How do I become a good HF intern (L/S)?

I’ve lined up some experience at a HF pretty soon, and was just wondering what quality, skills and abilities should I have to be a good intern? What models should I be able to produce? What concepts should I be rock solid on? What would be above and beyond at this stage? 

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Congrats on the offer, I’m sure you’re excited.
The biggest thing you can do is be intellectually curious, a sponge, and eager but not annoying. Take notes on everything and write down any questions you have. The job of an analyst is research so think of any way to answer the questions and try to do so before asking your analyst/pm. By virtue of having an intern I bet they’d be happy to answer questions but still best to try and do it yourself first as that’s critical in the seat.

Your job is to learn and be as helpful as you can while not being a burden. You don’t know anything and that’s perfectly ok. I don’t think they’ll expect you to know any models but if you can understand how a three statement model works and specifically the income statement then that’s a skill set you’ll use for the rest of your career. Best of luck and hope it’s a great experience

 

Also interning at an HF this summer, and what I've heard alludes to what other people said. Ask questions, do all the basic things right, and try to go above and beyond. Publics is very much what you put in, is what you get out (maybe not from a returns perspective but from a learning perspective). If your fund has a lot of ppl that did distressed/specific coverage groups before in IB/PE, learn from them try to reach out and ask questions. Maybe ask for a model or two to give you guidance to build your own.

Go above and beyond. If you get to sit on mgmt calls and investor prez, take notes, see what questions ppl ask, and if allowed, try to ask a well-researched q

Best of luck man!

 

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