Hi all,I am currently working on a few pitches to try break into the hedge fund industry. How much time would you invest into each pitch for recruiting purposes? From my research, analysts might spend a few weeks on a pitch while working full time but is that what would also be expected of someone who does it while working a different full time job?How much depth and scuttlebutt work would be expected?While I already have a few ideas from my PA, I would like to prepare new pitches that address the firms I am targeting directly (mainly SM, focusing on event driven).Thank you in advance!
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Based on the most helpful WSO content, the time investment for creating a hedge fund pitch can vary depending on your circumstances and the depth of research required. Here are some insights:
Time Investment:
Depth of Research:
Quality Over Quantity:
Tailoring to Target Firms:
In summary, while the process may take weeks or even months, the depth and quality of your pitch are critical. Focus on creating a pitch that demonstrates your investment thinking, aligns with the firm's strategy, and showcases your ability to conduct thorough research.
Sources: Breaking into buy-side equity research - my experience, https://www.wallstreetoasis.com/forum/hedge-fund/advice-on-hf-recruiting?customgpt=1, Differentiating yourself for hedge fund recruiting (post-IB), How long does it take to formulate a investment idea / stock pitch, https://www.wallstreetoasis.com/forums/qa-hf-out-of-undergrad?customgpt=1
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You should consider the interview an opportunity to prove you can do the job and are ready to hit the ground running on day 1. If you put in enough time to produce fully-fleshed ideas, you'll cause a positive impression.
If you show up with a half-assed idea, they might infer you're not aware of what a fully-researched idea looks like, or maybe that you don't want the job enough.
Ultimately it's a hyper-competitive industry with a lot of highly-motivated smart guys eager to break in. You want to compete against those guys putting in a half-baked effort, I think you know what kind of results you can expect.
I appreciate the response and that is also my way of thinking.
Only worry I have is that I might end up spending too much time on an idea and miss out on opportunities that come up in the meantime. I guess that is just the risk one has to take.
Bigger risk is the idea "plays out" and you're left with an obsolete idea. Why ideally you want to have 2-3 in your pocket, and they need refreshing every few months.
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