Silver BananaTopicReplies
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Should Hedge Funds be Regulated?As the title says, should there be stricter regulation of HF's? So many times HF's get a lot of scrutiny for "Exacerbating" the bears that happen in financial markets because of their huge leverage positions and ability to short markets to gain from other people's losses. My take on it is that altho...
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10 Days Since Bridgewater Final Round: Have Not Heard Had a trading superday at Bridgewater on July 20. I had 4 interviews onsite but am still waiting to hear back — if it’s been 10 days did I not get the job? This is for a lateral move. ...
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Point72 - Interview - Investments1. What would your toughest professor say about you--really unprepared for this. 2. Questions about your background, high school, and college. The interviewer asked about how you chose each step and how each stage contributes to making you who you are 3. What initially attracted you to finance--not...
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Real Estate Hedge Funds (RE Stocks Only)I know a bunch of hedge funds that invest in real estate, but does anyone know of hedge funds that primarily invest in publicly traded REITs and RE related companies? LDR Capital Management is the only I found that is somewhat close to what I'm looking for. I'm going to use a pretty broad definitio...
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Point 72 Asset Management - Interview - Investment ResearchAsked about basic behaviorals about why Point 72, why investing, talked about successful experience in trading. Also the interviewer was interested in learning about my performance at school, asked about hardest classes/professors and personal interests. The most unexpected question I got was tell m...
Worldquant - Review - Equity Capital MarketsThe Work is really comfortable. Can Submit the Alphas anytime from home. No need to attend office. The amount of work is relatively low.. I am really disappointed with the payout structure. The Feedback team is also really bad. They don't respond to the problems Quickly....
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Where would you rather work: D.E. Shaw or Point72 for Junior Summer?Between the Point 72 Academy Internship Program and D. E. Shaw's fundamental analysis teams where would you rather spend your junior year summer with the intent of working at a HF after graduation....
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Most Memorable Earnings CallWhat is the most memorable earnings call you have come across? I remember one from Enron where the CEO insulted an analyst in response to a question about its cash flows. JPM has some good ones as well given the temperament of Jamie Dimon. ...
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Bridgewater - Interview - Investment ResearchThere wasn't a specific question that was most difficult, just the way that the interviewer questioned us individually in the group discussion During the group interview, we discussed different philosophical questions like organ donation or drone strikes and we were challenged to argue against or fo...
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How to deal with few positions getting in the portfolio?I work at a large (e.g., $1-10bn AUM) l/s hedge fund as an analyst. We have a concentrated portfolio, so it is fairly difficult to get positions in the book. That said, I feel like I have had far more difficulty getting positions in the portfolio than others have. A lot of my ideas have done very we...
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Hedge Funds for New gradsWhat is the definitive ranking of quant hedge funds right now for junior analysts? Where are the best places to work ...
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Point72 HireVue InterviewHi Monkeys! I have a Hirevue interview coming up with Point72 Asset Management. It is for a financial analyst position. Any recommendations on how best to prepare and what types of questions (behavioral vs. technical) I should expect?...
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Best entry career path to Hedge FundsI am currently an undergrad at a semi-target uni and have an industrial placement year coming up. My long term goal is to move into PM side of Hedge Funds, appreciating you have to pay your dues elsewhere first. What I want to know, is whereabouts is the best place for me to go to pay my dues? Cons...
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Point 72 Asset Management - Interview - Asset ManagementThere were multiple questions asked about weaknesses and what past bosses and coworkers would say my weaknesses were. Be prepared for really in-depth behavioral questions and follow-up questions on the most minute details. I was asked a lot about my life before college and if and what adversity I ha...
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MIT vs. Princeton vs. Yale undergrad for quant hedge fundHi all, I am a current high school senior choosing between attending MIT, Princeton, or Yale for my undergrad. My current goal throughout and post undergrad is to secure a summer internship at one of the big NYC quant hedge funds (Jane Street, D.E. Shaw, Two Sigma) and hopefully transition into a f...
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London hedge fund headhuntersCan anyone recommend HF headhunters in London? Ie guys who are working on real mandates and have good relationships. thanks...
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Can fund managers invest in their own funds?Hi, I am a rising junior at a liberal arts college (think top 20). I am interested in investing and am considering working for an investment fund (among other finance related paths) hopefully as a portfolio manager someday. My question is as a fund manager, can I personally invest in the stocks/eq...
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Transition from Prop Shop to Hedge Fund?It is my goal to work at a HF and I have a background interning in AM for a well-known Boston firm. Next summer I have the choice between interning at the same firm (doing something that doesn’t interest me) and interning at a Prop Shop. Which would be a better path to a HF? I have a strong resume...
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Baupost strategy and similar fundsBaupost has been known to make investments all across the capital structure and seems to have a very opportunistic strategy. How would you characterize their investment strategy? Simply as a value fund? Also, what are some funds that run similar strategies?...
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Bank of America - Interview - Generalisthow did you show integrity in the past. In each box, please start by listing a question you received, followed by your response (optional). Please try to phrase as a question and/or be as detailed as possible about the technical problem, business case, etc. If you need additional boxes...
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How to identify strong management team?Hi guys, Has anyone come across any good philosophy/ insights on how to identify strong management teams when making investment decisions? Would love to learn your thinking and recommendations on books/thought processes. thanks!...
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How to get a top Quant Researcher/Trader Job?Hi everyone, I was wondering how hard it would be to get a top quant job at firms like DE Shaw, Two Sigma, AQR, Citadel, etc. I currently go to a semi target (rising sophomore) as a math and CS major (possibly removing one and inserting physics). I've also been looking at tech, which I'm also inter...
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Do hedge funds hire entry level analysts? If yes, could you please provide any you are aware of?Hi everyone. This year I will be completing my bachelor and master degrees in Mechanical Engineering and Financial Engineering, respectively. To be honest with you, I think I am more interested in business analyst positions rather than quant ones. I wanna learn more about industries rather than focu...
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Hedge Fund: The World's First Global Democracy THE WORLD'S FIRST GLOBAL DEMOCRACY With the advent of the Internet and the World Wide Web the seven billion plus people of the world are increasingly doing business with each other from all parts of the globe. This New Global Eco...
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Point72 - Interview - Hedge FundThey really do try to get into your head; not necessarily in a bad way, but I think they genuinely want to know who you are as a person and a candidate. I'm going against the grain here but I'm going to advocate that you sort of don't prep; they are going to push past that prep in their questioning,...
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Is Long/Short Equity Hedge Fund Dead??I keep hearing that long/short equity hedge funds have been struggling to generate alphas. Is it true? What do you guys think about the field in general? Where can I learn about them more?...
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Will someone review my stock pitchHi, I have made a short 2 page pitch that I would like someone with experience in the industry to review. I’m planning to reach out to people at funds to network and was planning to include a pitch. I edited a pitch upon suggestions by someone but I’m looking for more people to review it and let...
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AQR Capital Management - Review - Equity Capital MarketsHappy about the pay and benefits. Colleagues are good and smart, and stress level is not too high. In general a nice convex combination of benefits . Nothing specifically. Some people believe that the bonus is lower than other hedge funds but the stress is also lower ...
Bridgewater - Interview - TradingThe classic train barrelling down the tracks coming up to a split. If you do nothing it will kill 10 people who are stuck on the tracks, if you divert the train it will kill 1 person. Do you throw the switch, why or why not. Second difficult question had to do with reproducing the S&P500 index w...
Point 72 Asset Management - Interview - Investment ResearchQuestions including why I was interested in finance/buy side and asset management was given to me. I think it was hard because i thought it would be quite broad and i didnt expect her to dig into the details of all the jobs i was interested in. In addition she asked me at some point whether i was re...
Point72 - Interview - GeneralistWe really spoke about my investing philosophy, growth vs. value, and the direction of where i thought the markets were heading. I pitched a couple of stocks and then we went into more depth about those that I pitched. They really wanted to see if i knew what i was talking about and if i had done m...
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Moon Capital - pay/reputation/culture?Does anyone know what it's like working at Moon Capital? From searching online, it seems like the pay is pretty dismal (60-70k). Wondering if anyone can comment on the pay, culture, and general reputation of the fund from the perspective of a junior analyst. Thank you in advance....
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Citadel Investment Group - Review - Equity HedgeInteresting work, really smart people, everyone's on their A-game. There's tons of resources to work with and everyone is looking to help the businesses succeed. . Tough work culture, success comes to those that are aggressive career managers, growth isn't given but taken by force so you need to man...
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How to actually break into the field?So I have literally no experience in the financial industry.. There got that out of the way. However, I do have plenty of experience handling financial information, albeit not equity related, at least in a professional sense. My undergrad degree is not related to finance, but I am going to graduat...
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Firm I'm interviewing with asks for a Credit AnalysisSo I'm interviewing for this very small L/S equity & fixed income-focused hedge fund ($300M AUM) doing Portfolio Research. The firm's focus is on fundamentals, whereas I come from more of a quanty/stats background and also just graduated last month so not much experience in this field. Anyways, for...
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Do all equity l/s teams work an insane amount?I'm at one of the multi-manager equity l/s platforms (think Point72, Surveyor, etc.) as an associate/junior analyst, getting recruited to another one for a more senior analyst role. From what I see around me, basically every l/s equity team (including PMs) works a ton, call it 6-7 days a week on av...
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Distressed HF - RE group, questionsHey all, Have come across a role as an analyst/associate with the RE group of a very large Distressed HF. Fund has a broad mandate for public and private markets, mainly various debt and structured instruments, but potential for PE type lending as well. Was wondering if anyone could shed any light ...
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Interview Advice for a Quantitative RoleHI all, not sure if this is the right place for this as its my first post in WSO. Anyway, I have an interview on Wednesday with a large NYC firm that is focused in the life and retirement markets. The reason I am posting here however, is that I have an interview Wednesday with their Investment gro...
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What do you think about the CAIA?I'm seeing more and more people take the CAIA...
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3rd year HF Analyst pay in HKI've joined a L/S HF right after my collage and currently in 3rd year with the firm. Wondering what would be the base salary like for other funds with similar background as mine? just feels like i'm underpaid at my current firm....
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Boutique Fund Trader's Assistant to operations at Point72 or risk management at millennium managementHi everybody, just wondering if i can get some career advice or just helpful comments on the topic here. Currently I'm around 1 year into the current trading assistant role at a small fund. Looking to slowly grow into a trading role from just doing basic executions within the next 2 years then hopef...
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Open HF Summer Analyst 2019 AppsWhat are some HF with OPEN SA internships for 2019 in the NYC / Chicago area? Other than AQR etc. it seems that a lot of the apps are closed?...
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Switching to a Different Hedge Fund: The Interview ProcessHi all, For all the experienced hedge fund analysts out there, what was your experience like regarding moving from one hedge fund to another in terms of the interview process? Haven't seen much content on WSO regarding the topic. As some background I did 1 year in ibanking and have 2 years of HF ...
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Help for Private / Structured Credit InterviewHi guys, have an upcoming interview with a MM private / structured credit fund that originates and invests in a wide range of credit securities - senior secured, asset-backed, mezz/pref, NPL pools, "specialty loans," etc. A member of the team informed me that i would be asked to "evaluate & price a ...
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Quant Funds in the Bay AreaHey All, Does anyone know of any quant funds (Big/small ) in the bay area? ...
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Switching Industries on the buy-sideHey guys, Love some opinion on this. I am mid-level (5-year into career) after 3-years of sell-side research on #1 II ranked team am now over on the buyside at a very top multi-strat relative value firm. Small team, huge risk limits, great returns and I contribute a ton. Been covering the same inds...
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Jane Street Capital - Interview - Quantitative ResearchWhat is the fair price of rock, papers, scissors with a twist. You get a superpower that prevents your opponent from playing rock, leaving them with playing scissors or paper. How much should you pay for this superpower if each game you win is +1 and a lose is -1. Little to no hints and you can go i...
HSBC - Review - N/AGood company, enjoying it here, I feel like this company has given me a lot to enjoy and look forward to in my life.. I don't think there is anything wrong. I would say the bureaucracy is a little too much at times but otherwise im fine with it....
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Hedge Fund Set Up Assistance My objective is to find firms/consulting services to help me set up a Hedge Fund. Two factors that I'm looking for include the services that's offer along with Fees. Can I have tips and advice on how I should go about this along with where I can source for these companies?...
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What to do after hedge fund blowout?Hi all. I am an experienced analyst 7 years out of school (2 in IBD, 5 in HFs) trying to figure out next steps for my career since I was recently laid off. This is the third time I have been on a team that's blown out (all at large platform multi managers) and I'm finding that the HF hiring market r...
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Fundsmith and Lindsell TrainAnyone know more about them? They are mutual funds, but have a decent track record. Keen to hear how they compare to the good L/S guys in London in terms of comp, culture, PM upside etc....
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How easy is it to move between proprietary trading firms?Recently, I was offered a graduate job as a quantitative researcher at a small but very successful proprietary trading firm (it has about 100 employees but posted a revenue of 250 million this financial year). After a few years, how hard would it be to move from a grad job at a smaller prop trader ...
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Musings of the Recently UnemployedLongtime WSO user who has recently discovered a significant amount of excess free time after my fund effectively closed. Have been playing around with a bit of writing to fill the time and thought I would create a dummy account to elicit feedback from the forumn. Would love any and all feedback (neg...
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Good Risk/Merger Arbitrage Books?I know there are some recommended books out there like Risk Arbitrage (Wiley Investment Classics) by Guy Wyser-Pratte. But that book seems to be very outdated (i.e. not a lot of shareholder rights back then during the time frame of Guy's examples). Any more relevant ones available?...
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Best degree for a prospective Quant?Computer Science, Engineering, Mathematics, Statistical Science or Finance? Which one is preferred by recruiters and why?...
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hedge fund recruiting timelinedoes anybody know the typical timeline for hedge fund internship recruiting? like how for ib it started in may will probably go on until september or so...
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Balyasny Asset Management - Review - Quantitative ResearchInteresting work, smart people, there's a lot to learn and the firm culture is great. Everyone is very friendly and approachable.. The work hours are sometimes long, and there is a certain level of corporate slowdown when it comes to getting things approved....
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Supra Institutional Shares definition? Whats the exact definition for this share class? Haven't found a clear, or any, definition as of yet from a simple google and SEC search. ...
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Which firms are considered the breeding grounds of future hedge fund managers?There is a notion in the industry: GE, McKinsey, Unilever are tipped to be the companies which produce future CEOs. Is there an equivalent for a investment firm? I know that Julian Robertson's tiger fund resulted in a number of funds which are now collectively known as tiger cubs. Today are there...
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Starting a fund outside the U.S.?I'm currently in the position to join a 50/50 partner in starting an systematic futures trading fund, similar to a CTA. A little Background: I'm currently a VC/Growth Equity analyst and I really enjoy the position. Investing in new technology, industry research, modelling, etc. It's been a great e...
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Citadel Assessement testHello everyone, I'm just wondering if anyone has any relevant information about Citadel Assessement test - quantitative researcher intern ? thank you...
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Where do you get your ideas from.any good recommendations for idea sourcing please? What sources have you found to be the most helpful?...
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Optiver - Interview - TradingPrefer team work or individual work What did you learn from other's feedback. Prefer team work or individual work What did you learn from other's feedback. Prefer team work or individual work What did you learn from other's feedback. Prefer team work or individual work What did you learn from...
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Hedge Fund Opportunities in Hong KongI am currently at a top bulge bracket (GS/JPM/MS) based in NYC and looking to move to Hong Kong to the buyside. Wanted to ask what is the best way to recruit and if native level Chinese is required given my mandarin is elementary having grown up in the US, ...
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Farallon Capital: healthcare and overall workWhat is your experience working at Farallon Capital, specifically with the healthcare team? I would like to know more from WSO community on your thoughts on working at Farallon and anything that you have heard from friends/ family that currently work there with respect to: (i) culture (ii) life st...
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Citadel's Physical Natural Gas PresenceStraight from their website: "In addition to trading the US natural gas derivatives markets, the US gas team acquired a portfolio of natural gas pipeline transportation capacity in 2016 which has enabled the team to grow its physical footprint. On an opportunistic basis we would be interested in sp...
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Global River Associates - scam or new firmA firm recently came on my radar claiming to have $600m in aum and is pursuing a variety of equity and other trading strategies. The earliest info I can find is that the website was created in November of 2017. No other identifying information on linkedin, website, anything. Im quite skeptical this...
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List of sell-side research firmsHey all, Looking for a list of sell-side research shops in the northeast -- Wondering where I could find one/look for one. Also wondering where most of these shops would be located ? Any help would be appreciated, thanks!...
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ABS FundsI have a potential interest in ABS products, specifically esoterics. Are there any hedge funds that specialize in this field? (I know of CQS but there have to be others)...
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Why do you think public equity is more interesting than private equity?Hi Guys, I would like to pick your brain on this one Why do you think public equity is more interesting than private equity? Thank you !...
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AMA: Research Analyst at $1 Billion Hedge FundHey everyone, I’ve been a long time user of this site, which was instrumental in getting me to where I am today. If it weren’t for the help of everyone on here I certainly would not be in the position I am in today. I’ve been meaning to do this for a while but I would finally like to give bac...
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I'm a London-based Distressed Debt Analyst - AMA I did 1 year at one of the top restructuring shops (BX, HL, Moelis etc) and then moved on to a credit fund. I've been here for 1.5 years and love every minute of it. We've historically focused on the distressed/special sits (control and non-control) space but given the drought of opportunities (in o...
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Transition from Insurance AM to HF/Pure AMHey guys, just trying to gauge how receptive HFs/pure AMs are to people with IM experience, but for an insurance company. I'm currently working in structured credit research/trading for a firm with about $17bn AUM, and eventually would like to switch over. Love working in AM but upside at insurance ...
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Trying to find salary ranges - how do I figure out which hedge funds are comparable?I'm interviewing at a hedge fund that hasn't been mentioned on this forum at all, and the open position has a crazy big salary range according to the internet. I'm trying to find a roughly equivalent firm on WSO or Glassdoor that has posted salaries so I know what to expect. What metrics would you u...
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How will you add value since day 1I applied to a hedge fund in nyc for an internship. Someone reached out to me and asked me how I would add value since day 1. How do I best go about answering this question? I was thinking of saying stuff like my modelling and valuation skills would maybe help with usual stuff but I haven’t been a...
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Case Study Prep HelpHi guys, I was wanting to know how to best prepare for fund manager case studies in interviews. I've got an interview at a large fund manager for a graduate role and I was informed there will be a case study but no specific details were provided. What kind of things should I prepare for and what ...
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Transitioning from MM PE to HFI am starting a MM PE job soon and currently work at an EB. The reason I originally took the PE job was because at the time (very early in my analyst stint) it seemed to be the right next step, a foray into investing while still maintaining the familiarity of running processes, managing teams and pe...
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Point72 - Interview - GeneralistQuestions for the first Hirevue: Is Amazon’s business model and the convenience it provides beneficial or harmful to society? Supposed to provide up to three supporting details Able to plan out your answer since you get the question before hand and have a few days to record your response Hav...
Citadel Investment Group - Interview - SoftwareThere was only one technical interview question asked from the very beginning. I was also asked about my resume, and was told to describe my favorite project and what my contributions were to it exactly. The technical question had to do with recursion and graph traversal. Question. There is a 8 by ...

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