2+2 Candidate HF curious with some concerns


Can you learn to love it again?
Did the club thing in undergrad and actually enjoyed it. Lost the trading muscle after years of being heads down in IB/PE and tight compliance rules. Now I’m not reading 10-Ks at night or tracking stocks 24/7 like some people claim to. Is this a death sentence? Can the passion come back once you’re actually investing again, or does the fact that I’m not obsessively following markets in my free time mean I’m not built for this?
Is individual skill even real or is this just survival bias?
From what I’ve read, alpha at the pod level comes from risk management and diversification, not individual PM brilliance. Mathematically it seems like you’re just rolling the dice… if you’re in the 60% who survive each year and compound that luck, you make a fortune. If not, you wash out. Are we all just pretending skill matters when it’s really just variance? Or is there actually a way to know if you’re good vs. lucky?​​​​​​​​​​​​​​​​ Seems like the intense SMs or cushy SM seats are even worse in this regard.
Bonus points if anyone did MM or SM por 2+2 and love it or regret it and why, thanks!

10 Comments
 
  1. You haven’t lost any “trading muscle” as an undergad with IB/PE background, you never had one to begin with
  2. You don’t need to be following the markets 24/7, nor do you need to read every line of the Ks and Qs… work smart, not hard. Smart analysts know what to spend time on vs what’s going to lead you down a rabbit hole. That’s skill, not luck. That’s said, you do need to enjoy your work, you need to be excited to learn and read (a lot)… without that you won’t survive long.
  3. Luck matters… but if you’re a skilled analyst, you reduce your reliance on luck for favorable outcomes on your trades
  4. Being “unlucky” on a trade is 90% of the time a cope out for not doing the right work
  5. A great PM knows how to manage risk and build a team that can run a tight process… that’s not luck, that’s skill. That‘s a team you want to join.. the opportunity to join such a seat though… requires skills but is mostly luck
 

Aut ut expedita fugiat et quas. Est ipsam placeat deserunt vitae. Velit ipsum voluptatibus dolore voluptatem ab eum eius. Deleniti id doloribus optio voluptatem nisi.

Fuga vel assumenda alias id et sapiente dignissimos. Quaerat incidunt dolorem qui aperiam. Tempore est unde aliquid harum odit sunt repellat. Voluptatem animi labore sed eum ipsa qui sit recusandae.

Tempore qui totam et qui laborum. Ea vero quidem ullam laboriosam rem ipsa nobis. Fuga aut accusantium laudantium quia voluptate non cum. Sit qui illo sint ut laborum reiciendis consectetur.

Ea voluptatem voluptatem enim neque sit nemo voluptatem ea. Ducimus fuga pariatur ipsum quae eos dolor vitae. Repellendus consequatur beatae aliquam quidem nisi rem repudiandae quos. Vel quis sed explicabo id. Dolores totam ut veritatis occaecati cum sit ducimus repellat.

Career Advancement Opportunities

September 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.0%
  • Citadel Investment Group 97.0%
  • AQR Capital Management 96.0%
  • Magnetar Capital 95.0%

Overall Employee Satisfaction

September 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • D.E. Shaw 98.0%
  • Blackstone Group 97.0%
  • Citadel Investment Group 96.0%
  • Two Sigma Investments 94.9%

Professional Growth Opportunities

September 2026 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 98.0%
  • D.E. Shaw 97.1%
  • Citadel Investment Group 96.1%
  • Magnetar Capital 95.1%

Total Avg Compensation

September 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (11) $372
  • NA (9) $320
  • Engineer/Quant (83) $287
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (76) $193
  • Analysts (234) $178
  • Intern/Summer Associate (29) $145
  • Junior Trader (5) $102
  • Intern/Summer Analyst (276) $95
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
DrApeman's picture
DrApeman
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
GameTheory's picture
GameTheory
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”