What’s the best way to learn the technical knowledge of AM?
For so long I’ve been interested in becoming an investment banking analyst, but after taking a class on it and hearing some of my friends talk about it, it seems that it may not be the career for me.
Recently, I have grown more interested in AM and I would love to learn more about it.
What steps should I take to increase my technical knowledge in asset management?
I was thinking about buying the Hedge Fund WSO Interview package and I would love to hear your guys’ opinions. Any comments are appreciated. Thanks!
Are you looking at technical, sales, or other?
If technical (analyst, PM, etc. basically anything on the product end of things) get your CFA Charter. If sales, a CIMA and excellent networking will do. If other, I can't help.
I will tell you it is a brutal job to get into unless you work somewhere where the products sell themselves, like Vanguard, and then the pay is crap.
Let me tell you, the industry is hard to get into, and if you do the worst roles, like internal wholesaler are most likely. It took me seven years in finance, and two+ after I got my charter to break into a technical role. (or any AM role at all)
Relevant Technological Skills for Future in AM (Originally Posted: 10/18/2017)
Hey guys, so I've been reading at work a lot lately about the future of automation and the implications for the investment management industry. As we all know, jobs are and will be at stake in the future because of increased cost pressures on AM firms, and the ability to replace expensive labor with cheaper and more efficient tech. I work in FI, so automation hasn't hit our asset class as hard as some others, but I still worry about the future of the industry. I don't think our roles (mine is FI Research) are going to just vanish, but I still want to prepare myself as best I can for the future. My question is then; what tech skills would be useful to develop in order to stay relevant in the industry (besides the obvious ones like excel, VBA, etc.)? Any books or online courses you've found particularly useful/helps differentiate you from your coworkers? Any help's appreciated.
Great question. No clear answer but silver banana for asking.
What skills should I focus on for AM? (Originally Posted: 02/28/2015)
What are some skills that are recommended for an undergrad looking to get into Asset Management? Sometimes it feels like my school doesn't teach practical skills but just finance theory.
What are some good guides/books that I use to get good at Excel? Preferably Excel skills that an analyst would use.
Should I practice stock pitching?
Know the markets and how the game works
Unless you're an AM analyst, AM is much less about modeling out DCFs
Any books you'd recommend? (fundamentals, 10k evaluation, finding value, etc.)
bump. Also interested in this.
Since so much of AM entails research and critical thinking you should start with the search function. Follow current market events and read as much as you can by and about top portfolio managers (Buffett, Graham, Klarman, etc. for value, Soros for macro, etc.). Over time you will begin to develop your own worldview. For example, when I first read Margin of Safety, Security Analysis, Buffett shareholder letters, etc. I found that value investing really resonated with me and matched my personality and investment approach. You may also consider sitting for CFA level 1 as it provides a broad foundation from which to begin your investment career. I completed my CFA in 18 months even though I have spent my entire career in PE and occasionally earlier stage VC. Probably not the best use of my time and a significant portion is useless (even for AM) but I actually some aspects of it. As far as modeling, go with WSP or BIWS ir even free services like Macabus. Damodaran at NYU also has a great website full of great free resources.
I was an AM analyst for a big shop. You need to know how to work the excel and powerpoint (most people are good at that part). But one thing people don't realize is a lot of what analysts do is to coordinate projects and get information from different people. Work with PM, credit guys, marketing, sales and etc. You need to be extremely resourceful and people from your team and other cross-functional areas have to like you enough.
Finance, accounting, excel, etc...
Above posters are spot on. Understand the markets, learn the technical skills (excel, ppt, etc) and learn to think critically. A deep dive into a few stocks/bonds/companies (whatever field you are interested in) to understand what to look for, how to find the info you need, etc
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