MM vs Single Manager

I've been told to avoidMMin my career if I ever want to go to another Single Manager fund in the future. An opportunity has come up to join the L/S pod at aMMthat appears to be doing the exact same type of work I am doing now at a Single Manager. Can any of the more experienced members shed light on issues with joiningMMand the truthfulness of the statement that I will no longer get Single Manager looks once I move over to theMMside?

Comments (8)

  • InterninAM - Equities
3mo

interesting you ask this whenMMs现在唯一的基金。老虎是我me now. Archegos almost caused Lehman 2.0,Tiger Global got theirdick caught in tech + chinese stocks + now FTX, i believe D1's biggest holdings were AMZN and RIVN,Coatue's biggest holdings were TSLA and RIVN, another tiger cub's biggest holding was META. I could go on and on. Across the board, tiger cub portfolios are down 40% in a single year and peakAUMis down to 20-25%. No, i don't mean down 20-25%. Down TO 20-25%.

At this point, I would be more concerned that if you worked at a tiger cub, you would be shut out from lateraling to anMM.

  • Research AssociateinHF - EquityHedge
3mo

The sour grapes is strong with this one

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  • InterninAM - Equities
3mo

yes. it is insanely satisfying to see a group of "elite" investors get their ass clapped for having a portfolio that resembles a 19-year-old Wallstreetbets trader

  • 15
  • Analyst 2inHF - EquityHedge
3mo

Don't think they're exclusively asking about tiger cubs. Yeah they were great and now they probably won't be going forward; that's to be expected. The game is literally evolve or die - the era of that type of investing is probably over and those seats aren't going to be as highly sought after going forwards. Times change.

Think Brett Craughn has an interesting thread about this:https://twitter.com/FundamentEdge/status/1570836143146668034

Moving to an SM from anMMis only going to get easier - especially as the alpha harvesting culture fromMMsbecomes more useful going forward. Granted this will still be up to how much the individual can adjust their process to a different investment philosophy.

3mo
hominem, what's your opinion? Comment below:

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