The Wall Street Oasis Hedge Fund Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the hedge fund industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate ...
|0||3 months 1 week ago|
I've heard a fair few stories of Hedgies having start up businesses on the side whilst working. Do you guys run any businesses on the side or know anyone who does? If so what type of business is it? ...
|17||9 min 5 sec ago|
Does anyone know of any Chinese-American background or asset managers in the USA? I'm talking about Chinese-American heritage managers, Chinese background but who grew up in the USA? How come I can't find one? Is this due to racism? *Do not tell me there are Indian PMs - Indians are not the same as ...
|10||2 hours 14 min ago|
Over the last 12 months, we have made a big effort to improve our hedge fund interview prep package by bringing to you relevant webinars with interview advice and actual investment pitch walk-throughs...I think for those of you that don't watch the webinars, it would be helpful to give you a brief s...
|0||4 months 3 weeks ago|
It's not very common for IB analysts to get CFA, but I heard it's very helpful in recruiting and want to at least have level 1 for the coming year. I'm thinking about asking my boss to see whether my team can sponsor it - but my concern is that it will be perceived as I have some "capacity" and inst...
|0||13 hours 12 min ago|
I realize that most of the people on this forum are on the sell side, they run or work at hedge funds. Coming from the other side, someone like myself who is looking to invest some money in hedge funds, where is a good place to start finding top performing funds? A Google search of "top performing h...
|22||13 hours 16 min ago|
What professional backgrounds are today's and tomorrow's top global macro minds coming from? And how much does the environment backdrop help explain this? Pretty simple question, but I think it's interesting to note the following trends for context. The first generation of global macro investors (e....
|14||1 day 13 hours ago|
Saw that Mattress Firm (MFRM) popped 100%+ on take-out proposal this morning. The company had a 40%+ short interest, and on its face, appeared to be a decent short (highly levered, specialty retail, declining margins, cyclical business, continued integration pains, etc. etc.). Clearly a huge loss ...
|22||1 day 14 hours ago|
Hi Guys, I have a very basic question on how much capital is tied when a fund is short a position, and I am hoping someone here can help. In theory the cost of shorting should be very minimal since you are only paying for "renting" the stock that you are shorting, so in effect if you have say $100 o...
|6||3 days 1 hour ago|
When ever someone asks me what I want to do after a school I reply with working in a Hedge Fund. I get about 3 responses a. What the fuck is a Hedge Fund? - I then tell them and they look at me like I'm some sicko and say how boring b. Your a money hungry bastard! I wanna hear what responses you gu...
|54||3 days 5 hours ago|
Hi - I was hoping to get some advice; I am seeking to break into the buy side but my background is pretty unique so I am having a hard time going about it. I'm a lev fin lawyer by trade, but I work with an organization that works directly with many buy side shops, including some of the biggest. I ha...
|5||3 days 8 hours ago|
What are your thoughts on firms recent decisions to lower management fees due to week performance? Och-Ziff, Third Point, and Aurelius to name a few... ...
|3||3 days 18 hours ago|
Not looking in particular for prop shops or small funds...Are there any notable HF out here with a more quantitative slant? Looking more towards a research role but not too familiar with the area. ...
|1||3 days 22 hours ago|
Hedge funds are cutting fees, because even the great investors are not doing well. The 2 & 20 was based off of the first 8 managers returns and now everyone is starting a fund and killing the industry. What do you keyboard warriors think? ...
|0||4 days 2 hours ago|
Hey guys, I currently work at a Fund Admin and do operations work for bank debt. I've been here for about a year and am currently trying to get into the Hedge Fund side. I've been talking with a few recruiters, and they keep telling me about opportunities they have open. I haven't heard back from th...
|9||4 days 10 hours ago|
Hi folks, all in the title. I am an aspiring Rx Practitioner looking for specialized media to follow. ...
|5||4 days 10 hours ago|
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 wo...
|34||5 days 4 hours ago|
Anyone work in operations at a hedge fund? What are salary expectations? Environment is demanding, talent pool is top tier schools, firm is a top hedge fund. ...
|10||5 days 11 hours ago|
HI guys: what career in finance /ivestment is good for people who are not "people persons"? Are any areas of private equity (such as distressed /special sits) still reachable? What about HF? In general, where might people who are not "people persons" find their best fit? Thanks ...
|1||5 days 12 hours ago|
Im really interested in learning more about finance and investing. What are some things I can do to practice and just improve my skills over the years? Any book you reccomend picking up that shoudlnt be too hard for someone with not that much experience? I want to get into ib after college and event...
|6||6 days 1 hour ago|
We are finally here! For those of you waiting on the WSO Hedge Fund Interview Guide, thank you for your patience -- it has been a long process to get to this stage. Unlike investment banking or private equity, the hedge fund universe is enormous, so we really had to spend a long time drafting the ...
|6||6 days 6 hours ago|
Hi, I am deeply interested in working for Baupost in the future. I am currently doing my MSc. in Mathematics at one of the 5 best universities worldwide. I also have two years of work experience at a value investing fund in Switzerland (unfortunately no own research yet). Mathematics is probably not...
|0||6 days 19 hours ago|
Guys, Just found that Citadel Commodities rolled out a "junior talent program" for undergrads earlier this year. Was curious about if any of you has more info regarding the program and how the recruiting process went this year. Thanks! ...
|2||6 days 22 hours ago|
Please help! I am employ by a China Financial Futures exchange company, will provide the investment fund seeking a U.S company who can provide and managing the HFT trading software strategies and techniques for a Joint ventures? Anyone have any idea? Please help. Thank you! ...
|0||1 week 8 hours ago|
This might sound stupid on the surface, but I don't think insider trading is morally wrong. The stock market isn't a zero-sum game where in order for there to be winners, there must be losers, right? If that's the case, isn't it a victimless crime? Now obviously I'd never do it if given the opportun...
|3||1 week 12 hours ago|
Have lurked on WSO on-and-off since pre-crisis days. Reading the material on here helped me get my first internship - time to give back. Happy to answer anything and everything. Quick background below. - Beginning third year as investment analyst at a $5B event-driven / distressed debt fund - Inves...
|100||1 week 20 hours ago|
Hi guys. I'm currently 16 and a year away from leaving school. I want to pursue a career in Hedge Funds since I really enjoy learning about financial markets and investing. I live in Australia which amounts to nearly fuck all in the Hedge Fund and AM industry. However I have interned twice at a Hedg...
|14||1 week 23 hours ago|
As the topic says, I work on the research team at a medium sized ($10B) energy specific AM on the west coast. My goal is to one day work as a generalist at a L/S value HF in NYC. I'm almost 1 year out of my UG (semi target) and a level 2 CFA since June. My question is two fold: 1) how competitive...
|0||1 week 1 day ago|
I work in wealth management currently and am curious about how to make a career change to hedge funds. ...
|5||1 week 2 days ago|
Anyone know of any resources/databases to prepare for an interview like this? I want practice for these sorts of things before it's too late ...
|0||1 week 3 days ago|
Hi guys, I came across an interesting article yesterday in the WSJ talking about hedge funds starting to make their way from the original fundamental strategies over towards quantitative, algorithmic trading strategies. I wanted to start a discussion and see where people stood on this topic. It dis...
|2||1 week 3 days ago|
Just curious for comparison... My PM basically works analyst banking hours and and I'm trying to determine if this is the norm or if he is just a masochist. I work at a large multi-strat for reference. ...
|21||1 week 5 days ago|
I posted the questions below on an older thread but wasn't getting many responses, so wanted to put them out there on a new thread. These questions relate to a single issuer's bonds (not an index). 1) Assuming decent tranche size ($400mm+) and issuer isn't distressed, what would typically be the c...
|3||1 week 6 days ago|
|4||1 week 6 days ago|
Anyone here on the finance side of the art industry? I have been interested in this topic as of late and am struggling to find any detail on it, other than a few articles online of a shop or two. Another user posted on the this on the Jobs forum but it didn't get much attention: http://www.wallstree...
|3||1 week 6 days ago|
does anyone have any information they could provide me on FSI group? anyone work there or know someone who does? I've read their website, just trying to learn as much as possible ...
|1||1 week 6 days ago|
|0||1 week 6 days ago|
hi guys - what do people think of joining a start-up fund as an analyst from IBD? the positives for me are: - potential greater learning experience as team much smaller - better chance to network - larger upside main negative is obviously the chance it goes bust. does anyone have any tips when doin...
|0||2 weeks 6 hours ago|
Hey fellow WSO monkeys, looking to be a rather long post, but any and all advice is much appreciated. Background- Keeping brief to try and save y'all time Going into 3rd year of college (non-target) but have teachers who teach at targets w/ a few connections Mediocre 3.7 GPA, will be over 3.8 by the...
|0||2 weeks 8 hours ago|
Some of today's Hedge Fund Managers are so bad they shouldn't even be handed a demo account. Bill "the destroyer of capital" Ackman, is down more than half a Billion $ since Brexit only, One of his notable achievements recently is holding the worst performing stocks, including a couple that failed t...
|36||2 weeks 1 day ago|
Just trying to learn more about corporate finance in general, but anyways I'm meeting w/ an alum next week who's a principal at Deloitte. I looked into their programs for undergrads, and granted I've seen some people on LinkedIn w/ profile descriptions as "IB analyst at Deloitte." I'm mostly curious...
|0||2 weeks 2 days ago|
Upcoming interviews with Citadel Global Equities. Has anyone gone through the associate interview process and could share insights/tips on structure? In person interview with Analyst and recruiter. Thanks! ...
|7||2 weeks 5 days ago|
The CFO of my company was explaining their investment process to me. He said for the last 10+ years the company decided to go with quant and technical analysis. He said one of the main reasons is that it takes the emotion out of investing. I'm new and currently in a back office spot so I dont know m...
|14||2 weeks 5 days ago|
Does anyone have any info on what to expect for an interview at Angelo, Gordon & Co? Any help would be greatly appreciated ...
|0||3 weeks 3 hours ago|
I am curious to know the pros and cons of these two very attractive alternatives: 1. Hedge fund prop trader- this would be a small team managing a small pool of money on a more or less discretionary basis without extremely sophisticated support. 2. Buy side (hedge fund included) portfolio manager- a...
|2||3 weeks 9 hours ago|
Hi monkeys, Currently a rising sophomore at a top 50 non target in the South. Doing an IB summer analyst spot at a small boutique this post-freshman summer that I leveraged through an alum at a nearby school who ran a small shop in my hometown. Anyways, to the point. Long term goal is to either bec...
|1||3 weeks 13 hours ago|
Anyone have a list of currency trading firms in the Boston area? ...
|2||3 weeks 15 hours ago|
While working at a sizable HF makes you more money than almost any desk job in the world, it is not going to make you truly wealthy unless you get made PM, which is highly unlikely. The path to true riches lies in starting your own successful HF. Becoming truly wealthy from either starting a HF or a...
|1||3 weeks 1 day ago|
Guys, I have heard some ridiculous numbers being thrown around, as long as 6 - 8 months to go through a hedge fund interview process. Just want to get a sense of what the "average" is. If you are currently at a HF, can you please share how long your interview process was ? ...
|3||3 weeks 1 day ago|
Are there any other ways to take a short position on a corporate bond other than buy CDS against it? Can you actually "borrow" a bond and sell it? Sounds risky and expensive considering the coupon payments, so wasn't sure if there is even a market for that. ...
|39||3 weeks 1 day ago|
It looks like things are heating up once again at the world's largest hedge fund as allegations of a bit of sexual deviance come to light. Christopher Tarui, a 34-year old employee at Bridgewater, recently filed (and then withdrew) a complaint against Ray Dalio's behemoth of a fund, calling it a "ca...
|8||3 weeks 1 day ago|
How much difficult is it to go from BB IB coverage to HF if you're not from a well-known school? Yummy's SB's for helpful answers :-) ...
|4||3 weeks 2 days ago|
Does anyone know how a first year analyst at a CLO shop might be compensated relative to other analysts in the industry? ...
|9||3 weeks 3 days ago|
Hi there, for those of you working at distressed & credit funds or have worked there, could you shed some light on what people do after (if) they leave their jobs? I know that most people just stay in the industry or even at their current firm, but I was wondering what other opportunities arise ...
|7||3 weeks 3 days ago|
hi guys, the boy is back in market after a long period of saving capital doing 9-5. It' feels good to be back. O the subject, yes. I turned my live $4000 account into $44K with over 5500 trades (ROI - 1000%). Yes all within 1 month. You think goldman boys can produce this "without algos" i think no...
|95||3 weeks 3 days ago|
Has anyone gone through Citadel's Global Equity interview process and could share some insights on structure / content? Happy to revert back to the group in a bit once my process has ended. Thanks! ...
|8||3 weeks 5 days ago|
I'm a rising sophomore at a target school (HYPS) and I'm looking for an internship for next summer, preferably in a hedge fund. I have a couple of questions about networking/landing the internship that I'm unsure about. 1. Am I out of my mind to think about breaking into a HF right out of college? I...
|8||3 weeks 5 days ago|
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 bee...
|0||3 weeks 6 days ago|
So I am hoping to double major in Finance and MIS, but am wondering if that's a good idea. I am really striving to jump right into hedge funds and think that MIS ( Management Information Systems) would help with possibly researching and analyzing/organizing important data for ideas while also helpin...
|7||3 weeks 6 days ago|
Hi there. I graduated with a degree in economics from a non target school. Worked a year as logistics associate at a brewery and now I am looking to get into investment/hedge fund after reading my boy Ray Dalio's book. However, a degree in economics didnt really teach me anything about investment at...
|4||3 weeks 6 days ago|
This site is run by a poster on these forums but I think this post deserves attention because it is well written and includes a good looking Excel model. The layout and example are both simple but that will make the most sense for the most people reading the article. edit - link seems to fail someti...
|12||3 weeks 6 days ago|
I currently work on the sell side doing Equity Research. One thing I have noticed is that management teams don't want to meet with funds that short. Management is generally considered to be a good resource for investors/buy-side and can sure up someones' investment thesis (or destroy it). So, I was ...
|17||3 weeks 6 days ago|
Hey WSO, I'm interested in learning how financial markets and the overall economy work together. For example, I'd like to better understand the fundamentals of all markets and their relation to the overall economy. I have been trying to gain an intuitive understanding of how economies work, but the...
|9||3 weeks 6 days ago|
One of my favourite quotes from Liar's Poker was "you have to be smart to get rich trading bonds, but you have to be fucking smart to get rich trading equities" (may not be the exact wording but that's the basic idea). And it seems to me that this could still hold through today - equities are surely...
|19||4 weeks 3 hours ago|
Hey guys, so I'm sophomore college student in New York (not going school in city tho). I just finished my assistant role to senior analyst at L/S fund. I run models, covered earnings call (doing it now still), do research for the firms and industries that Senior Analyst asked me to do, and present i...
|1||4 weeks 6 hours ago|
Title says it all. What is typical way someone from a bank (or elsewhere) can gain the skill set to get into a securitized products hedge fund? Obviously traditional IBD would not help much since you do not deal with these products. There is CLO/MBS trading but do these desk do fundamental analys...
|3||4 weeks 7 hours ago|
I understand that it is still quite early to be considering this, but I was curious about the process of reaching out to headhunters early on. I'm a first year analyst at a BB in ER, and was wondering if it would be a good idea to reach out to/network with some recruiters just to touch base and get ...
|10||4 weeks 8 hours ago|
Hi Guys I'm doing a study at the moment into stockbroker stress, hedge fund stress and high earning upper management execs stress. My study is focusing on high earners PS150,000 plus. Could anyone on here answer the following questions. I'm particularly interested in the conversation going on in the...
|0||4 weeks 11 hours ago|
As you all know, the hedge fund industry isn't doing too well. Poor performance, insider trading investigations, and the closing down of some large funds are topics that keep popping up recently in the news. Another problem that few people talk about: All the money is going to a handful of funds, it...
|1||4 weeks 1 day ago|
I have been gathering information on multiple IB internships and I ran across an article suggesting that interning at a HF is more beneficial for people trying to work on Wall St. Is there any truth to that? Also, do the banks care much for prior military experience if it is not relevant to the ana...
|0||1 month 1 day ago|
Which fund managers come to mind that have a PhD? I have obviously ran the searches in LinkedIn etc., but the amount of managers who are registered there is somewhat limited. I am trying to get an understanding of the opportunities out there for PhD, what kind of investment styles they follow and ho...
|7||1 month 1 day ago|
Hi WSO, I wanna get a gauge on whether is it my time to strike out with my own HF. I'm currently in an established fund with shared track record. Envious of being the fund manager and CEO at 40 at my own place adds impetus to me starting on my own. My stats are: - Top undergrad target school. No mas...
|16||1 month 2 days ago|
Hi, Currently at small HF (think <$100mm) , doing TA responsibilities and some execution. Paid very low for industry standard and not much movement upwards / opportunity. I have an offer for BB MO - Treasury in a role that would involve funding execution as well as forecasting and risk manageme...
|7||1 month 3 days ago|
Bit of an odd situation + not too much on here about this, hence my post-here goes: Background: 5 years out of undergrad, studied poly sci at an ivy 3.5 GPA. Worked at a start-up for 3 years (think big data (clinical trials/regulatory info) for big biotech and pharma), currently do healthcare sell-s...
|3||1 month 3 days ago|
I am looking for hedge funds that partake in secondary offerings of all sorts. A list please ...
|2||1 month 3 days ago|
Do these programs regularly place into top quant funds (Two Sigma, Shaw, etc.)? Also, would doing an MFE/Mfin straight out of undergrad allow you to go straight into a HF? ...
|5||1 month 3 days ago|
The numbers that have been seen coming out of a hedge fund all the way down in the Atlanta area are quite surprising given the recent performance of the hedge fund industry. Annual returns of 13%, 24% and 91% since 2013 The fund is called Arjun LP and the man behind it is Joseph A. Meyer Jr. Meyer...
|2||1 month 4 days ago|
As far back as I remember I loved picking stocks and doing "Hedge fund work". The more I studied though the more i began to believe that markets are efficient to the point where and I now feel stupid even looking for a job in the hedge fund industry. It doesn't help that hedge funds have been laggin...
|71||1 month 4 days ago|
Hi all, in the next week, i may have an informal interview (networking) with a PM (moderate balanced fund). I wrote about my passion about the market in the email, but now i'm asking which technical question i could ask me (valuations, statistics, stock pitch)?. And I should find out what he wants ...
|4||1 month 4 days ago|
I'm a rising sophomore looking at working at a hedge fund in the energy space ideally next summer, but also long term - I'm trying to assemble a list of top funds (or teams of larger funds) in the space - can anyone recommend any to check out? (There are a few threads on WSO about this, but I've fo...
|14||1 month 4 days ago|
Point72 offers a program known as the Point72 academy (https://www.point72.com/careers/campus-point72-aca...). It is essentially a 15-month crash course for college graduates to the buy side. I was wondering if anyone is aware of any similar entry level programs that the big asset managers/HFs offer...
|3||1 month 5 days ago|
I know hard work is an obvious one for but maybe something less obvious like attention to detail critical thinking eg ...
|5||1 month 5 days ago|
Did A search and there's some info on here but it's mostly dated. Anyone have info on some of the major players? I know of Highland, HBK, Carlson - any other big ones? ...
|5||1 month 5 days ago|
When I did my AMA thread a while back I promised at least one person that I would share my general research process. So here you go... Every analyst has his/her own way of conducting due diligence. There certainly is no one correct way to come to an investment decision, however, I'd argue that ther...
|139||1 month 5 days ago|
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 fun...
Straight To The Pros
|1||1 month 6 days ago|
I had an interview with a hedge fund (was looking for experience). Got burned pretty badly. I won't name names or specifics publicly, but it wasn't a typical hedge fund interview - and the guy was easily the most arrogant person i've ever. Barrage of questions (not finance or pure-logic) over a span...
|13||1 month 1 week ago|
Hi, if I want to run my own shop one day but wanted to establish a track record to show investors, what would the best way to get about that be? Currently a CEO in the biotechnology field but I'm absolutely fascinated by equities. My goal is to build a reputable track record. What steps should I tak...
|11||1 month 1 week ago|
Hey folks, I am currently a first year associate in a securitization/structuring role at a mid tier investment bank (Jefferies, RBC,..). I'm interested in moving to a buy-side role and recently networked with a High Yield PM at a big asset manager/HF. I was called back for interviews with his group....
|0||1 month 1 week ago|
Hi All, I've been taking a look at tail risk hedge funds and from what I understand, the few tail risk hedge funds that exist are 'long volatility' which means they are purchasing long dated out of the money put options. This is because they're looking for a tail risk event where markets collapse an...
|8||1 month 1 week ago|
I'm still in high school and I am thinking about attending the school IDC Herzilya. Anyone know anything about the school if it's good or not? Since it's foreign (in Israel) will I be able to come back to America and work on WallStreet? ...
|1||1 month 1 week ago|
The recent Brexit vote has made everyone question a lot of things. With some questioning their understanding of the EU in general, other people, especially people in the finance industry are questioning their whole positions in the European market. Fund managers in the UK, which happens to be the l...
|1||1 month 1 week ago|
Currently in talks with a headhunter for a HF, and they are asking for an attribution/track record. If I have none, what should I say? (currently an IB analyst, so no history of investing for other people) They are also asking for a sample strategy, so how far in depth should I go about outlining a ...
|2||1 month 1 week ago|
Fitting that the day I finish the popular book Flash Boys (yes I know I'm behind on this) this news come by my desktop... James Simons and Renaissance Technologies has recently filed a patent for outrunning speed crazed traders through executing synchronized trades in multiple exchanges. The inventi...
|1||1 month 1 week ago|
The title says it. Overall, what would you say are the top 10 current Hedge Funds. Looking forward to seeing people's top 10 picks. ...
|2||1 month 1 week ago|
|5||1 month 1 week ago|
Between a CMBS banking role (i.e. interfacing with loan sellers, NRSROs, etc.. to bring a securitization to market) or a CMBS structuring role (i.e. modeling cash flows based on NRSRO levels and various b-buyer stipulations), which is better to ultimately make the move to a credit hedge fund? Secon...
|1||1 month 1 week ago|
How does trade volume compare between Asset Managers, Hedge Funds, HFT, Investment banks (S&T). What is the position size of each institutions trades? How do you see these institutions trade volume evolving over the next 5-20+ years? I have heard HFT firms trade upwards of a billion per day on s...
|0||1 month 1 week ago|
I've roam this forum for a while and I've seen many people say that hedge fund and investment banking is dead. People keep saying that start up is the new way. Due to my ignorance, I do not know what you guys are referring to. I'm pursuing a finance career. How do I break into these "start up" ? Wha...
|2||1 month 1 week ago|
I've been told by a lot of bankers to look out for some smaller PE/HF opportunities as a sophomore because they tend to be easier than bulge brackets. What are some HFs that have sophomore programs? ...
|1||1 month 3 days ago|
I'm an Infantry Officer in the US Army, about 1 year out from the end of my term of service. Looking to go to an M7 MBA program next year, and eventually make a move to the hedge fund industry. I like the fact that investing involves doing in-depth analytical research in order to make contrarian be...
|19||1 month 1 week ago|