Silver BananaTopic
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Stock Selection for Case StudyI'm going through my watch-list looking for an appropriate stock to write a case study on that I will attach to cold emails. One stock I am considering because I have owned it for several months and already am familiar with is Micron. Is this a possibility, or will it not be taken seriously because ...
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Company Interview: Squarepoint Capital - Squarepoint CapitalLots of tough questions in statistics, time series, probability, and brain teasers, some are derived from IMO math problems. The interviewer is reluctant to give hints. ...
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Company Interview: Point72 - Point72 AcademyMostly mental math questions that weren't too tricky but it's important to think quickly and in your head. They don't allow you to write anything down. Some behavioral/fit questions were a bit challenging/probing but it's best to answer honestly and engage in a discussion. PM interview was based on ...
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In-house HF Case Studies - EstimatesHi - as most of us go through case studies (both equity and credit) I wanted to discuss how you approach estimates in in-house case studies. Usually, candidates have between 3 to 6 hours depending on the shop to set-up model / thesis / recommendation. One can develop a view on the asset and come ...
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D.E. Shaw Prop Tradingg InternshipDoes anyone have any experience or heard anything about the internship. All I've heard is that it is hard to get a return offer, is this true? ...
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How much does school network help in hedge funds?This is as much out of (morbid) curiosity as anything else to be honest. As someone who skipped bschool and didn't go to one of the 'top' targets I wonder: how much does school network matter for experienced professionals, especially in hedge funds. I'm thinking both undergrad and MBA. Some of wha...
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Illinois Institute Of Technology's Masters in Mathematical Finance programJust how good is IIT's MMF program with regard to the below. I don't have any past experience in Finance, I'm coming in from Tech. 1. Job offers to international students 2. Reputation of the program in the industry - any particular strengths? I have a good quantitative background - no Olympiad stu...
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How to study for hedge fund analyst position without IB background? I'm 31, spent 10 years as an entrepreneur - 2 companies: 1st was an IT firm, sold a few years ago. Second is a bio-energy startup that has several years of university r&d ahead without my input. I don't have a background in finance outside of my own companies' models and books, but have a good NYC n...
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Where can I get investing experience aside from HFs?Im a sophomore BBA student at Ross (Michigan) and I want to intern somewhere this summer that'll give me experience with investing. I've been trading since I was in middle school but now I want to learn the more conventional Wall St side of things. I'm applying to HF internships but as you guys know...
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Company Interview: Jane Street Capital - Quantitative tradingMost of the questions were brainteasers. At later stages, the questions got harder. In the third interview I had to answer a hard brainteaser/combinatorics question. You have 1000 bottles of liquid, one of which contains poison. You have an endless amount of mice you can use (mice turn blue if they ...
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In my country there's a subject in university called "mathematical engineering" is it apropriate for working in hedge funds? Here I have the link of information of the career in English: http://ingenieria.uchile.cl/english-version/departments/97324/mathematical-engineering I don't know if I should study pure mathematics or "mathematical engineering", which is a degree that doesn't exist in USA. So do you think it is worth...
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Company Interview: Mariner Investment Group - Credit AnalystThe person asking accounting questions. Being asked accounting questions and it's true. The position states they want any business major, but this is heavy on accounting (with finance being a must obviously). Don't remember the details, but I remember being asked something like this: if company XYZ ...
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Sourcing Distressed Opportunities I watched an interview of George Schultze who says his company maintains a database of companies that they track into distress. In one post from Distressed Debt Investing he describes poring over any and all bankruptcy dockets 1) out of interest but 2) as a means of potentially uncovering a worthw...
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Am i competitive for a HF internship next Summer?Hi, I'm a sophomore at a top 30(but not target) university in America studying Mathematical Economics and Computer Science. I have done 3 internships before, two in software engineering and one as a quantitative trading analyst. None of these internships were at big-name companies/firms, so i'm not...
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Quant Trader/Researcher in HF. Struggling with my future-- I have decided what to do. I forgot the fact that I started in this industry knowing that it will be hard. i didn't come this far to only come this far.. best of luck to you guys all. let me know if there is anything i could help with multi-manager platform's culture, pay, fit, etc... ...
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jane street quant tradinghi, I'm a college sophomore. I recently applied to Jane Street for a summer internship. I had applied for a quant research internship but someone from jsc got back to me saying they want to interview me for quant trading internship. Apparently I have to take a first round maths test consisting of pr...
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Getting Good at Primary Research: Expert Calls and "Alternative Data"What do you think the best materials (books, blog posts, conferences, resources) are on how to be very good at (i) expert calls and (ii) using "alternative data"? (i) Expert calls: I am looking for an in depth discussion of the best questions to ask and how to "get more" out of questions I ask on ...
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How to stand out at hedge fund jobs? What are ways of standing out to your PM? What causes analysts to get fired? Other than just "have good ideas", what advice would you give on doing well in your first few years at a hedge fund? I work at a highly concentrated fundamentals focused fund. ...
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IR Salary at Hedge Funds What are the salary levels for IR Analysts/Associates/Directors/etc at Hedge Funds? Let's say Hedge Funds with over 1B AUM in major cities like NYC, LA, SF, etc...
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How to transition from Fund accounting(B.O) to H.F. (F.O)I am currently based out of India. will be joining SSC GlobeOP (Mumbai) FA team -plz suggest career path in order to shift to H.F (F.O). P.S - I have made a plan which involves 1. Networking with PB (My profile at SSC involves interacting with them for confirmation) 2. Clear CFA L-1 June'18 and th...
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PM PositionThank you in Advance for any help or comments! i am equity trader and correct on my trading more the 65% of the time .have over 10 years experience but no previous HF jobs. and looking for entry to HF PM position . is it possible to get at least an interview ? ...
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Is the grass always greener?Mid-level PE considering pursuing long/short equity positions. Curious to hear from those who have made the jump: is the grass always greener? How has your experience compared to PE junior/mid role?...
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GSA capital partners internshiphi, I'm a college sophomore. I had applied to gsa capital partners for a 2018 summer internships (I filled out the career thing on their website). A couple of days later someone from the firm reached out to me asking about the location preference. Followed by an email for an interview. The email sai...
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Elite Boutique v. Mid Size HF v. MegafundsIn the vein of many prior threads, I have a decision problem going into next summer for my rising senior summer internship. I currently have an offer from an extremely well-run credit fund that is fairly large, has a long track record, and is growing. (Unnamed to preserve some measure of anonymity) ...
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Company Interview: Protocol Capital Management - InternshipWhat separates you from all the other applicants in terms of skills, mindset, and/or attitude? (Due to my lack of finance background in my work experience and classroom experience) Why should we take someone who lacks previous experience, and how do you plan to make up for it? Explain why you thin...
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Company Interview: Bridgewater - analystOne unexpected thing is that the interviewer sometimes changes or restates the question as the process goes on which can be confusing. Furthermore, it is unclear what they look for from the participants and it sometimes becomes awkward knowing how much to talk, how to act, when to ask clarifying que...
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Skills to develop in M&A for HF?Could anyone, perhaps someone working within the HF industry, provide some insight on what skills an M&A analyst should really be developing to get into a HF after a few years? i.e. what parts of M&A are relevant for a HF? I would assume an LBO is less relevant to HF, when compared to PE for exampl...
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Company Interview: Weiss Asset Management - Operations AnalystI got a message from a staffing agency about a technical phone interview with the company. The interview is essentially a test to see your analytical and problem solving skills. There were a couple of cases that involved very simple maths and basic knowledge on options, and a couple of cases that in...
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GPA cutoff for hedge fundsWhat would the GPA cutoff be for larger hedge funds (AUM > $1.0bn) from a semi-target top 15 school? Currently working at a MM bank....
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Cold Emailed VP at Hedge Fund for an Info InterviewI sent an email to alumni who is a VP at a decent sized hedge fund/Asset Management company (7bn) with the intent of setting up an 'informational interview'. I have had a few info interviews with analysts and associates, but never with a VP. Should I expect anything different? Should I do anything d...
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Which job should I take to land a HF role?Trying to decide between two job offers. I'd like to work in a quantitative role on the buy-side but not sure which of these would help more in getting there: Offer 1: well-known consulting firm. My job would entail doing quantitative modeling in Python/R (time series analysis, ANOVA, etc), and it ...
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Why is it bad to join a hedge fund right out of college instead going the 2 years and out route?Title is everything, I have seen countless of threads of people asking for advice to join hedge funds right out of undergrad without any IB experience but to get shut down saying its a completely bad choice....
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How to name a hedge fundIn case anyone is looking to start a new hedge fund and is still struggling with finding a great name, you're welcome: [click here](http://www.hedgefundnamegenerator.com)...
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Contrarian Capital ManagementDoes anyone have any info on the culture/reputation of this firm? Haven't been able to dig up anything on WSO....
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Apex Capital Holdings interview in officeI have a full-time interview with them coming up. This is my first prop shop interview and I don't know anyone who has interviewed with them before. Anyone have any sights of what to expect?...
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HF Interview Stock Pitch: what the market thinks?I've been reading through some HF interview guides and sample stock pitches, and one topic keeps popping up that I'm having some trouble with: How do you know how the "market" is underwriting their assumptions from a valuation standpoint? For example, the market thinks Company A's North America se...
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Distressed / Special Sits HF view on background?Hi all, seeking advice from hiring managers / PMs who are currently in distressed / special situations funds. Recruiters too. My background - Based in Asia (think HK / Singapore), college in Asia, started in PWM as a multi-asset class investment analyst, transitioned to IBD after 2 years with an in...
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Element Capital Management?I recently obtained an interview with a hedge fund called Element Capital Management in NYC for a summer internship position. From what I understand its a macro fund, mostly quantitative, and around 4 billion AUM. Would appreciate it if anyone has any more information on this fund, i.e. culture, peo...
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Point72 Wonderlic TestI recently submitted my Wonderlic online assessment for Point72. It has been about a week and I have not heard anything. I assume they have cut me at this point, but does anyone have experience and knows how long this usually takes?...
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Consulting Cases Value Add to ResearchFor those that have worked in the industry a meaningful number of years, do you feel that studying management consulting cases has enhanced the value of your company analysis?...
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Cryptocurrency has potential to cause crash similar to 2008aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa...
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Please explain prop trading deals to me...I am used to hedge fund style payouts (2% and 20% etc), and am trying to understand a prop trading deal that I have been told is pretty typical. The deal is you put up some Minimum Trader Equity (MTE), and the firm puts up 9x your capital. They then lever that up 6 times. The trader then gets 33% o...
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Investment Model Results - Any Good?Hi Everyone, I'm new to WSO, but I've been trading and modeling for few years. I've developed a new model that trades equity index futures, commodity futures, and a bond ETF. Assuming a 100K investment, I'm getting these results: YEAR...............................10 YEARS.....7 YEARS........ 5 ...
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MS Economics or MS Data Science / technical skills & experience needed for macro fundMy Bachelor's is in economics and my background is in equity research with about a year in crude oil tankers. I genuinely enjoy macroeconomics and I'd like to join a macro fund (eventually). I've been accepted to both a MS Econ and a MS Data Science. **Which is a better route to eventually working...
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Do PMs put their track record on their LinkedIn Hello WSO, I know this might rub people the wrong way. But hey, I'm in the mood of starting this Fri with a bang. I've browsed through thousands of LinkedIns of PMs and so far, I've encountered only three that explicitly stated their Sharpe ratio, AUM and trading period. My question is why is it ...
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How do I transition from prop trading to doing Quant strategies for a HF?I'm looking to transition from prop trading (wholesale power) to developing and implementing strategies for a hedgefund / large bank. I've written a masters thesis and working on a line of papers (first one already out) on using text mining and ML algorithms to predict commodity prices. Is there a b...
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Citadel Surveyor Capital Business Analyst PositionHi all, I saw this opening at Citadel. It's not a core function as it's not a trading / research role. It seems more of a corporate development / internal consulting role. I couldn't find much information about it but wanted to see what the WSO consensus would be for a role with these responsibilit...
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Point72 modeling testAll, does anyone have info on the P72 modeling test? It's supposed to be half an hour. This is for L/S equities and for an experienced role (i.e. equity analyst). Anything is much appreciated... ...
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FOF PM Analyst offer vs DCM analyst offer - Advice needed!!Currently, I have 2 offers, one is from a large FoHF (>10b AUM) while another is from a small boutique IB in their DCM division. I am leaning more towards the FoHF offer due to its reputation in the industry. Some of my friends advised me to take up the DCM offer and move on to a BB later. However, ...
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I am a Hedge Fund recruiter AMAI work with equity L/s arms of the multi-managers and single managers. A little about me: I don't come from typical financial services major nor have I ever wanted to be an IP myself. All the same, I love my job and don't wouldn't trade it or my firm for the world. Happy to answer some questions as ...
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Making a Move: Retail Banking to Investor RelationsI'm an internal wholesaler who is looking to make a move into an investor relations role. I have the sales background along with other retail investment banking experience. I was thinking that this sort of move might be a good idea and if in the right setting prove to be profitable. I have started ...
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Company Interview: Blockhouse Capital - InterThere really weren't any unexpected questions as they were mostly fit, like: Tell me about yourself. What has been your favorite course in university? What is your greatest weakness? What topics has your coursework covered? Why Blockhouse Capital? Overall, all the questions were made more difficult...
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Undergrad Advice for FinancePrinceton ORFE vs. Econ? Any thoughts on which of these degrees is better for a career in finance? Which would you choose?...
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How soon can one switch jobs?I graduated this past May and started work. I realize my current HF job is definitely not what I want to do. It's been just over 5 weeks since I started. How soon is it acceptable to reach out to other firms and try to find a different job? What's the best move for me to try? Should I reach out to ...
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Australian Reaching NYC HFsHi all, First time poster, so please forgive me for any poor WSO etiquette. Basically I'm an Australian undergraduate, undertaking a Bachelor of Commerce with coursework majors in Accounting and Finance. My university is not necessarily a 'target uni', but has seen a fair few ambitious and hungry...
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Company Interview: Bridgewater - Bridgewater Associates InternThey did not want to use the organ market question; they went for 3 questions in the hour group interview. The first question that someone brought was "should euthanasia of humans be legalized in the United States?" They probed about whether it should be legal for just those with chronic illnesses...
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Biotech Stock PitchHi all, Would anyone be kind enough PM me a biotech stock pitch? My goal here is to get a better understanding of what should/should not be included in the pitch, and understand the valuation method used. Thanks! ...
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What type of hedge funds do you see succeeding in the future?There's been a lot of discussion about typical L/S being crowded out as more investors move towards passive investing. So, this brings the question - what strategies in the hedge fund world do you see succeeding in the future? I think we can all agree quants will be very successful, but what about m...
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Where to find Preqin Hedge Fund Report?Looking for either 2016 or 2017 Preqin Global Hedge Fund Report. Any help or a point in the right direction would be much appreciated. Thank you in advance for anyone that helps out here....
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Switching HF strategy - seeking adviceHi: First of all, as a silent reader I have to say that this forum is a very helpful tool. I am writing here to please ask for your opinion. After 3 years on the sell-side (IBD) I moved on to a large hedge fund to invest in equities. I have been doing the same strategy for 3 years, but want to cha...
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Do You Use the 13F Filings?The 13F filings are mandatory filings required by the SEC from institutional investment managers with holdings of more than $100M. As you may know they show a current snapshot of the current securities held by these managers. They can be a good source of investment ideas and can serve as a barometer...
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downloading large amounts of historical option chain data from OptionMetrics (??)Long story short: I have some ideas for some research that requires a bunch of historical option data - but I have no data access. I have a friend who is a PhD candidate and his school subscribes to OptionMetrics. I'm going to be visiting his campus and hope to pull as much data as possible ove...
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Company Interview: Bridgewater - Technology AssociateHow would you go about creating an algorithm to play Battleship. This was pretty open ended but the interviewer went over my solution and we iteratively improved it. The culture questions were about times when you had conflicts with peers and how you resolved them. Nothing too crazy or unexpected ab...
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Company Interview: Two Sigma Investments - Software Engineering Intern1) Behavioral Question: What previous challenges how you faced? 2) Coding Question: Write code to determine if a given number is a power of 4. Is it possible to do this in constant time (aka O(1) time)? 3) Theoretical CS Question: What is the benefit of returning a value of a Boolean expression dire...
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Why "reverse commute"?Why is it common for people working at Greenwich Hedge Funds to live in Manhattan? I would think it would be more desirable to just live in Greenwich also given the convenience, prestige (high concentration of wealth), and more spacious (+ slightly less expensive) apartment options. ...
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Honest opinion on career pathHi everyone! I'm 2 years out of college and would appreciate your thoughts on my career path thus far, no matter what they are. I have an undergrad in finance. I also started an ecommerce business that has grossed close to $2MM per year, and have cashed out partially to focus on making it on Wall...
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Anyone heard of Atalaya? $2.5B distressed debt fundHas anyone heard of Atalaya Capital Management? Looks like a hedge fund/pe hybrid that raises closed-ended funds and invests in distressed credit and originates debt too. Curious what the reputation is?...
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Company Interview: Point72 - 2018 Full Time AnalystWhat is your favorite publicly traded stock and why? Mention industry, revenue drivers, business model, and key risks? This was the the only question on the hireview. ...
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African-American hedge fund managersFor all of the hedge fund guys out there, can you guys tell me why do you think their are almost no black or African Americans in the hedge fund industry; not to mention any hedge fund managers at all? Is this an industry that blacks just do not apply to? Thanks. ...
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looking for a partner, hedge fundHey im looking for a partner for a start up fund which will be a incubator for about two years. I am based in London and will be looking to meet up for a coffee. Requirements: individual trader who has experience with derivatives options, macro long short. Trading or has the capital to do so. Would...
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Raising seed capitalWe are a boutique sell side research firm. We have a track record of eleven years. However, we do not pull the trigger with respect to covering the stocks we propose - our hedge fund clients do. However, we do generate ideas, write research reports telling them when they need to short or cover. Unfo...
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What does it take for a startup HF to succeed?Besides obviously having the knowledge, passion, etc. for the markets and trading, what aspects do you think a startup HF needs to become big? Think Ken Griffin with his early funds in his dorm. Is it capital?...
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If you want to start a Hedge FundA friend of mine who works for a hedge fund incubator in London, they currently have around $500 mil AUM. They can set you up with compliance and all the tools needed, they have a in house accounting team, lawyers and so on. They provide you with the right contracts. But its not like you going to s...
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Capital Introduction to small hedge fund start upsI am introducing capital allocation to small hedge fund start ups. You will need to show me a 12 months track record, preferred the fund is on a entity i.e LLC We are based in London, fee split will be negotiated once you are qualified to get investments. Larger the account size the better. mess...
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Company Interview: Point72 - Point72 AcademyThere were a lot of behavioral questions thrown my way when I thought the interview would be technical. We also were asked to do a one week long case study of a company. We were to create an excel model for that company and do a 3 page writeup. This was the fun part of the interview though, because ...
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Point72 Superday Process?Hi all, I have a superday (5+ interviews) next week with Point72 to join one of their teams as an analyst. For those who have gone through the process before, do you have any insight or advice as I continue to prepare? I've done the modeling test, HR screen, take-home case study, etc. I've spent th...
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HF vs. BB IBD What are people's thoughts on Point72's academy program and how it stacks up to other HF programs as well as top BB IBD programs? Any insight would be much appreciated! ...
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First Job out of Undergrad (Quant vs Banking for Later in Career)Hi Guys, I'm a senior at a non-target school who happened to be lucky enough to get into a well known (as in top 50) quant hedge fund as an investment analyst. However, my ultimate goal would be to work at a more fundamental investment firm later on in my career and I'm concerned this will get me ...
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Company Interview: Other - Arena Investors1. How would you design a research project to determine the profitability on high yield bonds that have a two year maturity and YTM of 20%? 2. What are the pros and cons of Trump's economic sanctions on China? Each of these questions were qualitative and quantitative. They required the candidate, m...
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Undergrad straight to HF viable?I know the typical career track to HFs involves a stint in banking, but I want to hear from anybody who did it straight out of undergrad. What type of background did you have & any advice to someone trying to do it? A little background on me: I'm a rising junior, currently have around a year of ful...
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Creating a Returns / Bench Marking for your PAHi Guys,, Wondering if any of you have built an analysis to benchmark your personal investment account to major indices, etc. I naturally get the concept however, I'm having a hard time approaching it as I have increased and decreased cash from the account over time as needed. Thus, my returns are ...
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HF vs. IB offer?I have received two full time offers and am struggling between the two: * Offer 1: elite boutique investment bank. Interned there this summer and had a great time * Offer 2: elite hedge fund Any advice as to what I should think about when choosing between the two? I really like both places....
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Looking to connect with professionals in LondonHi all, I am an Investment Banking Analyst with an engineering background and looking to connect and chat with professionals in the HF space, my knowledge about the industry is limited and I'd like to learn more about the different types of funds/ strategies, etc. I've went through many forums and ...

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