Silver BananaTopicReplies
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WSO Hall of Fame: Hedge Fund Forum The Wall Street Oasis Hedge Fund Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the hedge fund industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate here. If ...
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I'm a hedge fund recruiter. AMA!Howdy all, I work at the largest private search firm in the world that only does financial services. I focus on the fundamental, bottom up investing space of the hedge fund community, however we cover the full gamut of products on the buy and sell side. It's been quite a year for the hedge fund spac...
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So who's doing well right now?Keep seeing article after article about what big name did poorly in October and November and I am just curious as to who's doing well? Are there any strategies that have been thriving in this volatility or at least had gains large enough to survive it? Personally I know there are a handful of even...
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GoldenTree Asset ManagementDoes anyone know anything about GoldenTree Asset Management? They seem to be a hybrid firm split between more traditional opportunistic HF strategies and safer AM strategies. Is that correct? What has their performance been like in the last few years? Their assets seem to have steadily grown since ...
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Bridgewater Interview - Investment EngineerI was recently contacted by Bridgewater that I got invited to a phone interview for their Investment Engineer position. It will be in a couple of weeks. I heard that some people go straight to final round but I'm guessing that they wanna make sure I'm actually smart since I go to a top school in th...
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How to get from S&T to HF?I will be full-time in S&T at a bulge bracket upon graduation in an equity sales role. I know this is not a quantitative position, so how should I go about trying to transition to the buyside? Would getting a MBA at a top school in order to pivot be the common path for S&T people to get to a HF? Ar...
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2018 Hedge Fund Report: 8 Key Takeaways The 2018 Hedge Fund Industry Report compiled by Wall Street Oasis (WSO) provides insight on compensation, the interview process, employee satisfaction and more. All statistics featured in the reports are based on 2,260+ user submissions from the hedge fund industry. The report includes data fro...
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HELP: Breaking into HFHey guys, I need your advice on breaking into HF. Any advice will be helpful. After graduating from a good biz school, I’ve have been trading on my own, and in the short time horizon of my 3 years of trading, I managed to increase my personal savings, $50K to $300K. I also paid for all of my li...
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Should I take the CFA Level 1 as a college senior to help for HF recruiting?I'm a current senior who will be starting at a BB/EB this summer. I'm less interested in PE more interested in LS equity (and perhaps other strategies), so I wanted to ask if it would be worth it for me to sign up for the June CFA Level 1 exam. Would taking it help for HF recruiting / is it worth it...
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It's getting ugly out there - Baly to cut 13 stock teamsArticle just hit last night...Baly cutting 13 stock teams (~40 investment professionals) plus a bunch of back office to be cut by end of year. Oct was really bad for hedge funds, Nov has been an official **bloodbath**. MLP, Citadel, Baly all getting hit hard. Garden leaves vary by firm, but there wi...
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Bridgewater vs. D.E. ShawI'm a current business school student at an M7 (one of the perennially top ones, if that contributes) who intended to go through MBB recruiting, didn't take networking *sufficiently* seriously for my demographic, ended up with just one first round interview, got a final, but got dinged. Subsequentl...
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Point72 SalaryI am going in for a summer internship but want to know what the ALL IN COMP is for first year analyst out of college...
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Audited Sharpe Ratio of 3+Hi, I traded spot FX from 2006-2008 and US and International Equities from 2008-2016, during which time I built up an impressive track record with a Sharpe Ratio of above 3 the entire time with almost no losing months. I also co-founded a successful retail stock brokerage during that time. You m...
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What's the word on Citadel now?How should I think about an opportunity with Citadel? Are people jumping ship? They cut a lot of headcount at Aptigon recently. ...
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How do generalists produce alpha?Any generalists out there, how do you produceb alpha when you don't even have expertise in an industry or lots of experience in that space? How do you narrow down on an investment that would deliver long term returns?...
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Citadel Investment Group - Interview - N/AAs I said previously, the first round was an online assessment. The assessment was pretty standard - a few fairly basic programming questions that tested your knowledge of data structures and the like. I thought it was fairly easy and ended up being invited for a phone screen. The phone screen was a...
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Hedge Funds v/s Private Equity: Which industry will survive and thrive in the next two decades?**Loaded Naive Questions Alert:** *Apologies for the verbosity.* I recently read a thread on the hedge fund bloodbath. Coincidentally, I recently saw a video where Balysany spoke at Milken Institute's panel discussion and gave some profound advise on 'How to run a hedge fund?'; and just now I read ...
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PE -> VC -> Startup -> HF (TMT)Hi fellow monkeys! I'm looking for advice. I have 5 years of experience in PE & VC. 4 years PE, 1 year VC (which shut down due to the partners breakup). Now, I am thinking of starting a small e-commerce business selling my own products using ads on social media platforms, SEO etc to drive traffic t...
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Retail access to bank macro research?I want to read i-bank research reports. But I am just a small retail trader. What can I do? Can I charm a salesperson? Or must I really be trading yards of euros to qualify? ...
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Dartmouth Tuck: HF Jobs. Possible?I am in the process of applying to R2 for top MBA programs, specifically Chicago Booth, Columbia, Dartmouth Tuck, and Cornell Johnson. I am confident in my ability to get into Cornell, 50/50 on Tuck, but am 99% sure I will not get into Booth/Columbia. Combination of "weak" GPA and GMAT and non-URM (...
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Two Sigma Investments - Review - GeneralistExcellent work life balance makes people satisfied overall with the lifestyle balance achieved working here.. Large team and impersonal turnover makes people overall less attached to the individuals they see on a day to day basis....
Citigroup - Review - GeneralistGreat company. thoroughly enjoyed working for them. the food is great and they look after all employees.. The views within the company are very top down. not as much freedom and responsibility for junior employees....
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JD CFA GC Role Hi all I currently am a funds associate at a v20 firm in ny. I love my work but miss business side of things and am thinking in house at a hedge fund is where I’d like to end up. My thought process is study and take the cfa exams and coupled with work experience I should be able to get a decent in...
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Buy-side credit research to hedge fund?I'm a Senior at a semi-target. Large, public state school. I accepted an offer for a credit research associate analyst position covering high yield bonds. Firm is a top 20 asset manager, based on size / AUM, and I'm very excited. The team has told me there's potential for a promotion to analyst afte...
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How to make a quant internship as a sophomoreI am a "freshman" math major with a 4.0 GPA (likely will stay this high for a while since I am taking similar classes next semester) at a lower tier ivy. I am on track to graduate in 2.5/3 years, so I cannot really intern as a junior. What should I be doing to help set myself up for a solid quant in...
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Management Support Associate Role at Bridgewater A recruiter recently reached out about the Management Support Associate role at Bridgewater. Before I apply, I want to know more about what the role entails given that I have found little online. Can anyone currently or previously working at BW in that role provide some guidance on what the role a...
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Are we in a recession?I looked at market prices today and everything is telling me we are about to enter a recession. Citi is the worst bank but still about earning $7 a year and 8 pe now....all banks doing poorly. Industrials crushed. Apple around 13 pe ex-cash. Rates implying cuts in 18 months. Utilities and healt...
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Distressed Debt Analysis - MoyerHey Guys, Anyone have a pdf copy of distressed debt analysis by stephen moyer they'd be willing to send me? I am very interested in the distressed space and want to learn as much as I can. If any are willing, it'd be much appreciated....
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R vs. Python in a fundamental equity HF?Hey guys, so I'm stuck between learning R and Python, and I'm in a fundamental equity research role. Interested in learning 1 of the 2 (could learn both, but honestly I have way too much to learn outside of coding and don't have the time do learn 2 languages on top of that). For those of you who wo...
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what % of my PnL should I get?if i make for sake of argument $10mm for a fund that has a 2/20 fee structure how much of that should I get paid if i am a junior analyst that works under a senior analyst (e.g., there are 3 tiers in hierarchy)? suppose this a single manager fund. how do the following factors affect the answer? a...
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Direct Lending --> Distressed/Special Situations InvestingHey guys, I've been interested in distressed / special situations investing for over a year now, did an RX banking internship this last summer and didn't get a return offer, decided to post-pone a year to recruit for summer internships again. Given the accelerated nature of summer recruiting, I was...
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Random Thoughts on the HF IndustryIt’s been a while since I posted (sorry @AndyLouis") so I decided to come back with something a little different from my previous posts. I’ll continue the E&F posts at some point, but given recent market conditions I thought this was more appropriate. The below is a compilation of thoughts I’v...
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How are cold calls/Cold Walk ins for Hedge funds?I know walk ins/calls are frowned upon for IB but wasn't sure if this was the case for HF. I live near a few big name Hedge funds and haven't been able to connect with anyone there so I figured I might as well drop by and hand my resume for a potential off cycle internship. Thoughts?...
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Hedge Fund RecruitmentHello everyone, I'm a graduate seeking a job in London. For several reasons that don't really matter at the moment, my plan was to start as a trader at an investment bank and then move to some hedge funds after a few years, like many do. Recently, I'm also considering trying to apply to hedge funds...
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CQF Certificate Hello, I wanted to receive feedback regrading if the CQF Certificate is respected by Hedge Funds and if it will help in potentially getting foot in the door to work at a Hedge Fund?...
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Two Sigma Investments - Review - N/AThe culture is really relaxed, and the people are very talented. Mike Schuster was wooed from Google to join.. Some people might find the pace rather slow and get bored. However, for me, it's a welcome change from the grind......
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Do most hedge fund managers come from top MBA?It seems that every hedge fund manager comes from Wharton, Columbia or HBS. Few have come fron NYU or Chicago Booth. I dont see many that have started from nothing, like entrepeneurs. Why is that? Is being a hedge fund manager the only career that requires an MBA? an if so, why only the top MBA? Bec...
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Learn modeling for credit investing?Hi all - Could anyone share resources on how to learn the type of modeling that's done in roles where one is, for example, evaluating a portfolio of NPLs or other credit portfolios? This is an area I'm interested in because it is adjacent to what I do now, but I want to learn to build these kinds o...
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How much does UG GPA matter to make to move?To make the move from a S&T / ER background and not IB after a few years on the first job, how much do the large hedge funds look at undegrad GPA? Or is it more about what you do on that job you were in?...
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HSBC - Interview - Risk ManagementThen there’s a group exercise. For my group, this was similar to the first exercise in terms of the case study. The difference is that we had to analyse it as a group in around 15 minutes and come up with recommendations. After the time was up, an assessor roleplaying a client walked in and, as a...
AQR Capital Management - Review - Hedge Fund - Low hours for finance. - Office/Greenwich surrounding area is nice - Some engineers are talented . - Mediocre pay - Mediocre talent for engineering - Engineering is not valued. Choice of CTO is questionable....
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How are you "macro equity" guys doing? (Druckenmiller/Bessent style)Wondering if there are any of you analysts/PMs on here who do equities from a macro standpoint like Druckenmiller and Bessent. In a recent interview, SD says the algos are throwing off the signals he used to glean information from about trends. Are you guys finding it incrementally more difficult ...
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Bonus - 2019Hi folks, I work as a private banker and end of year bonus payouts (for my clients & would-be clients - who are mostly hedge fund & PE folks) is a bonanza period for me. Whoever can chip in with names of HF/PE firms and months they payout their bonuses will be appreciated. While JPM isn't one o...
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Funds that invest in illiquid opportunitiesHi guys: What are some funds that invest in illiquid opportunities, but are not traditional PE shops please? When they hire, what kind of people do they usually look for? Thanks...
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Buyside Equity Research - Exit Opps to Hedge Fund?Was fortunate to receive a summer analyst offer from an Elite Boutique's Buyside Equity Research team. What are the **chances** of breaking into a top Hedge Fund? If not, what are my options? Thanks a lot!...
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What happened to the ROAR program by JPM?Anyone in the company or with info on that project? I've seen that JPM is searching for Engineers to fill up their ranks for an 'Alternative data platform" (links : https://news.efinancialcareers.com/ch-en/318504/roar-j-p-morgan , https://fintech.stanford.edu/peter-cotton ) But the website is dead...
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Macro Hedge Funds - Career AdviceHi all, I work at one of the better proprietary trading firms doing global macro research. Mostly event driven / special situations. I've been there for a little over 6 years and am realizing that my lack of experience in equities severely limits my opportunities. My goal is to work at a macro /...
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phone interview. Negative sign?Had a phone interview with a member of team and it was a very quick conversation that lasted 15 minutes about my background. He sounded very neutral, so it's very hard to tell if he's interested or not. At the end, he told me that the interview process is still ongoing and didn't mention when I will...
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'The Alchemy of Finance'Hello there, I've just acquired an another interesting book written by Mr. Soros, 'The Alchemy of Finance'. If any of you have read it (I assume some must have), what did you like about it, is it still relevant and, very importantly, what do you think about the theory of reflexivity in financial mar...
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Buy side suggestionsWhat kind o tips would you give someone who wants to work in the buy side? For instance in terms of internship/academia . In my particular case, doing a Msc Finance is absolutely necessary (poor undergrad brand). Which kind of master do you suggest to work there (I know, it includes a broad variety...
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Are funds even hiring right now given this environment?Given that numerous funds have shut down this year (Ascend Capital, etc.), and given the horrible performance this year, are there any funds that are hiring for the Analyst position (2+ years after IB, for ex.)? Seems like the industry is struggling, and I imagine there aren't as many spots availabl...
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Citadel Investment Group - Review - TradingReally smart people, and the perks are amazing- competitive pay, free food, and signing bonus. Amazing location.. Long work hours, and I hear that lay-offs happen after 1-2 years of becoming full-time. Little job security because of that....
Apollo Global Management - Review - Distressed Debt and/or High Yield* Good Hours * Healthy culture * Great perks (all meals paid for) * Great experience in learning how to invest . * Good amount of processing work although not necessarily more than any other first year analyst position * Very small analyst class and not much of a camaraderie within...
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Leveraging Connections into HF summer InternshipI'm a sophomore in college (you could say "semi-target" for what it's worth). For one of my classes I'm researching the economic benefits of hedge funds. I emailed a handful of school alums in smaller HF's asking for insight on the topic: personal anecdotes, more resources, etc. After having some ba...
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AQR Capital Management - Review - Quantitative ResearchVery good health plan, great compensation, very smart people, 10usd lunch, casual dress code, very good and collaborative work environnement . Greenwhich location can be a problem for people living in nyc as it is 1.5hours to commute everyday. Except from that I see no cons ...
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Sears ShitshowAnyone else following this? Pretty interesting. How do you guys think it will play out from here? https://business.financialpost.com/news/retail-marketing/eddie-lamperts-next-play-inside-the-hedge-fund-war-at-sears...
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AMA: I worked as a CTO at prop-shop doing high frequency trading (HFT)Hello everybody! I've been very lucky to end up doing what I'm doing My expertise is building low latency trading systems for HFT strategies. I led the software development to do high-frequency trading, executing several different strategies. Nowadays, I started my own consulting firm and working on...
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TPG Capital - Review - Hedge FundIntelligent and hard working team with a core focus on important items vs. fact time. The team exhibited more humility than many other organizations within finance. . Slightly rigid with relative pay and promotions. There seem to be too many layers at the organization that can impede decision making...
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Interview with the department head, how should I prepare?I was referred by my friend for a summer intern at a hedge fund. She is in the same department and after she sent my resume to HR, HR emailed me to do a phone screen with the department head. I’m very nervous because I initially expected to have phone screen with HR but turned out to be the depart...
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Advice for Green L/S Analyst with M&A BackgroundI recently joined a smaller (...
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Biotech Investing Pipeline ValuationI am new to biotech investing. How does one normally value the pipeline of drugs for a company? The company's investor presentation gives you the drug candidates in the pipeline, but how do you know which of their candidates are more valuable? How do you begin to figure this out?...
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Reaching Out to Recruiters/HeadhuntersI understand that it is still quite early to be considering this, but I was curious about the process of reaching out to headhunters early on. I'm a first year analyst at a BB in ER, and was wondering if it would be a good idea to reach out to/network with some recruiters just to touch base and get ...
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How to Switch from Prop to HFI'm thinking of trying to move from a prop shop to HF (or even something else with less ups and downs as far as pay), and would like to start a conversation about some ways to approach this. I'm not necessarily in a rush as this year has been solid, but...I'm always curious and would love anyone's ...
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Point72 - Interview - GeneralistDid you ever make a risky decision? Why? How did you handle it? Give an example of an occasion when you used logic to solve a problem. Give an example of a goal you reached and tell me how you achieved it. Give an example of a goal you didn't meet and how you handled it. Tell me about a time when yo...
D.E. Shaw - Interview - GeneralistTell me what a martingale is and give a real life example, explain it to a three year old What is your favorite book? What is your favorite game? How to test if a coin is fair or not Teamwork experience and how do you solve a conflict? Classic Bates theorem question about type I error Experience bas...
IPS Strategic Capital - Interview - Quantitative ResearchExcel test was not expected as it was not mentioned. The company trades on options and derivatives. I have read about derivatives and options market a little bit, but I do not come from finance background. So, my knowledge is restricted to what I learnt in the last few days. But, Questions on gener...
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Point72 Canvas FRGIs anyone familiar with the canvas fundamental research group within point 72? Nature of the work, comp, hours compared to front office, etc? ...
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Goldman SSG Upcoming Interview.......................................................................................................
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BlackRock - Interview - Fixed IncomeProcess: The process was pretty relaxed, began with Hirevue, then HR call, then two 30-min calls with full time employees, then superday (which consisted of two more 30-min interviews with FT employees and group interview). All of the interviews over the phone were behavioral. At the superday, I...
Och-Ziff Capital Management Group - Review - GeneralistIt was a great internship program which I landed off cycle but through my school’s career center. I really enjoyed the work quality, and the people. It was a very high pressure environment and the instructions were not always the clearest. Sink or swim ...
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An attorney in the DC AreaHello, just a quick question. Can anybody recommend a descent corporate attorney in the DC Area with the knowledge of Delaware and Virginia laws? It seems that it is time to let our attorney take a walk. Thank you. ...
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Breaking into the buyside from a non-target - You can do itI wanted to share my experience receiving a full-time buyside research offer from a firm with 30 - 40bn AUM to both help and encourage students seeking to get into buy/sell-side equity research out of undergrad. I am the first student from my school to be hired into the firm from undergrad. I go to ...
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Top Hedge Funds in the Energy SphereI am a executive at a major energy corporation considering making a transition into the energy hedge fund space. I understand that due to the nature of the industry, hedge funds operating/specializing in the traditional energy (oil and gas) sector prefer hiring experienced professionals from the ene...
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Value Investing Club – Membership Offering**Are you an active value-oriented investor looking to join a group of like-minded individuals building an investment track record? This may be the right place for you.** We are a small group of young investment professionals that consider launching a value investing fund in the short to medium ter...
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Hedge Fund Manager Posts Apology VideoNot in the industry, but curious to see what all your thoughts are on this: https://www.bloomberg.com/news/articles/2018-11-19/hedge-fund-s-accounts-liquidated-amid-energy-market-volatility Never heard of this guy, but obviously had a decent amount of money as some structures were 1M or 10M minim...
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Moving from CEE HF to LondonHi guys. First, a little bit about my background: I'm a year two analyst at a long/short equity hedge fund (~$200-300m AUM) based in CEE (think Czech Rep./Poland/Hungary). We invest globally, though mostly in the US and regional (CEE) stocks. I got my position straight from the University, a top o...
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Does anyone work as a CMBS credit analyst at a hedge fund or work at a real estate debt fund?Hi, If anyone works as a CMBS credit analyst at a hedge fund or work at a real estate debt fund, could you please PM me? For example, if you work at LNR, Axonic, Taconic, Blackstone, etc. Thanks much....
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How do you break into a hedge fund?Can you break into a hedge fund straight out of college? Is doing investment banking the best way to get into hedge funds?...
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Getting a Hedge Fund job as a Political Science Professor?Hello all, I was hoping to get some advice on the types of jobs/funds that might be a natural transition from my current job as a political science lecturer. Just to give a little quick context, I'm in my mid-twenties, was an adjunct professor for 3 years, and am now a full-time lecturer, but on th...
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AMA: Crypto Hedge Fund TraderHello, I currently work as a trader at a crypto focused hedge fund. Our primary function is that of a market neutral liquidity provider and we work with our clients to transact in concentrated positions of illiquid, thinly traded coins. Prior to this role, I was a trader at Goldman in NYC, focuse...
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Administrative Assistant bonusI'm new to the executive role at a hedge fund and would like to get an idea on how much to give an admin as a bonus. Any ideas?...
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Investment personalityWhen a hedge fund is assessing you investment personality or asks you what type of investor are you, what do they actually want to hear or know? ...
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Political risk jobsHi, does anyone know if Hedge funds have political/country risk desks? If not are there any political risk consulting firms that deal extensively with hedge funds?...
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Squarepoint Capital - Interview - Quantitative Research- Expected value of two successive heads or tails, for a balanced coin ? ie expected value of the number of coin tosses required to obtain two consecutives heads (or tails) for the first time : conditionate on the first two coin flips in order to obtain a linear equation on the expected waiting ti...
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Skills for hedge fundsHi all, I am considering an MBA after a 3-4 year stint at a consulting firm (Top Tier, my work has been focused on focused on private equity and restructuring). I would want to use the MBA to pivot into the investing space preferably a Hedge fund, however I realize this is a very difficult pivot. I...
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