Q&A: Equity Research in HK/Singapore

Question

Hey guys, I've been lurking on WSO since my undergrad, and thought it was a good time to give back. A bit about me... Grew up in a Western country, did high school in SEA, university from a top school in Australia. Did everything a bit accelerated and graduated at 19. First job out of college was a family office which started a long/short fund, looking at global TMT. After a bit over a year, moved to the sell side to do ER, covering a number of sectors. I was a research associate for a year, then got offered coverage before I left (due to several reasons). Quit to move into VC (firm I moved to was badly run) so I'm now moving back into a long/short fund.

Bit of an unconventional life/career path etc, but thought it would be good to spread a bit of love with my experiences. Shoot!

EmulatedBYJ · Accepted Answer

I think ER is in a tough spot right now with new regulation and weak volumes overall. Bonuses at my shop were the worst in over 15 years last year (part of the reason I left), with many people getting 0. Structurally I don't see how this will change with perhaps a wee bit more upside from such things as the HK/Shanghai connect, but personally, I wouldn't move back into sell-side ER.

I'm not too familiar with the VC scene since I've only been around for a few months, but I think VCs are primed to do well in SG with so much gov't support.

EmulatedBYJ · Answer

The first one was very informal since it was a family office - they initially asked me to consult on a potential VC investment but they started the LS at the same time and I just kind of moved in there after chatting with the PM and him making sure I wasn't an idiot.

The second one involved just two rounds. First round was with the PM and COO. Partially fit, and talked a lot about my ER/prior LS experience. They asked about my motivations for leaving, how I go about generating ideas, what I look for in a stock.

EmulatedBYJ · Answer

I'll comment on SG since I've spent most of my time there - I've only been in HK a few months.

For the BB's it will be very tough.

EmulatedBYJ · Answer

Hey goodbull,

I did 2 internships with BBs with a rotation in one of them, so I had a fair idea of what I didn't want to do (IB). I don't think my age has been a hindrance in any way - I my age on its own has given me a bit of room to move around and try new things (within reason - don't want to fill the resume with 20 different things making me look entirely indecisive).

To be honest, I wasn't sure what I wanted to do immediately after uni so I took a short contract role in structured finance while putting out feelers elsewhere.

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Q&A: Equity Research in HK/Singapore

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Q&A: Equity Research in HK/Singapore

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