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HF Reflections
@hfreflection
L/S PM at Fund redacted by Compliance.
Ny, ny
Joined October 2011
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    HF Reflections
    @hfreflection
    Dec 31, 2025
    An old collection of threads. I’m running out of new things to say and this platform is very ephemeral, so figured I’d post / pin this as a somewhat dated but probably pretty good guide to my historical threads around time of fund launch.
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    Liger Cub
    @realLigerCub
    Jan 16, 2024
    FINTWIT THREADS 🧵| @hfreflection (ERRATA CORRIGE) Kudos to those accts generously sharing their wisdom. Let's spread that knowledge with all the threads from a L/S PM who just started out solo. • Part 2: KNOW THYSELF: x.com/hfreflection/s… • PART 3: ESCAPE VELOCITY:
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    HF Reflections
    @hfreflection
    Mar 13, 2025
    TRAITS OF A GOOD ANALYST (1/2) Over the past several years I’ve had 6 analysts who at some point reported me, and have interacted with countless more.  These are the traits I’ve found to be most correlated with long term success. They probably aren’t what you think. A 🧵 What I
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    HF Reflections
    @hfreflection
    Nov 14, 2022
    WHY GOOD FUNDS FAIL I’m paranoid our fund will fail, since this is the typical HF ending. So I’ve tried to observe why good funds fail. Most ppl study investors individually, not funds collectively - and failure is usually collective . Some observations / hypotheses - a 🧵:
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    HF Reflections
    @hfreflection
    Mar 1, 2025
    As an investor, I hate the current political environment. It’s hard to invest when you don’t know the rules (eg tarriffs, DOGE). But I hate it even more as an American. Buying my first flag ever today to put in our window - it’s a Ukrainian one.
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    HF Reflections
    @hfreflection
    Feb 11, 2023
    PART 19: THE PM JOB Where does the analyst job end and the PM job begin? Defining Analyst vs PM responsibility helps create a more consistent investment process and better outcomes. Many conflicts and mistakes stem from a lack of clear delineation. A 🧵:
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    HF Reflections
    @hfreflection
    Jul 18, 2024
    My first job was as a mgmt consultant - my bosses told me we were smart and could solve problems their industry couldn’t, even though we were 22. I quickly learned that the people in the business knew a lot more than I ever would, and the only chance I had was to listen to and
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    HF Reflections
    @hfreflection
    Feb 5, 2023
    A hedge fund is a business, but HF founders often view the business side of HFs and their customers as beneath them. I find it ironic a profession focused on evaluating businesses spends so little time and effort studying its own industry for lessons about how to do better.
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    HF Reflections
    @hfreflection
    Dec 10, 2022
    ALLOCATORS: PART 1 I have been grilled by many existing and potential LPs of our fund. Here is a compendium of my favorite, most insightful questions and other observations that I hope can be useful for people trying to choose strangers to manage their money. A 🧵:
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    HF Reflections
    @hfreflection
    Oct 6, 2025
    Global $450M small cap L/S, generalist firm hiring an analyst, will report to PM & Senior Analyst. Ideal candidate has <4yrs work experience, VIC member or substack author, demonstrated passion for public markets, curious, eager to learn. Please send to [email protected]
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    HF Reflections
    @hfreflection
    Dec 26, 2022
    PART 15 - HF NETWORKING I am an introvert in all respects except for stocks. Having the ability to network and form genuine relationships with talented ppl at funds and allocators is the best career protection, and the main way to maximize likelihood of career success. A 🧵:
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    HF Reflections
    @hfreflection
    Sep 11, 2022
    PART 6: EDGE Most L/S generalist equity funds are similar - lowest barrier to entry strat with innumerable, invisible differences from outside. Many small, good decisions have to be made to generate alpha. Here are some we made that worked for us:
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    HF Reflections
    @hfreflection
    Dec 7, 2022
    PART 14: SELLING Most investors like research, not selling. But working at a HF is also a sales job - as an analyst you sell yourself, your ideas, and your research to your PM. As a PM, you more literally sell yourself and team to LPs. Some thoughts on effective selling, a 🧵:
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    HF Reflections
    @hfreflection
    Feb 26, 2023
    PART 21: The No-Catalyst Catalyst Many investors are uncomfortable investing without an obvious catalyst - usually something good that will happen that will make the stock go up soon. I think these are overvalued. Let’s discuss the benefits of “no-catalyst” investing. A 🧵:
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    HF Reflections
    @hfreflection
    Jul 4, 2024
    BUILDING A HF LPs WILL LOVE I’ve had many conversations and formed many opinions about what LPs care about. Not all LPs are the same, but many of the good ones have a lot in common. A 🧵with some takeaways on our experience building a L/S HF: CHECK ALL THE BOXES Allocators
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