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
How Do You Grow Your Own Talent at SAC Capital?
I was profoundly influenced by a book called Chasing Stars by a Harvard Business School professor named Boris Groisberg. He talked about the sell side equity research departments and how the ones that grew their own talent tended to perform better than the ones who hired laterally from the other shops. So, growing your own talent I think is a much better way in organizations that are really human talent driven. If you can really invest in identifying recruits early, you can get a better ballplayer at a lower cost than you can if you recruit from another team,.
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