In the 1970s, deep inside Goldman Sachs’ trading floor, a quiet revolution was taking place. It didn’t come from flashy IPOs or headline-grabbing deals, but from a small, intense corner of the firm known as the Risk Arbitrage Department — led by a former lawyer named Robert Rubin. Rubin wasn’
Fund Intelligence
Fund Intelligence
Biotech investing has a reputation for being exciting — and brutal. The upside is obvious: one big drug approval can send a stock up 50–100% in a single day. But the path there is littered with failure. Roughly 90% of drugs that enter clinical testing never make it to market.
Fund Intelligence
In tech, people like to highlight “ex-Google” or “ex-Meta.” The buy-side works the same way. If you want to understand a fund, look at where the key person (the founders and the Director of Research, sometimes that’s the same person) came from. That usually gets you 80–90% of
Fund Intelligence
Hedge funds fail all the time, yet they often slip beneath the radar of public awareness. It's only the colossal failures that grab the headlines. This is precisely the reason why deeply understanding what you are signing up for is paramount in building a long-term career in public
This idea occurred to me during one of my “wisdom walks”: Why not apply the 7 Power framework to the hedge fund industry? In this article, I will discuss how a hedge fund can successfully build moats in this ultra-competitive and fragile sector and what paths a start-up hedge fund
What is a multi-manager? A multi-manager ("MM") hedge fund is an investment firm consisting of many portfolio managers (PMs) managing portfolios autonomously. Each portfolio is referred to as a "pod", where PMs have complete discretion on how to construct their portfolio and have minimal interaction with
Before the proliferation of podcasts, hedge funds operated under a veil of secrecy. However, Coatue Management's insights into technology, media, and telecommunications (TMT) investing have been accessible for a long time thanks to Philippe Laffont and Chief Marketing Officer David Scully's teaching roles at MIT, Philippe’
Summary: 1. The first two morning presenters pitched Canadian companies, and the third presenter was Canadian. This could be coincidental, but it might tell you something about the valuation of the current U.S. equity market. 2. Two presenters pitched the same long idea within the aircraft parts industry. Looks
Ever wondered what really goes on behind the scenes at hedge funds? From the power plays of capital allocation to the high-stakes drama of co-founder clashes, whispers of insider trading, the cutthroat world of fund management, and the reasons top talent walk away—get ready for some eye-opening insights!
In this article, we will learn about Polen Focused Growth Strategy, a long-only mutual fund that specializes in wide moat growth investing. We will dive into the investment team and their process, the characteristics they look for in an investment, their portfolio management philosophy, and a case study on how
In the heart of Columbus, Ohio, lies Diamond Hill Capital Management, a mutual fund company with over two decades of history, rooted in the philosophy of long-term value investing. The story began with Ric Dillon, Diamond Hill’s founder. Before founding Diamond Hill, Ric had already made a significant impact