Well, how did I get here?

Inspired by a summer internship at Gabelli Funds on the Growth Equities team, I graduated from Amherst excited to break into the investment business. It was 2007, and my job search was starting just as the Great Financial Crisis was unfolding. I was eventually hired by the former head of equity research at Saloman Brothers to be part of his team of energy analysts at a boutique investment bank in New York, which was later acquired by Cowen & Co. (now TDCowen). The first year on the job was a trial by fire and the most educational of my career. My main responsibilities were producing company-specific research reports, constructing and maintaining financial models, and educating buy-side clients on the dynamics of the sector. I excelled at the writing aspect of the role and within two years I was promoted, becoming the youngest of the 40+ lead analysts at the firm. 

The reality of the sell-side sinks in

Despite the higher status and pay the new position offered, I was reluctant to move into the new seat. Lead analysts are incentivized to express their opinions loudly and with a high level of conviction, and I was coming to terms with my introverted nature and “on the one hand, on the other hand” way of thinking about the world that was drilled into me from years of studying economics. As an associate, I’d also learned that success in the senior analyst role is largely a function of one’s ability to provide clients (analysts and PMs) with direct access to management teams. Without a Buy rating on a company's stock and a juicy price target to boot, developing a fruitful relationship with its C-suite is an uphill battle. This inherent conflict of interest didn’t sit well with me. My growing awareness of the environmental impact of the global dependency on fossil fuels also made it difficult for me to avoid a sense of complicity in climate change as I was effectively serving as a cheerleader for the oil & gas industry. It was time for me to move on. 

A fresh start on the buy-side

Over the course of two short weeks, the next chapter of my life began when I parted ways with Cowen, proposed to my wife, and packed up my Brooklyn apartment to move up the coast to Rhode Island. I soon found myself at the doorstep of a charming office of an RIA based in Newport. The firm had served both individual and institutional investors since the 1970s, and their conservative approach had fared them well across cycles. The partners were eager to bring on some young blood, and I hopped on board as a portfolio manager and lead research analyst. After two years helping grow and modernize the business, I became a partner in 2019.

Writing once again became my favorite aspect of the job. In my effort to develop a cohesive narrative to describe our portfolio positioning, I became fascinated by the high-level debates that dominate the discourse in financial markets: where is inflation heading? will the US dollar hegemony survive? how much longer will the mega-cap Silicon Valley stocks outperform the rest of the S&P 500? did the breakdown of the 60/40 portfolio in 2022 signal the beginning of a new asset allocation paradigm? what role should passive investments play in a portfolio? To try to form my own educated opinion on these topics, with the aim of making more money for my clients over the long-term, I carved out time every day to process an array of opinions from strategists and economists much smarter than I. My periodic client memos were the synthesis of this research, and unlike some of my portfolio decisions, were universally well-received by clients. It struck me that content creation had once again become not only my favorite part of my job, but also the area where I was adding the most value to my company. 

Now focusing on what I do best

As a full-time writer, I’m happy to be free from the feelings of ambivalence and anxiety that I was unable to escape when I was managing large investment portfolios for a fee I didn’t think I could justify. I sincerely admire talented PMs who have the courage to stray from the herd with their strategy (a must for active managers!) and are still able to sleep well at night. I’m excited that I’m now able to help many of them share their subject-matter expertise with clarity, professionalism, and a first-hand understanding of their target audience. 

The days of the most successful funds having their web presence consist of nothing more than a cryptic landing page are long gone. Today, money managers of all types have no choice but to develop a sophisticated marketing strategy led by thought leadership if they hope to attract and retain clients. I’m here to help them get on their way. 

 
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