I wanted to ping the WSO community and see if there are any users here that are analysts in the Tiger Cub network and would offer some insights.
I work for a L/S fund with a value focus and our analysts have very little interaction with other funds. We spend essentially all of our time in SEC filings, conference call transcripts, research reports, etc doing fundamental, bottoms up work. We are very value-oriented and will buy some businesses that I think are pretty shitty but they are so cheap and we size the bets appropriately. We buy growing businesses at less attractive prices as well but skew more towards that traditional value side.
There are a list of more GARPy stocks that I've followed for work or owned in my PA and I've noticed that when one Tiger fund buys it, several of them buy it eventually. I don't want to give any names away, but there is a company I own growing organically at 7-9% and doing very Accretive acquisitions every other quarter. One smaller Tiger cub initiated 12-18 months ago and has had it as a top holding. Q4 last year two other smaller Tiger funds came in at 3-4% positions for their fund. After Q1 of this year, the big guys came in (10bn+, think Viking, Lone Pine, Maverick, Blue Ridge etc).
For the guys that work at either the smaller Tiger funds or the large ones, how much interaction do you have within that network? Is it at the PM or analyst level? Lone Pine and Viking are literally right across the street from each other in Greenwich, is there a lot of back and forth?
I'm not commenting on the talent or ability of these funds. By and large I'm sure they are filled with very smart people. There are few truly original ideas in our business and there are other networks that are very close (ie the guys from Bob Rubin's desk at Goldman). It does seem though the "Tiger Network" can be its own catalyst and if somebody at one shop sources a really good idea, they all benefit.
If somebody has insights and doesn't feel comfortable posting here feel free to PM