Ruane Cunniff/Sequoia Fund 2025 SA
Any insights on the process - how many rounds to expect, what the first round interview (1hr) is like - would be super helpful. Thanks
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have interviewed with them for the same position in the past. had 2 rounds (first with head of recruitment salina and then a member of IC). first round was standard behaviourals and surprising number of macro questions, final round was very value-investing philosophy heavy. re-read the intelligent investor and prepare a pitch where you really think critically about business quality itself. if you listen to podcasts with current RCG guys, half the firm doesn't even model, so there's less of a need to come to a real concrete valuation (my discussion focused entirely on competitive advantages, wasn't asked a single numerical metric whether that's comps or revenue). good luck.
Could you elaborate on half the firm not modelling? How do they approach valuation? Thanks
?? if a business has high returns on invested capital and real competitive advantages to defend against losing market share or margin, why do you need a model to tell you if thats cheap or not?
Super helpful thanks. What podcasts are they on? Should pitches basically be like what they have in their shareholder letters.
Maybe try searching for Ruane Cunniff on Apple Podcasts or look on their website?
bumping this as i have an upcoming first round with them and would love some advice
Bump
For nyc?
yes
Why would u ever want to work here this fun is a joke and has ruined bill ruane’s legacy.
wanna do my interview for me
I know RCG very well, the fund is a clown show. Internal fund / IC structure is politicized and horrific, work quality is poor, performance is abysmal. I recommend college students to avoid the fund at all costs. Junior training is practically nonexistent and that’s even if you get the return offer (which is maybe 1? person out of undergrad every 3-4 years).
They posture as this intellectually superior fund but the only reason the firm is kept afloat is due to 70 year old concentrated LPs conflating RCG with exposure to value when all they do is destroy value. You would not believe how checked out some of the guys at RCG are, and I mean working 25 hours, prioritizing side hobbies-level checked out.
If you want to learn to become a great investor, RCG is not the place for you. If you want to grift to LPs and back up underperformance with nonsensicals and Buffett quotes, RCG is the perfect fit.
Do you have any color on why LPs stick around? Is Ruane’s name brand (even though he’s long dead), proximity to buffet, and smart marketing really good enough to trick LPs?? What are the other incentives—are the LPs friends with some of the partners and they’re paying them off on the side?? I’ve been asking around about this and haven’t gotten anything solid from the “value guys” I know.
wanna do my interview for me then!
My friend/roommate works here and can confirm everything you’ve said. Comp is meh for juniors and he is miserable here.
Tell him to sauce a brotha and help me w my interview
"If you want to grift to LPs and back up underperformance with nonsensicals and Buffett quotes, RCG is the perfect fit."
this honestly sounds like the dream if you keep the job
Anyone know comp?
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