I am a freshman at a top target school in Canada (Queens/Ivey)
What should I start doing this summer and the start of 1st year to maximize my chances of working at a pod shop hedge fund like Point 72.
I appreciate any advice that is given to me.
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To maximize your chances of breaking into the hedge fund industry out of undergrad, especially aiming for a pod shop like Point72 or a long-only hedge fund, here are some detailed steps based on the most helpful WSO content:
1. Networking
2. Internships
3. Technical Skills
4. Academic Excellence
5. Extracurricular Activities
6. Certifications and Additional Learning
7. Soft Skills
8. Interview Preparation
By following these steps, you can significantly improve your chances of breaking into the hedge fund industry out of undergrad. Stay focused, be proactive, and continuously seek opportunities to learn and grow. Good luck!
Sources: Q&A: Non-Target School to Portfolio Manager at a Top Hedge Fund – 6 Years Out of Undergrad, Ho-Hum to Hedge Fund, Point72 Accelerated Recruiting, Point72 Interview Nightmare, Preliminary Interview at Point72
Congrats on Ivey. If u do well in the P72 pitch comp u will be guaranteed interviews so would say start grinding out stock pitches and try to get others to review.
what is the pitch comp?
What do you think the P72 Pitch Comp would be called?
Check limestone’s page and have a look on LinkedIn. There’s a few people I can think of off the top of my head that just went down from Queen’s. Would checkout there training program as well and I think it’s worth just applying. I also know there’s a few Queen’s alumni there high up already.
Lot of helpful advice so far, I'll give my two cents:
As someone who also attended one of Canada's most prestigious universities (Queens/Ivey/UBC), as well as a member of one of Canada's most prestigious undergrad clubs (Limestone/Westpeak Research/WIC), but ultimately failed to land a hedge fund spot, I can shed some light:
1. Become one with the market. I used to wake up at 4:00am for mediation before the market opened. Some of my best and most prestigious ideas came to me at these times.
2. Follow Bill Ackman on Twitter - thank me later.
3. Send stock pitches to HF analysts via cold email. Bonus points of you attach a model.
Good luck.
This is bad advice
You may say that, but when all is said and done, only one of us almost made it into a hedgefund, and that one of us is none other than me.
Lol
I was an analyst at top NYC BB IB (hence my title) before exiting to a strong pod at Cit/P72/MLP, so I think your assessment may be a bit off...
yes but did you almost make it to a hedgefund while simultaneously attending one of the most prestigious canadian unis while simultaneously becoming a sector head at the unfathomably prestigious student club that i was at?
We'll see who's laughing when Bill Ackman finally answers my cold emails...
.
Dawg I'm messing around don't do this lmao
Westpeak kids do be chronically on WSO
Well it's not like they're busy with interviews...
.
I’m not trying to spoil, but Canadian HF scene is so tiny, there are just a handful of firms worth looking at (Waratah, Polar, Anson, Maple Rock, etc).
I believe Waratah, Polar, Anson, and Ewing Morris hires an intern every semester, but it’s really tough to get in. Moreover, even if you secured the internship, it’s very unlikely to get the full-time offer as they are looking for more experienced hires. Also, it’s about the timing, as there should be someone leaving or the firm expanding to have the spot open, and so it is not only rare but also there are 100+ bankers lined up in front of you.
I’ve actually done an internship at one of above HFs, but didn’t get the return offer. However, that’s not the end of the world as the brand name carries to other gigs like LOs, and I got the offer from reputable LO in Canada myself as well.
In terms of prep, you just have to fall in love with stocks. Prepare stock pitches, do stock pitch competitions, case competitions, join finance clubs, and network with people. These people will know in 1 second whether you are in this for money or just enjoy analyzing stocks.
Long story short, Canadian buyside spots are very limited vs US. Your best shot would be doing internships at LOs, pensions, or doing banking prior to HF. If you are Canadian, try US as well.
1. I'd recommend you join an investment club - research/network, which ones you find most appealing/culture fit. Interviews usually happen at the beginning of the year and then again in March before the winter/spring semester ends.
2. Learn how to analyze a company, focus on doing a bottoms-up approach when building out your models. Read industry reports about whichever sector you find interesting/want to work in. Most importantly, learn how to develop an investment thesis that supports your overall consensus on the company's performance/historical's - evaluating a company is one thing, knowing how to develop a view or opinion is another. The whole idea in fundamental equities or L/S is that your view is different from the street's (in most cases).
3. Read finance books - Liar's Poker, Caesar's Palace Coup, The Intelligent Investor, More Money Than God, etc. These are just a few of my favourites but honestly try to read as many books as possible that you find of interest.
4. Take an upper-year finance course focused on financial institutions/markets if you can - and learn the technicals. Finance is very connected - learn to understand how the market works and how various different segments connect (basic example: how interest rates affect the public/private markets, etc.).
Overall, remember to enjoy your undergrad and try not to stress it too much!
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