Ricky Sandler
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Ricky Sandler reads as a Navigator because he treats market structure as terrain to be charted, not weather to be endured. Tracking passive indexing's rise from 25% to 60%, he recalibrated Eminence's long-short strategy to match the new map, using structural mispricings as coordinates rather than provocations. Early crises did not knock him off course. They calibrated the compass he still steers by.
“Going through those early crises were formative in our ability and my both ability and desire to build a true long short hedge fund. That single stock shorting was at the core of what we do.”
“Markets are very different and the people setting prices over the short run are very different. The marginal price setter was a bottoms up investor. Fast forward today, that twenty five percent index is now sixty.”
“We are trying to find durable businesses and mispriced stocks, and there are more mispricings coming from investors because it's not just fundamental investors now, it's this new market structure.”
Masters in Business: “From GameStop to Meme Stocks with Ricky Sandler”
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