Hey guys, so I'm currently at a boutique asset manager w/ enough AUM scale that we can afford nearly all of the bells and whistles when it comes to the research process. For instance, we have SS research (including SS requests & analyst calls which cost $$$$$), databases like Mintel, expert networks like Third Bridge, and traveling to meet with management. And using these resources and some unconventional thinking, our performance has been in the top quartile. To be fair, our research budget is nothing like Millenniums (w/ hundreds of millions a year allocated for this stuff).
However, it's made me wonder, how would we have done if we didn't have these resources? If we were a smaller shop with much less scale and had to ration ourselves to virtually no SS requests, and very little expenses on high-priced databases like Mintel. So I was curious, what kind of resources do you fundamental equity guys use on a day to day basis, and how effectively does your shop generates alpha over the long term as a function of that? Do you feel you can maintain the same performance with less resources? What is the bare-bones that you think you need to beat the market over the long term?
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