Dmitry Balyasny
24 statements across 1 episodes · 5 bullish · 2 bearish · 1 people on the record · first statement Oct 2, 2023 by Dmitry Balyasny · across every show →
On the record as a speaker too: Dmitry Balyasny's record, appearances and statements → this page counts the times other people say the name.
Everything said about Dmitry Balyasny, oldest first
Oct 2, 2023 positive
Oct 2, 2023
Oct 2, 2023
Oct 2, 2023
Senior PMs distinguish themselves by predicting multiple changes, not just earnings
“A big difference between a more junior analyst and a more senior analyst and then a PM It's really an understanding the drivers, the story, the sentiment, which will lead to the multiple change. The frequent complaint you get from analysts when they're going t…”
Oct 2, 2023 neutral
Afternoon trading strategy centered on momentum and multi-day position building
“In the afternoon, it was typically more momentum type trading where you're looking for things that were really outperforming during the day, continued to gather momentum into the afternoon session where They might be a multi-day type of trade. You were trying …”
Oct 2, 2023 positive
Oct 2, 2023
BAM runs IPO teach-ins for venture-backed founders preparing to go public
“So we do teach-ins between the private PMs, the public PMs, your equity capital markets desk, and a venture capital fund that'll bring a bunch of founders who are looking to go public in the next few years, and we'll do a teach-in for them.”
Oct 2, 2023 neutral
Balyasny reinvested broker commissions into his personal trading account at 18
“Turned 18, I was licensed as a stock broker, got a job at a small firm, mostly cold calling, trying to get new clients, and I started reinvesting the commissions that I earned from being a broker to my own trading account.”
Oct 2, 2023 neutral
Oct 2, 2023 positive
Long-bias funds pose far greater dollar risk than market-neutral multi-strat platforms
“I think for some reason it gets singled out to this space, but much larger risk in dollars is the more long bias strategies that are common across other areas. So if you look at last year and you think about the meltdown in growth investing and whether that wa…”
Oct 2, 2023 positive
Novice traders should master a narrow risk box before expanding scope
“You just create, like, a very well-defined small box to start, where you just have, like, a few elements to worry about. Only had a small number of trades, a small number of potential trading instruments, small holding periods, You kind of define the types of …”
Oct 2, 2023 negative
Specialist-only trading environments create low risk tolerance and cascading drawdowns
“Another side, the worst environment is when there is no generalist capital, and money's flowing out of the strategy, and the specialists in the strategy are all underwater. And so in that environment, you're trading against other specialists, and nobody has mu…”
Oct 2, 2023
Oct 2, 2023 neutral
Talent mapping is efficient in equity long/short but inefficient in quants
“It's relatively efficient. I think it depends on the transparency of the strategy. So equity long short, I would say is pretty efficient. There's a lot of teams. They all go to the same conferences. A lot of them know each other. People move around. Analysts m…”
Oct 2, 2023
Analysis paralysis destroys opportunities; investors must get involved to truly learn
“You could do analysis forever, and if by the time it becomes obvious, usually the opportunity is gone, and so a lot of times you're not really going to learn everything until you're involved. You just got to figure out how to get involved in a risk responsible…”
Oct 2, 2023
Early trading focused on short-term catalysts over long-term valuation models
“I was focused on the change in fundamentals and news flow, so I wasn't focused on fundamentals of trying to figure out what a company was going to earn next year, but we were focused on what is driving the stock for the next few days and few weeks. We weren't …”
Oct 2, 2023
Oct 2, 2023
Painful-to-build trading businesses create lasting competitive moats around hedge funds
“So we kind of like those areas where you can export some of your capabilities, but that are difficult and painful to build because it keeps competition up. It might take you a number of years, but if you can do it, you got to moat around the business.”
Oct 2, 2023
Oct 2, 2023 positive
The best trading environments happen when generalist capital inflows are high
“In general, the best environment is when there's a lot of generalist participation in a strategy, and there's a lot of money coming into a strategy. Because then your specialist participants, whether they're trading bonds, currencies, commodities, equities, li…”
Oct 2, 2023 neutral
Oct 2, 2023
BAM began as a prop fund with only Balyasny and Schoenfeld investing
“We became a hedge fund, but with proprietary capital where myself and Steve Schoenfeld were the only investors, and then we fully spun it out and started taking external capital and also piece by piece weaned ourselves off of the middle and back office and sta…”
Oct 2, 2023 neutral
Morning trading strategy focused on relative weakness and market reversals
“In the morning, a lot of times, you look for reversal trades, where the market would open up, and you look for stocks that weren't trading well versus the market, and they were showing relative weakness versus the market, and industries that were showing relat…”
Oct 2, 2023 negative