Hey guys, wanted to ask what your thoughts on Graham Capital Management are. How is the culture/talent there and what does comp and upward mobility look like?
Performance hasn't really been good and the AUM halved in the last couple years, is it worth taking a spot there out of undergrad? What do exit opps look like? Given their performance, is it even a good place to build a foundation?
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Hi Intern in HF - RelVal, the silence is deafening, sorry about that.... Any of the threads below helpful?
More suggestions...
Fingers crossed that one of those helps you.
Bump.
I knew a fair bit about them back in the day. Guy who started it originally did very simple trend following / momentum programs in the very early days and got seeded by Paul Tudor Jones. Then he started bringing on PMs to run global macro discretionary. On one side you have a handful of PMs who run their own strategies doing the classic global macro discretionary calls, and the other side is the straight quant (which I am less familiar with). I think a significant portion of the quant is still trend following / momentum based. They have very sharp guys, and the culture is very "relaxed" but still serious/ make sure you perform. The office in rowayton CT is gorgeous and they have a cafeteria and gym on site, one of the big swinging dick PMs will wear jeans and a tshirt to the office (but hes the rockstar). On the other side, I know they will bounce the discretionary PMs for drawdowns relatively quickly if they aren't performing so you have some MMHF vibe there. Probably a solid spot to work, but the generosity in comp only comes from those who have been with the firm for a while and really perform strongly.
Can't really speak to their reputation on the quant side and for exits, but I would assume a very solid place to start one's career (just recognize you'll be out in CT and its slightly further away than greenwich).
Wow I didn't realize they had a medieval mansion as their office and with those kind of facilities. Those PMs are living the dream...
Can confirm it’s badass
It’s a very solid shop.
The firm has trend following roots. But has diversified significantly since, and is probably one of the top 3 funds in a “quantamental” style of macro.
On the discretionary side, they have a relaxed culture. “No assh*les” comes up often. And people there are really really kind, including that dude in jeans and T-shirt who is one of the best macro traders. They really are some of the the kindest people in macro. They are a multi manager, so it is performance based. But they have wider stops than other typical multi managers, and ramp up capital quickly. They’re also more humanistic instead of purely formulaic when cutting capital/ people. They do have empathy.
the campus looks great, food is decent (most people say it’s good, but I have my own preference), and the gym facilities are good. But for a multi manager, the culture is as collaborative as it can be. Discretionary folks can bounce ideas with the systematic people downstairs. And PMs do talk to each other and discuss markets.
They’ve also been killing it the last few years. The 2010s were brutal for macro, but now is a great time to be in the game.
Who’s the t shirt and jeans PM? Curious on his approach
His style can't be replicated.
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