Many senior analyst and PM interview processes at the multi managers have a mock portfolio step. For those that have participated in or overseen these rounds, how do you judge whether someone has approached this well. What are the best practices on what to discuss vs not, given the conversation is relatively time limited?
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Based on the most helpful WSO content, here are some insights on how to approach the mock portfolio step in senior analyst/PM interviews:
Judging the Approach:
Best Practices for Discussion:
What to Discuss:
What to Avoid:
By following these guidelines, you can effectively demonstrate your analytical skills and investment acumen within the limited time of the interview.
Sources: https://www.wallstreetoasis.com/forum/private-equity/then-and-now-compbanker?customgpt=1, THEN and NOW: @CompBanker, The Best IBD SA OCR, Interviews and FT Offer Conversion Posts on WSO, Q&A: Barclays IB to MM Private Equity, Q&A: 3rd Year Hedge Fund Analyst
It obviously has to be a portfolio that is relevant to the style/mandate of the fund. In a MM construct, 99% of the time this means market neutral, largely factor neutral, etc.
This is very obvious and straightforward for most people that've already worked at a MM.
Thanks, agreed that it's fairly straightforward to construct one if you've worked in the model before. More curious on how a fund judges a good effort vs a bad one assuming that the technical aspects are fine, i.e low factor/mkt neutral/high idio risk/single stock focused short book/managed sub sector exposures, etc? Or is this more typically a check the box type exercise?
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