I just joined a hedge fund and we have this investment challenge game within our team. The game is to play a virtual investment game with hypothetical money. But the payoff, which is determined by our over/under-performance against a particular index (say MSCI APAC ex Japan), instead of the actual returns of our holdings, is real. So for example if my virtual holdings for the month returned 5% while the index returned 3%, I would receive 2% x USD 100 = USD 200 from my boss. I am just wondering if this is a normal or legitimate practice within a fund house. My boss said he got the idea from a retired Goldman Sachs fund manager who used to do this with his team. Thank you.
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Is there a penalty if you underperform?
yes it will just be the exact opposite
Hah probably not common, but pretty awesome
Doesn't really sound like that big of a deal. So I don't think it's "normal", but it's also not exceptionally weird.
It's similar to the European quant team at SAC getting together and doing PF Chang's every Saturday night - is that "normal"? No. It's also not really weird. Or a big deal. Or that interesting. Kind of a like this.
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