The Long/Short Analyst Blueprint - As Taught at the Best Shops
Everything you need to know as an analyst.
What are the core topics that top funds and long/short PMs use to train their analysts today? What are the things every analyst should master in today’s market?
It’s a mix of what the best internal programs teach and what the most successful PMs expect.
Everything from understanding sentiment, positioning, catalysts and using alt data, management meetings, expert calls and building a scalable idea generation process to knowing your factor exposures, constructing a balanced portfolio and managing a position.
In this post, I give an overview of each topic, and this will serve us as a guide going forward. There has always been a big gap between what analysts learn and what actually matters in practice at the top funds. The analyst job has become quite commoditized, and while it’s not about knowing or doing the same things as everyone else, it’s important to have every tool in the box and over time build an investment style that’s uniquely yours.
Before we get into it, note that this newsletter will now be published on Fridays. We have two series going on: Zero-to-One on a Stock and Mt. Rushmore, which we will keep building on.
We also have a live session coming up with one of the best multi-manager PMs in the last two decades, who played an instrumental role in developing one of the large pod shops. If you are a Phoenix member, make sure to sign up and not miss it.
Let’s get straight into it.