Distressed Debt the most right-tail outcome?
I'm a student at Wharton, and I'm trying to optimize for the most hardo outcome that exists outside of quantitative finance. To me, it seems that that is long-short. However, some are saying that could be distressed debt or private credit, and I'm confused. Or maybe even activist investing, and I'm confused about all of those and how they play out immediately out of college. Should I be optimizing for credit or equity-type stock pitches or projects? The problem is, a lot of people say, "Oh, you have time. You can just figure it out, do an internship, explore." But frankly, there are no definite outcomes, and I think the best exploration is the community here on Wall Street Oasis. Given the forced choice of picking one thing, what is the most extreme finance role you can break into out of undergrad, excluding quantitative finance?
Genuinely curious - what's the argument for PC here?
There is none. Do not go to PC thinking you are getting a right tail…the asset class doesn’t even have right tails.
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