Several big funds have shut down following underperformance, or in the extreme, insider trading investigations.
At the same time, industry honchos say they're having trouble finding talent (notably Steve Cohen).
Enter the matchmaker.
SumZero, an investment website, just announced a contest for unemployed people looking for jobs, typically analysts, associates, and portfolio managers.
Members of SumZero's site submit at least three of their best investment ideas between July 15 and August 31. You have to be unemployed to be apply. (The contest goes live on SumZero's website on Friday, July 15.)
Ideas can be about any publicly traded security across regions and sectors. That includes stocks, credit, exchange traded funds, foreign exchange, commodities, et cetera.
More than 25 judges across the world will rate the ideas, and may, at their discretion, meet with applicants.
Business Insider is not allowed to reveal every judge, but here are a few who agreed to be named:
- Michael Rothenberg (Moab Capital), New York City
- Thomas Russo (Gardner Russo & Gardner), Lancaster, PA
- Mohnish Pabrai (Pabrai Investment Funds), Irvine, CA*
- Tom Saberhagen (Akre Capital Management), Middleburg, VA
- Manny Singh (Kavi Asset Management), New York City
- Aalap Mahadevia (Briarwood Capital Management), New York City
- Sid Choraria (APS Asset Management), Singapore
- Alvaro Guzman (azValor Asset Management), Madrid, Spain
- Fernando Bernad (azValor Asset Management), Madrid, Spain
- Adam Leitzes (Karst Peak Capital), Hong Kong, China
SumZero is launching the competition in tandem with S&P Global Market Intelligence, which will award ten winners 1-year licenses to their Capital IQ platform to do research while they're unemployed.
"We've seen a lot of funds downsize, shut down, and there's a lot of talented individuals, who for no fault at their own, are out of work," said SumZero's chief operating officer Nick Kapur.
"They're super hungry, very motivated - and if they want a job back in the industry, they have to have good ideas."