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Hedge Fund as the 1st job out of undergrad
Hey fellow monkeys , I have a job offer at a hedge fund (>25bn ) straight out of undergrad . However , it is for operations and it lasts 16 months . What do you think ? - how does this set me up in the future ( b-school , other FO roles ) ?
What happens to Undergrads who fail to secure an internship?
As we all know, **Investment Banking is a highly competitive industry to get into. **Not everybody goes to Wharton or Harvard Level Ivy Leagues, for most of us we'll probably go to a University of California Berkeley/USC/Duke/Notre Dame/Brown University type of ranking school, which is nothing to be...
Millennium Management Long / Short Interview
Hi all, I will be beginning the process with Millennium Management soon. This will be for an equity long / short team. I'm currently in banking, went to a target, and fortunately have some time to prepare. I know a pitch on several ideas is probably to be expected, and I will sound intelligent about...
How to maximize 3 months in NYC
I will be spending the summer interning in NYC and am curious what interesting things I should take advantage of. Hoping for atypical things to do (i.e not "seeing the Statue of Liberty"). Places to check out, things to experience, places to eat, events to attend, etc. Whatcha got?
What does Stephen Mandel's bio say about finance these days?
Came across the bio of Stephen Mandel. Apparently he spent 4 years at Mars & Co. as a consultant before going to business school, working as a consumer/retail analyst at Goldman for 6 years and then joining Tiger Management (becoming an MD after 7 years). He then left to start Pine Capital. Is it...
How beneficial is Martin Shkreli's course for a novice? (Financial Modeling/Valuation)
I'll be attending college in the fall and wanted to get a head start and learn financial modeling and valuing companies. Are Martin Shkreli's videos on YouTube ( ) a good resource for me to learn modeling and valuating a company? It seems to be helping and I am understanding what he says and I...
Emergency Physician to Consulting
Hi all, I am a practicing emergency medicine doc trying to leave the field of medicine. Though I could list all the reasons, I feel for now it is sufficient to say I have invested significant time into reaching this decision and am quite confident in it. With that said, I don't know how to get out!...
Fundamental L/S equity analyst to alphacapture product manager
I am currently an analyst at a 200m AUM hedge fund working as a fundamental equity L/S analyst. Got an opportunity to interview for an alphacapture product manager role at one of the largest/prestigious quant HFs in the world. Would this kind of move make sense? I understand that quant HFs are...
Catered Internship Networking Event
On May 31st at 7PM, the Bergen County Technical School is hosting a networking event for talented high school interns interested in a career at Wall Street. Firms like Neuberger are coming. The students take rigorous courses that involve technical/fundamental analysts, college level accounting, and...
Stay where I am or join HF
I am using a separate account to stay anonymous. Anyway, here is a little bit of general background: I have been working since graduation for a unitranche/mezzanine fund with a separate mandate for leveraged loans in Europe. I have been doing very well here and am looking to be the youngest one ever...
Post MBA Mutual Fund and Hedge Fund recruiting
How competitive is recruiting for mutual fund or hedge fund equity analyst roles post MBA? Since active management is under pressure, has that changed recruiting in a meaningful way? I will be entering either Columbia or Wharton (waitlist) in the fall. My background is in MM PE but I am considering...
What is the future of the hedge fund industry and will non-automated/quant strategies be able to compete?
Hi I am in high school and I really like investment (not day trading nor the different automated trading methods). I like value investing, growth investing, arbitrage, and generally strategies that are more discretionary and require understanding businesses and going deep into them. I do use quant...
Hedge Fund Trader Compensation - What % of profits do traders get paid?
Hey I have a bonus compensation meeting this week and am wondering what's standard profit share % for traders. Need to be ready to negotiate. Thank you.
Hedge Fund MO to B-School
Curious how a MO role (i.e. corporate dev., investor relations, etc.) at a top HF (i.e. Citadel, Bridgewater, etc.) coming out of undergrad will place in top 10 b-schools in ~2 years. End goal after MBA does not involve FO or the finance industry in general. Has anyone gone down a similar path? Any...
Pre MBA: Non traditional -> Post MBA: HF/PE/VC/IBD/MC
Hi All, I know this topic has been discussed in a similar dynamic but my difference is the more non-traditional background. I'll be attending an M7 school this fall, not HSW. I have a consumer goods background in brand management. However post MBA I'm curious to make that switch to either HF / PE /...
Ray Dalio is stepping down at Bridgewater
Now that Dalio has agreed to step down, whats the implication to the firm and the industry in general. Granted he will still be in charge for the most part, but this presents a major shift especially for a guy who has a cult-like following. Thoughts?
Real Estate Hedge Fund List (Looking)
Hi all, Trying to put a list of hedge funds who invest primarily or have a team that invests mainly in Real Estate - debt or equity doesn't matter. Names that come to mind so far: Och Ziff Davidson Kempner Fir Tree ... Go ahead keep adding, thanks!
Why does a company care if their stock prices keeps on falling?
Lets assume I run a bank and my stock price has fallen from $100 to $85 dollars over the period of 1 month. As the bank CEO/CFO/Treasury, why does it matter what my company's stock price is, in the public markets? It's not like investors are directly pulling money out of the bank's equity when they...
The PE career path
I'm trying to get a better gauge of the careers in and out of IB . While the 2 year stint in PE out of IB seems very lucrative/prestigious blah blah, it seems like most shops kick you out after 2 years and you're expected to go to bschool. Some questions surrounding this path: 1. What kind of shops...
Capital Introduction to small hedge fund start ups
I am introducing capital allocation to small hedge fund start ups. You will need to show me a 12 months track record, preferred the fund is on a entity i.e LLC We are based in London, fee split will be negotiated once you are qualified to get investments. Larger the account size the better. message...
Quant funds - how they actually function; newbie question
Few questions if anyone can help me for how a small quant team actually operates: -For say med / low freq equity groups that trade minutes/hours/days, when their book / aum is turned over in a day, what is typical (understanding it can vary a lot) on how many trades / # of positions / per position...
Citadel Global Equities (pay, culture, career path, lifestyle)
I had a number of questions about Citadel's global equities team because I recently advanced pretty far in the process there. There is a surprising lack of information on the fund given its overall influence on the finance world more broadly. Feel free to comment on any of the questions below so we...
Calgary PE
Anyone have any insight on exit opportunities in Calgary mainly wondering about PE but also any info on hedge funds / AM gigs would be appreciated . Looking for details such as reputable shops, approx. salary, culture, hours, etc.
Hedge Fund vs. Long Only Compensation
From reading articles and posts it seems that compensation at long/short hedge funds is typically thought to be quite a bit better (as in much more potential upside) than a long-only fund. However, as an example, if we assume both fund A, which is a typical long/short equity fund, and fund B, which...
Are you good at shorting?
Was asked this at a HF interview. What is your thought process when determining good shorts and what are key items you look for. Also, how do you determine what kind of position to take and how should you adjust/change your position if the market goes in your favor/against you favor (for example,...
internship decision
Hi, I am a Junior who has internship offers at Goldman Sachs , Oak Hill Advisors , and Balyasny Asset Management . As someone generally interested in the investing sphere, I am choosing between OHA and BAM, and wondered what people knew about each group. Thanks!
Internship decision help
Hi, I am a Junior who has internship offers at Goldman Sachs , Oak Hill Advisors , and Balyasny Asset Management . As someone generally interested in the investing sphere, I am choosing between OHA and BAM, and wondered what people knew about each group. Thanks!
Who are your smartest clients?
This is a question towards people who have been working in equity research already and interact with clients. Among the clients that you know or believe outperform their benchmarks, how different are their viewpoints and questions versus the rest of your clients? Different clients have different...
MM Lending -- Pay / Compensation / Lifestyle?
I'm currently looking at MM Lending opps within PE firms and it looks like there is a dearth of information on the strategy on WSO Can anyone that works in or around this strategy offer any insight on the career path?
Buy Side Job
Hi all, I'm currently an execution trader for a boutique brokerage firm based in London, focusing on Event Driven. Have been in this role for about 3 years. Also a CFA Level III candidate for June '17. Very keen to make the switch to the buy side as either a trader/junior PM or junior analyst. Do...
Are there any billionaire (or 9 figure millionaire) hedge fund managers from a non-traditional background?
So for example. They didn't do the whole Ivy League to BB to HF and work their way up or lateraled. Like managers that worked in a completely unrelated field and then got into hedge funds and investing. I know it's not unheard of in the Venture Capital field but I'm not sure about the Hedge Fund...
Clinton Group Stat Arb
Has anyone here heard of Clinton Group before? I've got a final round onsite interview for a junior stat arb researcher role. Could anyone maybe shed a little light on the firm's culture, work-life balance, growth outlook ... etc. I searched online and got very limited info. Anything is highly...
Understanding the role of a client support executive
In a hedge fund/investment management firm, what does a client support executive do? I have a description here but I don't understand what it does. "The client support executive is responsible for dealing with valuation, performance and other client statement enquiries in such a way as to provide a...
Low grades in accounting! Hurt IB chances?
I've just finished my finals for the summer semester at my college, and my gut feeling tells me my Financial accounting course won't go so well. I entered the final with an A, but might come out with a B+, which is equivalent to 80-84% (GPA 3.30) at my school (but my school is on a 4.33 scale). This...
Can I turn this situation into FT?
I'm graduating undergrad in May 2017 from a non-target school, I've been interning the past several summers at a research focused, concentrated L/S firm in NYC . I'd ideally like to skip banking and go straight to the buyside. For firm specific reasons there isn't a FT spot open at the firm I've...
Carrington Capital Management
Fund started in 2003 by Bruce Rose of Salomon Brothers. Strategy focused on control-based investing in the US real estate, mortgage and fixed income markets. Known for their buyout of the leading mortgage originator New Century during the 07-08 crisis. Based in Old Greenwich, CT. Thoughts on the...
Activism
Mod Note (Andy): This post is a partial reprint from the December 7th edition of Jared's Daily Dirtnap Newsletter. If you'd like to read more, WSO readers qualify for a $100 discount to his Daily Dirtnap daily market newsletter...just email [email protected] and mention "WSO Monkey Discount"....
Wanna Jump Straight to the Buy Side?
Mod Note (Andy): #TBT Throwback Thursday - this was originally posted on 10/17/12. To see all of our top content from the past, click here. Deciding to Recruit For the Buy Side Most of my friends are going into banking. Not because pitch books and road shows are their thing, of course, but it opens...
Treasury Analyst at AM/buy side fund
Hey everyone, I recently got an interview for a treasury analyst position at a major AM . The reason I decided to ask about it even though I haven't gotten a offer is that I've never thought about going into treasury. I am currently in a middle office at BB as a control function, but what's unique...
Summer Internship: Ideas for a Research Project
Hello fellow monkeys, I just finished my freshman year and was able to land a summer internship at a credit hedge fund, which I am currently working. I was doing a lot of work in the beginning and it has slowed down a bit since it's the summer and I'm looking for a reasonable project that I can...
Best Career Track for Young Pro After CFA®
Hi All, I've been reading WSO for a while not but haven't written or commented much. Last weekend I sat for Level 3 of the CFA® Exams and feel pretty confident about it after passing the first two levels on my first try. My question for the community is, what career path would you recommend for...
From HF in Asia to AM/PWM in EU??
Hi guys, looking for some help here.. a bit of a background first.. I attended uni in Asia studying engineering, and then completed a Masters in Fin from Europe. Came back to my home country (in Asia) post Masters (wrong time to graduate in EU - 2012), and found a job providing valuation services to...
Takeover: Hedge Fund vs. Private Equity firm vs. Holding Company
Hello peers, I was wondering which type of firm would be better for the following: A firm that specialises in acquiring large stakes in firms or hostile takeovers in order to either a) increase their value and sell them after 5 year exiting at a certain multiple c) do asset stripping and try to make...
Singapore Hedge Fund
hi guys, looking for a bit of guidance. came in touch with a singapore based hedge fund that is expanding to the US. They are looking to hire a few analysts as part of the expansion. They have a website but with little information on it. I'm trying to see if there are any databases or ways to view...
Fundraising for Hedge Fund
Hey guys, We are in the process of starting a holding company that will be allocating capitals in different asset classes. My boss (CEO) ran a successful hedge fund before and retired. He is looking to start a holding company now and he has his old investors ready to invest. Being part of the team,...
New To This: What does your average person do at a equity/fixed income hedge fund after graduating college?
Let's say you graduate from college and get an offer to join a hedge fund. What will be your title? (I'm guessing analyst) What will you do on a daily basis? What would your resume look like?
Get a job in a US trading firm
Hello, I would like to work for a US trading firm (investment bank or hedge fund) as a trader or quantitative analyst, but I am not american. What is the (best) way to get this kink of job ? I worked as market risk analyst on ird and fx derivatives and before this experience I was IT quantitative...
55x price hike on "Essential Medication" - Smart move?
Turing Pharmaceuticals, led by former hedge fund manager Martin Shkreli, upped the price of Daraprim from $13.50 to $750 per pill after acquiring the marketing rights. Not surprisingly, this instantly made him "the most hated man on the internet / in the world" on Twitter, etc., with his use of...
PhD in Finance vs. public markets to HF?
Hi, I majored in math at a top 60 school and a did a masters in operations research/financial engineering at a top 10 school. I did not like financial engineering and have been moving more into the macro world, currently working in the federal reserve system. I am now considering going back for a...
I want to be on the other end of the phone!
I have a bachelors degree in communication, currently work for a financial services firm that handles high net worth clients. I am a business development associate. I am great at calling prospects and turning them into qualified appointments, some have become great clients of the producer I work...
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