Finding Your Calling

Résumé du livre

To optimally utilize their labor, fund families need to match their portfolio managers' skills with the job requirements of different funds. Fund families make it possible for their managers to try out different funds in a learning-by-trying fashion until they find their best match. After they have reached their best match, managers operate at higher productivity levels, which then fund families utilize at a larger asset base. Moreover, fund families hire in accordance with their capability to make the match discovery possible. Managers exhibit a higher degree of conviction after their match discovery, both in their fund and personal portfolios.