Inside $8.3 billion Balyasny's Anthem training program, where aspiring portfolio managers are handed hundreds of millions of dollars to prove they can cut it
Bill Wappler, the director of research at Balyasny Asset Management, leads the firm's training program, called Anthem, which turns senior analysts into PM's.Balyasny Asset Management runs a 12- to 24-month training program, called Anthem, designed to transform senior analysts into portfolio managers.
Run by Bill Wappler, the program — named after an Ayn Rand book — can run for anywhere from 12 months to two years. Only a select few participants have made the cut so far. Current PMs-in-training are based in locations around the world, from Hong Kong to London to the US. Wappler walked Business Insider through how candidates are selected, how the firm eases them into running their own money, and what determines who ultimately makes the cut. The biggest thing to teach a senior analyst is not how to invest, but how to trust.
"If every time your analyst gives you an analysis or a model or some work product, if you assume you have to recheck every fact or recheck every number, is number 1, you're not going to get any leverage so you're defeating the purpose of having an analyst. And number 2, the analyst is going to sit back and say, 'Wow, this guy is not really fun to work for,'" he said.
All in all, 37 people have been hired into Anthem, but just 10 have graduated so far in the course of the four years that it's been operational.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the life of an Uber driver in NYC during COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Inside the real reasons behind Mike Corbat's early retirement - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Inside Citi's exec shakeup — Chime's latest round — Buy now, pay later's future - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Inside teachers' first week back in US classrooms: Nerves, disorganization, and exhaustion - InsiderInside teachers' first week back in US classrooms: Nerves, disorganization, and exhaustion
Read more »
Brad Goreski: Inside a Day in My LifeCelebrity stylist Brad Goreski invited Us Weekly to tag along for a day in his life — see how he spends his time
Read more »
5 NFL Teams Stay Inside During Anthem — Others Kneel, Raise FistsFive NFL teams remained in their locker rooms during the national anthem Sunday, on the first full day of game play in the 2020-2021 football season, as all eyes watched how the league — where Colin Kaepernick started the kneeling protests in 2016 to career-ending effect— would handle the growing...
Read more »