| Topic Name: |
Hedge Fund-Dot coms of the 21st Century |
| Message Name: |
agree with you on the middle of the action |
| Date Posted: |
02/06/2002 |
| In Reply To: |
Yep, I did a study once a few years back looking at the betas of a large fraction of the Morningstar universe, including all growth, income, growth & income bullshit classification. The average beta against the S&P 500 was 1.01, with a tight range between 0.9 and 1.1 or so. Closet indexing it was.
Biz was very good last fall from October to December. A bit slower this time of year, but things likely to pick up soon.
A friend of mine in CA forwarded me an e-mail with an article you wrote about why one shouldn't be an investment banker. IB has its upsides, one of them being that you are really in the middle of the action.
Cheers,
Yabai |
| Message: |
On the buyside, you can get very isolated from the market, especially if you're not working out of NYC or Boston. You're working at the only firm in town, nobody you know has any understanding of what you do, you go into the office and spend your day reading SEC filings.........
Yeah, definitely, IB has many upsides. One of which is it exposes you to the biz FAST and trains you hard and quick. You go a lot slower if you start out on the buyside. It took me a long time to learn things (there just wasn't the pressure or even the people in my firm who knew anything).
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