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+17
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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+7
Leaving a single manager to start a book at a platform

bulge4lyf

Has anyone made the switch from being an analyst at a single manager to being a PM on any of the platforms? As background, I've been at a single manager for 4 years and have covered my sector for a total of 8 years. I'm making ok but not great money for someone my level (500-750K)...

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Life as a CLO Analyst + Career Progression

ebit_dab

Can anyone provide some information on the "day in the life" of a High Yield CLO Analyst, particularly for a more junior investment professional (2-5 years exp). Looking to learn more about the underwriting process, detail on credit memos (i.e., how detailed they are), hours and comp....

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+7
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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+2
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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+1
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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+1
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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+1
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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+3
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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+1
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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+2
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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+2
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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+3
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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+3
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...

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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...

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+2
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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+3
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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+2
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...

1
+1
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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+4
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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+3
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...

1
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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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Sears Shitshow

m_1

Anyone else following this? Pretty interesting. How do you guys think it will play out from here? https://business.financialpost.com/news/retail-marketing/eddie-lamperts-next-play-inside-the-hedge-fund-war-at-sears...

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AMA: I worked as a CTO at prop-shop doing high frequency trading (HFT)

hft1111

Hello everybody! I've been very lucky to end up doing what I'm doing My expertise is building low latency trading systems for HFT strategies. I led the software development to do high-frequency trading, executing several different strategies. Nowadays, I started my own consulting firm and working on...

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Interview with the department head, how should I prepare?

cheesecakethebest

I was referred by my friend for a summer intern at a hedge fund. She is in the same department and after she sent my resume to HR, HR emailed me to do a phone screen with the department head. I’m very nervous because I initially expected to have phone screen with HR but turned out to be the depart...

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Advice for Green L/S Analyst with M&A Background

Bob Loblaws Law Blog

I recently joined a smaller (...

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Biotech Investing Pipeline Valuation

analyzer

I am new to biotech investing. How does one normally value the pipeline of drugs for a company? The company's investor presentation gives you the drug candidates in the pipeline, but how do you know which of their candidates are more valuable? How do you begin to figure this out?...

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Reaching Out to Recruiters/Headhunters

BananaHoarder

I understand that it is still quite early to be considering this, but I was curious about the process of reaching out to headhunters early on. I'm a first year analyst at a BB in ER, and was wondering if it would be a good idea to reach out to/network with some recruiters just to touch base and get ...

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How to Switch from Prop to HF

scratchingmyscalp

I'm thinking of trying to move from a prop shop to HF (or even something else with less ups and downs as far as pay), and would like to start a conversation about some ways to approach this. I'm not necessarily in a rush as this year has been solid, but...I'm always curious and would love anyone's ...

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Goldman SSG Upcoming Interview

INeedASpaDay

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An attorney in the DC Area

TheorPhysicist

Hello, just a quick question. Can anybody recommend a descent corporate attorney in the DC Area with the knowledge of Delaware and Virginia laws? It seems that it is time to let our attorney take a walk. Thank you. ...

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Breaking into the buyside from a non-target - You can do it

ChimpMaster

I wanted to share my experience receiving a full-time buyside research offer from a firm with 30 - 40bn AUM to both help and encourage students seeking to get into buy/sell-side equity research out of undergrad. I am the first student from my school to be hired into the firm from undergrad. I go to ...

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Top Hedge Funds in the Energy Sphere

amda279

I am a executive at a major energy corporation considering making a transition into the energy hedge fund space. I understand that due to the nature of the industry, hedge funds operating/specializing in the traditional energy (oil and gas) sector prefer hiring experienced professionals from the ene...

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Value Investing Club – Membership Offering

TudorM

**Are you an active value-oriented investor looking to join a group of like-minded individuals building an investment track record? This may be the right place for you.** We are a small group of young investment professionals that consider launching a value investing fund in the short to medium ter...

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