View on Jack Woodruff's Candlestick Capital

I recently heard some chatters about this $5-6B consumer focused fund spun out of Citadel - Jack was the PM managing the largest pod? Anyone has more color here? What do people think of them?

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Comments (22)

Nov 18, 2021 - 3:32pm

Should have similarities with Melvin given he worked for Gabe. 

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  • Investment Analyst in HF - EquityHedge
Nov 18, 2021 - 5:26pm

They perform well, people are smart, and they operate verticalized - meaning that even though its multi-PM you're (theoretically) not going to be stepping on anybody elses toes by competing for capital within the same sectors. Seems like a great place to learn but - and I might get some shit for this - you're gonna have to think about what kind of work-life balance you want because these guys work 6 days a week (they have a saying, "sundays are the new mondays").

  • Investment Analyst in HF - EquityHedge
Nov 18, 2021 - 6:09pm

Yea honestly it seems a little excessive to me. Just bc I think often these conversations devolve into just the sigma grindset mentality - badge of pride for giving up your life. Ultimately a very personal decision to make but personally working 6/7 days a week was just horrible for my mental health, so just wanna make sure ppl know this going in.

  • Intern in S&T - Comm
Nov 18, 2021 - 6:24pm

do you have any idea if Holocene is run in a similar manner since they both spun off from citadel?

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  • Prospect in IB-M&A
Nov 18, 2021 - 7:53pm

They had 40% return last year and was the top team at Citadel for 7+ years. Not sure what else you'd need to know. They are a SM now with big book / sector books, not a pod shop. Just like how Melvin is run. Holocene is the same way, I think. 

Fwiw, you do need to put in the hours to get that return so it's up to what you are looking for.

  • Associate 2 in PE - LBOs
Nov 18, 2021 - 10:07pm

Tiger/ whale rock?

please don't respond with "tHeYre JuSt LeVeReD to ThE GrOwTh FaCtOr and the only way to make $ is to have 5000 line models that are myopic and have no bearing on anything" that is just a sign that you're ngmi

Nov 18, 2021 - 11:26pm

Returns between tiger cubs and mkt neutral pod shops are not really comparable, considering factor/mkt exposure.

Yes, tiger cub likely much better seat in terms of comp and lifestyle. And their strats are likely much more interesting to someone focused on investing in biz rather than trading situations. But also much harder to get into, some arent necessarily chill (ie coatue), and at the end of the day they are not the "investment gods" everyone makes them out to be. What the factor/mkt neutral shops is much more interesting in terms of alpha generation, and it's clear that allocators know this too when they pay 5%/50% to invest in MM's

  • Research Analyst in HF - Other
Nov 19, 2021 - 10:04am

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