Silver BananaTopic
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Alpha Hard Reload probably a conduct **Alpha Hard Reload** probably a conduct a few human beings name being 'hardhearted.' This comes from year's well worth of unresolved past hurts being piled up and in no way addressed or resolved. attempt no longer to take it individually if the complaint comes your manner. recollect the guideline t...
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Anchorage CapitalAnyone know anything about them / go through interviews in the past?...
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Company Interview: Two Sigma Investments - developer1) Design load balancer in a data center. 2) Wildcard matching '?' Matches any single character. '*' Matches any sequence of characters (including the empty sequence). The matching should cover the entire input string (not partial). The function prototype should be: bool isMatch(const char *s, c...
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AMA: Non-finance major --> BB IB --> Director at $5B+ Multi-strat HF (in 6 years)It's been a slow week and I'm not going away for Christmas so AMA time. Some background: Engineering major at an engineering-focused school in the Midwest during the crisis (graduated 2011) IBs only recruited for back and middle office positions Got a gig in capital markets at BB bank in NY (2 year...
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HF non-complete includes banks?Hi WallStreetOasis, I have a simple question. Need some advice from the veterans. On paper, my HF employment contract has a x-months non-compete during which I can't join a competitor; competitor is defined as a company that competes directly in business with the company. Suppose my current positi...
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Company Interview: Glenview Capital Management - AnalystValuation questions with a list of 10+ companies, each in different industries, and you're asked to list various metrics for each one. You'll recognize most of the companies but obviously getting the valuation metrics right is a lot tougher. Also, several brainteasers which were quite challenging....
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Hyde & Co. a collective hedge fundHi there -- We are a team of young scientists who founded a Hedge fund startup called Hyde & Co (hcoinvestments). Our trading system is an autonomous trading system that uses AI to find signals. We are raising capital for our first fund through an ICO(initial coin offering). If you have a question o...
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Differences between Special Situations FundsCould someone please the differences between different styles of special situations funds??? They seem to be both PE and HF special situations funds? Whats the difference in what they do? Also there seems to be long only equity spec sits, credit spec. sits, ...... Also whats the link to distressed...
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Beating a Dead Horse with a New StickSo I'm going to rehash everyone's favorite topic - the CFA. But this one's a little different: I already work for a hedge fund in a front office position. I recently started with a $3b fund straight out of school (non-target). We're mainly an event-driven shop, but we recently also began providing...
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Invited for a introductory meeting with a HF in college, how to prepare?A HF is visiting my school for the first time to deliver a presentation. I think they are considering taking some summer interns and I have been selected as one of the candidate. I have a 30 minutes intro meeting with their team. What should I expect and prepare? I don't know anything about HF inve...
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Received HF offer; want to leave current role early - advice?I'm currently at a BB in NYC but have an offer with an HF that starts in the summer. There's nothing in the offer letter / contract that says I have to stay in my current role until then (unlike for PE). For personal reasons, I want to resign early. How would you recommend bringing this up to the HF...
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Are Hedge Fund Employees Structurally F***edHappy 2018. Going to start it off a bit heavy here. I think in the last ~5 years things have been getting worse for your typical fund analyst/PM, and I think the trend is only accelerating. When I say getting worse I mean the growth path and (especially) the compensation for your moderately talente...
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Need Help On Best Way To Prepare For A Global Macro Fund (Macro P.M. input wanted)I am a student who is really interested in global macro and whose dream job would be to be at a global macro hedge fund in an investment analyst role and where I could have the potential to act in an idea generation capacity. I have looked online and found some stuff, but all the stuff I found was e...
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Swiss National Bank Issues Gold Coin for AnniversaryHi all, I would like to share an anecdote about SNB that a professor from University of Zurich and former SNB employee told in a lecture some years ago. Switzerland would celebrate a big anniversary (cannot recall how many years of existence) and SNB thought about issuing a gold coin worth 500 fran...
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How Do You Develop Your Macro ViewJust as the title says...would very much like to do a better job of this and would love to hear from those of you that have to do this for your work every day. What books do you recommend reading, and what news do you specifically try to seek out? In addition, what are the thought processes that y...
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Pay for Sales / IR Teams in Hedge FundsCurrently working at a $5bn Systematic Multi-Strat Fund in London in the Sales / IR Team. I am happy with my pay at the moment but I have no viability of what my seniors earn. What should I be expecting (Total Comp) after 3-4 years of experience? Thanks ...
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Starting a small hedge fundNew user, co-founder of a 2-person small Asset Management firm utilizing a trading algorithm for long-short equity. Looking for advice on networking, fundraising, partnerships, etc. Newly relocated to NYC....
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How common are 100 hour weeks in HF?Are hours? 1. Long like banking (100+)? 2. Track the market (so like 8 to 6 maybe?) 3. Depends more on your team ,so what about other things like how predictable are your hours and do you get called in on the weekend? how much "reading from home" is actually expected? And does any of the above incl...
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best college major for non traditional student willing to do an mba in futureI am 27 yrs old and dropped out of college after sophomore year due to financial trouble, since I have been working and now I am Financially secure now. I am making 6 figures proprietary day trading. I am restarting my career, I have returned to my state school Oklahoma, which would be a suitable ma...
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Any Canadians here on TN?Fellow Canadians - has anyone had a lot of trouble going through the TN visa process recently? Considering the recent wording changes to the TN Economist, you guys think it will dissuade a lot of banks/HFs/PEs from hiring due to greater attorney costs? Also has anyone been able to get a finance rol...
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On the Job With Simple As… My Research ProcessWhen I did my AMA thread a while back I promised at least one person that I would share my general research process. So here you go... Every analyst has his/her own way of conducting due diligence. There certainly is no one correct way to come to an investment decision, however, I’d argue that t...
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Company Interview: QVT Financial LP - QuantSeveral questions related to classes I took. One of the interviewers had my transcript and would seem to just go through and look for classes with names that sounded like topics he could ask about. It was hard since some of the questions were obscure and it had been a year or two since I'd taken som...
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Company Review: Bridgewater - 4very transparent. this company operates as a meritocracy and the ability to get into upper level positions is based on quality of work.. Transparency of ideas is a highly important aspect of the firm and gives younger employees the ability to achieve....
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Hedge fund analyst compensation (experienced)What is the expected all-in compensation (Base+Bonus) for a Hedge Fund Analyst with 2 years of banking + 2 years of private equity experience? I checked the WSO Hedge Fund Report and believe those data points are for analysts coming straight out of banking....
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Company Interview: Citadel Investment Group - Trader internVery unexpected: calculate 119^2 no pen and no paper, in 1 minutes. I got wrong 2 times, just because of missing zeroes.. Most difficult: you and I are playing games. At each time you /I say a number between 1 and 10. The final number is additive. I.e. You say 3, I say 8, then actually it becomes 1...
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Should I accept this offer? (First year uni)Hi, I received a part-time/internship job offer from a one-man crypto hedge fund, is it worth taking for a first-year university student (I live in Canada)? ...
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Minimum Size of a Good Hedge FundAt the risk of this question sounding ignorant, what is the minimum size of a good hedge fund? I understand that yes, a $100M dollar hedge fund can post returns of 27% while a $10B fund can post returns of 5%, but what I'm trying to get at is what is the minimum scale of AUM that a decently establis...
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Company Interview: Eisler Capital - QuantThey asked about basic computer science data structures. For example, hash tables, stacks and queues. In particular they asked when to use them and asked what the key functionality of each data type is. Then they asked to write pseudocode to describe the DSs and asked for error checking. Overall it ...
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Transgender at a Hedge FundI currently work at a medium sized fund. My resume looks like what you'd expect, highly selective undergrad, good work experience, MBA from a top 3 program, passed the CFA the first time through, and have done well for the year and a half I've been at my current fund since graduating business schoo...
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Top 20 Short focused Hedge Fund?I was doing some researches about Hedge Fund as an intern and was asked to provide a list of Top 20 short focused Hedge Fund. However, I can hardly find any short basis Hedge fund by searching online. Anyone has an idea about which Hedge funds focus on short? Or any website I can find this informati...
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Conference (Earnings) Call - Legal Requirement?Does anyone know whether it's a legal requirement for companies to do earnings calls? If so/not, which exchanges does this apply to?...
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Modelling involved in L/S Equity Hedge FundLooking at a job which states (in abbreviated form): Global Equity Analyst – Hedge fund – London: .... Your Responsibilities will include: - Modelling of Global equities through in-depth fundamental analysis .... Excellent modelling capabilities (you will be thoroughly tested at case study). ...
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Percentage of HFs Secretly Investing in Cryptos?It's no secret that the HF industry has been under a lot of pressure lately. The industry bled more than $100 billion in 2016 as fund flows moved into ETFs an other passive investment vehicles. It's also no secret that net returns have lagged behind the general market, though HF risk characteristic...
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1L law student looking for advice for preparing HF interviewHello everyone: I am a 1L law student who just realized lawyer career is not for me after 1st semester. I am interested in both finance and management consulting. I haven't decided to drop out from law school because my parents funded me through college to law school so I feel obligated to finish m...
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MSOR vs CFAHi everyone, Im looking for advice/suggestions on how to move my career forward. Im a recent grad (class of 17') and I am in a role as a contingent worker in operations support at bridgewater associates. This means I am not a BW employee, but I work on site using BW systems interacting with BW empl...
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Interviewing for summer offers; just got fired from search fund; how to approach this with companies?Hi, I've been interning at a search fund for the past couple of weeks and I just got fired/laid off, partly because I slightly messed up and partly because the guy is transitioning to an intern-less model. The problem here is that the firms I'm now interviewing with have my resume from before I was...
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What does it take to work at Citadel Securities?I'm going to be very corny but hear me out. Every time I watch CNBC and it's 9:30 AM I always notice the Citadel traders in their coats yelling and working with their 4 screen monitors. It looks exciting and I honestly would LOVE to be on the trading floor even if I was paid terribly. It would be ...
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Internships early on? Hey everyone , I'm currently a HS senior looking to find a HF internship the summer before college. By then I'll be 18 (can sign NDA and won't be a minor anymore). Some of my accomplishments — 1st place Stevens Institute of Technology Trading Day 2017 (competed against 20-30 other teams, had 90...
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Company Review: Chicago Trading Company - Very SatisfiedGreat training program to learn options and trading. Team trading environment. Collegial atmosphere. . Slow to innovate and trade other products. Missed the early boat on crypto trading. Can be too conservative....
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What makes a great Associate at a credit-focused sponsor?Starting up at a credit-focused fund shortly (mostly private investments; lending against assets of firms w/ great mgt teams). Curious what makes a great Associate at such a shop outside of the boilerplate "attention to detail", etc. Thanks....
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A Question Regarding Adjusted Present ValueI am self-learning the Mckinsey Valuation book. It teaches the Adjusted Present Value method for valuing companies. The APV definition is as follow: Adjusted Present Value = Enterprise Value as if the Company Was All-Equity Financed + Present Value of Tax Shields To use the above APV equation, I...
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Thoughts on a fund with a "disruptive innovation" theme?Not looking to start such a fund, just wondering what exactly is right/wrong with the idea in theory and in practice. Plenty of large cap tech stocks have gone up by healthy amounts that could justify a 2-20 (or maybe slightly less). Great way for a hedge or mutual fund to differentiate itself, esp...
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Opportunity to join a startup hedge fund w/ half a dozen PHDs while in undergrad, what should I do? Would greatly appreciate advice from any industry veterans, especially traders/PMs. A couple weeks ago I met with a PHD researcher at a top target school who also works at a hedge fund as a researcher for a particular sector. He and several of his colleagues (who all research different aspects of ...
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Started a Crypto Fund - Looking to Connect with Fund Managers, etc.Hello everyone, long time reader - first time poster. I'm the founder of a crytpo "hedge fund" with a 3 person team (we launched about 3 months ago). Looking for advice on networking, fundraising, finance info, etc. Originally from Michigan but live in Los Angeles. My background is computer science...
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Prop trading plan (calling exp STIR traders): Could I REALLY have an edge with this or am I utterly deluded?Background: late 30s, decent economics degree, read up on banking/trading at uni, interned IB, never got hired, went into another field of gambling, did ok. Now semi-retired. The plan: sit on a beach. Trade short sterling interest rate futures. How with no background in biz? - got access to Bloomb...
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Marketing Materials for FundHello all: I recently sent in marketing materials for our Equity long/short strategy to a potential seeder. Prior to sending in the materials, I always used to get back a return receipt for the emails I sent out and the communication lag time for the return receipt was always returned about 6 hours ...
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Experienced HF CVHey, Have been with a HF for 2 years and have interviews coming up. Looking for guidance on the HF experience section. I am an Analyst, so cannot put down a specific track record yet. Thanks guys...
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DCM to Elite Hedge FundsCan anyone shed some light on getting into HFs from a non-M&A background (specifically capital markets)? I am considering pursuing DCM out of ugrad and was wondering if any exit options into HFs existed there. On another note, does anyone know if there is a differentiation between HF targets and IB...
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Starting a Business, then going into HFHi WSO, I am in a time of indecisiveness. I have an idea that I want to pursue, and I'm fairly certain it will work because its a practical solution to a problem, but investing and analyzing securities has been a passion of mine for a while. I have been studying markets and reading financial literat...
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Starting a hedge fund with very credible people in the industryI recently left a large hedge fund that is not doing well, but I have an offer coming at another large fund that will be in the $500K neighborhood (which is very frustrating after 12 years in the business, but I have had a hard time getting someone to give me a shot at trading mostly due to my cost ...
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Consultant breaking into Finance?Background: I have 2 years experience as a consultant specializing in data analytics at a second tier consulting firm. I got this job right out of college after graduating from a top 25 (just barely) school with a degree in Economics. Solid gpa, good professional network in dc. What is the best way...
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Company Review: Citadel Investment Group - overall positivecompensation, work life balance, intellectual challenge are key positives. benefits are also solid. . definitely a high pressure environment, high involuntary turnover, little visibility into some strategies...
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Cargometrics - quant shop in BostonReally interesting sounding tech-driven fund based out of Boston. Got some big funding from Maersk and Julian Robertson I believe, but other than what I can glean online, does anyone know anything about how they hire/how to apply apart from just the generic email on their not so helpful website? ...
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Citadel Global Equities (pay, culture, career path, lifestyle)I had a number of questions about Citadel's global equities team because I recently advanced pretty far in the process there. There is a surprising lack of information on the fund given its overall influence on the finance world more broadly. Feel free to comment on any of the questions below so we ...
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Company Interview: Oaktree Capital Management - AssociateIt was most difficult to prep for the final in-person interview because I'd never had to decide where to invest in the capital structure of a company. The reality is that it's a very solid interview process because it makes you think on the spot and provides insight into your mind as an investor. Le...
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AQR Quantitative Research OnsiteI was just wondering how long it would take for AQR to get to you about a recent onsite interview for the Quantitative Research Summer position. If anyone has any experience with AQR interviews, do comment. ...
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Color on Senator Investment Group?Any thoughts on the fund, strategy, culture, pay, etc.? Know they are a relatively small and secretive fund, but have a seemingly strong track record focusing long-short/event driven....
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Family Office - Executions Trader (Hedge Fund Strategies) Hi all, I am currently interviewing for a role in a small Family Office in London. The role is for an Executions Trader (and back office) position for a new hedge fund strategy. Currently, the FO is not in the hedge fund space but is looking to launch the hedge fund in the coming months, hence the...
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Thoughts on Millennium Management?Had a recruiter from these guys reach out to me. Any thoughts on the fund, culture, pay, etc.? Considering putting myself into the process but am pretty comfortable where I'm at currently. I've seen some negative information in past posts but was hoping to get some more updated information on Millen...
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Best way to HF?Hi everyone! Well, im studying Mechanical Engineering (2nd year), but i dont really like it. I consider doing a MS in Finance when i graduate. I have three questions: 1. Whats the best way to a HF? I have heard that i should pass from M&A, ER or S&T first. Is that true? Which is the best one for a ...
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Defining Passion for InvestingAs a prospective (hopeful) future public markets investor, I was hoping to get some perspectives on what defines a "passion" for investing. Is there something riveting about putting your smarts to the test against other investors? Being an independent thinker? Thoughts on competition more broadly? ...
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Initial (Stage 1) Company ResearchHaving been at a Hedge Fund for 3 months, I'm still a generalist, learning the ropes, and mostly enjoying going a mile wide and an inch deep into many different industries for now. By observing the analysts around me, I have recognized that, in general, there are two distinct stages to research: ...
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The Iceland bet - How some hedge funds made huge moneyHello guys, I'm an Economics graduate from the University of Iceland. I thought I'd share with you some information that I believe has never been made public before, at least not in English. It's a story about some brilliant investments that made a select few hedge funds A LOT of money. This post w...
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Company Review: D.E. Shaw - DE Shaw Summer InternPretty relaxed environment, good snacks, coworkers eager to help. Lots of time to read and learn. Intern project was interesting and utilized my coursework from school.. Not a lot of opportunity to make real impact, but that's expected as an intern. This was also the first year they had a formal int...
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Company Review: Marathon Asset Management - Smart peopleReally sharp and thoughtful people, anyone can pitch an idea, great brand name. Reasonable hours for entire office. Little structure, have to be very proactive. Good place to be if you do well, but seats rotate quickly if you do not. ...
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Sending Stock Pitch for internships - what model, if any, should I use?So I'll be sending some stock pitches to some HF's and AM's in search of an internship. From my research it looks like doing DCF's and other more 'academic' financial modeling isn't really used all that much in the real world. I could be completely wrong, but that is the sense I am getting on WSO an...
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Optiver trading internI just took optiver’s first test which was a 8 minute math test with 80 questions. Does anybody know if they still take off a point for skipping a question or getting answers wrong? The page before I started the test said that they do. However, the instructions in their email said they don’t hav...
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AQR early engagement programI applied to AQR’s early engagement program (someone from hr reached out after I emailed them about the program and told me to fill an application). Has anybody heard back from them? I’m assuming I’m rejected because the program is in mid jan and the deadline for apps was 10th dec or something...
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Bridger Capital - Secret Society: What do you know?So Martin Shkreli showed up on the radio show "The Breakfast Club" with Charlemagne Tha God. Interviewed pharma-bro and they brought up the secret society "Bridger Capital", the Illuminati of Hedge Funds. Shkreli was shocked that Charlemagne Tha God knew of this group and that he had been invited t...
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Activist funds recruitment?Hey guys! What's the best approach to reaching out to activist funds? Is it possible to land an activist fund gig right out of undergrad or do they usually strictly hire from 2+ years of experience in IB/PE? How is the approach to recruitment different for mega activist funds (think Elliott) vs. sma...
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Activist Investing Music Video! An activist investor from a NYC hedge fund recently released a hilarious music video on activist investing called "Stupid Callous Fragile Ego Exec with Halitosis." To watch it, type in "STUPID CALLOUS" on YouTube and click the first link. Enjoy!...
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Salary associate at hedge fund of fundsDoes anyone know what the range for a FoF associate would be in NYC? I recently started a new job at at FoF as an associate. My first year pay is 110k base and 15k bonus. I am older than most of the associates at the firm because I came in after a career change being in my previous tech career for a...
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Credit Hedge FundGuys - I'm at a BB in Lev Fin and recently have been called up for an interview at a credit hedge fund within a private equity fund: focused on distressed debt, special situations, long/short equity, etc. I've been involved in several PE interviews but never interviewed with a credit hedge fund. ...
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Experienced distressed debt analyst - resume questionsI've been working as an analyst at a distressed debt fund for a couple of years, and now I am updating my resume to keep it up to date. I don't know what the industry standard is for describing distressed investment experience on the resume, and I'd be grateful if anyone could post or pm me sample b...
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Moving from an expert network to a HFI've heard that people do sometimes move from an expert network (GLG, Third Bridge) to a buyside and sell side ER roles. I have an offer from a top expert network, and want to move to a fundamental equity HF in the mid-term. For those who made the switch or know someone who made this switch, can yo...
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WSO Hedge Fund Guide and added value for an Event driven recruitmentHello Everyone, I'm fairly new here! Living in France and doing my masters in Management at a top B-school in the country. I am currently in the recruitment process at an event driven hedge fund in Paris with their corporate (event) driven strategy team (excluding Merger arbitrage). The Hedge fund ...
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Energy TradingHello, I got an offer with a proprietary hedge fund focused on the North American power markets. This firm trades in only the short term, speculating on the difference between real-time and day-ahead prices (virtual trading). I won't be starting out as a trader but the position will lead to a tr...
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Book recommendationHey folks, I applied to one of the hedge funds in my country and I was told that in two weeks time I will have an Excel task, which will follow up with a series of interviews. Hegde fund mainly focuses in such areas as infrastructure, energy and commodities. Therefore, since it will be my first int...
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Company Review: Bank of America Merrill Lynch - Another thingGood hours but the thing is that there is anothere one and this thing is the same as the other one and there.. Low holiday pay but the thing is that there is another one and this thing is the same as the other one and there....
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Interview Prep GuideI figured searching through WSO for a review on the hedge fund interview guide would be quick but I'm having a hard time finding reviews on it. Obviously we are all pro-WSO, but can anyone that has bought either the WSO guide or any competing guide talk about your experience with it and if it's wort...
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Quant Role Interview at ~$10B AUM FundI may have the opportunity to interview for a quant role coming up somewhat soon. The position calls for knowledge of VBA specifically, but notes that programming languages like Python, Java, etc. would be ideal. I have academic research focused experience in VBA but nothing professional as my backg...
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Relative Value HF ReadingFigured I'd get some good answers from this forum. I have a final round interview this week with a relative value hedge fund (all asset classes) and I'd love to read a book tomorrow on the plane that would be thought provoking and give me some things to talk about in my interviews. Any ideas?...
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Cubist salary rangeHi, I am curious about the salary range for Cubist Systematic Strategy for post-graduate (Masters in Computer Science) with previous experience in a bank (1.5 years). I checked in online but the salary seems to be really wide (90k - 190k). Anyone has a better idea about it?...

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