How to learn about HF's?

Incoming SA in IB at a regional but known MM bank. Uber-rural background, so getting exposed to finance has been a very hectic and rapid process.

I've become more and more interested in the idea of working in HF's, and I've learned a little bit about them (elementary mechanics of L/S hedging, MM vs SM etc.), but how do I go about learning deeper about what the job really is (even just a day-to-day)?

I understand it's a bit paradoxical that I'm asking how to research a job that's biggest factor of success is research, but I'd appreciate any help on this one. I'm not asking for a comprehensive guide, but just how to get set down the right path to be able to network with somebody and not make an ass of myself (is networking even a thing with HF's?). Thank you.

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Most Helpful

Here's a place to start on fundamentals:

https://www.kevinrooke.com/book-recommendations/bill-ackman

Podcasts can be helpful too - here's a list but is by no means exhaustive:

  • Capital Allocators - pretty diverse (just did a podcast with a MM and it explains the business model a bit)
  • Meb Faber Show - skews value & some quant in some cases I think?
  • YAVP - value and special sits
  • Alpha Exchange - diversified
  • Flirting with Models - quant
  • Acquirors Podcast - value
  • All the Credit - credit
  • Market Huddle - macro 
  • Macro Sunday - macro

Your post and intern role will skew to equities but I tried to include a little bit of everything in that list. Strategies can be VERY different and will impact the day-to-day, etc. Once you're good with the fundamentals and what strategy you're interested in you can start to lean more into podcasts & materials that are talking through investment ideas specific to that strategy to see what different people deem most important. 

Also youtube is your friend. Tons of videos of interviews with every manager around to watch and learn from. 

 

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