The Not-So-Much War

June 17, 2019 | Rusty Guinn | No Comments |

Hedge funds and private-equity funds face tug-of-war over talent [Business Insider]

This blurb is from a BI daily round-up piece – if you’re a BI subscriber (LOL) you can access the full bit from the link.

The long and short of it is this: calling the fight between PE/VC and Hedge Funds over talent in 2019 a ‘tug-of-war’ is like calling the USWNT group stage match against Thailand last week riveting sports entertainment. I’ve been asked for advice from a lot of soon-to-be-alumni from my own alma mater over the last few years. I’ve done quite a few interviews of prospective students, too. It has been years – legitimately years – since I’ve heard the words “banking” or “hedge fund” in any of those conversations.

Public markets active management professionals are fighting a valiant rearguard action in Narrative space (as they are in AUM space), but it’s a sure loser; that is, until the next liquidity crunch coincides with actual marks-to-market that remind us all what some of those ’06 vintage buyout or early 2000s VC funds looked and felt like.

I wouldn’t hold my breath. We’ll get our adversely selected candidate pools and like it.

Start the discussion at the Epsilon Theory Forum

The Daily Zeitgeist

ET Zeitgeist: Raccoons Never Sleep

By Ben Hunt | May 28, 2021 | 5 Comments

Lemonade (LMND) isn’t just an insurance company. No, no … they’re an AI Company! ™.

Plus Chamath is up to his old tricks.

I hate raccoons.

Inflation as Ad Campaign

By Ben Hunt | May 24, 2021 | 0 Comments

An ET Pack member sent me this. Anyone else come across ads that directly call out inflation expectations? Would love to collect more screenshots like…

Many People Are Saying … Bitcoin is Art

By Ben Hunt | May 24, 2021 | 0 Comments

The Bitcoin Is Art thesis that I put out back in 2015 (The Effete Rebellion of Bitcoin) and recently put forward again (In Praise of…

Big Tech Has Lost Control of Its Cartoon

By Ben Hunt | June 11, 2019 | 1 Comment

There are two narrative structures that have grown to a size and a level of cohesion that makes them impossible to be politically ignored.

One is the student loan “crisis”. The other is the Big Tech “monopoly”.

And yes, I’m putting those words in air-quotes, because the first isn’t really a crisis and the second isn’t really a monopoly. But since when did that matter in narrative-world?

Vanguard Doesn’t Care About Your Trade War

By Ben Hunt | June 11, 2019 | 0 Comments

Vanguard just announced a joint venture with Ant Financial in Shanghai. They’re not waiting around for a trade “deal”, and they’re not clutching their pearls about Chinese IP “theft”.

No, Vanguard is going to do what they always do … they’re going to obliterate their competition with the pricing power that comes from government collaboration.

Are You Now, or Have You Ever Been Pro-China?

By Ben Hunt | June 10, 2019 | 2 Comments

Bannon and the rest of the America First brigade (which includes a LOT of bedfellows you see all the time on CNBC, like Kyle Bass) are going full-McCarthy. They’re going to have a “list”. They’re going to accuse anyone and everyone of “treason”.

It’s part and parcel of the China narrative transformation that Rusty and I have been talking about for a month now: the US-China narrative is now a national security narrative, not an economic trade narrative, and you can’t walk that narrative back until after the 2020 election.

Load More
DISCLOSURES

This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results.

Statements in this communication are forward-looking statements. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. Epsilon Theory disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein. This information is neither an offer to sell nor a solicitation of any offer to buy any securities. This commentary has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Epsilon Theory recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.