As many of you are all too aware, hedge fund managers are not known for being particularly warm and cuddling with their employees. They may very well be kind, reasonable people outside the office, but within the confines of the trading floor, it is of little import to them if they come off like people on the Humane Society’s most-wanted list (and some see such distinctions as a badge of pride).
A standard question posed at portfolio managers who can’t answer Steve Cohen fast enough about a stock is, “Do you even know how to do this f*cking job?“. Ray Dalio refers to employees who don’t tell their colleagues “you suck” to their face as “slimy weasels.” In an article about how he rips traders to shreds for not being up on an extremely minor detail of an investment, it’s pointed out Paul “Second Coming of Mother Theresa” Singer “doesn’t throw things.” Louis Bacon takes the other side of subordinates’ trades.
Still, we were yet to hear of a firm where the boss has asked people 1) if they’re willing to die for him and 2) if someone would find a storage facility for his dog’s semen. Until now. Read more »