PE and value hedge fund. Ie, basically the non-quant folks. I think there is a pretty large gap between quant and the rest of the investment community (although

PE and value hedge fund. Ie, basically the non-quant folks. I think there is a pretty large gap between quant and the rest of the investment community (although I haven't actually worked in quant, so I'm speculating this is where the mismatch is). Concrete example - Bill Ackman hasn't ever thought about "risk parity". The average small value fund hasn't ever thought of it. Activists dont'. PEs don't. VC's haven't even heard of it. PE and VC also think of their investors as "LPs", not investors. As for who wants to work where... this is anecdotal but have you ever heard of someone at a PE/VC/HF say "I would really like to work at CALPERS/CPP etc"? I have not