Unique situation, seeking advice for a position at a Value fund

Hi everyone, I've been lurking these forums for a little while. I'd like to ask for some advice about my situation, as I've been thinking about taking the plunge and looking for a job.

Background:
I graduated from a top UC (UCLA/UCB) with 2 BA's in History and Anthropology, 3.99 GPA, PBK, Highest Distinction in all subjects.

I'm now in my first semester of Law school at a top 25 school -- parents offered to pay and there was intense family pressure to at least try it out for a year. I don't find the material especially challenging, as I am a heavy reader. It simply isn't for me.

A little about me:
I'm in my early twenties, and I've been interested in the stock market since I was 8 years old. I've been managing my own money since I've turned 21. I'm satisfied with the returns earned relative to dollars at risk.

Because of learning disabilities in high school I could never take a business course in a formal academic environment. The same for college.

Over the course of the past fifteen years though I've taught myself a wide array of things. I learned the rudiments of the shipping and capital leasing businesses from my parents, taught myself about credit markets, currency markets, options, commodities, derivatives etc.

Several years ago I discovered value investing and have wholeheartedly embraced it. I've read Security Analysis and the Intelligent investor cover to cover. I've also read a lot of other staples including Common stocks, Uncommon Profits and the collected letters and articles by Buffett, Schloss and the other greats.

I range over a lot of sectors, including shipping, special utilities, regional banks and insurance and heavy industry. I shun technology, instead I prefer smaller companies that are often overlooked.

I am very cautious about companies that I invest in. I prefer to buy companies with low debt, management that cares, trading at a discount to BV with healthy interest coverage and in very basic industries. I'm sure that this all sounds generic however, as that is the goal of every investor. The companies that I currently am holding all fit this bill and would be worth more if liquidated than I paid after bond obligations (if any) are satisfied, a healthy premium in fact.

I realized one day, when I did the securities law homework of an older classmate in my head under twenty minutes, that the law isn't for me. It was the best I felt all month at school, and if I can get paid for my hobby I'm the luckiest guy in the world.

I've taken practice tests on the CFA level 1, and am going to sign up for the June exam. I might do Series 7 as well. I found the CFA to be manageable, and the Series 7 to be very very manageable. The only portion of the CFA that I found to be pretty tough was the section on the rulebook.

I live on the West Coast and keep market hours, I read corporate reports in my spare time. The market is my greatest hobby and I have only recently become comfortable with the idea of attempting to do it professionally.

I recently told a guy at my gym about smallcap gem I had found. After I had talked to him for a bit he handed me his card and asked to get in touch with me - he turned out to be a VP for equity trading a V5 firm. This is the second time something like this has happened. I sent him an email to meet and were going to get some coffee after my semester winds down.

I'm really lost when it comes to looking for a job. I've never had one. The market provided for my few wants during college (no need for a summer job) and I went straight into LS. As a result of my background and family pressure, I have not explored getting a job as an analyst until now. I have no formal training, and I am 100% sure that I have holes in my knowledge which I am trying to remedy. I'm trying to figure out how I can get employers to look past my lack of a business or financial background but I'm afraid that my resume will hit the trash before they can read some examples of my analysis or hear me talk about it.

Thanks in advance everyone!

 
Best Response
Artifex:

Several years ago I discovered value investing and have wholeheartedly embraced it. I've read Security Analysis and the Intelligent investor cover to cover. I've also read a lot of other staples including Common stocks, Uncommon Profits and the collected letters and articles by Buffett, Schloss and the other greats.

I range over a lot of sectors, including shipping, special utilities, regional banks and insurance and heavy industry. I shun technology, instead I prefer smaller companies that are often overlooked.

I am very cautious about companies that I invest in. I prefer to buy companies with low debt, management that cares, trading at a discount to BV with healthy interest coverage and in very basic industries. I'm sure that this all sounds generic however, as that is the goal of every investor. The companies that I currently am holding all fit this bill and would be worth more if liquidated than I paid after bond obligations (if any) are satisfied, a healthy premium in fact.

This puts you ahead of a lot of people on this site. Keep learning and network, network, network. There are plenty of huge asset managers in LA that you could try and work your way into.

 
beakerbeaker:
There are plenty of huge asset managers in LA that you could try and work your way into.

I know a few people who work down in LA as credit analysts. I've also been writing a short paper about bubbles and collapse events within Royalty Trusts/MLP and the rare, fleeting, opportunities for value. I've been thinking of submitting it to periodicals through a BLaw journal or the business school (at my undergrad).

I've also got a few lines with some people I know who work in SV/San Francisco but since I don't enjoy covering tech - I don't know what the landscape will be like. I'd like to live in the Bay Area.

Another big question I have about finding a job is if I will have to apply with a class of people in the summer or if I'll have the opportunity after school ends in the winter.

 

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