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||9 months 1 week ago|
Have scheduled an informal interview for summer internship with a PM at this small opportunistic l/s HF. The fund is pretty flexible when it comes to allocating their capital and uses macro themes and special situations (e.g. M&A arbitrage) to generate returns. I cold emailed the PM (shares the ...
|0||4 min 9 sec ago|
Have a write-up that's a contrarian short thesis on a mid-sized tech company. Happy to share via PM to anyone that's interested. Would welcome any and all feedback / critique! ...
|38||3 hours 22 min ago|
Hello guys, I'm an Economics graduate from the University of Iceland. I thought I'd share with you some information that I believe has never been made public before, at least not in English. It's a story about some brilliant investments that made a select few hedge funds A LOT of money. This post wi...
|38||16 hours 40 min ago|
Hey everyone, I've been a long time user of this site, which was instrumental in getting me to where I am today. If it weren't for the help of everyone on here I certainly would not be in the position I am in today. I've been meaning to do this for a while but I would finally like to give back to th...
|75||18 hours 58 min ago|
Hello All, I've been working for an emerging manager in the LitFinance space for over 5 months now and I raise capital on the west coast where I speak with SFOs/MFOs as our fund offers a great income component between settlements which seems to attract this investor group. I just have a few question...
|0||23 hours 45 min ago|
ValueAct's Jeff Uben spoke out against hedge funds activists in a recent conference: "These guys don't know anything about shareholder value," Ubben said during a panel discussion, referring to what he called certain "wise guy" hedge funds that make short-term bets on companies while doing little r...
|2||1 day 1 hour ago|
There appears to be some demand for an HF AMA, so here goes... I believe this will be a communal effort with several people contributing, including myself. Briefly about me: I have been in the mkt for almost 15 years, always specializing in global rates. Currently, a PM in a reasonably large macro...
|141||1 day 2 hours ago|
Newsbrief: Edinburgh-based technology company Codeplay, best known for its Offload game acceleration and optimization toolkit, has been nominated for a Scottish Business Award.The company's Offload tools have been nominated under the New Product of the FIFA Coins Year category at the 2011 awards, wh...
|2||1 day 6 hours ago|
I am hoping to get some insights on structuring the compensation structure at our newly formed "hedge fund".. A quick overview of our setup: The family has recently had a liquidity event for our family owned business and have consequently setup the family office on the back of the event. The SFO is ...
|2||1 day 10 hours ago|
Hello. Has anyone done interviews with DE Shaw for London office? I went through telephone interview and also a "superday". Have yet to hear from them yet. Any updates from anyone? ...
|0||2 days 23 min ago|
Dear all, Glad to learn this forum. I am an applied math Ph.D and minored in computer science. I have been looking for the buy-side jobs for a while, but hardly find a match. I am really not sure whether it's because my skill set is not a good fit or the job markets prefer to the seniors. Or oth...
|7||2 days 11 hours ago|
Mod Note (Andy) - We're reposting the top discussions from 2015, this one ranks #17 and was originally posted 2/15/2015. The topic of getting hired at a hedge fund directly out of undergraduate compels many students. The response to the question: "Is it possible to get hired at a hedge fund directly...
|85||2 days 17 hours ago|
For those who haven't seen, Marcato Capital Management published an presentation laying out their case for a shakeup of Buffalo Wild Wings today. Marcato owns 5.6% of BWLD's shares. They're also asking for four board seats. While this one wasn't as good as Starboard's Darden piece (truly legendary i...
|2||2 days 19 hours ago|
I'm gonna be an incoming analyst at an EB in NYC, and I'm interested in eventually moving to a hedge fund rather than PE shop. I know that headhunters reach out to IB analysts, but it seems that the path to PE is much more structured. Can anyone shed light on the HF recruiting process for an IB anal...
|5||2 days 20 hours ago|
Hey all, I'm curious to know if anyone has had any experience with backtesting commodities futures data. I am working with a friend on a hedge fund competition where we have to compete with other university students in developing and presenting a trading strategy. We were inclined on developing a st...
|9||3 days 4 hours ago|
For those of you who have seen Showtime's new show, "Billions," I'm wondering what you think of it? It "borrows" a lot from the SAC Capital story and includes some corny moments, but overall I thought it was entertaining. Paul Giamatti and Damian Lewis are both good actors, if nothing else. If you ...
|50||3 days 22 hours ago|
Hello there, I've just acquired an another interesting book written by Mr. Soros, 'The Alchemy of Finance'. If any of you have read it (I assume some must have), what did you like about it, is it still relevant and, very importantly, what do you think about the theory of reflexivity in financial mar...
|9||4 days 37 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...
|1||5 months 3 weeks ago|
No, we are not the first to be involved in this Government backed program, but we are unique because we also acquire properties at a discount for our partners and investors, as we are specialists in the short sale market as well. We are one of only approximately 30 licensed vendors permitted to pa...
|0||4 days 23 hours ago|
Hi, Wanted to get peoples thoughts on the FinTech industry pertaining to Order/portfolio management System software providing services to Buy-side with Execution, Compliance, PnL, Positions, Accounting, etc. I have been looking at some positions within these types of software companies. Looks very i...
|5||5 days 11 hours ago|
I live in Houston and I'm going into my 2nd year of high school. I'm ultimately looking to prepare myself to live my dream and become an analyst in a medium to big sized hedge fund. I'm ranked 10th in my class out of ~660. I don't think I will be able to get into Yale or any of the main target schoo...
|18||1 week 14 hours ago|
So, I'm interviewing for an analyst at a HF, specifically for a group focusing on short selling. The idea is to have a group of analysts with audit/forensic accounting experience to help them select target companies. Have you guys seen this kind of arrangement before? Any experiences? I have no expe...
|0||1 week 1 day ago|
How much does knowing people in the industry matter for success in public markets? If I cover XYZ industry (say media), how helpful is it to know people in that industry? Obviously knowing more people is obviously always better, but I am curious whether anyone could provide color or a helpful anecdo...
|0||1 week 1 day ago|
Hey guys, My ultimate goal is to work in a multi billion dollar HF doing equity l/s, after doing an M7 MBA. I would like to ask people familiar with HF megafunds recruitment 3 questions re my next step: Is working at even a small fund usually better than working in sell side ER? I feel that the adva...
|15||1 week 1 day ago|
I've been lucky enough to get an offer to work at a really well-known hedge fund for the summer. Of the two teams, which will position me well for the future? Background: target school, previous experience in M&A. First time working in a hedge fund. Come from a mathsy, non-finance background and...
|3||1 week 2 days ago|
Activist shareholder's investment steps up pressure to turn around consumer-product company. One of the biggest activist investors has built up a more than $3 billion stake in Procter & Gamble Co., adding urgency to the consumer-product giant's efforts to turn around its business and boost its s...
|1||1 week 2 days ago|
Hi all, I have a superday (5+ interviews) next week with Point72 to join one of their teams as an analyst. For those who have gone through the process before, do you have any insight or advice as I continue to prepare? I've done the modeling test, HR screen, take-home case study, etc. I've spent the...
|0||1 week 2 days ago|
Understanding that the ideal training grounds for macro managers is the rates but backgrounds are varied, I was wondering how Generalists are looked upon in this day and age. Any Generalists around or anyone know of any BSD Generalists? Would love to learn a little ...
|0||1 week 2 days ago|
Like, what is the minimum amount you need to register as one? Im sure you can become one with a few million and a decent ECN. Im just having a little trouble finding the amounts each of the main Banks transact per day. If anyone here has worked in the FX industry i would be very thankful to hear of ...
|0||1 week 2 days ago|
I recently read an article which discussedthe fact that a majority of hedge funds may never beat the market again. The author's argument boils down to the fact that professional investors are more informed, more highly educated and more competitive than ever before. Yet they are all competing for a...
|5||1 week 3 days ago|
Just kidding, of course it is! Have a couple SB's if anyone can help out. How is the amount of stock based compensation expense reported on the income statement and the dilution impact affected by the share price of the company? Put another way, if a company's share price is increasing over one time...
|0||1 week 3 days ago|
I may be a dumb southerner who limped through advanced calculus like a wounded animal, but I spent a fair amount of time in college studying math and applied statistics. (I think it is amazing you can graduate from many institutions with a degree in finance, having memorized a bunch of formulas with...
|59||1 week 3 days ago|
Anyone here who does Asset Based Lending? Is this a good field to get into now? Do any HF and PE shops look for people with this skillset. How does ABL at a bank stack up to LevFin in terms of exit opps and skillset? ...
|7||1 week 4 days ago|
Hey! I've been reading this forum for a while and I've decided to ask you guys for advice. Let me introduce myself in just a few lines: I'm 27. Born and raised in Spain, now in NYC. Software Engineering MSc and Business Management MSc. Good grades, top of my class, a couple of awards. The schools ar...
|13||1 week 4 days ago|
I'm interested in learning about distressed corporate debt investing (like what Howard Marks does at Oaktree Capital). Can anybody direct me to any resources that go over the process in identifying, analyzing, purchasing and profiting from such investments? ...
|63||1 week 4 days ago|
Assuming one starting their ib analyst gig at a good west coast shop, are there ample hf oppurtunites in the west or is it mostly dominated by pe? Also is it realistic to work at a west coast hf for 2 years then go to hbs/wharton and transtion to an east coast fund? ...
|1||1 week 4 days ago|
I recently got laid off by my employer, a larger credit focused hedge fund. I though I'd create an AMA to clear up questions anyone may have regarding the hedge fund industry. I traded multi-asset classes included ig, hy, cds, clo's, mbs, and specialized in tech and healthcare industries. My backgro...
|109||1 week 4 days ago|
G-Research is often cited among the top quant funds in London, however it is hard to find more information. According to the following review on glassdoor from June 2014 they do not trade. "In terms of work culture, according to what I have heard/understood from HR manager, G-Research is not really ...
|0||1 week 4 days ago|
Hello, I'm an international high school student who got admitted to Yale, Princeton and Columbia for the undergraduate program. I'm having a tough time choosing between these universities. I'd like to work in HFs or PEs after graduation if that's possible (I'm not counting on it bc I know it's vv to...
|17||1 week 5 days ago|
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 ) ? ...
|18||1 week 5 days ago|
Hello all, Quick question about the CFA and hedge fund recruiting. I will be starting with an EB in June, and I am very interested in exiting to a public markets gig after my analyst stint. That said, I am wondering if taking the CFA Level 1 exam in December would be beneficial when it comes time fo...
|27||1 week 5 days ago|
A lot of funds (ranging from the Citadel/Surveyors of the world to smaller HFs) are known to put you in a room with no internet, stacks of K's and Q's and recent news and ask you to build a model & develop an investment thesis on a stock in about 3-4 hours as part of the interview process. What ...
|1||1 week 6 days ago|
Sorry for the title gore I would love to move to the US after my universities studies, now I know New York is the biggest financial hub in the world but what other cities have the most Hedge Funds? ...
|1||2 weeks 14 hours ago|
|25||2 weeks 1 day 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...
|43||2 weeks 1 day ago|
http://freebeacon.com/politics/chelsea-clintons-hu... The hedge fund, however, brought in a large number of investors hoping to cash-in on the firm's political connections. Eaglevale is not the first establishment linked to the Clintons that decided to shut its doors after the family was dealt a pol...
|1||2 weeks 2 days ago|
I've been a frequent reader of WSO for the past few years and I thought it might be helpful to anyone interested in a similar career path as mine. I definitely gleaned a lot from others here so hopefully I can answer some questions people might have. Background: 2nd Year Research Analyst at a top 5...
|21||2 weeks 2 days ago|
Hey, I've been searching for an internship at a hedge fund this summer with no luck. Can any of you recommend good shops that might take a sophomore out of a target school? Thanks ...
|1||2 weeks 2 days ago|
Good Evening, I am searching for advice if anyone knows any Hedge Funds in the DFW region that will hire straight out of undergrad. I'm currently a senior finance major and would love to get my foot in the door however possible. Thanks ...
|1||2 weeks 3 days ago|
Hello, long time reader and first time poster. I am heading into a Distressed hedge fund interview this Friday and am looking for some help. The fund has a pretty broad strategy - distressed, restructuring, for control, equity, bonds, etc. I have 4 years of HY experience, but very little exposure to...
|1||2 weeks 3 days ago|
Prime brokers offer what is called "arranged financing" which allows hedge funds to gain maximum leverage - more than allowed under the Portfolio Financing platform. I understand there is an element of stock lending where some or most of the Hedge Fund's long/short securities in the account are bein...
|0||2 weeks 3 days ago|
Trump policies are mostly inflationary and given value invest is more effective under inflationary periods could we see the resurgence of Value Investing? ...
|2||2 weeks 4 days ago|
Guys, After the traditional networking process (cold email, call, follow ups etc.) I have managed an Associate from one of the bigger Special Situations HFs (c. 20bn AUM) to push my CV for an internship position in their Group (actually he offered it to me before I could even ask for it, as he said ...
|1||2 weeks 4 days ago|
Hello all, If I were hypothetically fortunate enough to receive offers for FO positions at Cambridge Associates (prominent investment consulting firm) and a FoF like Grosvenor/Pantheon, which would you recommend I choose in regards to better Bschool and lateral exit opps? In regards to pre-B school ...
|1||2 weeks 4 days ago|
I am curious on what drew everyone else to the HF industry, rather than PE, IB, etc. And not "money" if you can help it! ...
|0||2 weeks 4 days ago|
Has anyone else noticed that competition in the HF industry right now is based heavily upon fee structures rather than performance? Seems like managers are currently differentiating themselves based not on how well their fund performs, but on how low a fee they'll manage your money for. Seems like a...
|0||2 weeks 4 days ago|
Title is pretty self-explanatory. Just trying to get a feeling on the specific procedures other firms are using in their analyses of companies (obviously will be quite variable). If you could provide a methodology and a brief explanation, that would be much appreciated. Thanks. ...
|0||2 weeks 4 days ago|
I have a big passion for investing and the markets (Most of my free time is spent on WSO and reading investing books, not trying to make it a look at me type thing), I live in Australia and would like to live in the United States for the first part of my professional career. The HF/AM/ER space in Au...
|0||2 weeks 5 days ago|
Hey All I'm wrapping up my first year on the buy-side and I'm using this platform as way to reflect on the past year. Happy to pay it forward to those that would like advice or have any questions. ...
|53||2 weeks 6 days ago|
Has anyone applied to D.E. Shaw and got rejected after the background check and reference stage?? ...
|12||3 weeks 3 hours ago|
Recently read this interesting article which claims hedge-fund managers with flashy sports cars make for worse investors. The article cites an experiment done a group of researchers from NYU, University of Central Florida, the University of Florida, and Singapore Management University which surveyed...
|15||3 weeks 7 hours ago|
Hi WSO, I have managed to get an interview at a mid sized discretionary global macro hedge fund for a junior analyst role (recent grad here). Does anyone already in the field have any advice on what to focus on in terms of preparation, what backgrounds/skillsets you typically look for in a junior et...
|0||3 weeks 1 day ago|
I know it's very common from going from BB -> Mega HF (i.e. Soros) I was curious on what everyone thought about going from ER (Macro / Fundamental) -> Mega HF ...
|11||3 weeks 1 day ago|
Hi, I graduated law school recently, passed the bar, awaiting admission. I was wondering if anyone has advice for how best to approach the wall street job market. I am also working right now with a law firm on the wall street, potential portable business, very small startup boutique, some limited co...
|0||3 weeks 1 day ago|
Any one on here work/worked for a startup hedge fund? Would you be willing to describe how you networked your way in, what your daily tasks comprised off, etc...? ...
|2||3 weeks 1 day ago|
So I recently went through the recruiting grind (currently 1st year IBD) and ended up getting an offer at a large, multi-manager platform (think Millennium, Point72, BAM, etc.) Although I am tempted to take it and end the process, I've always considered myself a long-term, value guy. Since it'd be i...
|7||3 weeks 1 day ago|
I recently obtained an interview with a hedge fund called Element Capital Management in NYC for a summer internship position. From what I understand its a macro fund, mostly quantitative, and around 4 billion AUM. Would appreciate it if anyone has any more information on this fund, i.e. culture, peo...
|19||3 weeks 2 days ago|
Hi, I originally posted this in the IB forum but I think its better fit for here since a lot of hedge fund guys seem to interact with prime brokers. Basically I've been researching different finance jobs, and I think prime brokerage might be a good fit for me. So I was wondering if anyone could give...
|9||3 weeks 2 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 ...
|18||3 weeks 3 days ago|
Basically, this is my current situation. I'm just starting my part-time internship in a BB Equity research team (not a very prestigious sector, but i really believe that i'd learn a lot since i'm not a finance major) and I have the possibility to go to a trading desk at one of the biggest HF in my c...
|0||3 weeks 3 days ago|
For those of you who are just now entering the word of finance, the Ackman/Icahn feud over Herbalife captivated wall street after a clash of the titans happened live on CNBC. I will never forget seeing it as it happened in my dorm. I'm sure you can find it on them internets somewhere. Long story sho...
|0||3 weeks 4 days ago|
I built out a model projecting EBITDA for 2022, applied a multiple I believe the company should trade at in 2022, used the 2022 projected cap structure to get an equity value, then discounted the equity value back to today at cost of equity. I believe there is multiple ways to do this, but my primar...
|0||3 weeks 4 days ago|
Looking for advice: I graduated from an Ivy league school in May 2016 and joined a mid tier bulge bracket in capital markets. I ended up in a securitization group which creates ABS and sells them to the markets. This group was not a top choice of mine and the experience has been much less than opt...
|2||3 weeks 5 days ago|
Hi fellows, Was asked the following question during an interview at a Distressed HF: A bank is selling an undrawn RCF at 95. How much would you pay for it? No more info. I didn't know what to answer. I only saw that interviewer for 10 minutes, so we moved on quickly as I could not give an answer. 2 ...
|2||3 weeks 6 days ago|
Which of the two have a better opportunity to work at a hedge fund? The IB would be something along the lines of MS and the Prop Trader role would be somewhere like Optiver ...
|0||3 weeks 6 days ago|
I have graduated from college for 3 years and am working in a boutique US$150m equity hedge fund in Asia with good performance (our fund was nominated in several prominent HF awards). I have the chance to join one of the largest hedge fund group in the region as a research analyst. I told my boss an...
|0||4 weeks 6 hours ago|
Wanted to gauge people's thoughts on the Citadel Global Equities team and the LS equity exit opportunities available to someone leaving a multi-manager fund. ...
|4||4 weeks 7 hours ago|
Hi - does anyone have a good source on sample writeups of distressed debt investment ideas? I am in a unique situation but I'd like to try to teach myself how to do distressed investment analysis (I work in a legal capacity right now on the periphery and I deal with distressed funds on a regular bas...
|7||4 weeks 13 hours ago|
Here is the full article from Business Insider: http://www.businessinsider.com/julian-marchese-rai... This sounds like a joke to me. This guy is presumably from a rich family and goes to NYU, and yet he could not get any real SA / FT jobs? He literally has no work experience. In addition, my experie...
|26||4 weeks 18 hours ago|
Hello everyone and thank you in advance for looking at this post! I'm looking for suggestions as for how to get into the hedge fund industry. First, a little bit about me, I'm a senior in college studying Economics and Psychology getting ready to graduate this spring. I am in the process of finding ...
|3||4 weeks 1 day ago|
I've heard you don't need any licenses to work in HF, since the fund is legally considered a single client, regardless of how many partners/investors are in it. Is this correct or am I missing something? ...
|2||4 weeks 1 day ago|
I'm in a target MFE program and I'm currently trying to go do research/quant/development. Does anyone know of a good fund that hires quants. I don't really want to be just a programmer though, and it seems like a lot of these roles just are looking for coders. Thanks ...
|1||4 weeks 1 day ago|
Are HFs recruiting a lot lately? I feel like performance has been meh in 2015-2016, hence I'd assume recruiting is not crazy? ...
|4||4 weeks 1 day ago|
What are your opinions? My firm is thinking about switching over. Factset seems like they are more integrated based on the presentation we got. Do they really do anything CapIQ doesn't? I'm coming from a long/short portfolio and equity research perspective. ...
|4||1 month 54 min ago|
Hello - I have my year end review coming up at the end of the week and wanted to get some different points of view on how to think about my range. For background: I work at a ~10B MM fund. I have been on my team for nearly 3 years, I have a good relationship with my PM, and we had a very strong 2016...
|12||1 month 3 hours ago|
Hi all Presently I may be offered a position with a west coast based investment management firm with around $400Mn AUM. I have an undergraduate engineering degree / MBA from Asia and just finished school in Quant Finance in USA. I have around 4 years of technology consulting followed by around 5.5 ...
|2||1 month 10 hours ago|
Team, Quick background of myself: First generation American, first language is French, went to semi-target in Texas, I was an intern at a L/S HF in Dallas, now I am doing O&G IB at a BB in Houston, but I am looking to jump back to Dallas and work for a L/S fund. A couple of funds require a cover...
|1||1 month 1 day ago|
tell me about which teams trade more heavily with SF tech companies on the NYSE. Which has a bigger trading team???? ...
|40||1 month 1 day ago|
Hey Everyone, Was kind of curious to see if anyone had an interview for this position yet. I was just put to the second round with an interview with HR and was kind of curious to see what types of questions would be asked. First round was Hirevue. ...
|5||1 month 2 days ago|
I'm seeing price variance subside over multiple macro derivatives. This can only be from efficiency increasing where price is becoming static and not volatile. All the infrastructure applied will create a funnel where most everyone with means will act on a event within seconds. Counter party size w...
|0||1 month 2 days ago|
Hey all, long time lurker first time poster. Just wanted to share my background and answer questions for those interested. Background: 7 years of investment research experience prior to b-school, mostly in equities (some credit) with half of that on the buyside at a hedge fund; sectors covered incl...
|61||1 month 3 days ago|
Spent a little time and IB/PE, and currently interviewing for BB IB, but I was curious, whats special about hedge funds? I always had thought they were simply stock pickers who spent all day at a desk by themselves, but I'm starting to find that the work is very similar between these three fields. I...
|0||1 month 3 days ago|
I work for a buy side trading desk. I recently saw a position at one of the brokers with whom I deal with every single day that I am very interested in. My sales coverage is director level and has been at this company for 10+ years. Having said that, he/she knows everyone on my desk very well. Can a...
|4||1 month 3 days ago|
A number of friends/acquaintances want to give me money to manage on their behalf. Obviously if I were to do this under a personal account it would be illegal. So how hard/costly is starting an investment fund that can take money from other people? I would just want the cheapest, simplest legal stru...
|118||1 month 3 days ago|
Hi all, I am asking for some advice. I was hired out of undergrad to work at a small buyside shop at a significant salary discount with the promise of a raise after inflows to the fund occurred. It has been two years without any inflows. Should i jump to the sell side as an associate in order to j...
|8||1 month 4 days ago|
Hey all - Managed to score an interview at Aptigon in the coming weeks. Given the fund's recent move to Citadel's platform I haven't been able to find much info on its interview process, culture, etc. Any insight here would be greatly appreciated. ...
|2||1 month 4 days ago|
I started at a hedge fund this month with decent AUM (in a range of $1-5 billion). I am rather surprised to see that the vast majority of the guys prefer semi-formal or business casual unless they have meetings. Is this common across the funds you guys work at? ...
|24||1 month 4 days ago|
Where do you source your investment ideas be it, for your personal account or for your work? I'm feeling a bit starved for ideas to research ...
|0||1 month 6 days ago|
I know some investment bank asMorgan Stanley Sc lowy Illiquid capital What are the other investment bank/boutique ...
|0||1 month 1 week ago|