AM/IM Technicals GSAM and JPMIM Public Investing

For superday technicals in Public Investing roles like Equity and Fixed Income at GSAM or JPMIM, based on the most helpful WSO content, the focus tends to be less on the "standard 400" technicals seen in IB and more on market knowledge, investment acumen, and role-specific expertise. Here's what you can expect:

1. Market Knowledge: Be prepared to discuss current market trends, macroeconomic factors, and their impact on equity and fixed income markets. For example, you might be asked about the implications of interest rate changes on bond prices or equity valuations.

2. Investment Philosophy: Expect questions that test your understanding of investment strategies. For equity, this could involve discussing growth vs. value investing. For fixed income, you might need to explain duration, credit spreads, or yield curve dynamics.

3. Stock or Bond Pitch: Similar to IB, you may be asked to pitch a stock or bond. This tests your ability to analyze an investment opportunity, articulate your thesis, and defend your position.

4. Technical Questions: While not as formula-heavy as IB, you should still be ready for technicals like:

   • Equity: Valuation methods (DCF, multiples), understanding of financial statements, and key metrics like P/E, EV/EBITDA.
   • Fixed Income: Bond pricing, duration, convexity, and the relationship between interest rates and bond prices.

5. Behavioral and Case Studies: Public investing roles often include case studies or scenario-based questions. For example, you might be given a hypothetical portfolio and asked how you would adjust it based on a market event.

6. Role-Specific Focus: If you're targeting equity, expect more focus on company analysis and stock picking. For fixed income, the emphasis will be on credit analysis, interest rate risk, and portfolio construction.

To prepare, focus on: - Staying updated on market news and trends. - Practicing stock and bond pitches. - Reviewing key technical concepts for equity and fixed income. - Understanding the firm's investment philosophy and recent performance.

If you're looking for more structured preparation, WSO's investment banking and private equity interview prep resources can provide a solid foundation, even if tailored more for IB/PE.

Sources: Q&A: Head of Pension & Endowments @ Fixed Income AM - BB S&T & FI AM w/ some restructuring & MBA sprinkled in., Investment Banking Interview Questions - 15 Answers to Land the Job, PE interview question - If you can only know 3 things for an investment analysis?, Pitch me a Stock Interview Question for Investment Banking?, Private Equity Interview Questions - 13 Topics to Know