Discerene Group
Anyone knows about this fund? The founder's profile looks pretty solid. Appreciate any thoughts.
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Interviewed with them. Seemed like smart enough guys. Part of the process was spending a week in their office working with them to gauge fit which they wanted me to use vacation days for. Totally ridiculous.
Interesting...never heard of any other places doing that...like one week unpaid internship?
No sense for comp, but this was for an experienced analyst position. Had done a couple rounds before the invite, but declined due to the time requirement.
it was a one week unpaid onsite work w/o any reimbursement. Can’t imagine anyone already in the industry will take their PTO to literally “work” for them for a week, needless to mention the big compliance issues involved here.This is both new and unbelievable.
Sounds like this process would work for someone coming out of college/b-school, but not if you had a FT job.
Any sense for comp?
Can you share more about the case study? I.e. does it really take entire week? Anything that can help und what to expect...?
Bumping this up in case of any update. Is it really in person?
A concentrated global value fund. They do very deep due diligence. One part of the team does more quantitative work (e.g., long-term historical data series), and another does more of a journalistic (speaking with people) work. The PM's resume is very imposing, and the fund has grown well over the years (not sure about the performance though.)
This is correct. You get to choose from two types of case studies: one that is more of a granular research (i.e., grunt work) type and another that makes you speak with the industry participants. I've heard people say that they seem to not care about the declining marginal utility of additional unit of (non-critical) information.
Yeah, the founder has quite Ivy League pedigree, came out of Deccan Value. I don't really understand the stuff they own.
Deccan founder came from Brandes so it should be pretty deep value. Good for Discerene Group for growing assets while owning stuff like Western Union.
The one week thing is ridiculous, heard from someone who went through the process that pay is meh.
Was in process with them this year. Smart guys, enjoyed the conversations, but the research project was something I would do as a 1st year analyst in banking as opposed to more thoughtful pitches or industry work on an idea. The project was also for an existing position...which was a bit of a head-scratcher. Figured it would be of more value in a process to do work on a new name as opposed to providing confirmatory analysis on an existing position.
Can confirm the one week component as well. Unheard of in the industry, but if you're going to hire one person every 1-2 years, and you plan for them to be with the firm for 5-10yrs, I actually like the idea. Having said that, it's a nearly impossible ask for an existing l/s investor to take a week off from the job and go completely dark for 10 hours a day.
I appreciated that the case study / fact finding project was on a name they already own because it means they're not exploiting candidates to do free work for them (which many funds do).
Agreed on the 1 week - they are going to self select into candidates with chill jobs. Maybe that's what's intended.
I was extremely impressed with the head guy, and I rarely am. I got the sense the place might fall apart if he weren't there, though.
Pretty sure anyone working at a fund that left for a week to work at another fund would immediately get fired. Seems like a pretty serious compliance issue.
The fact they even expect such a stupid task probably tells you all you need to know about the place
Bump. Any info on their hiring process?
What I can tell is a pretty hard industry research on a name with several rounds of writing / interview
I've heard they do deep deep research, curious what that is exactly? One OP said similar to banking year 1 work? So I assume very heavy data driven type of comps or benchmarking vs. peers?
Bump any intel
Ppl that work there are very sharp as business analysts. Requires deep thinking and logical framework to identify business value. Most of the work is identifying fair value / moat / etc. when there’s nothing to do and then waiting for something to break. Their performance is quite good (mid-teens net). The founder is easily one of the most intelligent and well read ppl I’ve ever met and seems to genuinely care about the team.
The only issue with working there is if you aren’t 100% sure you’d do it forever, I’m not really sure where you’d go next. The skill set doesn’t seem to translate that well to trad L/S or pod trading which is where the bulk of job opportunities are if you need to move or whatever.
I know someone who was pretty deep in the process and he had only great things to say.
Anyone know about pay here?
Very discerning
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Don’t work there lol. They’re a philosophy virtue signal shop that own some of the biggest ShitCo’s I’ve ever seen.
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