Would you choose Hedge Funds all over again?

I'm just out here looking for opinions from actual people working at a Hedge Fund. In regards to finance career paths, if you had to do it all over again, would you still go the Hedge Fund route?

For me, I'm a college student just waiting for my turn to break in. Lately, I've really began thinking a Hedge Fund is the right route for me. PE sounds really nice and also sounds like something I would really like, but it isn't the same. I LOVE the markets. I am extremely passionate about investing and a HF just seems to be the more desirable route for me.

So, out of curiosity, would you do it the same if you did it all over again? I really am looking for some inside experiences or opinions on why you love/hate working at a Hedge Fund and what you would do differently or the same if you had to do it all over again.

MSF Class of 2017

With the MSF recruiting cycle quickly approaching, I thought it would be helpful to create an updated MSF thread for everyone applying to the 2016-2017 MSF cycle. Feel free to post questions for this years upcoming applications here. I will answer what I can. Good luck everyone!

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2015 MBA Application Thread


So who's struggling through R1 apps like I am? Trying to find the time between my 70 HR week, my needy GF, and life's general bullshit has been tough but I'm through a few first drafts of essays and have my R1 school schools down to Harvard, Wharton, Columbia, Booth, and Sloan.

Who else is going through the process? Where you at? How's it going? How much do you hate bullshit essay questions like "introduce yourself"? Let's all commiserate here.

Who Taught You Math???

Mod Note (Andy): Best of Eddie, this originally was posted on 11/29/12.

We. Are. So. Screwed.

It's no secret that the educational quality in the United States has been on the decline for well over a decade. But I had no idea exactly how far we've fallen in real terms. That is, until I read this Psychology Today piece about a recent survey of the math skills of college students in the US. And then I threw up in my mouth a little.

How bad is it?

In an interview one student was asked if he could think of a way to check whether 462+253 = 715. He smartly subtracted 253 from 715 and came out with 462. So far so good. But when he was asked whether he could have subtracted 462 from 715 instead, he said he did not think so. He had been told in school to subtract the second number from the bigger number, not the first. It appears he was just following a memorized script.

In This Business, You Need A Hobby—I’m A DJ

Mod Note (Andy): WSO readers qualify for a $100 discount to Jared's Daily Dirtnap daily market newsletter...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap.

Things are okay now, but I got shithoused in the LEH bankruptcy. My stock went to zero, I had no income, and my portfolio got cut in half. Those were dark days.

I vowed two things:
1) To never put myself in a position where I could lose it all again, and
2) To have some fun for a change, for crying out loud.

Seriously. I had just spent the last nine years trading and didn't do anything fun. I went about 3-4 years between vacations once, without even taking a day off. When I got home at night, I would get right on the Bloomberg terminal. On the weekends, I read financial books.

All that dedication has paid off, but it was a crummy way to live.

Apple Event Sept. 9, Thoughts?

Apple announced today that they will hold their next major event on September 9. The next iPhone will most likely be released, and Apple may also have a few more announcements to make. The iPhone 6S is next in line, and if Apple follows its release trend, it will not have any design changes but only minor hardware changes.

Given the recent swings in Apple's share price, do you think this product release will bring it back up? Is there anything you think Apple MUST do to ensure future growth? How important is it to foster growth in China given recent problems in the region? Any other opinions feel free to share!

Why YOU Aren't Converting Your Interview - DCF Example (No Math)

Inspired by the "Why YOU Aren't Getting Offers" repost for #TBT.

I just participated in a series of interviews and I was sincerely disappointed. I was asked to cover the technical portion and no one could walk me through a DCF well. While I am going to talk to the people who referred these candidates (and also make note of the quality of their referrals), it occurred to me that often candidates don't realize or get clear feedback on why they didn't move on in the process (interviewer has no upside, potential legal nightmare, against policy etc.). Yes, there are always "better candidates", but there are some very common (and highly fixable) problems I see way too frequently. Perhaps that's the frustrating part, because I feel like these are things that are very easy to prepare for.

It's not just about getting it right, but presenting it well.

Let's use an example of DCF because it is standard / plain vanilla / middle of the fairway. You will get this question for sure at some point. You should know this cold. It should be polished. There is no "but what if I sound too canned" debate. I have never heard anyone sound "too canned" on something like this (or anything for that matter). I HAVE dinged people for just regurgitating when it is clear they don't really understand what's happening.

Rewind - MSF to Banking Transition + Q&A – 8am ET, 8/28/2015

In case you missed our July 28th webinar entitled MSF to Banking Transition, have no fear. The full recording of the webinar will be available for free on the WSO homepage on this date: (free for only 24 hours and then it goes into our Video Library). Do you want to a 1 on 1 mentoring session with Paul? Click below:


To see the original event page with a description of the webinar and read more information about the presenter click here.

All rewinds will be available everyday at 8am ET.

And, as always, if you want to sign up to hear about upcoming webinars before they happen, sign up inside the post...

August 28, 2015 - 8:00am to August 29, 2015 - 8:00am
Event type: 
WSO Webinar

WSO Weekly Wrap-Up (8/22-8/28)

In case you missed them, here's some of last week's most popular topics:

Random Musing on Mr. Market
Post By @Mr. Pink Money

I work 2 weeks per year and worry during the other 50 weeks. What you do/recommend during meaningful volatility will have a bigger impact on your career and credibility than what is done during periods of stability

Whats everyone's obsession with finding a job with purpose or fun?

I mean to want a job with purpose implies you think your life matters compared to everyone else who is simply a statistic and that you have to do some grandstanding thing with your life.

Then with the whole fun issue, I don't see why work has to be super fun. Have work be work and use the quality of life gained from that work to do something you enjoy.

Am I wrong in my line of thinking?

WSO Investment Banking Resume Template for College Students Released to the Public!

Big Announcement: WSO Resume Template is Out in the Wild!:

Mod Note (Andy): If you're looking for our resume for experienced IB professionals or a private equity resume template, click here..

For those of you looking to make sure your CV format is clean and make sure that your investment banking resume is polished, we have a great sample resume you can now use free of charge (attached to this post below). We know how competitive internship applications and summer analyst positions are nowadays, so we're hoping this gives you an even bigger edge in recruiting.

After seeing members consistently reference other resume templates in the public resume review forum (that are good but inferior in our opinion), we have decided to release the WSO resume template for free to the public. This is the same CV template we use in all of our the WSO resume reviews with experienced finance professionals.

So, Is Ashley Madison Run by an Adultery-Hating Genius?

According to this person's (extraordinarily interesting) analysis, virtually no Ashley Madison users were actually women, from Gizmodo [link inside post]:

Out of 5.5 million female accounts, roughly zero percent had ever shown any kind of activity at all, after the day they were created.

Ashley Madison took money from 31 million male cheaters, gave them virtually no opportunity to actually cheat, and then charged them to cancel their accounts. Staff apparently spent a lot of time creating fake profiles to lead the male cheaters along and to waste their time. In addition, the site promised to delete user information upon cancellation, something that they clearly failed to do, which has no doubt f*cked tens of thousands of would-be cheaters.