Decoded with Ryan Pallotta

Steve Cohen’s top lieutenant on training good portfolio managers, reinventing the culture at SAC Capital (the real-life “Billions”) and how hedge funds can create more alpha in volatile markets w/ Perry Boyle

Episode Summary

H. Perry Boyle is an investment industry veteran and current chairman of the BOMA project. Between 2004 and 2020, Perry held several positions at SAC and Point72. As SAC's Director of Research, Perry's job was to change the culture, which he did—in part—by creating a curriculum for analysts and making portfolio managers stakeholders in their future success. Perry tells us the “secret” of running a long/short portfolio, shares his thoughts on the increasing scarcity of alpha and describes how he came to be the chairman of the BOMA project: a poverty graduation program for women, youth, and displaced persons in East Africa.

Episode Notes

Today, I'm excited to talk with impact investor and investment industry veteran H. Perry Boyle. 

Perry's had a long and storied career in the financial world, but the first thing I wanted to know about was his hiring of Prometheus Founder and CEO Michael Wang as a Senior Analyst at the legendary hedge fund SAC Capital. 

Between 2004 and 2020, Perry held several positions at SAC and Point72. As SAC's Director of Research, Perry’s job was to change the culture, which he did—in part—by creating a curriculum for analysts and making portfolio managers stakeholders in their future success. 

Steve Cohen's SAC Capital is the inspiration for the Showtime series “Billions." So I asked Perry to describe the evolution of the firm's culture and the impact of having a psychologist on staff to optimize traders' performance. 

A little later, Perry tells me the "secret” of running a long/short portfolio and lays out his thoughts on the increasing scarcity of alpha. 

Lastly, Perry talks about the journey that took him from Point72 to climbing his “second mountain” —becoming chairman of the BOMA Project, a poverty graduation program for women, youth, and displaced persons in East Africa.

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