Hey guys, looking for some advice. I'm a junior PM at a fund in New York. I'm currently interviewing for firms like Millennium, Bluecrest etc which tend to be quite conservative on risk, because I think it's time for a job change. Up to now, my profile was looking quite good but this week I made a large loss that basically wiped out 1.5 years of accumulated P&L. The loss was related to an illiquid product that I was forced by management to size up on. When markets turned crazy, I couldn't get out so I hedged the best that I could. Nevertheless it cost me a lot.
I am wondering how these firms would take this kind of one-off loss. Also, is there any "excuse" I can give to account for it that recruiters would be likely to accept. This is the largest loss of my career and my P&L has otherwise been quite stable with minimal drawdowns. I am a conservative trader and I really learned my lesson on this.
Thank you for your advice. Good luck out there