HF

A few days ago I had an hour long phone chat with an alum that runs a Tiger Cub. I'm a rising senior, and I was just getting info from the guy concerning ER vs. IBD for eventual long/short equity employment. His fund is fairly secretive, and the only real info online is the 13F, which I read before talking to him.

To my surprise, one of their major holdings as of 6-30-10 was the main competitor of the bank with which I'm interning (I've had two internships this summer - IBD and a project for the CEO and CFO of a major regional bank). He was also familiar with the bank I'm with currently.

i guess some people would see it as straight up BO because 'if its not FO its BO'. is it really a combination (as it is in my perspective) of FO/MO?

i'm nerovus I got myself into something I don't want to be in (re the title subject) for rushing into things I didn't understand/research well.

anyway, please discuss. thanks.

For those of you who have worked in a fundamental L/S hedge fund before, do HFs write up an internal equity research report for most of their investments?

Is it hard to transition from one of the major state pension funds to ER or portfolio management in the private sector? To which area of the private sector, e.g. MF, HF, IB, ect., is the transition easiest?

Can you trade equities in your own personal a/c while working for a HF?

I don't know anything about the HF industry or even how the hiring process works. I'm not even sure how many reputable hedge funds are out there. But... I was wondering how an analyst in the Industrials group of a BB could best prepare for a potential exit to a HF. I hear traders and people in ECM or ER are better suited for hedgefunds and that I'll have to do a bit more work to break in not coming from those aforementioned groups

1. Are there reputable HFs that specifically play in an Industrial space? Or are they non-specific segregated by value/macro/distressed etc?

2. How do I start preparing/building my skill sets? Anything I should be doing specifically? (reading the economist everyday, wsj, books etc?)

3. How does the recruiting process work, do I have to actively send my resume come end of first year or will their be headhunters? Is recruiting on a need basis only (non-cyclical)?

If I'm putting an internship at a HF on my resume and I want to include a one line description of the fund, should I include avg annual return, total return since inception, both, or neither? Also, what would you consider a strong total return to be for a fund that is 10years old? What about 15? Just want some context. Thanks.

I will be starting as an analyst at a London BB this fall. I went to school in the UK, but am originally from the states. My general impression is that PE and HF recruiting is much less formal in the UK than in the US. Is this correct? Can anyone provide guidance on this, and if I do want to go to PE, how to do so? Also, if I want to go from London to a US HF or PE firm, is this feasible?

Thanks

For those of you who have analyst experience at Fundamental L/S HFs, are your work mostly following the market or is mostly excel modeling?

Are there many hedge funds based out of Houston?

I've heard of Centaurus, but that's it. Any others?

If I would eventually like to transition to a hedge fund (from a bank), would being in equities or fixed income be better? I know it depends on the nature/strategies of the firm, but do trading-focused HFs usually have both equity and FI traders? kind of a dumb question but i just wanted to have some light shed on the subject

thanks

How does an analyst a company that is currently going through a chapter 11 reorganization phase? specifically, where would you source growth projections? Thanks for any input.

What modeling skills used in IBD are used in long/short HF? M&A? DCF? Comparable company analysis? Precedent?

So I'll be interning in a L/S HF that focuses on both fundamental analysis and trading.
Are their any specific desks/roles (i.e. merger arbitrage) that will provide me with the best experience for IBD/PE internships in the future?

So I'm in a dilemma and need some help.

I'm a junior at a top Ivy. I currently have SA offers from a HF and a PE. I want to work in one of those areas in the summer and the other area during the school year next year. Will transitioning from HF SA to PE part-time be difficult? Or will it be easier to get HF part-time after doing a PE SA this summer?

Thanks.