Author Topic: Working for investing legends  (Read 4433 times)

tol1

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Re: Working for investing legends
« Reply #20 on: July 21, 2018, 02:47:04 AM »
Moving the discussion slightly back to the original question. The very few "superinvestors" whom I or my friends/colleagues have met seem to either work with their founding partners only or their initial start-up has evolved to a massive organisation. If one works for the latter, it will be challenging to work directly for the founder/s.

IMO it appears the only way is to "spot" future Klarman's (if there are any at all) - and that is rather speculation. I am just stuck to the notion that it would be most helpful if one worked for a strong, established investor prior to starting and scaling an own shop.

IMO it really depends on the person and the circumstances. There are people who do just fine by starting their own shop without working elsewhere. There are people who do fine starting their shop after working in corporate not-legendary offices. There are people who do great after working for legends. There are also people who don't do well in exact the same scenarios.

I don't want to psychoanalize - so please forgive me - but it looks like you're looking for others to say "yeah, you have to work for legend first". Yeah, sure working for legend first would open a lot of doors. But you have to realize that percentage-wise the number of people who get to work for legends is very low. So it's up to you to try to get a position with legendary investor, but likely you won't. There's only one Tracy Britt Cool in the last 30 years+ (Todd and Ted don't count - they went to work for Buffett after being successful investors not before). So IMO you're severely handicapping yourself if you think that working for a legend is the only way to get a good career/results/etc.

Edit: regarding spotting-future-Klarman - this is as hard as spotting-future-Klarman to invest with them. I think people already suggested to you to go to BRK/Fairfax/DJCO/BOMN/SYTE/whatever annual investor meetings and network with CoBF/etc/investor/hedge crowd there. This might give you opportunities. You might even corner Whitney Tilson or Mohnish Pabrai in one of these. Though I still think that discovering future Klarman ... and clicking with them enough so that they'll hire you ... is not going to be easy.

Good luck.

Point well made. I personally have noticed that working for a top tier hedge fund in a large corporate-like environment is not enough, but rather working directly for an experienced investor with the same investment philosophy and mindset. I think professional investors go through phases that start with finding the right investment strategy to finding the right working environment that enables to practice the very strategy - latter, as you rightly say, can come in many shapes and forms.