Capital Allocators – Inside the Institutional Investment Industry Top 5 of 2024: #4: Ricky Sandler - EP.414
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Dec 31, 2024 Join Ricky Sandler, CEO and chief investment officer at Eminence Capital, as he shares insights from his 30-year journey in long-short equity investing. He discusses the evolution of investment strategies amidst changing market dynamics and the importance of firm culture. Ricky emphasizes the blend of quantitative analysis with fundamental research and illustrates how adaptive thinking can lead to success. He also reflects on parenting philosophies, personal growth, and the balance between competition and well-being, all while navigating a dynamic financial landscape.
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Early Short Selling
- Ricky Sandler's early short-selling approach was less rigorous, focusing on overvalued lookalikes.
- The 1998 Russian debt crisis exposed vulnerabilities, leading to a more proactive short strategy.
Partnership Challenges
- Co-equal partnerships in hedge funds are difficult due to strong personalities and differing investment approaches.
- These partnerships often involve two stock pickers or a business person and a stock picker, both with inherent challenges.
Eminence's Foundation
- Ricky Sandler aimed to build a classic long-short equity model with a focus on single-stock shorts.
- He prioritized a collaborative culture, treating employees well, unlike the prevalent "pressure-cooker" environment.