible investors. I work for one of the guys on this list -- by far the most brilliant investor I have ever interacted with. Not disclosing anything lol. Now imagine what would happen if you gave this team like a few billion to play with and told them "have fun" (assuming zero other responsibilities other than just investing), with no analysts...jeez
There are a handful of guys running like $500mm-2bn shops that I would put on this list, or even PMs / Partners at some of the funds on this list that I would put on this list, but that's more anecdotal and I'm not sharing that, plus majority would have never heard of them
+1 for the thoughtfulness. what about mindich and sandler is impressive? from what i know, the former shut down due to losses/inability to perform and the latter's returns are meh.
Would you say the "brilliant investor" you work for would be a good team player?
for any team, I'd have concerns about how the team would mesh, if 2 alpha dogs have a political showdown, then the entire team is moot
Remember: if Isiah Thomas would have been on the dream team, the entire thing might have fallen apart
No Davidson, Kempner, or Tony Y for event driven?
I mean OP asked for a dream team which implies "pick the best"
mid single digit returns ain't gonna get you a spot on the dream team, chief
it's a crime that your distressed list doesn't have (at least) one of the MOUs from Elliott, Canyon, or Oaktree. Otherwise solid list.
No, it's not. To be frank, you don't even work in the HF space, let alone finance, and think name brand = best. When you start working and talking to people in this business, you'll learn that's just not the case. Elliott, Canyon, and Oaktree aren't bad investors, but they're not the best -- definitely not "dream team" caliber. Just because these guys show up in every bk / rx situation doesn't mean anything, in fact that's probably a negative, but it's necessary for them since they have so much $ under mgmt. Maybe 15-20 years ago I would put them on the list. But strategies, like mkts, evolve. I am not a credit guy, but it doesn't take a genius to see that distressed has gotten incredibly difficult post GFC. Those three funds haven't performed, at least on the pure distressed side. On the other hand, the other three have thrived. And I've met plenty of guys at all these shops -- I think the brightest shops are on this list.
My advice to you: I would stop caring about prestige and name brands. When I was your age (which wasn't too long ago, I'm still in my 20s...), the funds everyone was crazy about have gotten wrecked since then. I wouldn't make it my life goal to join one of the 3-4 funds everyone is obsessed with. Instead, if you truly think you are cut out for this business, I would try to find the best / brightest PM you can possibly find, learn from / work for him, and then time will tell. There are tons of funds that are 10% of the size of Pershing that people have tremendous amounts of respect for. Those guys print money.
So you work in Apollo's Credit group... John Zito's inclusion on this list is a dead giveaway plus your PE picks lol
no, but yes i may or may not have apo blood...as i said i'm not a credit guy lol. but zito is a great investor i've spoken to him
3000 multi manager pod analysts rotating in groups of 1000 for 8 hour shifts, grinding earnings models around the clock. returns 8pct to 20 pct every single year regardless of market conditions.
tepper
li lu
noebert lou
alex sacerdote
soros/rogers
druckenmiller
PTJ
paul singer
dan loeb
rick sandler
nick sleep
pierre andurand
mario gabelli
lou simpson
gabe plotkin
david einhorn
jim chanos
john paulson
raj rajaratnam
/s
Steve Cohen
David Tepper
Paul Tudor Jones
James Simons
Michael Platt(Since running his own money not before)
Gabriel Plotkin
George Soros
Brad Gerstner
All I can remember off top of my head
Cathie Wood anyone?
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