Just A Pod Guy

Thoughts forged by a career on wall street

[Just A Pod Guy @justapodguy]

@TMTLongShort Can you post the Colombian dentist or send me a dm with the info please?

[Just A Pod Guy @justapodguy]

@rich_toad I think as a junior working at a mega firm you get spoiled by the firehose of information and resources available to you. If you can learn to pick stocks without all those resources you will be a better analyst and pm in the future.

[Just A Pod Guy @justapodguy]

@CorneliaLake We are a long way from the prime of uncle Carl.

[Just A Pod Guy @justapodguy]

@QuantumInverse @TradingDutchman Yes some to all of your p&l gets added to your drawdown. But a lot of places it’s drawdown from peak to hit the risk stop so it’s not all additive. That said if they start you with 20 and you do well ie low vol consistent up they will probably just give you more capital.

[Just A Pod Guy @justapodguy]

@Divergent7651 Nothing. 8 hours of sleep and an hour of exercise in the morning before work.

[Just A Pod Guy @justapodguy]

You mean 50 mln p&l? Let’s try and keep it simple and say the 50 mln is p&l after all expenses - so cost of capital, research expenses, trading costs, personnel expenses - ie draw/health care/401k. At the big boy firms if you had a multi year track that’s going to likely be 20-30 percent payout depending on firm, accelerator for a couple years etc. At the smaller firms you are targeting it is likely 15-20 percent after expenses. Some firms pay lower but cover all those expenses so it isn’t apples to apples. But in your situation if you can get any seat it almost doesn’t matter the economics - you get back in the game put up 2 years of numbers and then get a really good deal somewhere.

[Just A Pod Guy @justapodguy]

@QuantumInverse @TradingDutchman Greenland, Cinctive, Crestline, LHR, NorthRock are good places to start. Greenland is incubator fund and the others are all small enough that if you are persistent you should get BD or CIO on the phone.

[Just A Pod Guy @justapodguy]

@QuantumInverse @TradingDutchman Places are super desperate for talent but I would say unlikely any of the really big shops would do it. But smaller places that can’t compete for the big track record pm teams or an incubator like Greenland Capital or even family office types would probably be a good start.

[Just A Pod Guy @justapodguy]

@QuantumInverse @TradingDutchman With how much prior professional experience or is this just trading PA? And what is the capital under the strategy you would be showing?

[Just A Pod Guy @justapodguy]

@QuantumInverse @TradingDutchman Multistrats do a lot in stat arb. It comes down to track record, drawdowns, and correlations to other teams places already have.

[Just A Pod Guy @justapodguy]

Today the risk rules are pretty much the same at all the multi-strats - I have friends at all of them - yes there are some differences but for the non pod shop person saying they are the same is close enough. Every shop looks at leverage differently but yeah 5 percent on GMV is probably 25 percent before fees. Most headhunters will tell you that if you can show 3 years of $50 mln pnl that you will land multiple offers with very strong economics.

[Just A Pod Guy @justapodguy]

@absreturnchaser $HON is a good idea imo. Spins take some time to work but have been fertile hunting ground the past year.

[Just A Pod Guy @justapodguy]

@AgonInvestments @absreturnchaser Institutions always sell and remember Barry already owns a large chunk of mgm through people. Chance you get an interloper and/or a small kiss from Barry. I hear you on sotp but people aren’t paying for that stuff until it is open.