HF and Wallstreetprep
Hey y'all
In my country, The Nethelands, not much attention is paid to financial modelling and valuation (in comparison to the US). So, I was thinking to buy the WallStreetPrep premium pacage to get more familiar with modelling and valuation (I have a degree in international business administration and I’m finishing my Msc degree in BA).
I have a question regarding the usefulness of WSP. When I get an intern position, will it help me to understand certain things more carefully because I know (after completion of WSP) how models are build? I'm allready familiar with accounting and finance. Or do you think that it is a complete waste of money?
Or do you have ideas on other self-study courses that will be more useful? But the duration to complete a course should be 100 hours max, because my summer vacation is over in 4 weeks.
PS: I already have certificates (from private institutions) in Investment & securities and Financial arithmetic & statistics.
Thanks in advance.
HFs deal with more quantitative work in asset classes and not corporate finance in which WSP is centered on.
In more detail WSP focuses more on financial statements modeling so you can value a company for various purposes (IPO, M&A, LBO). Though you can argue to a point that you can value a share of a company through modeling, i.e. terminal value/shares outstanding.
For HFs I'd look more into reading more about the markets (bloomberg, wsj) and how asset classes are correlated and move in relation to new information (think beta). As you may already know HFs perform certain strategies so it'd be best to look up what the firm you are applying to does. Look into understanding options and their pricing (black-scholes) and other derivatives. Also look into bond pricing (discount the cash flows etc) and simple calculations in beta, cost of equity, etc.
As an intern I'd assume they'd be more impress with you understanding of the markets and calculations instead of knowing how to do modeling for M&A, though, u can argue that you can perform a merger arbitrage (short the acquiring firm and buy the acquired firm)
Good Luck
Thank you for your comments longn.
Well, the HF's that perform a strategy like global macro, multi-strategy and equity long/short will suit me the most for various reasons that will take too much space to explain that here.
But do you know any companies or instituations that offer self-study courses (by which you will have to take an exam and get a certificate) in option theory or in other fields that would be helpful? Because Google does not provide me with that info, or maybe I search in the wrong places.
More comments on WSP are welcome as well.
The CFA or CAIA is what you're looking for. It is of course very difficult and requires a lot of self-study. It is also very expensive if you don't have a sponsor.
Yes, I found them also. But I was looking for a self-study course of $500,- max including exam and certificate. I do not have a sponsor. I am still a student and I am paying for all these training/courses myself.
I did not apply for anything yet. But I will send my resume to various HF in the United States. But before that, I wan't to gain more knowledge about anything that has to do with investment etc.
As said before; I'm interested in HF's that perform long/short equity, multi-strategy or a global macro strategy. But if more people agree that doing a Wallstreetprep course is a waste of money (regarding my plans and requirements), I won't do it.
So, my additional question is; are there any other self-study programs/courses that I could follow, such as in options, technical analysis, or financial math, etc. that are well known in the US and does not exceeds $500,- including exam and certificate and can be completed within 50-100 hours.
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