Invest Like the Best with Patrick O'Shaughnessy

Dmitry Balyasny - Building a Better Model - [Invest Like the Best, EP. 274]

30 snips
Apr 26, 2022
Dmitry Balyasny, Managing Partner and CIO of Balyasny Asset Management, discusses his journey from a struggling broker to a hedge fund leader. He shares insights on building a multi-strategy firm that thrives in various market conditions. The conversation touches on risk management, team dynamics, and the significance of recruiting top talent. Dmitry emphasizes the need for streamlined structures in hedge fund operations and explores innovative financial modeling tools that enhance investment strategies. It's a fascinating dive into the world of asset management!
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ANECDOTE

Early Career and Mentorship

  • Dmitry Balyasny recounts going broke at 23, leading him to seek mentorship at Schoenfeld.
  • This experience shaped his belief in multi-manager models and his approach to building BAM.
INSIGHT

Hedge Fund Industry Consolidation

  • The hedge fund industry is consolidating, resembling the private equity model.
  • Successful platform hedge funds require a firm-over-fund mentality, focusing on the long-term.
INSIGHT

Capital Allocation and Risk Management

  • BAM allocates capital by strategy lines (equities, macro, etc.) with dedicated management teams.
  • Risk is managed through individual risk limits and continuous analysis for improvement.
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