Job Title: Hedge Fund Manager
Type of Company: I manage a portfolio of equity assets.
Education: BA, Economics, Harvard College MBA, University of Chicago
Previous Experience: I was chief investment officer of a family office. Before that I was a partner at a global management consulting company.
Job Tasks: I decide what stocks we will buy and sell. I read lots of market information and research reports, and decide which companies are going to perform better than expected and which will perform worse. I direct the work of 8 analysts who work for me who can do research to answer specific questions I have about a potential investment. Most of my day is either spent in meetings with my staff, talking to companies or reading investment research and reports. I also will construct models of how I expect companies to perform and decide what I think a company is worth based on different scenarios I construct. I have to carefully read published material, extracting information from those reports that I think is interesting and useful, and using that to do my analysis.
Today I spent the first two hours of the morning meeting with my staff, reviewing the things that they were thinking about investing in. I had two new staff members starting today, so I had to introduce them to their jobs and help them get started. I had a staff member who had received a job offer from another firm, so we talked about the pros and cons of that opportunity. I then spent most of the afternoon reviewing a detailed report an analyst had done of one investment to decide if we wanted to buy, sell or hold our position. I then finished the day reading several additional investment reports.
Best and Worst Parts of the Job: I get a lot of freedom and responsibility. It's my job to make good decisions, and in the stock market you get to see quickly whether those decisions are right or wrong. If I am right, I can make my investors and myself a lot of money.
1.) You should only do this job if you really love the stock market.
2.) You have to love learning about companies and industries and deciding which are going to succeed and fail and why
3.) You have to be very comfortable working with numbers and reading lots of jargon-filled reports to extract the tidbits of information that will be useful to you.
Additional Thoughts: I spent 20 years doing other things in business. If I had anything to do over again, I would have found a way to get into this career earlier. If you are passionate about the stock market, you should be working in investment management in one way or another.
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