Advice for Incoming Intern at HF?
I’ve recently landed a summer internship at a HF and was wondering how best I can prepare for that. I’ve been reading textbooks like Natenberg but other than that I’m not sure what else I can do.
Is there anything else I could do other than tryna cram knowledge in my head?
(My background is in physics so I don’t know a lot of finance peeps, appreciate any thoughts)
Ah, swinging from the branches of physics to the high-speed trading floors of a hedge fund, are we? That's quite the leap, but fear not! Based on the most helpful WSO content, here's a treasure trove of advice to help you prepare for your summer internship at a hedge fund:
Understand the Fund's Strategy: Each hedge fund operates differently depending on its strategy (e.g., long/short, event-driven, macro). Try to get a grasp of the strategy your HF employs. This will help you understand the kind of work you'll be doing and the kind of knowledge that will be most relevant.
Brush Up on Financial Modeling and Valuation: While your background in physics has likely given you a strong analytical foundation, finance is a different beast. Familiarize yourself with the basics of financial modeling and valuation techniques. There are plenty of resources available on WSO and other platforms that can help you get started.
Read Widely: Based on the highest-ranked content on WSO, it's recommended to not just stick to textbooks. Expand your reading to include financial news, hedge fund letters to investors, and books on investing. Some recommended reads include "The Intelligent Investor" by Benjamin Graham and "More Money Than God" by Sebastian Mallaby for a deep dive into the world of hedge funds.
Network Within the Fund: Even before your internship starts, try to connect with people at the fund. Given your unique background, showing eagerness to learn and asking insightful questions can make a positive impression. Networking can also give you a clearer picture of what to expect and how to prepare.
Learn the Lingo: The financial world is full of jargon. Familiarize yourself with basic finance and investment terms to ensure you're not lost in conversations. WSO has a plethora of threads and discussions where you can pick up the lingo.
Work on Your Behavioral Skills: Hedge funds value individuals who are not just technically proficient but also fit well within their culture. Brush up on your behavioral interview techniques, focusing on teamwork, leadership, and your ability to handle pressure. The WSO Networking Guide can offer insights into how to present yourself effectively.
Stay Curious and Flexible: Your physics background can offer a unique perspective. Don't shy away from leveraging your analytical skills and thinking outside the box. Hedge funds appreciate interns who can approach problems creatively.
Remember, the key to a successful internship is not just about cramming knowledge but also about showing initiative, being eager to learn, and adapting quickly. Dive into the WSO Academy courses if you need a more structured approach to learning finance basics. Good luck with your internship, and may your summer be as thrilling as a quantum leap!
Sources: How to get a Hedge Fund Internship, Any info on Elliott?, https://www.wallstreetoasis.com/forum/hedge-fund/the-hedge-fund-experience-good-bad-ugly?customgpt=1, Summer 2017 Investment Banking Interns - Do's and Don'ts List, Q&A: 3rd Year Hedge Fund Analyst
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