We have a truly special guest speaker announcement for our invite-only series coming next week.
There are very few people I can think of who can teach us more about fundamental long/short investing across the entire spectrum of the toolkit. It’s someone I have followed closely for a long time - the crème de la crème, operating at the absolute top of the game. Can’t wait to share more next week.
For those of you who have been here from the beginning, the series started with Mt. Rushmore:
You may have heard whispers about the small percentage of PMs who have achieved true longevity and success in the multi-manager space - those who have delivered sustained outperformance over a very long period of time or those who have consistently managed [market-neutral] multi-billion-dollar books successfully. This series will be dedicated to them.
This has evolved over time. We learn from people at the frontier, doing it at the highest level, often investors you can’t really hear from anywhere else. They are exactly who we want to learn from, not the ones most eager to be public.
We also have two junior Phoenix members who have secured seats at arguably two of the best-performing and most sought-after teams at large multi-managers. It was great to hear directly from them acknowledging the role Phoenix played in the process. We congratulate them and are proud to have them as part of our community.
For anyone interested in long/short equity roles, make sure to fill out or update your information in Inside Track. We have seen an increase in opportunities and while we are not a recruiter, we try to make introductions within our network where we can be helpful. If you are looking for talent, feel free to reach out.
Lastly, there are many must-read posts from 2026 so far across different categories:
Foundational Deep Dives in Multi-Manager Investment Process
Idea Generation: Seeking Variance in the Multi-Manager World
Top PMs Investment Process Deep Dives
Advanced Modeling
Alternative Data.
They are all linked in our new 2026 repository here. We have a lot more to cover in the coming months.
I highly recommend going through them. If you are catching up, these are the pieces I would start with:
Foundational Deep Dives: Seeking Variance
The Long/Short Process at Top HFs (Citadel, Millennium, Balyasny)
Idea Generation, Modeling, Thematic Exposures, Macro, AI/Consumer
Factor Loadings, Factor Returns, Attribution, Different Levels of Neutrality
L/S Consumer & TMT: How Top PMs Trade the Sectors
Evolution of Market Structure, Alpha Generation, Investment Styles
The Hidden Art of Finding Variant Views
The Process Used by the Best Long/Short Portfolio Managers: HIMS Example
Lessons from a Top Citadel and Point72 PM
A true masterclass in low-net, factor-aware long/short investing: Expected Value Risk/Reward, Dislocations, Unique Use of Factors, Crowding.
Can’t wait for this!!!!