Navigate the twists and turns of the hedge fund world.

SPOTLIGHT: Hedge Funhouse Rules and FAQs

The goal of Wall Street Oasis’ Hedge Funhouse is to give our users the best possible snapshot of life at a hedge fund, from internships and recruiting to compensation and career progression. Working towards that goal, we’ve created a Frequently Asked Questions page for Wall Street in general, as well as a page for the Best Discussions from each industry.

To familiarize yourself with Wall Street, check out our Frequently Asked Questions page, or navigate using one of the links below:

  •  WSO 101

AMA: HY/Distressed Analyst at NYC based Mid-Sized Credit Hedge Fund

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 included technology, specialty finance, insurance and CMBS. After b-school (2013) have been in a HY/Distressed analyst role covering the tech and telecom sectors at a credit hedge fund. Education wise, have a double major from a top tier/semi-target, MBA from a top 10 and the CFA designation.

Given that its recruiting season, I am happy to share my thoughts and perspectives on the process including: 1) types of candidates, 2) networking, 3) interviewing, etc. As well as my experiences thus far and any other questions, etc. that I can hopefully shed some light on.

Career Progression, hedge fund straight out of college

I'm currently a 1st year analyst at a very large multi-strat. Anyone have color on what the career progression looks like for a college grad who directly got into the door?

Reasonably, when I can expect to handle a sizable chunk of risk to the tune of $50 million? How many years of experience do I need to become a PM? I'm willing to lateral to a smaller fund.

Repo Voting Rights

I learned about repos a little while back, and I am trying to figure out how voting rights work.

According to ICMA, "It is unacceptable market practice to use repo to buy equity solely in order to exercise the voting rights."

How "unacceptable" is this, and what are the potential risks of an activist doing this to influence elections. On a higher level, is it even possible to make large repos weeks/months before an election?

Post College Start HF/or Jane Street

I know this an out of the blue question but I just wanted to get some feedback. I am a current senior at a tier one college with a job offer in corporate banking at a BB firm in NYC and a job offer at one of the best proprietary trading firms in NYC.

College Grad Starting Hedge Fund

I know this an out of the blue question but I just wanted to get some feedback. I am a current senior at a tier one college with a job offer in corporate banking at a BB firm in NYC and a job offer at one of the best proprietary trading firms in NYC. Over the last 4 years I have annualized a 47% return and grew my personal portfolio to north of 600,000$ dollars. In addition to this I inherited around 40 million dollars from my grandfather almost all in the form of Hedge Fund Investments. My family has always had close ties to the HF industry so I have been able to keep the money with the managers as we were some of their first investors. The managers include David Tepper, Ed Mule, Bill Ackman, Chuck Davidson, Alan Fournier, and a few others.

High turnover/stress at multi-manager platforms?

Hi guys, just wondering if anyone has any insight into the culture at multi-manager shops like Balyasny or Citadel. I get the impression that these are highly stressed environments with lots of staff turnover. If you're an analyst at one of these places and your PM gets the chop after a few quarters do you automatically get the chop too? Also, can someone explain the stop-out risk limits at these places? Is it on a position or portfolio level?

Thanks!

M&A Senior Associate/Junior VP - is it real to move to HF?

I am 3rd year IBD Associate at a top BB firm, doing natural resources. Is it possible? How to prepare? Can you recommend any readings to start from?

What do you think about the CAIA?

I'm seeing more and more people take the CAIA

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