HF Mindset and Psychology

Hey everyone. I'm a Non-target senior who has an internship in ER at a MM bank this summer. Eventually my goal is to make it into the buy side and a lot of my self-learning has been directed toward that. I was wondering how do you step away from straight-lined Investment philosophy and thought processes and gear toward thinking outside of the box thinking, using alternative data, etc.

Did you train your mindset to think this way? Was it from mentorship? Pure experience in the industry? And how should I go about shifting mindset to more abstract thinking? Any good book recommendations or podcasts on this stuff? Thanks.

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Comments (10)

  • Prospect in IB - Gen
May 10, 2021 - 8:20am

Buffet and Munger's investing strategies are outdated. Value investing is dead. The only thing that still applies relates to character.

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May 10, 2021 - 9:22pm

Dude you know as well as I do that is relevant to long-only mindset at best.

For the hedge fund mindset, go read When the Wolves Bite, about Icahn and Ackman and their battle over Herbalife. Two Masters of the Universe, battling it out over diametrically opposed high conviction ideas and huge egos... Also, there a few fictional books that get it right too. DM me OP if interested

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May 10, 2021 - 11:02pm

Can't help it, that's the direction I wanna go ;)

I do have my copy of When the Wolves Bite that they gave at at the Sohn conference. 

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

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