Podcasts Business Investing Capital Allocators – Inside the Institutional Investment Industry Paul Enright Inside Long-Short Equity Investing (Capital Allocators, EP.266)

Paul Enright Inside Long-Short Equity Investing (Capital Allocators, EP.266)

Published: Aug. 15, 2022, 8 a.m.

b'

Paul Enright is a private investor managing his own capital under single family office, Krainos Capital. Paul opened Krainos after a dozen years at Viking Global Investors, the multi-billion dollar long-short equity hedge fund that also has been one of the most successful breeding grounds for talent in the industry. He has a deep understanding of intricacies of long-short equity investing and a knack for explaining it well.

Our conversation covers Paul\\u2019s career path to Viking, training while there, and advice to early-career investors. We dive into the distinction between business analysis and stock picking, and the importance of portfolio management to investment success. In the process, we discuss liquidity, shorting, portfolio rebalancing, incentive compensation, and market structure. We close with Paul\\u2019s approach to managing his own money and his answers to a terrific set of questions sourced from his Twitter feed before the show.

Learn More\\xa0
Follow Ted on Twitter at\\xa0@tseides\\xa0or\\xa0LinkedIn\\xa0
Subscribe to the\\xa0mailing list\\xa0
Access Transcript with\\xa0Premium Membership\\xa0

Show Notes

(3:11) Paul\\u2019s background\\xa0
(8:11) Training at Viking\\xa0
(10:02) Stock picking\\xa0
(12:18) Business analysis\\xa0
(19:54) Liquidity\\u2019s impact on valuation\\xa0
(24:03) Dynamic portfolio management\\xa0
(28:46) Rebalancing\\xa0
(32:03) Long/Short Dynamics\\xa0
(40:50) Compensation structures\\xa0
(43:11) Current market structure\\xa0
(50:29) Investment model as a family office\\xa0
(53:05) Thoughts on Twitter
(57:07) Growing skills as a young PM\\xa0
(58:57) Advice to PMs in tough times\\xa0
(1:01:48) Best questions to ask managers\\xa0
(1:03:11) Closing questions\\xa0

'