Steve Cohen’s top lieutenant on training good portfolio managers, reinventing the culture at SAC Capital (the real-life “Billions”) and how hedge funds can create more alpha in volatile markets w/ Perry Boyle
Decoded with Ryan Pallotta
Portfolio Managers Aren't Good People Managers
SAC is a high turnover shop, both of stocks and of people. People turnover was approaching 50% a year. So how do you grow an organization with 50% people turnover a year? It doesn't work very well. And what I figured out pretty quickly is that portfolio managers are necessarily good people managers. After about a year it was pretty clear that we're getting a lot higher quality analysts.
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