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- Buy-Side Insights No. 19
Buy-Side Insights No. 19
Two new opportunities for emerging managers ● Eisler closes, Riptide Advisors launching next ● Investor survey indicates AI equities are in the 4th inning ● When NVIDIA becomes the lender ● The IPO market is hot ● The rise of the hedge fund agent ● Why would a fund hire a PM after a big loss? ● Zoom: more than meetings ● Resilience lesson from A-Rod
Doug Garber
October 05, 2025
What’s on tap today:
● Two new opportunities for emerging managers
● Eisler closes, Riptide Advisors launching next
● Investor survey indicates AI equities are in the 4th inning
● When NVIDIA becomes the lender
● The IPO market is hot
● The rise of the hedge fund PM agent
● Why would a fund hire a PM after a big loss?
● Zoom: more than meetings
● Resilience lesson from A-Rod
New episode drop:
$FAST — Why 40x Earnings May Not Hold
Fastenal is a great business — but at 40x earnings, is it a great investment?
This week on Pitch The PM, I sat down with my former Citadel colleague Yuriy Gelfman to unpack why EPS revisions are unlikely to follow the recent multiple expansion. His forecast is a bit below consensus. We discuss the potential for comps to decelerate after tariff pull forward helped comps YTD and risks from vending machine saturation.
The takeaway: even top-quality businesses can be poor buys if the entry multiple is too rich.
Follow us on X (@PitchThePM) for real time insights
Sponsored: AlphaSummit 2025 — where AI, data, and expertise converge
This week, our friends at AlphaSense are hosting AlphaSummit 2025 (Oct 6–8 at The Refinery at Domino, Brooklyn). It’s a three-day gathering designed for investors, strategists, and research leaders who want to sharpen their edge in a market where speed and precision matter more than ever. Highlights include:
Keynotes and firesides with Nick Saban, Lloyd Blankfein, Patrick O’Shaughnessy, and top sell-side voices like Keith Weiss (Morgan Stanley).
Founder panel with leaders from AlphaSense, Tegus, and BamSEC on the future of financial research.
Tracks on discovery, diligence, and monitoring — showing how AI is transforming workflows from idea generation to competitive intelligence.
Networking opportunities with a community of forward-thinkers across asset management, corporate strategy, consulting, and more.
DM me — I’ll be there Tuesday and Wednesday.
👉 Learn more and register here: AlphaSummit 2025