EP029: War & Markets | How a Former Sr. Millennium PM invests in Equities

Ep. 29: War & Markets | How a Former Sr. Millennium PM Invests in EquitiesIn this episode, Doug joins Hyun Hong of The Investment Memo to break down how a buy-side investor is navigating today’s market backdrop.Doug shares how he thinks about building a variant view, managing risk in uncertain macro environments, and what’s actually driving the current conversation around oil, war, and recession risk.The conversation also dives into the evolving hedge fund landscape — from pod shop fatigue and talent migration to how analysts and PMs are adapting their process in a world increasingly dominated by macro volatility.Chapters:[00:00] Intro[01:05] Career Path to a Hedge Fund PM[04:39] What is your Variant View[06:05] Pod shop Exhaustion? Talent retention & exodus[07:01] Hedge Fund SMAs[07:15] Fundamental Equities L/S Analyst[12:33] War & Oil & Recession[15:00] oil here for higher & longer? what then?[18:52] So how do you hedge?To be continued in Part 2…📩 Subscribe to the Pitch the PM newsletter to get the deeper investment framework, key metrics investors should track, and Doug’s structured checklist for evaluating the idea.https://pitchthepm.substack.com/💡 Presented by AlphaSenseFree trial access: https://www.alpha-sense.com/Pitch/This episode is for informational purposes only and does not constitute investment advice. See full disclosures at: https://www.pitchthepm.com/disclaimerThis episode originally appeared on The Investment Memo and is redistributed with permission.