Build investing edge while young, before going independent
Ignore title. I'm a few years out of undergrad, working in TAS Deals (think quality of earnings, valuation, etc.), accounting background.
My long-term goal is investing and trading my own money in public markets in ten to twenty years. Not starting and running a fund or building a career for its own sake, just being able to do serious analysis and invest money well, and live a lifestyle/make enough money that's really family friendly and self-sufficient. I could focus on analysis, markets, and improving while making good money and not needing to sell to clients and hire/fire people.
My strategy for trying to build edge while I'm younger is twofold, deep sector knowledge in places retail doesn't pay attention to, like cyclicals (esp. nuanced and unpopular sectors) and smaller companies, and enough capital structure and instrument fluency to know where in the stack to invest and which tool fits the situation, whether that's equity, debt, leverage, options, or something else.
So the near-term pivot looks like restructuring or investment banking to me. Rx IB/PE/Private Credit/other investing roles are not realistic from TAS right now, which is why I've narrowed it down, rightly or wrongly. (There's not a lot of these seats and the default feeder is IB, where it is possible they are likely not that strong).
Restructuring seems like the fastest way to learn capital structure depth and see how companies perform under stress, while paying well enough to clear student debt and start saving. Investment banking is an alternative path as well, certainly strong comp but different skills and exposure. Not moving into anything bigger than MM in IB.
I didn't grow up around finance and am learning as I go, so I don't have this all figured out. Even if it doesn't workout I'm sure I'll do well regardless. Curious if anyone has an opinion about my goals and the way I'm approaching it, and if you have any advice, whether you think it's unrealistic or you would approach it differently. Thought I'd post this in the HF forum as it seemed like the most natural place to post it.
Thank you!