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The Single Hardest Position to Hire for a Money Management Firm
Hiring for research positions in money management firms is exceptionally challenging due to the lack of quantifiable track records and extensive bodies of work among candidates. Instead of relying on conventional hiring processes like headhunters or on pedigree, successful hiring focuses on unique talent from diverse backgrounds, emphasizing personal characteristics over traditional qualifications. The ideal candidates exhibit three key traits: they are hungry and passionate about investing, possess humility to acknowledge their limitations, and demonstrate smartness that transcends book knowledge, leaning instead on practical insights and intuition about the market. This approach fosters a strong cultural fit and promotes a team dynamic that thrives under pressure, ensuring resilience during challenging periods in the investment landscape.