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
Hedge Funds - Are You Always Hedged?
In a hedge fund, you're paying that as a management fee plus a percentage of the profits. So 2020 means I'm giving them 2% of my assets plus 20% of the performance every year they get to keep. Other hedge funds are zero, like totally market neutral. Were you guys always hedged or were you long short always? Long short always since I joined,. Over time, we discovered that we were definitely better at the alpha generation than we were at the market timing.
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