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+24
Advice on HF Recruiting

floppity

I figured that I'd give back/pay it forward in one form or another after being in the industry for a while. Frankly, the most relevant thing I could think of was advice on people searching for new opportunities. My advice is more tailored towards fundamental investing hedge fund recruiting...

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I work in event driven / arbitrage. Here are some career advice for you

halfstep

It’s been a while since I’ve visited <abbr title="Wall Street Oasis">WSO</abbr>. Yet in my early 20s, this was the place that I would often come to for information and guidance. In the spirit of giving back, I’ll share my story and a few nuggets of wisdom that I...

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AMA: Hedge Fund Analyst Out of Undergrad

hedge fund baby

Background: Target school, studied engineering. Summered at a multi-billion $ hedge fund doing fundamentals l/s and currently at another multi-billion $ hedge fund full-time. Willing to answer anything that does not have to do with my personal past experiences (to preserve anonymity).

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+1
DE Shaw, Citadel, other buy-side internships

Trojan1999

Hi, sophomore at West Coast target here. Are any big buy-side shops still recruiting for SA 2019 fundamental research positions? I've seen the DE Shaw positions and have already applied for P72's sophomore summit, but I'm not sure about the timeline. I'd greatly appreciate a response--thanks!...

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Strongest path to Distressed Debt HFs

Wolfofgeorgestreet

What is the strongest path to get into Distressed Debt investing? I've heard restructuring, Lev Finance and High-yield credit analysis are some of the go to's. Any other strong pathways into Distressed Debt orientated Hedge Funds?...

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Where would you rather work: D.E. Shaw or Point72 for Junior Summer?

taulamep

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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My Quant Hedge Fund (Crypto and Digital Assets) Finally Launches in 2 Weeks

justinmantra66

After over 8 months of preparation, formation, operations construction and meeting with prospective team members, my quant hedge fund is finally launching. It's being led by myself as well as a former 15 year Goldman alum. Been a pretty longtime lurker on WSO from a different account (Don't have acc...

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Distressed Debt Pitch

Fcbhawk

Hi all, I am a student looking to get an internship in a distressed fund. I have done a short writeup on Noble Group's bonds to demonstrate my interest, and was hoping someone could comment on it. Unfortunately due to my lack of prior experience, the writeup is not in depth and merely a high level o...

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what should i invest in if i can't invest in stocks?

BobbybananamA

let's assume you can't time the market but you believe the specific asset selection is a core capability you have. let's also say your fund doesn't let you pick stocks for your own portfolio. what other ways can i exercise my investing ability to pick specific analyzable assets without doing it in t...

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Credit HF - Credit Agreement Case Study (6-8 Hours with 150 Questions)

cjfreeman114

Hey All, So I got selected to go in for an in person interview with a lean and quite new High Yield Credit HF. The first round consisted of a 60 min online survey that was about 25% behavioral and 75% technical. I was the only candidate selected, based on the survey, to come in or the in person. ...

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Hedge Fund Intern Pay

twinshk2

Currently 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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Distressed Funds in Boston

CashFlowz

Starting from a fresh account to keep some additional anonymity. Does anyone have a list of distressed/special sits funds (or groups) in Boston? Targeting secondary markets only, no direct lending. Obvious ones are: Baupost Bain Capital Credit (Sankaty) DDJ ...

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Point72 Salary

jacboesmith

I am going in for a summer internship but want to know what the ALL IN COMP is for first year analyst out of college...

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Dartmouth Undergrad HF? Should I transfer?

TheBag

I'm an incoming freshman at Dartmouth extremely interested in breaking into HF after undergrad. I know it's incredibly difficult and was wondering if it's worth trying to transfer to HYPS/Wharton after my freshman year. I've heard that the few HFs that do OCR are very selective and only do it at HYP...

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Leaving BO Ops - Need Insight

fdafda

Hi all, Long time lurker on this forum and I've finally come around to register as I want to seek some insight regarding my current situation. About 5 months ago I took an ops analyst position (compliance/legal) at a large (and ever-growing) HF in MA right outside of Boston, I jumped on the ops t...

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Retired PM wants to get back in the game

ozgood-zbeard

I had had a long and successful career as a hedge fund PM. Retired five years ago. I have continued to trade my PM, and I am current on my specialties. My problem is that my Rolodex is stale. Does anyone have ideas of where I should start? ...

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Career Advice: How do I exit to HF?

ModalQuant

I've been a lurker on WSO for a while, but this is my first post. A little background first, I suppose. I am currently finishing up my last year of undergraduate in Honors Philosophy and Applied Math at a target (large State School). Coming into college from an immigrant family I didn't know the fir...

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US recession in 2-3 yrs: Which HF strategy / type most likely to outperform / survive?

kath123

Hi fellow monkeys! I am not experienced in the HF industry. Ray Dalio commented & there has been talks about US coming into recession in 2-3 years or earlier. https://www.bloomberg.com/news/articles/2018-09-12/dalio-says-u-s-in-seventh-inning-as-unfunded-obligations-loom **Strategy & investing ...

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Job market, is the winter coming?

lookingahead

Hey guys, I am new graduate looking for job. It looks like not many funds were doing well recently, despite the main street is still in good shape. Q4 would be the worst I guess. ER folks are already talking about lay-offs. How many head-counts would be cut in the coming Jan? Are there still oppor...

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2018 Hedge Fund Report: 8 Key Takeaways

WallStreetOasis.com

The 2018 Hedge Fund Industry Report compiled by Wall Street Oasis (WSO) provides insight on compensation, the interview process, employee satisfaction and more. All statistics featured in the reports are based on 2,260+ user submissions from the hedge fund industry. The report includes data fro...

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Strategies that will continue to flourish?

bananashit

Hi all, Curious on your thoughts.. what type of strategies do you envision to be sustainable and successful over the next couple of years? People have talked about how the quant strategies have started to degrade a lot of the alpha from the L/S shops. But what about other discretionary strategies ...

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New Global Economy

theworldsfirstglobaldemocracy_1

With the news of the recent Bear market in the US based global economy, isn't it time to start discussing the feasibility of a New Global Economy? ...

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What to Expect for P72 Superday?

stormy54

After making it through a few other rounds I was recently invited into the NYC office for a super day involving a few rounds of interviews w/ some investment professionals + members of senior management. Has anyone been through a P72 superday? Found surprisingly little on what to expect searching ar...

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Preparation for Externship at a Credit-Focused HF?

BuffaloLad

I'm a second-year undergraduate student, and this winter break I will be participating in an externship opportunity at a credit-focused hedge fund/asset manager. The issue is that I have a very limited amount of knowledge regarding the types of securities they are trading and their business in gener...

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HELP: Breaking into HF

motstreet

Hey guys, I need your advice on breaking into HF. Any advice will be helpful. After graduating from a good biz school, I’ve have been trading on my own, and in the short time horizon of my 3 years of trading, I managed to increase my personal savings, $50K to $300K. I also paid for all of my li...

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Audited Sharpe Ratio of 3+

kumarraghu

Hi, I traded spot FX from 2006-2008 and US and International Equities from 2008-2016, during which time I built up an impressive track record with a Sharpe Ratio of above 3 the entire time with almost no losing months. I also co-founded a successful retail stock brokerage during that time. You m...

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UK Quant degree: Imperial Mathematics and Finance vs Cambridge Mathematical Statistics

slumbering_programmer

Hi guys, I'm applying for MSc 'Mathematics and Finance' in Imperial college and also MAST 'Mathematical Statistics' in Cambridge. I already have 2-3 years experience as a developer in a quant hedge fund in London. My goal is to become a quantitative researcher in London. Would any of these 2 degrees...

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R vs. Python in a fundamental equity HF?

therealgekko

Hey guys, so I'm stuck between learning R and Python, and I'm in a fundamental equity research role. Interested in learning 1 of the 2 (could learn both, but honestly I have way too much to learn outside of coding and don't have the time do learn 2 languages on top of that). For those of you who wo...

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Point72 London Reputation/Prestige

ShowMeDaWay

Just wanted to gauge what is the reputation of Point72 in London? Received an invite to an exclusive Insight Day at the firm and while I am definitely going, just wanted to know how respected/prestigious is it in the City at this stage?...

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Mercury Partners: anyone worked here? more info re: job?

PennTeller

Anyone worked with Mercury Partners before? I'm considering retaining them for a search but I don't know much about them. Has anyone worked with them before either as a candidate or a client?...

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Corporate Finance Institute?

Craigp123

Hello All, I am currently a Law student (based in the UK) that has since developed a deep interest in Finance. I was looking at the following course offered by the Corporate Finance Institute: corporatefinanceinstitute. (remove this space) com/certifications/financial-modeling-valuation-analyst-fmv...

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Advice/input would be greatly appreciated

SuperiorRiskAdjustedReturns

DeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDeleteDelete...

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Bridgewater and Point72 not good for long-term career?

TheBag

I'm an undergrad interested in breaking into HF. I've been receiving comments that Bridgewater and Point72, both of which have structured undergrad recruiting, aren't good for a long-term career. Does anyone have any insight on this and is it really better to start in IB rather than at either of the...

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Margin of safety and applicable measurements

Red banana Wagon

After re-reading Been Graham's thoughts on margin of safety, I naturally wanted to look at today's market. He mentions that one measure of that margin is a company's earnings yield over it's debt payment (ie, a 9% yield vs 4% rate would be comfortable). Would it be acceptable to use the CAPE multi...

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+9
What's the word on Citadel now?

Big_Muffin

How should I think about an opportunity with Citadel? Are people jumping ship? They cut a lot of headcount at Aptigon recently. ...

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+39
It's getting ugly out there - Baly to cut 13 stock teams

sonibubu

Article just hit last night...Baly cutting 13 stock teams (~40 investment professionals) plus a bunch of back office to be cut by end of year. Oct was really bad for hedge funds, Nov has been an official **bloodbath**. MLP, Citadel, Baly all getting hit hard. Garden leaves vary by firm, but there wi...

149
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The road to becoming a quant

wolverine19x89

Is there a typical road to becoming one? Or are they usually people with Phds that decide to jump into this kind of stuff? Or are there any that start working in s&t or a hf and then go back to school to become more of a quant? Are most quants from the tip top of the best schools?...

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Moving to the U.S. and looking for advice

keodhd703

Hey there folks! Was browsing the Internet for forums and came across this particular site. Little bit of background: I’m a British citizen, and am now transferring over to the U.S. having requested to do so. Reason being, I’m planning to make the U.S. my permanent home - it’s always been ...

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GoldenTree Asset Management

pufaga

Does anyone know anything about GoldenTree Asset Management? They seem to be a hybrid firm split between more traditional opportunistic HF strategies and safer AM strategies. Is that correct? What has their performance been like in the last few years? Their assets seem to have steadily grown since ...

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Bridgewater vs. D.E. Shaw

tapuzina12

I'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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+14
Hedge Funds v/s Private Equity: Which industry will survive and thrive in the next two decades?

DisGuyDucks

**Loaded Naive Questions Alert:** *Apologies for the verbosity.* I recently read a thread on the hedge fund bloodbath. Coincidentally, I recently saw a video where Balysany spoke at Milken Institute's panel discussion and gave some profound advise on 'How to run a hedge fund?'; and just now I read ...

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PE -> VC -> Startup -> HF (TMT)

kath123

Hi fellow monkeys! I'm looking for advice. I have 5 years of experience in PE & VC. 4 years PE, 1 year VC (which shut down due to the partners breakup). Now, I am thinking of starting a small e-commerce business selling my own products using ads on social media platforms, SEO etc to drive traffic t...

1
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Retail access to bank macro research?

VolatilitySmile

I want to read i-bank research reports. But I am just a small retail trader. What can I do? Can I charm a salesperson? Or must I really be trading yards of euros to qualify? ...

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Dartmouth Tuck: HF Jobs. Possible?

technicolorbeast

I am in the process of applying to R2 for top MBA programs, specifically Chicago Booth, Columbia, Dartmouth Tuck, and Cornell Johnson. I am confident in my ability to get into Cornell, 50/50 on Tuck, but am 99% sure I will not get into Booth/Columbia. Combination of "weak" GPA and GMAT and non-URM (...

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JD CFA GC Role

mrb5520

Hi all I currently am a funds associate at a v20 firm in ny. I love my work but miss business side of things and am thinking in house at a hedge fund is where I’d like to end up. My thought process is study and take the cfa exams and coupled with work experience I should be able to get a decent in...

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Buy-side credit research to hedge fund?

argtexas

I'm a Senior at a semi-target. Large, public state school. I accepted an offer for a credit research associate analyst position covering high yield bonds. Firm is a top 20 asset manager, based on size / AUM, and I'm very excited. The team has told me there's potential for a promotion to analyst afte...

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How to make a quant internship as a sophomore

atezxelpmoc

I am a "freshman" math major with a 4.0 GPA (likely will stay this high for a while since I am taking similar classes next semester) at a lower tier ivy. I am on track to graduate in 2.5/3 years, so I cannot really intern as a junior. What should I be doing to help set myself up for a solid quant in...

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Management Support Associate Role at Bridgewater

AM-Inquirer

A recruiter recently reached out about the Management Support Associate role at Bridgewater. Before I apply, I want to know more about what the role entails given that I have found little online. Can anyone currently or previously working at BW in that role provide some guidance on what the role a...

1
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Are we in a recession?

traderlife

I looked at market prices today and everything is telling me we are about to enter a recession. Citi is the worst bank but still about earning $7 a year and 8 pe now....all banks doing poorly. Industrials crushed. Apple around 13 pe ex-cash. Rates implying cuts in 18 months. Utilities and healt...

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Distressed Debt Analysis - Moyer

iFindValue

Hey Guys, Anyone have a pdf copy of distressed debt analysis by stephen moyer they'd be willing to send me? I am very interested in the distressed space and want to learn as much as I can. If any are willing, it'd be much appreciated....

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what % of my PnL should I get?

BobbybananamA

if i make for sake of argument $10mm for a fund that has a 2/20 fee structure how much of that should I get paid if i am a junior analyst that works under a senior analyst (e.g., there are 3 tiers in hierarchy)? suppose this a single manager fund. how do the following factors affect the answer? a...

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Direct Lending --> Distressed/Special Situations Investing

iFindValue

Hey guys, I've been interested in distressed / special situations investing for over a year now, did an RX banking internship this last summer and didn't get a return offer, decided to post-pone a year to recruit for summer internships again. Given the accelerated nature of summer recruiting, I was...

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+26
Random Thoughts on the HF Industry

BlueWing

It’s been a while since I posted (sorry @AndyLouis") so I decided to come back with something a little different from my previous posts. I’ll continue the E&F posts at some point, but given recent market conditions I thought this was more appropriate. The below is a compilation of thoughts I’v...

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How are cold calls/Cold Walk ins for Hedge funds?

John-Jacobs1

I know walk ins/calls are frowned upon for IB but wasn't sure if this was the case for HF. I live near a few big name Hedge funds and haven't been able to connect with anyone there so I figured I might as well drop by and hand my resume for a potential off cycle internship. Thoughts?...

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Hedge Fund Recruitment

alfonso.moscato

Hello everyone, I'm a graduate seeking a job in London. For several reasons that don't really matter at the moment, my plan was to start as a trader at an investment bank and then move to some hedge funds after a few years, like many do. Recently, I'm also considering trying to apply to hedge funds...

104
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CQF Certificate

Derrick-Turnbow

Hello, I wanted to receive feedback regrading if the CQF Certificate is respected by Hedge Funds and if it will help in potentially getting foot in the door to work at a Hedge Fund?...

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Do most hedge fund managers come from top MBA?

Juan Carlos-Gonzalez

It seems that every hedge fund manager comes from Wharton, Columbia or HBS. Few have come fron NYU or Chicago Booth. I dont see many that have started from nothing, like entrepeneurs. Why is that? Is being a hedge fund manager the only career that requires an MBA? an if so, why only the top MBA? Bec...

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Learn modeling for credit investing?

llmm

Hi all - Could anyone share resources on how to learn the type of modeling that's done in roles where one is, for example, evaluating a portfolio of NPLs or other credit portfolios? This is an area I'm interested in because it is adjacent to what I do now, but I want to learn to build these kinds o...

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How much does UG GPA matter to make to move?

casualgamer

To make the move from a S&T / ER background and not IB after a few years on the first job, how much do the large hedge funds look at undegrad GPA? Or is it more about what you do on that job you were in?...

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How are you "macro equity" guys doing? (Druckenmiller/Bessent style)

Acidophilus

Wondering if there are any of you analysts/PMs on here who do equities from a macro standpoint like Druckenmiller and Bessent. In a recent interview, SD says the algos are throwing off the signals he used to glean information from about trends. Are you guys finding it incrementally more difficult ...

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Funds that invest in illiquid opportunities

CU04

Hi guys: What are some funds that invest in illiquid opportunities, but are not traditional PE shops please? When they hire, what kind of people do they usually look for? Thanks...

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Buyside Equity Research - Exit Opps to Hedge Fund?

EconomicEquity

Was fortunate to receive a summer analyst offer from an Elite Boutique's Buyside Equity Research team. What are the **chances** of breaking into a top Hedge Fund? If not, what are my options? Thanks a lot!...

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What happened to the ROAR program by JPM?

Vadok

Anyone in the company or with info on that project? I've seen that JPM is searching for Engineers to fill up their ranks for an 'Alternative data platform" (links : https://news.efinancialcareers.com/ch-en/318504/roar-j-p-morgan , https://fintech.stanford.edu/peter-cotton ) But the website is dead...

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Macro Hedge Funds - Career Advice

fundingsecured01

Hi all, I work at one of the better proprietary trading firms doing global macro research. Mostly event driven / special situations. I've been there for a little over 6 years and am realizing that my lack of experience in equities severely limits my opportunities. My goal is to work at a macro /...

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phone interview. Negative sign?

SUMMMERRR

Had a phone interview with a member of team and it was a very quick conversation that lasted 15 minutes about my background. He sounded very neutral, so it's very hard to tell if he's interested or not. At the end, he told me that the interview process is still ongoing and didn't mention when I will...

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'The Alchemy of Finance'

Leerverkauf

Hello there, I've just acquired an another interesting book written by Mr. Soros, 'The Alchemy of Finance'. If any of you have read it (I assume some must have), what did you like about it, is it still relevant and, very importantly, what do you think about the theory of reflexivity in financial mar...

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Buy side suggestions

Merlo97

What kind o tips would you give someone who wants to work in the buy side? For instance in terms of internship/academia . In my particular case, doing a Msc Finance is absolutely necessary (poor undergrad brand). Which kind of master do you suggest to work there (I know, it includes a broad variety...

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Are funds even hiring right now given this environment?

Pizz

Given that numerous funds have shut down this year (Ascend Capital, etc.), and given the horrible performance this year, are there any funds that are hiring for the Analyst position (2+ years after IB, for ex.)? Seems like the industry is struggling, and I imagine there aren't as many spots availabl...

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Leveraging Connections into HF summer Internship

aw.jones

I'm a sophomore in college (you could say "semi-target" for what it's worth). For one of my classes I'm researching the economic benefits of hedge funds. I emailed a handful of school alums in smaller HF's asking for insight on the topic: personal anecdotes, more resources, etc. After having some ba...

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