Silver BananaTopicReplies
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Most Impressive Colleague?I am curious to know who in your opinion was the most impressive colleague you ever encountered? What did this person do to make you think he will bring it far in this business? Was it the proposition of a particular strategy or rather personal characteristics?...
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Disagreements with PM - Best way to diffuse a ticking time bomb?Hi guys, I'm an analyst at a single PM fund and recently ran into major disagreements regarding portfolio positions with the GP/PM regarding how the individual positions will react to certain events. If my recommendation were to have been taken as opposed to completely exiting, it would have save...
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Goldman Algo Trading Strats vs Bridgewater Investment associateI am an Ivy undergrad. I interned at Goldman and received an offer from their Algo Trading team for FX Market making. I also received an offer from Bridgewater as an investment associate. In long run, I want to work on data-driven trading/research roles may be at a place like Citadel or Two Sigma (o...
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Multi-manager hedge fund analyst total compWhat is the range in total comp for an equity analyst at a multi-manager hedge fund (Citadel, Millennium, BAM, P72 etc.). I realize it depends on AUM of the particular pod, performance in the year, and the analyst's seniority/contribution.. But in rough terms, and assuming the average base salary is...
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Transitioning to Portfolio Manager from Research AnalystKeeping this short - I am a bit over five years out of school and have worked as an Analyst at a long only fund and a L/S family office (current role). We are quite tiny, but the family's net worth is well into 9 figures. I took a cut in pay from my last fund (around 170k all in previously), to he...
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I'm bored: Macro Hedge Fund PM Q&AHowdy folks, this market has me bored to tears [edit: I'm truthfully also just having a harder time getting a read on conditions than at any point in my career, so that is prompting both frustration and introspection], and just for work-unrelated reasons, I have a bit more free time on my hands at p...
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Looking to start a fund Hello! New to the forum here at Wall Street Oasis. I know this topic comes up a lot, but I'm looking to launch a hedge fund to invest in global equities. I currently live aboard and want to attract US investors looking to diversify. I want to launch a hedge fund in the US but live in the country ...
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Investment clubHi everyone, I wanted to check if someone could suggest online /offline investment clubs or forum to understand the different investment approaches / rationals being discussed on day to day basis ? Thanks, K...
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How would you prepare for a hedge fund internship when you have no relevant experience?Hello, I've recently secured a hedge fund internship for Summer 2019. The only issue is, I have never done an internship before and am not sure what skills I will need in order to be successful (secure a full time offer). I've seen the Linkedin profiles of people that have gone through this same ...
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Interview question @ Wall Street hedge fundInterview question @ Wall Street hedge fund: You have the chance to spend $200k for an investment. What is according to you the best investment. One guy said it was to do an MBA at Stanford, Harvard and UPenn (assuming yearly tution costs = $100k and the program is 2year long). Consider this...
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How to start trading Global MacroOkay... at the risk of making myself sound really dumb, but hopefully helping answer some of the same questions that others on this board have... here goes... Assume the following: Someone paper trades US equities but not to any meaningful degree because they have to work the whole time that market...
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Point 72 Asset Management - Interview - Hedge FundWhat would your most difficult professor say about you? While I was expecting questions about my worst professor, it took me a few seconds to think about my most difficult professor and what he would say. Another question was: "Describe a deal you have been following recently." Most HF and IB compan...
The Westpark Fund - Interview - N/AFirst I was asked to answer on paper a few questions about why I wanted to work for a hedge fund and what I wanted to learn from the internship. Then I met with the fund manager and someone else in the office took notes during the interview. It was all questions about my resume and nothing technical...
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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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Point72 - Interview - GeneralistThere were not any interview questions that were out of the ordinary. A vast majority of the interview focused on basic behavioral questions and the remaining portion was dedicated toward evaluating how candidates thought about companies. There is no need to memorize facts about companies, but one s...
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TMT Hedge FundsAny insights on some of the top hedge funds? Coatue, Cadian, Criterion, Light Street, Tiger?...
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Two Sigma Investments - Review - EngineeringGood work life balance, diverse options, lots of focus on keeping employees content and productive where reasonable. Large, many lines of business, some confusion as a side effect, hard to ensure everyone is working on impactful projects...
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any TMT hedge funds ? Anybody knows any other TMT hedge funds beside Coatue, Cadian, Criterion, Light Street, Tiger ? Thanks!...
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I have a million dollars in my IBKR account and will get 10 million more next year, how do I successfully create a hedge fund?I'm 19 years old and in a unique situation where me and my friend (his dad is an ultra wealthy Chinese entrepreneur) were given a million dollars to invest and use to create a rudimentary fund management firm. We were told that if we could outperform the market and create a strong foundation for a l...
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financila analyst I am Candidate for the CFA designation (Chartered Financial Analyst), with dual Master’s degree in Financial Management (MBA) a...
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Global Macro's Future "Stars" - Where Are They Coming From?What professional backgrounds are today's and tomorrow's top global macro minds coming from? And how much does the environmental backdrop help explain this? Pretty simple question, but I think it's interesting to note the following trends for context. The first generation of global macro investors ...
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Dalio's all weather Portfolio - Value Investing versionI recently thought about this idea after reading Dalio's new book. Many of you are informed with Dalio's All Weather portfolio. It has returned on average 9.6% over the past 30 years. For those who don't know its a mix of 40% long term bonds, 15% short term bonds, 30% equities, 7.5% gold, 7.5% commo...
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Hedge fund trendsHi all, With hedge funds facing ever increasing competition and challenges, from having to cut management fees to attract investors, to facing increasing competition from quant funds. Does anyone within the industry have any insight on current trends and developments? Is there an increasing need fo...
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Paul Singer : The Doomsday Investor Anyone see this ? https://www.newyorker.com/magazine/2018/08/27/paul-singer-doomsday-investor Good read in my opinion. Funny how they tried to paint bush so sympathetic and as if he didn’t deserve what he got etc (I guess that’s the NewYorker for ya) . Thoughts on Elliot and his strategy? I th...
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Ruane Cunniff & Goldfarb - Interview - GeneralistThey asked me many questions about my personality, many behavioral questions that you might expect from a normal banking interview. I was asked questions that gauged how I would work on independent projects and with other people. I was also asked about my investing experience and about companies t...
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MBA for credit roles (stressed, distressed, opportunistic)Looking to get some input from those who have either done an MBA and are in a credit hedge fund role or are familiar with the post-MBA recruitment opportunities within credit. Are there any benefits to attending an MBA program (e.g. top 7 MBA excluding H/S/W) in terms of academics, perception, netwo...
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Best Way to Break Into Shareholder Defense?Hi everyone, I am currently an Investment Banking Summer Analyst in the M&A group of a bulge bracket firm (think CS / BAML / Citi). One aspect of finance that I'd heard quite a bit and read about is shareholder defense - specifically, advising boards through hostile takeover attempts and in gener...
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D.E. Shaw - Interview - Equity ResearchTell me about a time you made a mistake? Rigorous resume questions ranging from classes to athletics. Numerous questions regarding what I took away from experiences such as volunteering and teaching. Heavy emphasis on past transaction experience - anything on your resume is fair game. Asked a numb...
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Forensic accountantsTo fellow investors: What forensic accountant firms have you used in the past? Can you recommend any and why? tx...
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Citadel - Portfolio Construction Group and Risk details (Salary, bonus, career path etc)Hi All, I'm in discussions with Citadel for a role in their PCG group and was wondering if anyone could provide some details about this group and some advice. Some specific questions: 1. What is is the pay structure and bonus like? I have 10+ years of experience and am currently working as a He...
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Can there be good investors in public equity markets today?I’m curious about you guys’ thought on whether there can still be great investors in public equities (excluding micro cap) in today’s world. Excluding platforms like Birkshire, can they still exist in a normal fund with today’s market infrastructure? (I’m talking about human investors, not...
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Point72 Video InterviewI have a video interview with Point72 this coming Monday and I am not sure what to expect. It is for the 2019 Academy Summer Internship. Any help is much appreciated....
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Something between burnout and intellectual stagnationNot entirely clear how to ask this question, so hopefully this makes sense. Backstory: Started career at a credit fund. Absurdly intense environment, arguably abusive, definitely unhealthy, etc. Lasted there for a couple years then needed a break. Joined a MM PE shop that is building out a distres...
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Hedge funds AGAIN getting killed by IndexesJust a follow up to an earlier post -- another report today on how the average hedge fund, YTD, is getting killed by indexes -- average hedge fund down 1 percent, vs. S&P index up 8 percent. https://www.cnbc.com/2018/08/21/hedge-funds-are-struggling-this-year-due-to-facebooks-plunge-bets-against-st...
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Energy vs Utilities vs Infrastructure vs Natural ResourcesThe question is in the title - which of the coverage/industry groups listed in the title would you be most/least keen on covering? I understand there is often overlapping companies, themes, etc. across these groupings (not mutually exclusive) but nevertheless interested in your thoughts as many hed...
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Hedge Fund AdviceHow would you recommend a trader with a couple of years of experience leverage his abilities into a Hedge Fund. I have a Bachelor's and a Master's in Mathematics, and currently a CFA Level II Candidate, any recommendations?...
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JPMorgan Chase - Review - Equity Capital MarketsGood work environment, decent work/life balance, Ohio is a great place to live without all the hassle of NY. Not enough meaningful work, there were times were I was just doing busy work and not getting much out of it. ...
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From M&A to Hedge FundHi there, I'm an analyst in a sector team in an investment bank in London. As everyone, I was looking at private equity exits but I start wondering about hedge funds / tactical opportunities / spécial situations. I guess the ones where the IB skillset would be the most relevant are: long / short, ...
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Hedge Fund FundingWho do you contact to get a real estate deal funded by a hedge fund? I have clients that need $3m-$300m in funding?...
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L/S portfolio construction thoughtsTo fellow investors: How do you think about your portfolio construction set-up? Apart from concentration, geographies, industries, net/gross exposure and turnover, what else do you take into consideration? ...
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CPP Public CreditHas anyone got any info on CPP's Public Credit group, is this like a hedge fund or an asset management firm? ...
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HF vs PE without experience, which is easier to break in to?Apologies if this has been answered in previous threads, I did look but was unable to find anything directly comparing the 2. My question is, **for someone who is not currently in finance, which of PE/HF would be the easier to break into?** I understand fully that both will be extremely difficult, ...
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Negative FundNegative Fund: where investment loss reduces tax burden? Investments would support business such as concert (jazz) promoting or programs to provide the homeless with container homes; win/loss. if so who manages it? If none who would be interested in starting one?...
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Canadian HF industry Would love to get people’s view on the state of hedge fund industry in Canada. Are there a lot of jobs? Do they invest in non-Canadian assets? Has anyone here moved from the US (back) to Canada?...
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How do I get sell-side equity models?My bank has access to sell side reports from a few brokers, including ourselves. But how can I get the corresponding models?...
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Susquehanna International Group - Review - TradingShallow management hierarchy. Lots personal responsibility. Most coworkers are very intelligent. Good opportunity for internal transfers.. Technology development is chaotic and inconsistent. No offsite work. Can't bring spouse to company Christmas party. ...
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Hedge Funds - the Australian POV (uni student)Hi WSO and thanks for taking the time for reading my first post. There aren't too many posts on here about Australians looking for HF careers and it's no surprise. In my city the scene for HFs is close to nonexistent and there is virtually no word of them at all at universities around here or in my...
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networking follow up with analyst at top fundapologies this might be a stupid question, but just to give a background: junior in college. I had an informational with a guy at a top fund last month. The call went really well. He even asked me if I had some idea in mind. I told him about this short I was working on at that time - he seemed inter...
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Two Sigma Investments - Review - Quantitative ResearchTwo Sigma Investments is a phenomenal place to work and I would highly recommend it to anybody. My coworkers were kind, interesting, and were excellent mentors to me.. I have very few complaints about my time at Two Sigma Investments - as I said under "Happiness, I thoroughly enjoyed my time there....
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Canada Non-Equity HFsLooking for names of non-equities hedge funds in Canada. Specifically looking for global macro and commodities Hard to find information about HF industry in Canada, probably because it is small, but would be very grateful for any color. Thanks guys...
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Modeling courses for HF?Hi, I've been looking around and haven't seen modeling training courses for HF or AM, they all are for IBD. Does anybody know any courses for HF/AM? or should I take those IBD training courses (Wallstreetprep, BIWsS, TTS...) Thank you,...
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Info Request: Select Equity Group Interview ProcessWondering if anyone can give any color on Select Equity Group? What's the typical pay like for an entry analyst? How long is the interview process? Thank you!...
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Risk Per Trade in Macro InvestingI have read a few books (and online resources) on macro investing but I still don't have a good grasp on the concept of risk per trade. Could you help me understanding it please? (below are a few thoughts I have on this). I find the consensus advice from the legends and pros is that that traders s...
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Asset Base LendingAnyone here who does Asset Based Lending? Is this a good field to get into now? Do any HF and PE shops look for people with this skillset. How does ABL at a bank stack up to LevFin in terms of exit opps and skillset?...
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Ruane, Cunniff and Golfarb Rep/CompThoughts on Ruane, Cunniff and Golfarb for an internship and full time analyst position? Their investor day shows they invest through the main Sequoia fund in addition to 2 other hedge funds. Wondering what the reputation of this firm is like, especially after Valeant. Since they only charge a 1% mg...
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Gamco vs other value shops - plus culture/compThere are a number of quality value shops in the equities space out there. How does Gamco compare with the usual suspects in terms of culture / comp / exit options? Appreciate any 1st hand insight. Thanks ...
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bcIMC - Review - Generalistgood pay, amazing opportunity. Vast amount of deals. great team. Best opportunity for a pension fund and PE firm in the west coast. Location is hard, frequent layoffs. Comps are not as good as other pension funds. Known for be a sleepy firm but taking on more active roles recently....
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Modeling in HF vs IB?Hi friends, Is there any difference in Excel modeling between HF and IB? My guess would be that HF is more towards the 3-statements model and DCF and comparables while IB builds M&A models, LBO, etc... What are your thoughts? Thank you...
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Fundamental groups within platforms?To fellow investors: do any of the platforms and MMs have fundamental equities groups? In other words, not the usual 1-2 quarters flipping with leverage. Having in mind: Citadel, Millenium, Balysasny, P72, Marshall Wace. Would also be interested if any of the fundamental teams are generalists. ...
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Citadel Investment Group - Interview - N/AYou have three cards, each labeled n, n+1, n+2, and you don't know n. These are the rules of the game: All cards start facing down so you can see them. You flip one card. If you choose to "stay", you get that card's value. If you don't "stay", then you flip another card. Again, choose to "stay" (and...
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Advice needed about obtaining an internship or analyst position at a quant fundHi guys, I really need a professional advice about my career options. I currently posses a 2.1 BSc Mathematics from an average not too good university in the UK. Furthermore I also pursued a MSc Statistics degree at Warwick university, however I made some mistakes with choosing modules, meaning tha...
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How do I raise money for a hedge fund?Let's say I wanted to start a hedge fund in 5 years. What would I need to do now to make sure I know the right people to be able to successfully raise money for this? How am I supposed to meet these people? To me this sounds impossibly difficult, and I actually don't understand how I would ever mee...
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GMT Capital Corp - Interview - Equity ResearchThe most unexpected question they asked were questions about contago, backwardation, and land productivity. Basically they asked about the physical crude commodity complex as well as the reasoning behind me having a large position in E&P producers outside the permian region in the last interview. Th...
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Large hedge funds with few employeesHello, I was looking at a hedge fund recently with fewer than 10 employees. It manages over 600m. It has grown a lot recently. So they may have some hiring. Are there examples of other large hedge funds with few people. What mostly contributes to the employee size? Is it certain strat or funds that...
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Harvard Management Company - Review - N/AI worked at D. E. Shaw & Co. - Investment Firm full-time (More than 8 years) Pros You get to work with the best thought leaders in the field, in a true meritocracy. Cons Imposter Syndrome is common. Most new hires are used to being the expert at what they do. It can require adjustment to get use...
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Lying About Passing CFA L2 on the First Try?So I was interviewing for a HF research role and the interviewer asked if I passed the all levels of the CFA on the first try. For whatever reason, I quickly answered yes, even though I failed L2 once. I immediately felt awful for the lie, but I held my composure like Nixon in the first half of the ...
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Most chill job available for someone with HF experienceFormer equity L/S HF guy here. Worked at a few multi-billion funds, both with sector specialist and generalist experience. Made my way up to the senior analyst level, and have a couple of monster PnL home runs to my name, but felt burned out and left last year. Been chilling and working on personal ...
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Should HF managers pay for losses?I found[ this article ](https://outline.com/kRzzSC)from the Financial Times, talking about an alternative compensation structure for fund managers. It talks about how HF manager comp is "one-sided" in that, if the fund generates a profit, the PM gets a fat bonus, but if the fund loses money, the P...
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D.E. Shaw - Interview - TechnologyAsked many details about python multithreading. Specifics on GIL, why threading in python is better or worse than in other languages. In general, heavy emphasis on knowing the ins and outs of python compared to other languages. Was also asked about various graph algorithms, whereby BFS/DFS can be us...
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Bridgewater vs. D.E. ShawI'm a current business school student at an M7 (one of the perennially top ones, if that contributes) who intended to go through MBB recruiting, didn't take networking *sufficiently* seriously for my demographic, ended up with just one first round interview, got a final, but got dinged. Subsequentl...
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Hedge Fund (NYC) v. Boutique IB (SF)Have an offer from a top-ranked hedge fund in NYC and a boutique IB in SF for summer analyst 2019 (junior year internship). My dilemma mostly surrounds * **exit opportunities** - Not sure whether I want to close that off immediately. May want to exit to a corporate in healthcare or tech in the f...
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European HF InternshipHey everybody, i am looking for fundamental L/S equity hedge funds that offer internships in Europe (Zurich, London, Frankfurt). So far i have only come across Cevian Capital. Does anybody know other funds?...
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Best way to get to value fundHello all, I am currently a rising junior at a nontarget in a flyover state. I have always been interested in value investing and would someday want to start my own. I'm lost on how to get there as I always thought IB would be the best way but as recruiting is finishing up and I don't have an offer,...
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D.E. Shaw Nexus/Latitude FellowshipDid anybody else apply to the two day event in August? They said we we would hear back in late July, so just want to get this thread up....
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short stock pitch reviewhi, would anyone with experience in the industry be willing to review a short stock pitch? if yes, pm me your email and I'll send it to you. Don't want to put it out here because I'm planning to use it for upcoming interviews. It's a 1-2 page short on a chinese company I believe is a fraud and is h...
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Investment PitchOver the last 3 years I have developed a systematic L/S strategy that has continuously generated alpha and is ready to put into production at an institutional level. Strategy is both scalable and repeatable. It is a relative value strategy that also incorporates options to exploit small but more cer...
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Quantitative Algorithmic Trader CompaniesDoes anyone know which hedge fund companies in Los Angeles hire Quantitative Algorithmic Traders? Also- is there an employment agency that can help?...
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Is the internship I'm doing relevant to HF?Doing a risk management internship at a big 4 right now, and quite frankly, I don't quite like it. Its a freshman internship thats a month short. I've always been interested in getting into HF, but I don't quite see how this internship I'm going through with would be relevant as I'm mostly doing hed...
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AMA: equities hedge fund Senior Analyst at large U.S. fundUpdate: Thread closed as of 6 Aug, I won't be able to comment after that. Ladies / gents - thought of doing an AMA. I have worked in the hedge fund industry for 4 years in fundamental equities for a large multi-strat US hedge fund. Worked in banking before. Fire away any questions - usual disc...
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xlp capitalhas anyone heard of xlp capital? www.xlpcapital.com/ family office in nyc run by two princeton grads with a history at bcg. Talked to a few people who interned there and they all said that the internship program was great with a lot of focus from MDs, so definitely considering them. But wanted to s...
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Market Making subsidiary of a hedge fund - prop trader requirementsfor a large macro hedge fund 20bln+ that has a separate (yet large) market making operation, what kind of numbers are they looking for in terms of a macro trading strategy / prop trader? Sharpe Ratio min P&L (% and $$) Balance sheet usage and turnover any insight would be appreciated...
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