I have a 2 hour hedge fund case study in a few days, with a long value-focused fund. I'm in consulting and have little experience with financial modeling.
Does anyone know what I can expect and what's typically given in 2 hour case studies, or any resources? Thanks
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damn you didn't practice or anything? you might be cooked but google hedge fund / PE modeling case studies, there are some you can buy
Frankly I didn't expect to get past resume review lol, was just shotgunning applications.
Former consultant in finance here...depending on what you mean by a few days you could be fine (i.e., if you have the weekend). You should also see if you can find out more about the case study (i.e., from the headhunter or from friends). I've had some SMs that never had me build a full model especially early on.
If I were you I'd start by buying a HF interview course from WSO or similar. You won't have time to watch all the videos so skip all the fluffy stuff. Start by learning to walk from revenue to net income (make sure you understand every line). Next make sure you understand what the links are between the income statement, B/S, and CFS. Spend some time thinking about different ways to make a more granular revenue and cost builds from sell side research models you'll probably have access to through your consulting firm. That's day 1.
Day 2 just rip a few models on public companies in the sector you're interviewing for if you know. Would recommend looking at the firm's 13F and seeing what companies they own, case will probably be on a name they know.
Last thing is don't try to be someone you're not, they're interviewing a consultant so you should be good at breaking down market and business quality. Index there and don't focus as much time on things you don't touch in consulting like capital structure or share dilution. Good luck!
Thanks, this is really helpful. I tried to get info on the case study, all I know is there will be a word doc and an excel file for me to work on.
Do you have any idea on what kind of modeling they'll want in 2 hours? Just 3 statement alone or also DCF? The job posting was listed as an entry-level position (I graduated less than a year ago) so I'm not sure how much they are expecting applicants to know.
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