Nepotism in HF
My cousin owns a HF where I’d love to work. While I’m not extremely under-qualified, I’m not the typical ivy->BB like the rest of the firm. I don’t want to impose and ask if I can work for him but also feel like I should try take advantage of any possible nepotism. Has anyone networked with relatives or seen examples of nepotism before ?
2 things. Yes nepotism is super common. But, what is your background? If you aren't producing at an HF you will be an ex-HF analyst pretty quickly.
Should be good enough just not enough to hit the ground running day 1 like everyone else. Top 50 UG finance, passed CFA level 2, work in boutique FI sales.
Happens all the time, but mostly at the junior level.
Half the interns I hire come 'strongly suggested' from my LPs. I also have friends who were 'strongly suggested' to hire junior analysts in the same situation. The thing is, an intern is fine as they'll be gone soon. Someone super junior is probably okay in certain instances (i.e. there for a year before a MSF grad program begins or for a year before working for their Eastern European oligarch father), but the more senior you are and the more P&L you are directly/indirectly responsible for, the less likely nepotism will get you a job rather than just getting an interview.
What’s the typical age or years out of UG where people come off as non-junior. I’ve seen people hired a year or 2 out of school, not sure if they’re directly contribute investment ideas or just take orders from more senior analysts.
tldr; go for it
If markets are efficient, it should be as hard to outperform as underperform. If you are really good at underperforming prior to fees, then you are a really valuable asset to his firm, since you’d be a reliable signal to him (he would know to do the opposite of what you say). For this reason, you should never feel under qualified for a job in the hedge fund world.
In reality though, the sort of performance that matters is the theatric kind, not the kind that involves beating the market. So long as you *seem* like a fit, it doesn’t matter whether you are or aren’t. you should take the advantages you have whenever you can.
Really enjoy the concept of keeping someone around that you consistently know is going to be pitching the wrong ideas for you to make the opposite trade. Reminds me of the Seinfeld episode where George starts doing the opposite of everything he normally would do
I think bobbybanana is on a roll lately. Some of the highest quality troll posts I've seen in a while
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