STREET DOGS: Translating sales jargon of asset managers’ fund pitches
“Investors who hire asset managers to run their institutions’ money take thousands of meetings throughout their careers, often hearing out multiple fund pitches in a single day. And they pick up patterns,” says Leanna Orr at Institutional Investor.
“With annual investor letters, for example, the longer they are, the worse the performance tends to be. Holiday gifts likewise inversely correlate with alpha. Receive a bottle of vintage single malt Scotch from a hedge fund portfolio manager who usually just sends a card? Uh-oh.” ..