Humbled that anyone would ask me for career guidance but since a few of you have DM'ed me on "advice for a HF newcomer", some thoughts below. Note: Based on 10+ yrs total experience at LT oriented funds & a market neutral pod but will try to make this relevant to both settings.

1) Take ownership from Day 1 on process/ideas. Look at as many diff ideas as you can quickly. Build "reps" so you know what excites you & where to go deep. Best PMs are good analysts themselves & have a lot going on so won't micromanage - build intuition from your own curiosity.

2) Know your numbers. Many funds these days rely too much on thematic work & neglect why an idea is actionable from a #'s standpoint ("why now"). Result: stocks go sideways/down - even w/ LT horizon, no PM likes losing $. Don't hide behind long-termism to shirk accountability.

3) Network aggressively. Not just bc you want to share ideas (beware groupthink) but building thought leadership yourself is helpful to your own brand/career path. I never used recruiters & got jobs only bc my peers vouched for my expertise covering certain industries well.

4) Humility is underrated. "Knowing more than other outsiders" is common fund mktg phrase but a dangerous assumption. Be paranoid & honest about not knowing. Saying "I don't know but am looking into it" when a stock moves a lot suddenly is never a bad idea when uncertain.

5) Find great mentors. Many promising candidates take the first HF job they can get w/o underwriting their PM/team rigorously. Does not end well. Find someone who views you as an investment - @humankarp has some good thoughts re: duration/optionality of human capital.

Summing up: the above is really all about building high degrees of competence & trust as points of personal leverage. Knowing your stuff + being trustworthy --> Associating w/ other smart & trustworthy people --> Knowing more stuff & building more trust. Compounding at work!