" IS A TARGET SCHOOL THAT IMPORTANT"
I am a high schooler( always wanted to become an Investor) targeting to get into AM/HF(no interest in IB/PE) and ultimately become a PM.
After going through Linkedn ( fidelity ,blackrock,vangaurd,pimco) I found most analyst ,PM were not from top targets.only 1 out of 3 were from H/W/S/Y/P/MIT/OXBRIDGE type . Ohers were from semi or non targets.
In AM/HF industry is school more important or how much knowledge you have and how much alpha you can generate .If you have in depth knowledge ,skill, read hundreds of investing books you can easily trump the Harvard guy with no such skill but just the brand name.
Shutup and get back to your applications
It dosnt matter, the market is going to crash from the coronavirus, just buy puts.
I love America
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Damn!
Holy shit did I not fucking call it?
Meritocracy but target doesn’t hurt in opening doors on the way there, I’m sure
The reason these places recruit so heavily from target schools/from target jobs (IB or PE roles) is because they’re looking for star candidates. There are PLENTY of intelligent people in finance, just like there are PLENTY of stupid people in finance. They just raise their chances of getting the intelligent people by going places that people have proven to be intelligent (top schools demand top talent, top banks demand top talent). Also, they don’t care how many books you’ve read. If their livelihood depends on it (in hedge funds for example, you often get bonuses based on how your whole TEAM does, not just from your own hypotheses) then they want people with proven results, not people who have read how to do it.
If you’re serious about getting a top job, go to a place where they are explicitly looking for people. I promise you won’t get in to ANY job if headhunters don’t even recognize who you are, especially jobs dominated by ex-bankers. You can make up for discrepancies like this with networking, but it makes everything 100x harder for you.
commenting because it’s possible OP is serious, but this survivorship bias- judging decisions and actions, etc. on those who rose to the top. you (OP) are LIKELY not one who is capable of going to top targets and getting scholarships (or else this wouldn’t even be a question). Instead, you have low pedigree and want to know whether the odds are stacked against you. If you were smart enough to become a top PM, the answer would be clear to you but it’s as simple as the above commented says: it’s all about ‘ease’ and and making things good for you. If you love to invest, that’s correlated but not exactly the same as being correct, because all this pedigree and historical success helps whether bad times. if you’re banking on the fact that you’ve read books, well people are gonna give money to who have done the same and are better than you in every aspect. so if you can and want to maximize success, you don’t go shooting your self in the foot. being a private wealth manager or running your own fund is different than being employed in a prestigious hedge fund as a portfolio manager focusing on specific sectors, etc. and strategies. hopefully I’ve helped change your perspective a little bit and you came off a bit arrogant in your post (assuming this isn’t a troll post and you are just a little bit dumb no offense).
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