One key function of long/short fund managers is to compare similar companies and trade them against each other. These companies are often found within sectors but can also be found across sectors, as companies with similar characteristics. Once identified, a long/short manager will buy the stronger-performing company in the pair and sell the weaker-performing company. This is known as a 'pairs' trade. This strategy also has the benefit of being market-neutral (given one long and one short trade in the pair). The ASX is littered with potential pairs trading opportunities. Some examples include Coles and Woolworths, Fortescue and Rio Tinto, and Santos and Woodside. Given the focus on comparing companies and actively trading them against each other, who better to ask for their best and worst picks in a sector than a couple of long/short fund managers? For those who love stock picks on both sides of the ball, this episode is for you. Livewire's James Marlay was joined by Tribeca Investment Partners' Jun Bei Liu and ClearLife Capital's David Moberley to discuss their best and worst picks in five different sectors. Note: This episode was recorded on Wednesday 6 November 2024.