Other People's Money with Max Wiethe Why Hedge Fund Managers Must Adapt or Die | Kyle Mowery on The Future of Small Cap Value
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Jan 14, 2025 Kyle Mowery, Portfolio Manager and Founder of Grizzly Rock Capital, dives into the challenges facing hedge fund managers in today’s volatile market. He discusses how small/mid-cap value investors must adapt their strategies to keep pace with changing investor demands. Mowery emphasizes the importance of clear communication and setting realistic expectations. He also shares insights on the advantages of collaborating within a pod versus launching solo and outlines what he would do differently if starting Grizzly Rock today, highlighting the need for adaptability.
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Joining Pod Shops
- If your skills align with pod shops, join one instead of starting your own firm.
- Pod shops offer substantial profit potential, strong risk management, and quant teams.
Personal Relationships
- Fund documents are important, but personal relationships are the foundation of allocator relationships.
- This is especially true in the family office and high-net-worth communities.
Launching Small
- Kyle Mowery launched his fund with less than $1 million right after business school.
- He now advises against this, recommending a seed or anchor investor for better chances of success.