<em>Mod Note (Andy): #TBT Throwback Thursday - this was originally posted on 3/24/13.</em> So I've seen a few posts lately asking about mutual funds, Asset Management gigs, and alternatives to the sell-side out of college, and hopefully my experience taking the asset...
This thread is for undergraduate students currently applying to the <abbr title="JP Morgan">JP</abbr> Morgan's 2018 Winning Women events in <abbr title="New York City">NYC</abbr> and Chicago. Feel free to follow and/or post if you're in...
This will be my very first post to this forum, which is admittedly dedicated more to banking and private equity rather than investment research. Given the dearth of content on buy-side equity research (understandable given the small size/low turnover of the industry), I have decided to share my...
I've noticed <abbr title="asset management">AM</abbr> is kinda shoved aside as a post-MBA job on this forum when in reality it's an extremely steady cash flow for the firm. I really don't see why someone would pick banking over <abbr title="asset...
In the spirit of the holidays, I thought I would host a AMA for anybody interested in the life of a buy side analyst that works on an emerging markets fund. I also occasionally contribute ideas to our international developed market funds, but I do not work on any U.S. companies. Brief...
I have been reading <abbr title="Wall Street Oasis">WSO</abbr> for a few years now and would like to give back and help out all of the younger readers on here. When I was going through the interview process for my current role, I had a hard time figuring out what exactly I...
Once and for all - Here is the best guidebook I can give you for <abbr title="private wealth management">PWM</abbr>/<abbr title="private banking">PB</abbr> at the Associate level. Enjoy and show me some love... 1.1 What is Private Wealth...
Hedge funds get all the glory... and now they're even going to get all the press, courtesy of the JOBS Act, and I'm more than excited to see who thinks they actually need to advertise to bring in the flows. However, while a hedge fund is structured to make one man insanely rich and a...
This thread is for people applying to the bank's <abbr title="asset management">AM</abbr> Winning Women events this October in <abbr title="New York City">NYC</abbr> and Chicago. But feel free to follow and/or post if you're in another...
So it has been clear to me that algorithms will eventually be capable of doing everything that a traditional wealth manager is. Given this trend, I, rising junior, am a bit worried about being able to even have a job in the industry, and am even considering starting a robo-advisory as a method...
**Note: as of 07 31 18 I will no longer answering q's on this AMA. Thanks for your questions and I hope some of the responses help.** Before I started in the industry I used to (somewhat anxiously) trawl <abbr title="Wall Street Oasis">WSO</abbr> for hints of what...
<em>Mod Note (Andy) - as the year comes to an end we're reposting the top discussions from 2015, this one ranks #31 and was originally posted 6/28/2015.</em> <h3>Endowments & Foundations Part 1: A Basic Overview</h3> I think the most useful threads I’ve...
Cloud computing original Salesforce.com has been on a tear since inception: <img src="/files/styles/w800/public/inline/images/salesforce.jpg?itok=UYw0guVn" alt="" /> However Investors have been divided on the stock. [Joel Greenblatt has shorted...
Ah, **Bill Gates**. Growing up, William Henry Gates III was the kid you loved to hate: With an IQ of 160, a today’s dollars-trust fund worth north of $20mm, AND politically connected parents, he was smarter than you, richer than you, and had a brighter future. <img...
Background: <abbr title="Masters in Finance">MSF</abbr>, ~<span class='keyword_link'><a href="/finance-dictionary/what-is-investment-banking-division-IBD">2years <abbr title="middle market">MM</abbr> <abbr...
<abbr title="Chartered Financial Analyst">CFA</abbr> L1 this Saturday... I've taken the LSAT before, but building confidence for this beast is pretty damn hard even if you've majored in finance, accounting, or econ and put in 300 hours already. So, to help break...
<span class='keyword_link'><a href="/finance-dictionary/what-is-private-wealth-management-PWM">Why is <abbr title="private wealth management">PWM</abbr></a></span> generally looked down on? Is it because of something palpable like...
It's about time I do another post on here and rather than go into detail on a specific aspect of the industry I'm just going to open it up to a general AMA. The E&F (and asset allocators in general) industry is sort of a black box. Most people don't know a ton about the...
<abbr title="Wall Street Oasis">WSO</abbr> Primates, I am currently a VP at a small buy side bank located in <abbr title="New York City">NYC</abbr>. We do some middle market lending and are a buy side firm in the broadly syndicated loan space...
I said in a previous post that I would try and write some more content in the future aimed at helping my younger self/newer analysts out. Bit of a quiet period before earnings start to pick up next month so here is something that I’ve created and use every time I research a new company from...
Title says it all. Trading structure/strategy can be as complex as you'd like, but the money has to be put toward just one "bet." For example: shorting a call on a Euro stocks index and going long on EUR/USD puts to invest in the idea that the Eurozone will fall.
Long-term lurker here: I've been reading <abbr title="Wall Street Oasis">WSO</abbr> for a few years now, and found a lot of the advice on here invaluable when I was first exploring moving across to the buy side a few years ago. In the spirit of giving back, I thought...
I recently got offered an internship at BlackRock as an analyst and I am afraid they will do a hair test. They already said they will be doing an FBI background check instead of the traditional one, so this makes me think they will dish out the cash for a hair test. I've smoked probably 4...
Hi everyone, I've enjoyed this forum a lot, despite it mostly being about <abbr title="investment banking">IB</abbr>. Overall career advice here has been really good for the most part. @thebrofessor" suggested last week to do an AMA so I thought I would give...
Economics grad. No internships. <abbr title="Chartered Financial Analyst ">CFA</abbr> level 1 candidate, awaiting results. Itching to land a career in research in <span class='keyword_link'><a...
Monkeys, I haven't posted much on here, but I've been a lurker for some time and have been helped out by many of your posts. I now hope to return the favor and give some insight into the private bank/wealth management world with this AMA. Some background: I went to a target...
Chronic lurker here. I recently accepted a position at an endowment fund. Didn't see a lot of info. here on endowment fund investments - so ask away any questions you have. As background, I am responsible for all of the endowment's alternative investments (private equity, private...
It seems like there is a lack of content on <abbr title="Wall Street Oasis">WSO</abbr> outside of the <abbr title="investment banking">IB</abbr> and <abbr title="private equity">PE</abbr> forums on here. I would guess that this is...
Now that Mid-May has passed, I thought it'd be beneficial to post some important pieces of advice for those interns gunning for a return offer in <abbr title="asset management">AM</abbr>. I went through the fun last summer and came out with a return offer, so here are...
Hello hello, Against my better judgement I recently got married and I am now planning on buying a house in ~3 years. I wanted to solicit advice from the wise, powerful, and good-looking <abbr title="Wall Street Oasis">WSO</abbr> board as to how to best shift around my...
Hey guys, I got a lot out of these forums when I was an undergrad and I've decided its time to give back. I went to a top target as an undergrad and have been working on the equity side at a mutual fund on the east coast with 100B+ AUM for about a year now. I'd be happy to...
Time to get it done, Saturday is the day. A little last minute for this post but: Who's taking it/What level/What number will this attempt be/How are you feeling about it? I'll be siting for level 2, will be my second go at it. Passed level 1 first try the previous December and...
In this incredibly competitive industry, I figured someone might be curious if anyone had ever lied on their resume to gain a more favorable appearance and land interviews. I have, and here is my story. A few important things about me: 1) I attend a Non-Target State school on the West...
Let’s talk about institutional investment management. Doing a quick search it looks like there have been a few more allocators on the site since I was last here — feel free to chime in if you have other experiences. It’s been quite a while since I was on WSO and did my last AMA. I...
Hey guys! I am brazikian monkey and for the last days I've been thinking about what I am going to do with my bonus. I'm already in my third year working but have changed jobs in the last two, so this will be my first real bonus. For my country, I will earn something about 30 -...
I know the topic of active vs. passive has been discussed in great detail on here, but I would like to know if active management is still a smart career choice. Sometimes I feel like the decline of active management is exaggerated, but when I read about all of the outflows, I feel inclined to...
Currently, it's no secret that active management is shrinking and places like Fidelity are laying off a lot of their staff which is why I'm wondering: Would it be a wise decision for a college student to pursue working at an IM firm like Fidelity, Blackrock, PIMCO, Wellington or any...
So after doing my own research and reading this site I have realized the Asset Management is a solid career choice. So I wanted to know what is the usual career path to become a portfolio manger at a asset management firm like BlackRock, PIMCO and wellington. Also what is the salary like for a...
I work at a large <abbr title="megafund ">MF</abbr> in the Northeast as an internal wholesaler. For those of you who don't know what that is, it's basically inside sales. I make outbound dials to financial advisors to sell them our mutual funds among other things....
![Investment World map](https://photos.google.com/photo/AF1QipMNmEcPDV5ZUJwKjSzbAvFGAYd3EKdtFPnWMakb)[Investment World Map](https://photos.google.com/photo/AF1QipMNmEcPDV5ZUJwKjSzbAvFGAYd3EKdtFPnWMakb)This is a map I drew for someone ‘ birthday. Could you please take a look and comment? Did I...
Hi, I'm wondering if there are any side jobs that you can do while working in an investment management firm? I know in the beginning it might be hard to find time but I've heard the hours get better. So considering the important of multiple flows of income, I'm wondering if...
Greetings fellow monkeys: By way of introduction, I have been a shadow-user for quite some time, please excuse my lurking, and I want to thank everybody for all of the thought and effort that is put into your posts. I have learned a great amount from the <abbr title="Wall Street...
Looking around but have been unable to locate much info. What does a client portfolio manager really do? It looks like they relay investment and economy theses- is this a <span class='keyword_link'><a...
Hello, This page will be used to engage with the wealth management <span class='keyword_link'><a href="/guide/wso-internship-guide">summer analyst program at</a></span> <span class='keyword_link'><a...
I'm working with a rather large alternative asset manager in Boston - no glamour in the name, but still a pretty good place to be summer before junior year (semi target in chicago). Today, I got absolutely reamed by my effective boss (junior PM) because apparently I told the senior PM in...
Hello: I was wondering about a career path to go into Asset Management after college undergraduate degree. This is a potential path I would take (if I get in to all these schools, right now am in HS) Wharton - <abbr title="balance sheet">BS</abbr> in Economics...
Hey everyone out there, I wanted to start posting and discussing market views in this forum because some of the best insight I have ever read has come from this forum and I want to begin giving back. The first view I have is that Eurozone banks are a great buy right now. Their shiller P/E's...
After a successful job in college as a donations solicitor, I thought I could make a long-term career out of convincing people to part with their money. After speaking to a Financial advisor at Merrill Lynch, I was convinced this was the perfect career for me. Three interviews and three...
Monkeys, the purge is beginning, and I think this is only the tip of the iceberg. In short, Fido is offering packages to 3,000 workers who meet the 55+10 requirement (55yo + 10y of service), looks to be a year or two of severance, and maybe with some vesting of deferred stuff (an assumption as...
Hi all, I've been a long time reader of <abbr title="Wall Street Oasis">WSO</abbr>, but rarely posted anything in the last couple of years. Thought I'd change that and give back to the community helped me out in the past. So here's my story (I'll...
Whether you're managing your portfolio for yourself or for someone else, [here](http://www.valuewalk.com/2017/02/20-balance-sheet-ratios-every-investor-must-know/) are 20 balance sheet ratios you may want to be aware of. Thoughts? [quote] Solvency Ratios 1. Quick Ratio = (Current...
Hey everyone, looking for some quick career guidance from some <abbr title="asset management">AM</abbr> professionals on the street. Currently (a URM) in undergrad semi/non-target in <abbr title="New York City">NYC</abbr>, and as of now my goal is...
A lot of recent startups are being built around wealth/portfolio management such as Robinhood, Stash, Acorns etc. However, most of these startups are apps targeted towards mass market. To the financial advisors/<abbr title="private wealth management">PWM</abbr> folk on...
For many in the investing community, the overwhelming rise in the popularity of index funds has raised serious doubts about the future of actively managed funds. Market trends over the past few years have indicated that the days of big-name active managers such as Peter Lynch may be over, thanks...
It doesn't seem like there's a thread for this but I just got the HireVue for the WM 2019 internship. I'm curious if anyone else did as well and whether or not the questions will be the same as they are for the <abbr title="investment banking...
Hey Monkeys, <abbr title="Wall Street Oasis ">WSO</abbr> was a huge resource for me navigating through and eventually breaking into the <abbr title="asset management ">AM</abbr> industry. Thought I'd throw an AMA for all the grinders interested...
Hey guys, so I was curious at to the various paths to breaking into long only Asset Management (think Wellington, T. Rowe, etc.). So I am thinking about doing investment banking out of college (not necessarily only to break into the buy side, but because I'd really like to try it out), and...
Hey guys, I had an interview this last week with a local <abbr title="asset management">AM</abbr> shop about an internship for next summer, and they told me to come back and meet with the CEO. Does this mean I have a pretty good chance of getting an internship? Sorry if...
Friends, Many <abbr title="Wall Street Oasis">WSO</abbr> posts speak indirectly to the idea of happiness, or the absence thereof. Is it possible to find a work-life balance when you are pulling 60-80 hour work weeks, and engaging in hand-to-hand combat inside and...
As full-time start date begins in a few months, I was wondering what everyone is using their signing bonus towards. Are you using it for rent? A nice trip? I'll probably use it on a nice trip but not really sure. Advice is appreciated.
I haven't seen any posts on this anywhere so thought I would give it an ask. With the rising popularity of <abbr title="exchange traded fund">ETFs</abbr> etc and money moving away from active investing, there is obviously less career opportunities in active...
I would like to go into asset/investment management. When I was in high school I used a racial slur on social media and screenshots were posted on a major publication. I've learned a lot since then and hope to move past it. Since then I have changed my last name. Do you think I can...
####In The Money <img src="/files/styles/w800/public/inline/images/tesla_cash_flow.jpg?itok=gMES0cc3" alt="" /> *Cash is King - origin unclear, but said after the ‘87 market crash by Pehr G. Gyllenhammar, CEO of Volvo (Fate Loves Irony)* I wasn’t planning on...
Obviously it's easy to rank <abbr title="asset management">AM</abbr> firms in terms of their AUM which gives a glimpse into their standing, but how would you rank them in terms of their exit opportunities and overall prestige?
Almost everyone young i know avoid funds with huge costs. They only go for passive or very low cost funds. This makes me wonder if <abbr title="asset management">AM</abbr> can really survive (over a generation), if the younger people keep moving towards low-cost choices....
I applied through my school's system and found them. Not sure about them, they only do commission basis. I was reading a bit on them, a few accusations of a triangle fraud was being done but the rebuttal argument was that they're one of the cleanest firms. Commissions range from 45-55%...
<em>Mod Note (Andy) - as the year comes to an end we're reposting the top discussions from 2015. This was originally posted 11/17/2015.</em> I mentioned a while back my transition from various <span class='keyword_link'><a...
I have worked for two years for a Texas single family office. I also interned there in college. Ask me anything
Does anyone have any questions/insight into the Hirevue questions for JPMorgan Chase <abbr title="summer analyst intern">SA</abbr> 2019 Asset Management in NYC? I'm assuming its behavior, but since this is my first hirevue-no clue. Also, is this a first round or still...
Noticed there were threads for <abbr title="investment banking">IB</abbr>, <abbr title="Sales and Trading">S&T</abbr> and wanted to make one for IM/<span class='keyword_link'><a...
I recently got an internship offer from Morgan Stanley Wealth Management, NJ office.Non-target school finance and business analytical master degree. I will graduate this May and I have studied for <abbr title="Chartered Financial Analyst">CFA</abbr>, FRM. I want to land a...
I plan on signing up for <abbr title="Chartered Financial Analyst">CFA</abbr> level 1 and I was wondering if people who have taken it in the past actually felt that 300+ hours was needed??? I am currently an undergrad in finance and will be in my 4th year this December...
Hey monkeys. I just started becoming more active on <abbr title="Wall Street Oasis">WSO</abbr> now that I have made it to the buy side and wanted to share a few tips for fellow liberal arts undergrads. After working on my economics degree on a campus of 2,000 students and...
It seems after searching on the forums, <abbr title="private wealth management">PWM</abbr> (private wealth management) has been thrown around a lot and used for the term of regular wealth management - Financial Advisor, financial advising. Where you start up an account at...
Many of you may not know it's conference season, where guys like me get flown to exotic places listening to firms this forum salivates over (BX, <abbr title="Kohlberg Kravis Roberts & Co.">KKR</abbr>, Oaktree, PIMCO, GSAM, etc.) pitch investment ideas to us and...
Hey guys, was just wondering if anyone else got a hirevue interview invite for IMD and if they could share their experience. Also, some people are saying that the hirevue invitations were a mistake. Any thoughts?
Read an interesting article regarding <a href="https://www.bloomberg.com/news/articles/2017-01-09/blackrock-quants-sustain-record-losses-in-setback-to-fink-plan"> BlackRock robot stock-pickers posting record losses.</a> As we all know, more and more <span...
Comp season has passed in my firm. I know it's ongoing at the big banks and happens at various times throughout the year for the big funds. A few observations based on my experiences and conversations with people who work in the industry. If you've been working for 5 years or less,...
Hi all, I currently work for a Financial Advising Wirehouse in Orange County, California. The team I intern for has about $650AUM divided between 2 FA's and a CSA. The life of every FA in this office seems pretty sweet. Averaging maybe 35-40 hour work weeks, assuming a comfortable salary...
Hi everyone, I'm an external wholesaler in a major metro market. I saw a number of posts regarding this field so I figured I'd do a AMA to help those interested in this field. fire away! Just an FYI, don't get discouraged if after a week or so it takes me a little while to...
I am an international student from India. I am an econ major and going to take GMAT this summer. I am planning to move to the US for my masters. Earlier I had plans of Europe but it won't be possible now. I looked for some schools in USA for which I think I am fit. My career goal is to end...
After my career started in <span class='keyword_link'><a href="/finance-dictionary/what-is-the-back-office-BO"><abbr title="back office ">BO</abbr></a></span> and MO roles for ~3.5 years I finally received the offer for a <span...
Backdrop: -Originally gave myself 7 months to study (came from Econ undergrad, so I figured I would need more time than most) -Department I work in is understaffed like you wouldn't believe, had to work crazy (80+) hours for the last 5 months, despite <span...
The <abbr title="private equity">PE</abbr>/buyout and high yield boom in the 80s, the Asset Backed Securities and Prop-Trading boom pre-2008, and more recently the rise of Quantitative strategies - these are some examples of fast growing asset classes or practices within...
I jut got a first round for Fidelity’s Investment Research Associate Internship for Summer 2019 and was wondering what questions to expect/tips for the interview. Any help is appreciated, thanks.
How does one usually do it successfully? Are most fairly experienced in the industry before they launch their own fund? How about contacts? Thanks.
What are some of the key differences between the two? Obviously the security being valued is different, but I imagine you would still be looking at the strength of the company and looking at the same financial statements, etc. Wondering because I enjoy <abbr title="equity...
I've seen on a couple threads now people saying mutual funds are shrinking and laying off/decreasing the number of people they're hiring. Some people said their comp has been cut to as much as 50% as a couple years ago. Is there any truth to these statements or is it just an...
In 2018 I have to make a pretty serious decision, which will determine the direction of my career. Currently, I have three real possibilities: 1. Consultant Relations for a mutual fund. 2. Institutional Equity Sales 3. Inheriting a decent sized book in wealth management at a <span...
If I can't get a job in <abbr title="asset management">AM</abbr> right after graduation, what jobs would allow me to break into <abbr title="asset management">AM</abbr> within the next few years? Would jobs in corporate finance work? What about...
Hi all, If anybody hears back from the team, please let me know! And does anybody have an idea like how long it takes to hear back from them? Thanks!
Hi <abbr title="Wall Street Oasis">WSO</abbr>, I've recently been in talks with an Asset Manager who has brought me in numerous times to help me get a better idea of what the day-to-day is like. I reached out to a school alumni that works there (Portfolio Manager)...
I am a high school student, and I will graduate in a little over a year. My college will be completely paid for, so I was planning on getting my <abbr title="Masters in Business Administration">MBA</abbr> directly after my undergraduate, I was planning on a major in...
Hello fellow monkeys - I'm contemplating an opp at PIMCO and would like to get as much feedback as possible on a few questions/topics: 1. What is the feeling among employees there in regards to the culture and if it's changed since Gross left. From what I hear it is changing for the...
Hello everyone, I'm a couple years into my career in corporate finance at an F100. I have my sights set on an <abbr title="Top 7 MBA business schools">M7</abbr> <abbr title="Masters in Business Administration">MBA</abbr> later on, and I am...
Hey everyone. I'm in a top target undergrad and my goal is to eventually become a PM at one of the top <abbr title="asset management">AM</abbr> firms (Blackrock, Fidelity, <abbr title="JP Morgan">JPM</abbr>, UBS, Wellington, etc). Would...
Hi Everyone, Recently signed as a 1st year research associate at a large asset manager (think Fidelity/MFS/T Rowe) and was curious what anyones thoughts/suggestions were in terms of lateraling from out in a year or two to do a top <abbr title="Masters in Business...
Hey yall, I have a first round interview with <abbr title="JP Morgan">JP</abbr> Morgan for an <abbr title="full time">FT</abbr> Analyst role in Private Banking. Most of my experience has been in <abbr title="investment banking...
I Passed my Series 7 yesterday and I thought it would be helpful to share my experience in efforts to shed light on this exam. I'll cut to the chase, its a BEAR no pun intended. However, Its not impossible. I have a masters degree, got excellent grades in school, but never did well in...
I'm a rising junior at a top 25 university, but non-target. I'm currently interning with the <abbr title="asset management">AM</abbr> group of a bulge bracket investment bank and recently received a return offer. I've absolutely loved my summer, my team, and...