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WSO Hall of Fame: Hedge Fund Forum

WallStreetOasis.com

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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Lateral to Quant PM - MBA, MS Data Science, or MS Finance?

VCWannabe

tl;dr - have somewhat relevant experience at elite PE but only with real assets, have weak understanding of finance outside of real estate, weak understanding of data science (but I used to be above the curve), graduated from a semi-/target undergrad with BSc Finance & Data Science - which graduate ...

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Michael Burry Water Prediction

babybaboon

It's been a few years since The Big Short was released and I'm sure most of you watched it. Some interested articles have come out as of late evincing the potential for a serious shortage of water [(link to one such article)](https://www.npr.org/sections/goatsandsoda/2019/06/25/734534821/no-drips-no...

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Hudson Bay Capital - Any info?

njambition

As the title says, does anyone have any information about this shop? Apparently, a pre-first round there consists of a 60-90 minute 'questionnaire' (read: test) in their office. ...

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How do I get a job at the Baupost Group ?

JohnGutfreund

Hello WSO, Read Margin of Safety, love Seth Klarman, love value investing, and I love Boston. Seems like a perfect fit. I just finished my sophmore year of college. How do I get a job at the Baupost group ? What is it like to work at the Baupost group ? How does compensation work at the Baupost g...

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Point72 2020 SA Program

aka2kewl4u

Has anyone heard back from Point72 2020 process for first round interviews? I just want to know the breakdown of the process and see if its a right fit for me ...

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Getting a job in Trade Finance fund

concrimi

Deleted, Deleted, Deleted,Deleted, Deleted, Deleted,Deleted, Deleted, Deleted,Deleted, Deleted, Deleted,...

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Questions About Liquidity Provider - Flow of Operations

leopardl7520

Hi, I got a question about the liquidity provider's operating model. Really hope if someone can take a look and share some thoughts! ###Scenario: - Say an ETF investor wants to offload a million ETF shares; the investor is seeking multiple market makers to offload the shares and compare the bid/...

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Can you Calculate Bollinger Bands for Hedge Fund Returns Based on Weekly Estimate Values?

FMB89

Hi, I'm looking for some help with regards to calculating Bollinger Bands for hedge fund returns. I know these are typically created using daily returns, however I would need to calculate them based on a weekly estimate value instead. Is this possible, or is the daily value a necessity? Also, they ...

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NYC Employment Lawyer

junior2012

Can anyone recommend an employment lawyer to review an offer letter (for NYC) at a reasonable cost? Thanks in advance....

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Breaking into London HF space: non-EU analyst, CFA

hedgecutter

Hi guys Hopefully, someone with similar experience or background can help out here. I'm working at a non-EU emerging market hedge fund, 4+ year experience as an equity analyst. CFA charterholder. Trying to crack the London hedge fund space (targeting fundamental, value, stock pickers). What is my ...

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AMA: 2nd Year Equities L/S HF Analyst in Hong Kong

marketbeater

About: WSO has provided tremendous help at the early stage of my career, even though I have always been studying and working in HK (and yes, WSO has good traction in Asia as well). Back then I always wonder it would be even better if someone can provide me more local insights about HK HF market. So ...

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Bridgewater Investment Engineer Internship

Macaco

Anyone has Interviewed for Bridgewater Investment Engineer position? What questions do they ask and what are they looking for?...

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Requesting Advice for My Stock Pitches

PJHFStocks

I am requesting for advice and improvements on my stock pitch below. (FYI: My background is in accounting. I am practicing pitches to help me transition into investment type roles. I am improving my financial modeling skills and hope to provide valuation analysis in the future.) Any help would be ...

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what investment firm should i start

hollandsworth.adam

I have access to crowd funding. Many investors with small capital would like to invest but dont know how to. I've looked into starting a hedge fund, but that would require a significant amount of capital. I only have access to raise a few tens of thousands. I'd like to take these small capital inves...

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Best way to setup an inter-index arbitrage fund

WSfund

Hi, I am looking to setup an inter-index arbitrage fund mainly on index futures. So I am looking for suggestions as to how to setup this up in terms on legal entities and jurisdictions like the Cayman and the US. Also I was looking for suggestions on what be the best like Master-Feeder or Exempt or ...

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How do global macro funds generate investment ideas?

yourdoveismydrug

I'm currently interning in S&T at a BB and I'm really curious about global macro. I'll try to network with some alums for further discussion, but I would appreciate any insight from this forum. I understand they use a top-down framework, but the explanations I've read seem really opaque. For instanc...

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Probability Theory vs Machine Learning for aspiring HF quant

ssriniv

I am a Master's student in Statistics at UC Berkeley and as an elective, I have the choice of taking either a graduate probability theory class (oof) or an undergraduate machine learning class (which is highly regarded in the data science world and gives lots of project experience over theory). I'm...

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Corporate Finance to Equity Analyst Feasibility?

Throwaway2018

Hi All, Throwaway account for anonymity. I'm curious about a transition that I've not seen discussed before, likely because it's a very rare one. I'm currently at a F100 company working in a quasi-corporate strategy/pure FP&A role. I'm lucky in that my particular position is very heavily operationa...

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Long only investment reports

AlphaKing22

I am wondering do people at long only funds actually right lengthy investment reports or do PMs require a one pager or even bullet points memos. ...

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How to gracefully exit?

HFunder769

Hi everyone, Hope you all had a great 4th. Had a quick question for you: I've been interviewing around and as it currently stands, I've been told by a fund that they are close to extending me an offer pending a background check, references, etc. With this being said, I don't anticipate their proces...

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Need Advice - Recruiting

LeveragedBlackouts

As stated above, need advice. Current non-target, rising junior. Signed an SA offer with one of the following (EVR/LAZ/MOE/PJT) for 2020. Got reached out to within the past week from a MM HF (D. E. Shaw/P72) from HR telling me to apply to their discretionary investing teams and stating that they wou...

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On-site interview - Five Rings Capital

Danny-Nguyen12

Hi all. I recently got invited by Five Rings NY for an on-site interview. The position is Quant Researcher. Has anyone here had any experience with them? My background is pure math. So far they have not asked me any finance related questions, but instead focused more on probability/stat. I just wa...

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Anyone short or negative on Lions Gate LGF-A? Love to get your thoughts

LMidMarket

Curious as to if anyone is bearish on Lions Gate, as the companies recent performance has been fairly poor and it doesn't appear that they're going to sell Starz any time soon unless the debt burden becomes to cumbersome and they have no choice but to flip it. I've done some preliminary work and th...

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Baupost Letters

bill_ackman

Does anybody have Baupost annual letters saved? Tried finding it online, but most of it is either partial or banned based on Baupost's request. Letters are a real treat so it would be very much appreciated. Thanks!...

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Preparing for quant research interviews

cramer-rao-blackwell

Does anybody have suggestions for what to study for/how to get quant interviews at hedge funds (and prop shops)? Starting 4th year at Imperial College London after summer. Relevant coursework beyond the basics: statistical inference, generalised linear model, stochastic processes, time series, compu...

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Deciding between Hedge fund or PE if an elite business school is my end goal

PidgeonX

I am currently a SA at a mega multi-manager HF (think Millenium/P72/Citadel). Still uncertain about my long-term career plan, but I have been thinking of working in management of a larger corporation or starting my own venture, not in the finance space specifically. I am from a non-target school an...

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XTX Forecasting Challenge

Bondholm

XTX Markets, one of the leading quant-driven market makers has just setup a new challenge: https://challenge.xtxmarkets.com/ Is anybody participating?...

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Model Portfolio Assistant Portfolio Manager, or Sell-Side Equity Research?

noproblems99

Need some advice, monkeys. Currently thinking about the prospect of two offers. One is an assistant portfolio manager position managing model portfolios that have roughly ~$30B in AUM. The other is a sell-side equity research position as an associate for an industry I don't find the most interesting...

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I need advice on networking with a sample pitch?

lakebeachadvisors

I'm currently a rising senior beginning to cold email and network for large AMs and a couple of HFs for full time. I don't know what to send out for my work sample. Option 1: I currently have a very well put together pitch(IMHO), that I used to get my current SA job at a midsize AM. The main pitch ...

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Old tiger cub investor letters

GibbonAwayNow

Interested in learning more about these funds. Anyone have old tiger cub investor letters from during or just post-recession? Trying to read more about Tiger Global, Viking Global, Light Street and Maverick in particular. ...

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non-business masters degree, impact on career

BobbybananamA

I am a 2+2 IBD->HF analyst (no B-school). If I took a year out of my career to pursue a random non-business masters degree, would that hurt my future career in public markets (other than opportunity cost of lost career progression)? For example, say I got a degree in something like math or public po...

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Best offer for Multi-Managers?

RandomWalkTheory

Hey everyone, So my long-term goal is a PM at a large MM (P72, Millennium, Surveyor Capital, BAM, etc.) for discretionary L/S. As of now, I have two FT offers, Private Debt at a large firm (20b+ in AUM) and a Prop Trading firm (will be given a $2m book to start and there is no capital contribution)...

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Hedge Funds requiring IB experience... why?

datakid97

Please, I just can't wrap my head around it. I'm sure there is some semi-rational reason why a hedge fund would hire an investment banker but I just don't see it. I would say that if you're in the business of attracting actual talent you might as well go as far away as possible from M&A guys. So y...

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Back Office to Buy-Side

IshijahDel

Hey Everyone, I am currently a 1st year analyst working within a back-office function at a larger, bulge-bracket firm and wanted to know if anyone has, from a comparable function, been able to successfully recruit, and receive an offer for, a buy-side function (PE/HF)? For context, having quite li...

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CPAs Merging to Finance

alexgarrett00

I know many people in both the finance and accounting world, but have not heard of many CPAs merging into the finance world. I am currently in the accounting field, specifically audit, and have been pulled towards the finance world in the recent months. I wanted to begin a discussion for people to b...

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Tiger Global / Tiger Cubs

MonkeyBeesWax

Hey guys, I'm trying to find a good book about any of the PMs from Tiger Global / Tiger Cubs. I just want to learn and read about their career/life path, culture at these firms, etc. Any good suggestions?...

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Got a job at small hedge fund but have no idea what's next.

rangersfan990

I've recently gone down a dark spiral of trying to figure out how my career can progress. I'm 7 months into my first full time role and it's at a HF. I thought it would be easy from here but now I realize I don't know where to go in the future or how to even find a new job at another fund. Currently...

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switching from front office quant to sell-side

GoldenPear

Hi everyone, I am looking for a advice. I have a PhD in math from a known university. Currently I have 7 years of experience in front office quant position in one of the major investment banks. I support manual Rates and Credit traders with pricing, risk, etc. My salary stayed in low 200s for the l...

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Remote Biotech Research Analyst

danialmir

Hi All, Looking for some advice. I am an M.D. in a highly technical and device driven field (Interventional Radiology), just starting fellowship at a well known/top academic university. Since medical school I have been investing and maintaining my own portfolio. I'm looking for a part-time/remote ...

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DE Shaw Fundamental Research Analyst Summer Intern

roadtohardo

Hi, I have a call for the D.E. Shaw Fundamental Research Intern position. I was wondering what I should expect. I know DE Shaw is known to be quantitative, but how technical can this interview be? I’m comfortable with finance topics, just not Highly technical/math concepts. Just wanted to know...

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[LONG POST ALERT] What should I do? I am kinda lost

market-enthusiast

Hi all prospective monkeys! Hope you are doing well! I am feeling lost in my career path and confuse of what should i do next. Any input will be appreciated! ###**BACKGROUND** I am from Hong Kong, just finished the first year of study in the top 3 local university (i don't think there's anything l...

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MSBA to Break Into Hedge Fund

imman400

I have just graduated undergrad at UT as an economics major and now I will be getting my M.S in Business Analytics with a focus on Financial Analytics this next year, also from UT. I was wondering, is this degree path decent to break into a quant hedge fund? I will be doing a lot of predictive model...

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Breaking into hedge funds from data science - Columbia '21 admit/ non U.S. citizen

FoxBud

Hi everyone, First time poster. I was recently admitted the two year full time MBA program at Columbia Business School, class of 2021. I'm hoping to land a job at a hedge fund post my MBA - keeping my mind open but tilting towards L/S. My primary experience is in analytics consulting, i.e., a mix ...

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Baupost out of Undergrad?

evidential

Heard rumors about some undergrad getting a full time offer at Baupost straight out of undergrad. Not ops/back-office but actually the investing side. Anyone have any more information? New program or just a one time special situation?...

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