Silver BananaTopic
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Question about Cornell Operations Research & Engineering?Hey monkeys, Considering applying to Cornell, was interested in a major in their undergrad engineering school called "Operations Research & Engineering". For ppl familiar with O/R or Cornell: Is this major practical/versatile? I'm thinking I'll go into either finance or tech, and this major seems ...
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Company Interview: Squarepoint Capital - quantitative researcherThe question is to do programming. The question set up is having 2 large files with some numbers, and find the common number in those 2 files. So I actually used some sorting to do it. Then goes to if the file is too large, what to do. What if you can not store them in one machine, or use some distr...
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Serious Trading Talk. Here to learn and Meet new People. Would like to keep this chat confined to Derivatives Trading. We can talk about futures, options, and all products. ...
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What background do most hedge fund managers have?What do you guys think the most common background is among most hedge fund managers? (i.e started as traders, analyst, quants etc.)...
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Value Investors wanted (in Paris)**Value Investing Club – membership offering** **You want to become a value investor and would like to join a group of like-minded individuals?** This may be the right place for you. We are 3 young professionals willing to enhance our investing skills in a group setting. We thought the best way...
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D.E. Shaw Internship or IBHi guys, I'm a junior from a target university with a solid resumé. I have a super this weekend with D.E. Shaw and then GS/MS/JP IB the following week. Also looking at a few other buy side shops and corporate roles. I'm not as interested in sell-side as all of my friends seem to be, but would be wi...
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Got a final round for an internship at a tech-based fund, worth accepting offer if graduating in 2 months with no other offers?Hey WSO. I'm currently a senior at a state school in the Bay Area and set to graduate in December. I've been hunting for some post-grad jobs with no luck so far. However, I did apply to a Bay Area-based L/S equity fund with a focus on tech through my school's career portal. Lo and behold, I passed t...
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Getting out of prop- macroCurious on responses. 10 years experience trading everything, but mostly yield curve. Also direction rates, snp, oil, gasoline, individual equities in personal account. I pretty much failed at interviews coming out of school along with having a resume with limits (engineering 3.4, top-20 school...
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Company Interview: Bank J Safra Sarasin - Private Banking Tell me about yourself? Why this company? Why Private Wealth Management? Biggest strength? Biggest Weaknesses? Time you missed a deadline? Recent developments in markets and recent deals? Time shown teamwork? How do you spend your time outside studying? What concerns do you have about starting work?...
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DRW Analyst? Hi, so I recently received a Quantitative Trading Analyst full-time offer from DRW. Because I'm not as familiar with trading compensation, can I ask what is the career progression of this role? The compensation was 110k base with 20k bonus - I was a little surprised since a lot of normal software ro...
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Impact of debt on stock priceHow does paying down debt impact a company's stock price? Obviously it reduces the perceived "riskiness" of the business so the earnings multiple could expand and it also increases EPS due to lower interest payments, so would it be correct to say that paying down debt ALWAYS leads to a higher stock ...
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End of Year Bonus I am a junior investment analyst at a small hedge fund (~50M AUM). I joined the fund since May after finishing my master in finance. My base is 60k plus 10-100% bonus according to the contract. The fund had a good year so far with 22% return. Any guess how much I would get for the end of year bonus?...
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What will prepare me better for a career at a hedge fund, asset management or equity research at a bulge bracket bank?Does Asset Management or equity research provide more valuable/relevant experiance for a job at a hedge fund? Do hedge fund look for people with bulge bracket asset management experience?...
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How to find a mentor in the HF industryHi, have worked for a few years at a HF in London, but have never had a sort of mentor. My PM would not fall into this category for a variety of reasons I do not want to go into here. Do you guys have a mentor? If so, is he/she someone outside your shop? There is probably no defined way of findi...
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CMBS Banking vs Structuring >> HF Between a CMBS banking role (i.e. interfacing with loan sellers, NRSROs, etc.. to bring a securitization to market) or a CMBS structuring role (i.e. modeling cash flows based on NRSRO levels and various b-buyer stipulations), which is better to ultimately make the move to a credit hedge fund? Seco...
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Separating asset management from BO, RM, legalAt the moment I'm not seriously considering starting my own fund, but just to plan (way) ahead, I'd appreciate some advice on this topic. Imagine for a moment that fund capital is not an issue. Say I know people who would trust me with $20 million to invest on their behalf. I'd be running a one man...
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Company Interview: Jane Street Capital - Citadel-Suppose you roll two coins three times, with weights p1 and p2. The first coin lands on heads once and the second coin lands on heads two times. What is P(p1 > p2). -You roll a single dice at most 3 times and your reward is equal to the value of your final roll. You can stop early if you wish...
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S&T to HFHow common is it to move from a Fixed Income S&T position (trading or desk analyst) to a HF? Is it better to be in trading, sales, or a desk analyst position? Any advice for potentially making that move?...
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Hair Bloom moderate the procedure**Hair Bloom** moderate the procedure of hair development. These variables could be things like less than stellar eating routine, drug, ailment, male pattern baldness e.t.c. Huge numbers of these reasons influence the development of the hair and obstruct...
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Company Review: Citadel Investment Group - Citadel global equitiesLots of smart people (both in my group and other group), a good amount of collaboration and sharing of meetings (unlike some other multi-manager funds) with company mgmt, technology and risk management are unmatched in the industry, no expenses are spared (e.g. black car service to/from airport), pa...
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Computer Science Degrees From UIUC in FO? or only Quant? I'm curious if a computer science degree from the college of art and sciences at University of Illinois or NYU can get me into a position like a buy side analyst. I won't get into engineering and I don't see a long term value in a finance degree as I'm self taught. I'm thinking of pursuing a CS degr...
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Moving from SIG ER to HFHey guys, I have recently received an offer from SIG in their equity research division. In a few years I would like to move to a good HF (between $1B-$10B). Specifically looking at L/S, fundamental value, etc. Is this realistic? How is SIG ER with regards to placement? Does it matter whether it is B...
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How does the payouts of capital gains in hedge funds work if you are a investor?Let's say you have 5 clients in a hedge fund who invested the following capital: 1. 10 million 2. 20 million 3. 50 million 4. 100 million 5. 200 million Let's pretend that in this 380 million hedgefund that the fund gained 10% for the year. Let's ignore the entry and management fees for a moment ...
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Company Interview: Citadel Investment Group - Quantitative AnalystHow to compute the convex set of a set of coordinates? Tell me about a time you made a software design decision. What was the problem and what was your reasoning? I tell you that I can determine what flavor of Skittles I am eating just by the taste. There are five possible flavors of Skittles, and ...
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What is your news feed like?Hey everyone, I was wondering what your guys' daily news feed is like, what apps and social media platforms you use (if any), etc.? I'm trying to update mine, and I think many in the general community would want to learn more about the best channels for different types of information....
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Need help / Insight on Hedge FundA headhunter from a $13B Mult-Strat platform reached out to me for a senior analytical / reporting role. A portion (unknown %) of their assets are in "large portfolios" of MM / Small Biz Loans, which I currently cover. Other strats include Equity/ Cross asset vol, Factoring, and Reinsur. I have s...
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Company Interview: Capula Investment Management - quant researcherwrite a program to move inside a square spiral? i.e. Start at the upper left corner of the square and walk its edges clockwise. Just before re-approaching the upper left corner, spiral into the square instead, ultimately arriving at the center of the square. There are 10 red, 11 blue, 12 green cham...
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Company Review: Citadel Investment Group - CitadelReally liked the work environment found it rather friendly and mentor/boss was extremely helpful to me as an intern. . Had to work long hours and the job did feel stressful at times because it's very performance driven. ...
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How is it like for a trader on a systematic hedge fund?I have been invited to an interview for a trader position on a hedge fund. This specific firm is only focussing on systematic and model based investments, in which I expect that the actual trading primarily is determined and executed via these systems and models. To this I have some mixed impressio...
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Would you work for a family office?3 years into my current gig at an equity L/S fund (started out of undergrad) that's getting hit with redemptions so I'm looking to get out ASAP. I am weighing a few options at the moment: (i) MM PE associate, 2 funds with total AUM 500MM-1B range. Good comp package offered and solid team but not mu...
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Point72 SA 2018 HirevueAnyone else get this/done this? Looks interesting, imo kind of a strangely worded essay question though....
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AMA: Former hedge fund junior trader/analystI recently got laid off by my employer, a larger credit focused hedge fund. I though I'd create an AMA to clear up questions anyone may have regarding the hedge fund industry. I traded multi-asset classes included ig, hy, cds, clo's, mbs, and specialized in tech and healthcare industries. My backgro...
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Have you ever changed your strategy in the HF industry? Need help plsLadies, gents, Been with a large HF for 3 years, but strategy is trading heavy and not necessarily based on fundamentals. I want to do a value-based strategy instead. Point is how to get there. Either I educate myself or I thought of even doing an MBA a la CBS (value investing programme in 2nd year...
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Hair Bloom Hair Regrowth move the liquid**Hair Bloom Hair Regrowth** move the liquid through its body into the guts. Your infant will now have obvious toe nails and the hair on their scalp is creating and in a few children you will have the capacity to see eye temples also. Despite the fact that the...
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European hedge fund in the USCan an European hedge fund hire an American company (that has the appropriate license) to sell hedge funds to US investors locally? Or must the European fund obtain its own license?...
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Company Review: Point72 - P72 InternshipGreat working environment, smart co-workers. Worked on very interesting investment projects that spanned multiple industries. . Could be a bit competitive at times. Constant feedback cycle that could be helpful to others but was personally very intense. ...
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Company Interview: Bridgewater - Bridgewater Investment Associate InternshipYou won't know what question is going to be chosen for your debate, so just be prepared to be logical and frameworked no matter the question. For example, one question might be "Is technology ruining the world." So on the whole the interview questions are completely unexpected and can be difficult, ...
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Company Interview: Point72 - Summer AnalystWhat methods do you adopt when analyzing portfolio in your last internship? There is nothing too difficult to answer as they were just first two rounds of interviews. However, the interviewer do improvise their question based on your previous answer as a result it would be pretty hard for you to fo...
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Should I Read Academic Research On Finance?This week, a prominent American Economist famed for his work in Behavioral Finance, Richard Thaler, took home the Nobel prize in Economic Sciences. As I found myself reading these headlines in the news I found some pride in being able to say I was already familiar with his work and the work of his c...
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Company Review: Bain Capital - 8/10The people are really friendly and smart. You can ask questions and it's a great learning environment.. There can be a sense of artificiality in the office, and placement is pretty much out of your control since the hiring is for generalist programs and they don't seem to take personal preference in...
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Learn Programming or CFA for Macro Fund?Was wondering for someone who is looking to move to a Macro fund, what is more useful way to spend their time to make themselves a more viable candidate--- learn how to program (python, C++ etc) , or start taking the CFA exams? Is the CFA useful for global macro or a waste of time? Coming from S&T ...
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Company Interview: Point72 - Summer Analyst Asia"Tell me about the intersection between research and markets, what excites you about it" I had three minutes to prepare and I could barely put up a logical answer to this question. I tried to think of something other than equity research and investment opportunities and seeking alpha all that kind o...
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Company Review: Jane Street Capital - GreatPretty good company, extremely smart people. and I enjoyed spending time with them. Trading is always the way I loved in this company. Training program and also the real life experience in trading real money. Discuss potential edges with senior traders...
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Company Interview: Worldquant - Quantitative ResearcherWhat is the probability of getting sum < K , where K is the sum of 3 coin tosses {head = 1 and tail = 0 } attempts ? Consider that there is a deck of cards where on one face there is the serial value of the card and on the other side is its actual face value like , and so on. Now you plot these ...
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PJT Park Hill Group Hedge Fund Distribution InterviewHi guys, I have a first round interview coming up in the coming days and was wondering if somebody could give me some advice on what to expect. I'm currently employed in a small merchant bank and had a 6mo internship at a PE fund. I don't have too much background on HFs but I understand what they a...
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What's a good math formula to see whether the price of a stock will go up or down using its financial ratios?The stock market is pretty complicated. What is a good math formula using the companies financials statements to determine whether its stock price will go up or down in the short or long term?...
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Company Review: McKinsey and Co - think before you joinpay is good. bonus is good. free snacks, people are nice, good office, good computer monitors, flexible.. not too much growth, business is going downhill, too much turnover, too many contractors, technology is too slow....
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Cowell and LeeHey has anyone heard of this fund in hong kong called Cowell and Lee? I'm looking to move out to Asia and apparently they're an event-driven fund focusing on credit. Any feedback would be great, thanks!...
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Machine Learning Quant, Citadel vs GS, offer adviceHello everyone, I received two offers, one as a Machine Learning Quant at Citadel Securities focusing mainly on options, and one as a synthetic products quant at Goldman Sachs S&T. Goldman Sachs made it clear that it would be a role focusing a lot on machine learning. I am really interested by Machi...
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MBA v/s MFE(MSCF)Hi, I'm 24 yrs old, IIT graduate from India with 3.5 GPA.Currently(~8 months) working in a sell-side firm(GS/MS/JP), with prior 1.5 yrs experience in Fortune 500 firm Risk Mgmt/Analytics firm. Need to decide if I should be focussing on MBA or MFE programs. My aim is to get into hedge funds, trading ...
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Parnassus Investments Research Analyst InternshipI have an interview with Parnassus Investments for their summer research analyst role. It seems like a great hedge fund based out in SF, focused on ESG factors. Can anyone provide color on its recruiting process or what it's like to work there?...
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Developing Macro and VBA skillsI was not sure in which Forum would be best to present my question, but I figured a trader or data analyst at a fund could potentially have insight. Trying to develop my Macro and VBA skills, has anyone utilized an online program or self-study that they could recommend? ...
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tax on your bonushi, just curious if there's any best practice to optimize the tax structure of your bonus? What's the preferred / optimal spilt between cash bonus and carry? ...
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Company Interview: Point72 - Point72 Full Time AnalystNothing really unexpected. Was asked for one stock pitch. After that, I was asked to describe one industry I was interested in, except finance and technology. I was was required to answer why I was interested in investments in Mandarin or Korean. I believe it's a typical video interview for investme...
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Company Interview: HBK Capital Management - Quant Research1. What is the Rank in linear algebra? What is the rank nullity theorem? 2. From the newspaper, we know the probability of more than one meteor strike in the next century is 10%, what is the probability that you get a strike new year? 3. What is the regularization, LASSO and Ridge regression? 4. Wh...
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Company Interview: Man Group - Internwhat's the angle of the clock at 3:15? A car travels a distance of 60 miles at an average speed of 30 mph. How fast would the car have to travel the same 60 mile distance home to average 60 mph over the entire trip? Pitch me a stock? How large is the hedge fund industry? One of the interviews was a...
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CFA & Hedge Fund RecruitingI currently work in trading and am on track to finish all 3 CFA exams by age 23 (won't have enough work experience for charter). Will that set me apart in hedge fund recruiting?...
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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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Would you recommend your younger self a career in hedge fund? I'm genuinely motivated and passionate about a career as a hedge fund manager. I'm sure there are others here too, aspirants as well as those who made it already, with that sort of passion. I'm sure most of you who made it will agree that its not only about the money, if that were the only motivat...
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Company Review: Two Sigma Investments - GoodNot sure yet; haven't started. Have heard very quaint things from recruitment, but not sure if employees felt that way.. Very hush about things, and not sure if the work is at all meaningful; no lunch but that's not a big deal...
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Physics Major For Hedge Fund JobI really enjoy physics but also have a passion for investing. Is it a bad idea to major in physics and minor in finance? Even if my GPA was a 3.2? Also, I am not looking for a quant role. Would hedge funds also care at all for looking at track record in the stock market over 4 years?...
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From Top AM to L/S Equity HF?I'm a 1st year (primarily Sales-) Analyst at a top AM (in terms of AuM and prestige) looking to move into a L/S equity HF within 1-2 years. I've got some exposure to corporate finance through internships but still feel I'd lack behind individuals with IB experience in terms of company-level modeling...
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Hedge Fund Intern PayCurrently talking with a small $200-300M L/S fund about an internship and the fund wasn't looking for an intern until I reached out. Fund manager basically asked me what I was expecting in terms of compensation, and I'm not super sure what market rate would be. $20-25 an hour? Or would this be too m...
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Company Interview: Point72 - Academy Summer AnalystThe hardest part of the interview was arguably an investing case study, that was a bit of a mix of a traditional banking case and a consulting one. Initially, I was given limited information about 2 companies, basically just their projected EV/EBITDA for the next few years and was asked to make a de...
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Tontine Asset ManagementWould love to hear people in the industry's thoughts about Tontine (Jeffrey Gendell). I was contacted by a HH about an opening there and was wondering if it was something worth pursuing as I look to make the jump from IB to HF. Obviously was killing it for a while and then got crushed in 08/09 but i...
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Best Industries to Specialize InAm interested in learning the community's thoughts on what are some of the best industries to start off in for equity investing at a hedge fund? Is it advantageous to start in cyclicals (e.g. chemicals) vs growth (e.g. tech)? What about highly specialized industries (e.g. O&G or insurance)?...
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New Case Webinars in WSO Hedge Fund Prep PackOver the last 12 months, we have made a big effort to improve our hedge fund interview prep package by bringing to you relevant webinars with interview advice and actual investment pitch walk-throughs...I think for those of you that don't watch the webinars, it would be helpful to give you a brief s...
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Company Interview: Bridgewater - Investment Analyst Intern InterviewThe whole process was very difficult. Like one guy would go, I believe corporation should be allowed to donate to political campaigns, because it is a legal person. Interviewer would ask me, how do you respond to that? Do you agree? When I answer, he would follow up and ask clarifying questions. It ...
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Akuna capital phone interviewHi, I’m a sophomore in college. I was moved on to the 4th round phone interview stage for a trading internship at akuna capital today. Has anybody over here guven a phone interview with them? Just want to get an idea of the type of questions they ask. Thanks...
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Company Interview: Blue Mountain Capital - BlueMountain Capital ManagementIf we flip a coin 100 times, what is the probability of getting even number of heads? There are an unknown amount of people on a bus. After the first stop, three-quarters of them get off and 7 get on. This happens again a two more stops. After this process, what is the minimum amount of possible p...
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Urgent: Junior HF Investment Analyst phone interview in 45 minutesLong story short: - Gonna talk to a recruiter - Most likely a boutique, but you never know - Currently working in transactions in big-4-ish audit Thanks ...
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Arena Investors ReputationDan Zwirn, formerly head of DB Zwirn, created a new hedge fund called Arena Investors. Does anyone know these guys? What is their reputation? Will Zwirn be able to rebuild a billion dollar fund in light of what happened?...
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BB market maker rates trader to hedge fund*i posted this on the trading forum..but just in case this is the better location - i am pasting here* I'm currently a rates market maker / prop trader at one of the large BB shops. For a few reasons, I'm considering one of the following 3 options 1) moving to a full prop shop (like First New York...
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Man Group Graduate Progamme trainingHello I have an upcoming interview for the Graduate Progamme. Does anyone know what to expect during the interview process and what the actual rotations consists of? Sounds very general to me. Thanks ! Here is the job description: Graduate Trainee Programme: Man Group plc is launching its new g...
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Hedge Funds that offer internships/grad programmes without previous experienceI am studying at the MSc in International Finance at HEC Paris at the moment. I have done a 6-month internship at Mediobanca (Financial Resources Management - Group Treasury) and am willing to join a hedge fund. I am mainly interested in macro discretionary investing strategies, but I am open to dif...
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How important is choice of undergrad college for investment & finance careers? Let's say I want to wind up working at a hedge fund of some sort. Is the 'normal' route for me to go to an Ivy league school major in engineering, work in consulting for a while, get an IVY MBA and then ease into that world? Or is that not how it works? Is it mainly about other things. Is there a t...
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Best books from managers?I know the new Dalio book came out, but not sure if I want to read it because feel it'll be so immersed in his philosophy and radical transparency talk. But are there other books from managers that are a good read?...
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Company Interview: Point72 - Point72Describe a scenario in which you had to analyze a data set. How did you go about it and which specific methods did you use? Then the rest were standard behavioral questions. Overall, considering the quantitative focus of the role I was surprised by the lack of quantitative questions asked by them. ...
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Networking Out of SchoolIn school at your University it was generally easy to network as the university would often bring someone in to network with. Now, out of school how is everyone networking with asset managers? Outside of going to these crazy expensive conferences (such as Sohn, or whatever) what are you doing? Pleas...
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Part time internship at secured middle market lender?I submitted an app a couple of days ago and the VP at the firm reached out for a phone interview. I'm not sure how far this is in the recruiting timeline, but I'm just kind of wondering what to expect from the interview, debt questions, etc? I did an IB summer analyst in China last year, which was n...
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Point72 Academy Superday?Has anyone been through or heard of what Point72 Academy's superday is like? I haven't been tested on too many technical finance questions so far, which is weird for a finance position. I am wondering if the superday will also be very non technical....
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DRW electronic options market making desk-----------------------------------------------------------------------------------------------------...
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What is a Hedgefund?Hi Community, Let's break down hedgefunds for a minute. I am aware, for the most part, the role they serve for society. However, I would like to ask a few questions to some experienced people who are in the industry. 1) what is the main role of a hedge fund firm. Day to day activities? 2) what are...

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