Call —
Transcript streaming
0:00 Caller: This call is being routed by Google.
0:00 You: This call will be recorded.
0:08 Caller: The cost of this call is 1 cents per minute.
0:12 Caller: B.
0:14 Caller: B.
0:15 Caller: B.
0:16 Caller: B.
0:17 Caller: B.
0:18 Caller: B.
0:19 Caller: B.
0:20 Caller: B.
0:20 Caller: One second.
0:20 You: Hello, Graham, just got your email, everything okay?
0:33 Caller: Hello, Jeff.
0:37 Caller: Hi.
0:38 Caller: Yeah, so I...
0:40 Caller: I've just spoken to Ben and Dan.
0:40 You: I'm going to be.
0:42 You: I don't know.
0:44 You: I don't know.
0:45 Caller: So what are the things, so Dan is pretty much
0:46 You: I don't know.
0:47 Caller: the managing director here.
0:48 You: I don't know.
0:49 Caller: So what are the things that they wanted me
0:50 You: Thank you.
0:51 Caller: to pretty much knuckle down with you on?
0:52 You: Thank you.
0:53 Caller: And pretty much, I'll take the run for this,
0:56 Caller: is they want me to have a number, a definition.
1:00 Caller: number. It's just because Elliot now have pretty much said in terms of any processes that we run with them, they want to know a definitive number that if they were going to put in front of you, you would say yes. So obviously because we're going back to them with 450, what they want me to say to you is pretty much we
1:00 You: We're going to be.
1:20 Caller: cannot go to Elliott with leverage based off of other processes we need something
1:20 You: Thank you.
1:26 Caller: more concrete in the sense of what is our strength in presenting this number so if
1:33 Caller: we were to offer so for example a few points I need to clarify is if Elliot
1:38 Caller: were to offer around 400,000 of
1:40 Caller: compensation would that be acceptable and if not why
1:40 You: that at 400,000 total comp, that then becomes, how do I put this, it then becomes what
1:53 You: the other requirements or restrictions for the job become.
1:57 You: So that's where I would pay attention to the
2:00 Caller: Mm-hmm.
2:00 You: IP clause, that's where I would pay attention to the trading restrictions because that is
2:02 Caller: Hmm?
2:07 You: roughly in line where I imagine most of the other processes will land. Now if they
2:13 You: want me to walk away from the other processes and accept Elliott outright, I would
2:17 You: probably be looking at 600,700,000.
2:20 Caller: So yeah, yeah, yeah, okay, makes sense.
2:20 You: total comp. That's a level that I anticipate, especially if it's liquid, would be above any other
2:26 You: process I'm currently running. However, I'm not confident in my profile being able to justify
2:32 You: that higher price, so I'm hesitant to name it.
2:39 Caller: So if they were
2:40 Caller: to offer 400k that the questions become the stuff around everything else so IP trading
2:40 You: Thank you.
2:46 Caller: restrictions and all of that um now the other question i know i've asked you this a million times
2:55 Caller: so just to get that out of the way so 250k base
3:00 Caller: is not an issue should they be able to get to 400 should there be IP clauses
3:00 You: Thank you.
3:05 Caller: trading restrictions and stuff like that then obviously compel need to rise
3:09 Caller: closer to 450 on top of that versus the other processes like say if and yeah
3:20 Caller: were to offer tomorrow 400k no IP restrictions no trading issues they were to say to you
3:20 You: Thank you.
3:27 Caller: tomorrow literally after the call um or after your next call we're willing to put 400 down and there's
3:34 Caller: not going to be IP restrictions or anything of the sorts around that would you then accept
3:40 Caller: Okay. Yeah. Yeah.
3:40 You: I would ask for a week to decide and then hurry up the other positions.
3:44 You: If it helps sweeten their offer, I don't know how signing bonuses work in the hedge fund space,
3:51 You: but I imagine it's one other lever that they could offer to persuade me to withdraw from the other processes.
3:52 Caller: Yeah.
4:00 Caller: Yeah.
4:00 You: before completing them.
4:01 You: I don't, but I defer to your expertise there.
4:03 Caller: So I typically work research and portfolio management rules, which is why my way of working around this is completely different.
4:04 You: What is something that, I guess,
4:07 You: your other candidates have received
4:08 You: in the past for other hedge funds?
4:16 You: Oh.
4:20 Caller: Like with portfolio management and research, you have a lot more flexibility afforded you.
4:20 You: Thank you.
4:25 Caller: Whereas with tech, I'm starting to learn that flexibility is one thing,
4:29 Caller: but essentially moving the goalpost mid-process is literally something that nobody does.
4:35 Caller: So that's why I need to kind of get a number knuckled down to know that if they were
4:40 Caller: to put this in front of you what would that conversation look like in the next step um the other
4:40 You: Thank you.
4:46 Caller: thing that i was told to ask is the compensation will be fully liquid um with no illiquid
4:54 Caller: equity components to it so it will pretty much be a base
5:00 Caller: and a bonus number and the fact that it will be paid to you all cash is something that we need to be
5:00 You: Thank you.
5:05 Caller: we need to discuss but I think it will be paid within that 30-day period whereby by the end of the
5:10 Caller: year when you're receiving your bonus you would then receive the rest of the amount that is left to be
5:15 Caller: due so with that in mind I know it's going to sound
5:20 Caller: like i'm banging the same drum 400k would be fine i'm going to send this to you in writing
5:20 You: Thank you.
5:25 Caller: 400k would be fine as an initial start well not as an initial starting point because i
5:30 Caller: cannot say initial starting points anymore um should there be no um ip restrictions
5:38 Caller: restrictions
5:40 Caller: and you own or should there be no issues with IP ownership should there be no issues with IP ownership and trading restrictions by trading restrictions what do you mean yeah
5:40 You: I manage my own book, predominantly equity derivatives, prediction markets
6:00 Caller: Yeah. Yeah.
6:00 You: and crypto. I acknowledge that Elliott will probably restrict my options trading, so they require,
6:05 You: I believe it's 30-day hold, possibly longer, and that's fine. I do want to understand what those
6:10 You: restrictions are, mainly because I sell a lot of volatility and it's quite lucrative. The same goes
6:13 Caller: Yeah.
6:14 Caller: Yeah.
6:15 Caller: Okay.
6:17 You: for prediction markets and crypto markets. So if...
6:20 Caller: Okay.
6:20 You: it isn't in either of those markets. I assume it will be unrestricted, but that depends on any
6:25 You: hypothetical offer that comes through. I imagine if RLS has placed anyone else at Elliott in the past
6:30 You: year, a copy of the employment agreement should surface or at least answer some of those questions
6:35 You: without an additional conversation with Elliott directly.
6:40 Caller: Yeah, okay, perfect.
6:40 You: Yeah, that works.
6:41 Caller: So what I'll do is I'll pass these details
6:43 Caller: on to Ben and Dan.
6:47 Caller: I'll pretty much get all of this confirmed to them.
6:50 Caller: And then should they have any other questions,
6:53 Caller: what would you prefer?
6:53 Caller: Because I know you're with your son today,
6:54 Caller: so I don't really want to bother you.
6:55 Caller: Do I just pop you an email?
6:56 Caller: And if you're available, you just give me a call.
7:00 Caller: Okay, perfect.
7:00 You: although let's see
7:02 Caller: Yeah, yeah, yeah, just feel free to pop me an email back saying, look, I'll call you back in two or three hours or something like that.
7:02 You: I'm off to the park shortly
7:04 You: so the calls after this
7:06 You: might be garbled so we'll find
7:09 You: we'll try our best
7:18 Caller: And if it's not today, I can have this conversation.
7:20 Caller: over the weekend despite yeah um don't like you're one like you're one of the
7:20 You: if you're willing to take the conversation over weekend that's wonderful when do your working hours normally stop because i know i think you're five or six hours ahead of me
7:34 Caller: candidates that i need to be thoroughly like on top of so today i'm going to be home all day
7:40 Caller: and all night so don't worry about it like it won't stop until we've got everything
7:40 You: understood well i appreciate your dedication to this and getting it over the line hopefully the ranges that you have now will satisfy ben and david if not how else can i help solidify that for you
7:45 Caller: nailed and and I'll just pretty much be here at your service okay no worries
8:00 Caller: Yeah. If not, I'll get the questions and get back to you.
8:00 You: We're going to be.
8:05 Caller: Sorry, it's my first couple of months in a tech role, so I pretty much work very differently in research and portfolio management.
8:14 Caller: The leverage typically usually is heavily wasted on the current performance.
8:20 Caller: so somebody could go up or down within a month,
8:20 You: oh no i'm learning too so happy to learn together with you on the scram heart thank you take care
8:23 Caller: whereas I guess in tech is completely different.
8:25 Caller: So my bat on that side of things.
8:29 Caller: Yeah.
8:30 Caller: All right.
8:33 Caller: Later, bye.