From Special Sits (public & private) to Macro / Multi-Asset HF

Based on the most helpful WSO content, here are some insights on transitioning from Special Situations (SS) to Macro / Multi-Asset Hedge Funds (HF):

1. Industry Trends and Transition Tips:

   • The buy-side is consolidating, with most assets going to a few firms that have outperformed in recent years. This re-concentration means fewer but larger firms dominate the industry.
   • To transition from SS macro research to a fund, having Series 7/63 and relevant experience is beneficial. Networking and leveraging your current role to build connections in the buy-side can be crucial.

2. Preparation and Study:

   • Reading and studying are essential. For instance, spending 3-4 hours after work reading white papers, sell-side research, and learning the math behind option theories can be very helpful.
   • Developing a macro understanding involves a top-down approach, starting from central bank policies to political infrastructures.

3. Skills and Experience:

   • Having a detailed technical background, such as a PhD or postdoc in a relevant field, can be advantageous.
   • Experience in strategy and corporate finance, as well as being sharp with numbers, is beneficial.

4. Practical Steps:

   • Consider switching to a trading desk more relevant to global macro if your current role isn't providing sufficient experience.
   • Lateral moves to more prestigious firms (e.g., BB) can be beneficial, but the prestige of your current firm may not always matter.
   • Building modeling experience and preparing stock pitches or ideas can be more relevant for certain transitions.

For more detailed discussions and personal experiences, you can refer to the following threads: - https://www.wallstreetoasis.com/forum/hedge-fund/qa-head-of-macro-strat…</a">Q&A: Head of Macro Strategy at Hedge Fund Taking Questions - https://www.wallstreetoasis.com/forum/hedge-fund/qa-pm-at-hf-former-sel…</a">Q&A: PM at HF (Former sellside macro trader)

These resources provide valuable insights from professionals who have made similar transitions.

Sources: Q&amp;A: HF Analyst @ $5bn+ Fund - Breaking In and Transition to Risk-Taking Role, Q&amp;A: Non-Target School to Portfolio Manager at a Top Hedge Fund – 6 Years Out of Undergrad, Q&A: Head of Macro Strategy at Hedge Fund Taking Questions, Q&A: Head of Macro Strategy at Hedge Fund Taking Questions, https://www.wallstreetoasis.com/forum/job-search/help-me-formulate-a-career-plan?customgpt=1