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Lee Fixel’s fund. Fairly high profile launch + seems to hire very top talent (including former TGM). Any info about them, process, comp, public vs. private exposure? Thank you all
Getting an offer at a HF but love my PE firm
Looking for some advice. I work at a PE firm and absolutely love it. The culture is awesome. My manager is incredible, my skip level is amazing, and her manager is a huge supporter of mine. I get unprecedented access to leadership and really feel like a valued member of the firm. But a major HF is...
D.E. Shaw Return offer rates
Hello—can anyone who has worked at/interned at/known someone who was at D.E. Shaw comment on the internship return offer rate for the fund's discretionary teams? Some posts on WSO talk about it being a low ~20% but I am not sure if thats still the case.
How to make a 1 page stock pitch?
I’m a current undergrad entering a stock pitch competition. I’ve never made a pitch but am used to them being longer or in deck format, so I really don’t know where to start for this 1 page pitch and don’t know how to format it. Any tips on how to structure it or where to start? One page...
How to format a one page stock pitch?
I am a current undergraduate participating in a stock pitch competition. I don't know how to pitch a stock in just one page - that seems too short to elaborate or give any solid in-depth analysis. Does anyone have any tips as to how to get started or how to structure this pitch in one page? I feel...
Recruiting for HF
I just started my senior year at my non-target school after completing a summer internship at an EB in coverage and signing my FT offer. I'm in a pretty specialized industry group (think FIG / Energy / Real Estate). After doing two years as an analyst, I want to go into SM HF, preferably value...
Three Quant Contracting Roles Comparison
Have always been a full-time quant; have both buy side and sell side experience. Trying out contracting now. Have three offers. 1. HSBC. £ 938 / day. CVA, credit risk, C++ / Python. Enjoyed talking to interviewers, but was never interviewed by line manager himself. Seems like a shorter term...
How important is financial modelling to an investor
Hey everyone, I would like to get your opinion on how important financial modelling/ modeling skills are in order to be a successful investor. Im asking because I don’t understand how a 5000 row model, helps you to value a business (candlestick capital thread). In which way does a complex model...
What do hedge fund employees do in the interim after they set up all their long term stock positions?
If you are employees at a hedge fund and your strategy is only long-term/consistent stock value growth. And the hedge fund finishes taking 100 different stock positions. And just waiting to sell the positions in 5 years for a profit.. What do the HF employees do in the meantime while waiting for the...
Opportunities after MM HF Career
Hi all, been on this forum for quite some time and actually learned/benefitted a lot, but I would love to know more about what comes next after a career in L/S HF. Very grateful to have received an offer for the next summer at one of the bigger names (P72/Citadel/MLP etc.), and trying to better map...
Recent developments at Eisler capital
There seems to be quite a bit of turnover at Eisler Capital recently https://www.efinancialcareers.co.uk/news/2023/08/… A quick linkedin research also reveals some very quick departures this year. Is this just the normal turnover, as expected for a MM, or does anyone know if there are deeper...
Succession Planning at Hedge Funds and Long Only Funds
Does anyone have any anecdotes or knowledge of hedge funds or other public equities funds that have survived the founder retiring? I am trying to figure out if there is a chance that the fund has any persistence once the principal inevitably steps down or whether we will necessarily unwind....
MM vs SM - is this cyclical or secular?
MM have crushed SM last few years - is this an obvious trend over next decade or just reversion? You had multiple years where Baly struggled, citadel shut down divisions (aptigon, ravelin) and now they are all humming at same time. I get sense that data + mgmt access importance has advantaged MMs...
Strategy vs Trading for Macro HF
If my end goal is to work at a macro hedge fund, would a strategy role or a trading role better set me up to make the move to the buyside? With the assumption that both roles are in macro products (FX and Rates). I have heard that it is hard to go from strategy to trading, but does this apply to...
My Journey Into Equity Research..... Updated**
Here is my current journey and how I am trying to get into equity research. This is my story, and I hope to give peace of mind to others.
Accepting the offer at KCL and considering a transfer
Hi there It sounds like you're facing a challenging decision regarding your academic and career path. It's completely understandable to have these concerns, and your thought process shows a lot of careful consideration. Firstly, it's important to remember that the path you choose isn't set in stone....
Operations PhD London Career Advice
Hi everybody! I am a last year PhD student in a top university in the UK in Operations. I started my PhD intending to do an academic career, but realised it is not for me. I want to make a transition to industry and I find quantitative finance quite interesting. My research focus so far has been...
Why would you ever leave PE to HF?
Outside of tiger global or something - why move to HF after PE vs stay on as VP or principal make $10-20m of carry over life of fund with an army of associates doing your work vs $500k a year with 1-2 years of unemployment between gigs while working 80 hours a week on earnings previews and reviews
Should I switch firm/industry?
I've been working at a Family Office/PE firm for about a year and a half focused on life sciences buyout. Most people are lots of fun and hours and comp are great. I'm not sure how great investors the partners are though or whether I fit in with culture where people focus on selling narrative vs...
Can you run a hedge fund for 30 years with 1 person only?
Basically a hedge fund is just like a regular Joe's $500 stock trading account but instead of managing $500, you are managing $1,000,000,000.00+ However, the basic concept is still the same (You just click buy/sell on a keyboard/mouse.) So the question is, can you run a billion dollar hedge fund...
MBI
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Realistic Comp at L/S MM-style places?
I want to go the HF route after a 1-2yr banking stint. I want to do this regardless of any answers in this thread, but I wanted to ask this as more of a reality check. See a lot of discussion in this thread about PMs making high 7s-8 figures a year (how many of these there are I'm not sure about),...
Healthcare Consulting to HF
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Point72 Interview
I will be interviewing with Point72 in the UK. Anyone who has some advice or tips on what they ask during the interview and what the process looks like? For the record I have an IB background with over 2 years of experience. I would assume the would ask for a stock pitch and motivation.
Wanting to end up in a HF, but no idea how to get there.
Hi everyone, For context, I'm an upcoming Junior at a T25 school in Finance. I've always wanted to end up working at a hedge fund or a L/S fund. I'm not adamant on forcing myself into a label of "HF" or "AM", being so young and inexperienced. However, I know for certain I want to work on the buyside...
Is stock picking a dying skill?
Hey everyone, As I'm contemplating the next step in my career, I considering if I should take the public equities path as I'm interested in analysing companies and hate all the process-related admin that I did in IB. However, I'm a little concerned that stock picking is a skill that will be phased...
Considerations for working in the Middle East
Hi everyone, Some background about my situation: Have spent 4 years in an EBB in London for a strong sector team (Evercore / Lazard). As of this month, I have left my role and do not intend to take any extended career break. I am considering a career transition to the Middle East, specifically UAE...
Where to learn trading & to build a good track record for a HF
I am wondering where and how to learn professional trading with the goal of having a strong track record, being seen by investors as an emerging talent, and working as a trader at a HF or setting up your own. Additionally I want to use this knowledge for my own asset and wealth management structure....
Worth it to transfer from NYU CAS to UNC?
So I just finished up my freshman year at NYU in CAS, and wanted to transfer to UNC CH mainly for campus. I am planning to major in applied math and cs . Would I be missing out on any high finance opportunities specifically on S&T at banks, HFs , and Quant being t UNC. While I am not at Stern, NYU...
Why do SMs exist?
MM is better alpha (100pct alpha in fact) PE is better return w/o volatility (tech funds are down in publics but privates haven’t been hit at all) index funds outperform almost all HFs
Thoughts on Eisler capital
Does anyone here know something about Eisler Capital. Apparently they moved from a single manager to a multi manager model a few years ago and are now hiring aggressively. Any insights on performance, pay, systems, culture? Where do they stand compared to the more established MMs like Millennium,...
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MFin/MFA/MFE for HF recruiting
Hi everyone, I am seeking advice in order to maximize my chances of getting a position at a hedge fund. I'll share my background: - Bachelor in finance + master's in management in Europe with a great GPA - 1 year in IB in Europe I now wanna break into HF in the US and I wonder what would be the best...
When do you cut your analyst position?
Say your analyst recommends a stock long and it goes down 5% in a week (and their hedges or the rest of sector/market is flat) and they can’t explain why. Do you underwrite the position again? Have them explain why the stock moved? Or chalk it up to noise/ST flows? Maybe 5% is too high or too low...
How to become a PM at a Hedge Fund
Hello monkeys, I am a student at the University of Minnesota. I am trying to decide weather I should major in finance or econ to eventually work at a HF. I know its a non target but I want to know on the best way to get into a HF. First what do you think I should major in? Econ is what im leaning...
HF vs GE (
I’m a few interview processes (multi-strategy large hedge funds and desired sector-focused growth equity think similar size to Spectrum equity). Realizing they’re two completely separate exit opps and it should come down to industry preference, what do both of those look like on a comp, work...
Whose fault is it?
As a PM if I disagree with analyst (eg they recommend a stock and I don’t buy because my PM friend dislikes it, or they recommend trimming and I don’t listen) and they turn out to be right (stock goes up or misses earnings/tanks), how do you attribute fault? one view is that the analyst did not...
Jr vs senior analyst
How does it work for SMs that don’t have the analyst/associate layer that citadel or a platform has? Do jr analyst report up to senior analysts, or is it flat where they all report to the PM/founder? Advantages/disadvantages of the layered vs. flat structure? In a flat structure what...
Do you have a mentor? How did you find them?
For background I am finishing my first year of university and looking to break into the HF industry but not really sure what the best route is, so trying to find someone willing to mentor me. I was wondering what your experiences were with mentorship, how you developed the relationship, and what...
Decks/memos
How often do you or your team work on memos for new/ongoing investments? Have heard of initial memos of 100+ pages and on the other extreme no memos because it is just walking through models and inputs. Would imagine the former more common for SMs and latter for MM but curious what people styles are...
Interviewing unemployed analysts
Is it common for unemployed analysts (who left their old firm because of culture, fit) with a good reputation to be selective in who they join? I would have thought these analysts would take anything they can get but hear stories of them rejecting interviews, final rounds etc because of stories of...
Why are ppl impressed by 15% returns?
People talk about big HFs w/ 10-15% returns. How is that impressive in any way especially considering leverage and data used? I have friends who invested with a lot of AI stocks, FANG, stuff like GME, that are up 100-300% this year and basically made more than some of these big hedge funds over 10...
Strategies for Achieving $1 Million Monthly in Finance
If you were back from the beginning of your career in Finance and had a goal of making $1 million a month at some point in your life, how would you approach it based on what you know today? I was thinking of the following options: 1. get equity in one or more PE deals or privately seek deals on your...
Typical HF Intern Hours. What Should I Expect?
I was looking at previous forums for this, but was wondering how much hours I should expect a week working as an intern in SS at a fund in NYC. They said we should expect a 40 hour workweek, but I wouldn't mind putting in overtime (especially given the 1.5x), and would like a better sense of both...
Good “low key “ SMs
What are good $2-5bn funds in SM world with good returns/culture/investment process? Looking for funds outside big names ppl talk about there
BB Structured Credit Trading vs HF Quant (non research)
Hi Guys, Currently a sell-side quant (very bored with his job), I have been quite lucky to get two offers: one as a structured credit trader at my bank (top BB), the other as quant dev (so not researcher, at a good but non-top HF) with the promise of being able to transition to quant research in 2-3...
MMHF perf YTD
I havn't seen figures about MMHF YTD performance in this forum or on BBG. Could you guys give me an idea? In order to start contributing, I know from internal sources that MLP is flat YTD. What about the others?
Multi Manger Pod Portfolio Number of names
Hi - Simple question - for those running or working in pods in typical market neutral multi-manager platforms like Citadel, P72, Millenium, etc., - what is the typical number of names in your book on long vs short side and usual average size as % GMV with max/min limits? Thanks.
Pros & cons of jumping to PM from senior analyst / sector head role?
Hey all - how do you guys view the pros & cons of making the jump to a PM role from a senior analyst role? I'm more referring to being at a MM with P&L allocation (call it $200-$300mm in your names) as a senior analyst / sector head (with an agreement with the PM on payment terms) and making the...
Why do investors care about stupid stuff?
Sometimes when you speak with investors they focus on stupid minutiae like customer concentration, valuation with lease adjustments (wtf?), SBC and other crap. If the only thing that matters is whether they beat earnings or not isn’t that useless? 80/20 focus on what makes stock up or down! Not...
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