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+7
Struggling to provide a 'valid' reference

Piigs fly

I've received a verbal offer a week ago from a tech startup. I'm now in the reference check stage. HR initially asked me for two references, but has then been constantly following-up with me and has asked me for a total of five references. The problem that they're facing is...

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+5
ROE tracking the market

PacioliBoss

Here’s a simple question for all of you investing hotshots: Why don’t market returns track ROE? In other words, if ROE represents the return on the common shareholders’ equity in a particular company, then shouldn’t the market (over time) compound at the weighted average of all...

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+3
Hedge Funds requiring IB experience... why?

datakid97

Please, I just can't wrap my head around it. I'm sure there is some semi-rational reason why a hedge fund would hire an investment banker but I just don't see it. I would say that if you're in the business of attracting actual talent you might as well go as far away as...

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Credit Ratings of Small-cap and Pennystock Companies

laskinsteven

Hey guys, I have an algorithm that automatically calculates the credit ratings of publicly traded companies, and covers thousands of small-cap and pennystock companies on NASDAQ and OTC. The system currently rates over 10,000 US companies with continuous quarterly updates - you can see a trend line ...

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+1
SRI Hedge Funds

PoorCharlie

Does anybody know of any SRI/ESG/Impact Investing Hedge Funds in the U.S. that are looking to hire analysts or even interns? I have a pitch prepared but a very short list of funds to approach. ...

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+5
Crazy D.E. Shaw phone interview question -- Help!

quantOBSESSED1

I had a first round phone interview for a quant trader position with D.E. Shaw today, and got stumped on what seems like a pretty simple probability question (see below). Do any of you know how to figure it out? I think it deals with combinations. There are n socks in a closet, and 3 of them are pu...

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+1
Econometric knowledge in fundamentals?

Hzkangarooo

Hi WSOers, I've heard about the trend that fundamental funds are shifting towards adding quant into their tool box. Do you guys think in the future quant skills would be needed in fundamental funds as well? I'm currently a finance undergrad planning to take econometric courses. So I guess my true q...

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+1
What is the best way to get into an NYC hedge fund from the UK

zk15067

What do you guys think the best way to get into an NYC hedge fund? Should I try and get into investment banking in London and then get recruited for a New York role or do you think it’s better to a join a smaller hedge fund out of undergrad and then apply to New York positions ...

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+8
Dealing with PM (equities) who is trying to limit your progress

wasper710

Hi Guys, I'm currently at a L/S equity fund, not too big, but in the 50-100M USD range. The thing is, I've been at this shop for less than a year, but I've discovered that the PM is incredibly difficult to work with. In that he is a poor people manager and actually goes to great lengths to keep anal...

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Hedge Fund Manager Selection

png1

Hey guys, I was wondering whether someone could shed some light on the selection process of hedge fund managers? As I'm about to apply for an entry-level position at an alternative asset manager in Europe, I'm particularly interested in the qualitative and quantitative aspects of the selection proc...

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Do Hedge Funds Require a Masters Degree?

BDW

As a college freshman who is interested in investment banking and hedge funds, I am wondering if I should plan to attend grad school directly after my undergrad, after several years of working for an investment bank, or even if I should plan to go to grad school at all? I enjoy school and it seems t...

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Sequoia Heritage

Patches

Anybody heard about it? I'm having trouble finding anything. It appears to be separate from the primary fund and more of a FoF that may do some direct investing?...

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Can you network into a HFT firm?

John-Jacobs1

Just was curious if it would be possible to network into a place like Virtu or if it's a lost cause because you need the raw CS/stats/engineering background?...

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Master Finance Essay : Quantitative/Investment/Eco

FakirMarz

Hi guys, I hope you're all having a pleasant weekend. Being in the last year of my Master's degree in Finance, I have to do the famous essay that we all have to do to graduate. For lack of inspiration, I would need a little help for an 80/90 page essay topic (relatively short essay as you see) I ...

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Help me think through an opportunity

angrybanana

Hi, I have an opportunity to join a fund in London that is an activist (not so hostile) investor in UK and European small to mid-cap companies, and in most cases takes them private. The role is an analyst and I have around 5 years of experience in the HF industry and a total of 10 years of work ex...

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Best Hedge Funds in the Nordic Regions

bcrew13

Moving to the Nordic Regions and pursuing HF, looking to see if anyone knows the layout of any HF in the Nordic regions? ...

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0
Shotspotter

dyjokoniak

Anyone heard of this company / thoughts? Basically a tech start up which sets up listening equipment around dangerous parts of US cities then alerts police when shots are fired , then uses AI to build a map of where/when violence occurs. Has track record of increasing successful arrests of violent ...

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Breaking Into a Hedge Fund with a Background in Pharmaceuticals

TheAlchemist101

Hello all, I am in the process of completing a doctorate degree in pharmacy (PharmD) as I plan how best to leverage my non-conventional background in the hedge fund industry. As an active trader with a fairly diverse portfolio, I have always had a keen interest in the markets. Given my healthcare ...

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Dealing with the emotional ups and downs of the PM

HFDude

Any tips on dealing with this? Also, I'm having a hard time dealing with the PM forcing me to close positions that he himself does not fully understand, though these tend to be my highest conviction, best risk/reward, and so far, best money making ideas. I can feel myself building passive-aggressi...

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Biotech/Pharma Model

LMidMarket

Hi WSO Community, Does anybody have a model of a biotech company they can share with me? This would be very helpful, in addition, does anyone have suggestions regarding good primers or books on biotech investing? Thanks guys....

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College major for a job at global macro fund?

hedgefundwannabe

I'm a high schooler, and I've been looking into careers. I think working at a global macro firm would be my ideal career, as I'm interested in econ, finance, international relations, etc. So my question is, what should my education career look like? Double major in econ and international relations...

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Hedge Fund at trading desk

Nijikon

Hi Wall Street Oasis, For a trader at a sell-side desk, able to take prop positions, at what point would he be considered a PM-equivalent at a hedge fund? Specifically, what are your thoughts on: 1. He can prop trade max size US$100mio, say US$2mio or 2% annual SL. So can he call himself a PM with...

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Healthcare/biotech shops?

Rslph

I was wondering which are the top hedge funds that specialize in (or at least participate in) biotech. I know venbio and perceptive advisors are definitely among them, but who are some other reputable names in biotech? And bonus question, how do phd's with biotech background typically get into thes...

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How hedged are market neutral funds?

coffeebreak

So I'm wondering how much hedging do market neutral L/S funds actually do? I mean, there are some funds that claim to be market neutral but they seem to hold a basket of 10-20 longs and balance that out with some shorts (not necessarily with considerations to beta). Then there's the other extrem...

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Moving from Quant researcher to Quant PM

CambridgeGuy1986

Hi. I have been working at a large Quant hedge fund as a researcher for about 5 years. My next big target is to move into a Quant PM role. At my current shop this is basically impossible, since this is large fund with only a few PMs, who all have more than 15 years experience in the industry. Care...

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Summer Interns offers London: Barclays S&T vs Lazard IB. What is best for exit opps towards hedge funds?

aozyagmurlu

Hey! I have two summer offers in London. The Lazard’s odder is a mixture of M&A and restructuring (prominent distressed HF exit?) while the Barclays’ offer is two rotations in two desks. The matching process for the desks is quite mysterious, you get to express preferences and so do the desks ba...

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Portfolio Construction VS Research Analyst

Ivysaur

I am currently interviewing with a Mega Hedge Fund (macro driven). I am relatively new to the industry, so I wanted the get some inputs: between the portfolio construction team (covers all asset classes) and macro research team (will be assigned to a specific group such as fixed income, equity etc....

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What to do to break into quant funds

Hzkangarooo

Hey chimps, monkeys, humanoids, I'm a sophomore studying finance at a target school. I've recently decided to pursue a quant fund career. Any suggestions as to what skills are more important right now for me to acquire to land an internship? How about for fundamental funds? Thanks. Hk...

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+17
Is there a future for non-quant hedge funds?

3x0.25

I'm a banking analyst and I did an internship in PE and I liked it but I think there's more opportunity in the public markets and I want to have autonomy (and high earning potential) earlier in my career than post-MBA PE. From what I've read on VIC I also slightly prefer the hedge fund stock picking...

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Do Hedge Funds like Citadel, Two Sigma, AQR etc. hire people with Mechanical Engineering degree as Quantitative Researchers?

IOnlyCleanHere

I have a Master's degree in Mechanical Engineering. I've had some courses which included probability and statistics, can code a bit with Matlab and have some experience with simulation software. Is it a cut-off criterium or Quantitative Researcher application when someone comes from a background wh...

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Breaking into HF with B.S. and M.D. degrees

CodeMonkey0

Hi, this is my first time posting on this forum, I would greatly appreciate all your valuable inputs. To briefly talk you through my C.V., I was fortunate to have graduated from a top US engineering undergraduate program with Summa Cum Laude with GPA of 3.95. After I graduated, I finished MS in com...

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Applying to New Job With Less Than a Year of Experience

joshblack

Hey guys, I recently worked at a hedge fund for less than a year but left in search of a firm with a different culture (and personal reasons) and am in the process of applying to ib/fund jobs. Will listing less than 1 year of experience kill my chances of finding a job? Should I just check off "cur...

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Opportunistic credit HF guys - what would impress you?

lychee1989

Hi everyone: I came from a non-traditional background and would love to hear your views. After undergrad, instead of banking, I started out doing macro research/investing, then credit and equities investing. They are all at Tier 1.5 ish funds. I have the chance to speak with someone at a very go...

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Mocha interview - Hedge Fund

simsone

Hi all ! i've got a competence basis interview for an hedge fund in Honk Kong. They use Mocha interview. Does anyone know how it works / differences from SHL and same sort of tests? Thanks a lot...

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Credit Default Swaps for Sovereign Debt

vikkumar

I am a student and have recently started learning about CDS for sovereign bonds in emerging markets and was wondering what are the biggest events that affect its pricing. I am particularly interested in CDS's for countries that are serial debt defaulters in Latin America and Africa. I know the Wor...

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Under the Radar Large Hedge Funds?

John-Jacobs1

Just was curious if there was a list of lesser known larger (well performing?) hedge funds like Cantillon, Autonomy, and Element....

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Realistic Exit Opps

HANFLY

What are realistic chances at a HF for a VP at a reputable investment bank in NY? Not interested in large funds, more interested in smaller, single manager L/S funds. And how do the odds stack up against other roles (growth equity, VC, etc.). Currently looking to exit, so any advice/suggestions ar...

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indus capital partners internship

ffffml

hi, does anybody know about the process at indus capital partners for an internship? I got an email about setting up a phone interview with someone in hr. Would be helpful to know any type of questions I should expect, what I should prepare for, etc. This fund focuses on asian, european and emergin...

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Redwood Capital Management??

John-Jacobs1

I've heard this is a prestigious/well known distressed/spec sits fund but I cannot find any info on it. All I know is that it's located in NJ...

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moving from strategy role at a large tech company to a quant strategy role at a large fund

reddevil1493

I'm in the process of getting a formal offer for a Quant Strategy role at a mega fund in New York and am currently at a large tech company in the Bay area in their Corporate Strategy team. I've worked for 3.5-4 years now since graduating in 2015. What are some things I should be wary of with regar...

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Updated thoughts on Tennenbaum Capital Partners?

rayzee

Anyone have any updated information on Tennenbaum Capital Partners? I know they recently got acquired by BlackRock.... The stuff in search is several years old so I wanted a more up to date view. ...

1
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Computer Science undergrad having difficulties getting quant internship- what's next?

pohjie.pj

Hi everyone! I am well aware that there is plentiful of similar posts on this forum asking about computer science majors who wish to become quants- however, my situation is a little different so I hope you guys can spare me the patience in answering the questions. I'm a Computer Science major from ...

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RenutraPro Garcinia Reviews–

buphobiakz

As the heftiness extend builds, the accessibility of eating regimen and weight reduction supplements additionally increments! Albeit, all these fat consuming enhancements offer potential advantages by shedding pounds of fat, there are likewise a few sorts of symptoms. Along these lines, it's your du...

1
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Asness vs Harding

abuddingmonkey

I’m exploring quant hedge funds and came across a video of David Harding demonstrating that he’s not much of a Fama fan. On the other hand Asness is. Both lead very successful quant funds, so I was wondering what that difference is about?...

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HF Free time thesis

BobbyA

Hi everyone, I have literally 4 months to lose and I want to use this (free)time to do a thesis, which will be useful for me + when I graduate from my master's degree (Mifin) for job search in industry (Hedge funds). Do you have any interesting topics/subjects that you would like to explore furthe...

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GS SSG Multi Strategy Investing

MMAM

Hi guys - I was wondering if anyone knows anything about Goldman's SSG Multi Strategy Investing arm? There is quite a bit of information on WSO pertaining to other less liquid arms (asset investing, private capital) however MSI has not been discussed. It would be interesting to know what strategies ...

4
+1
How long do most postings stay on?

chips_ahoy

Hi guys: Anyone has any insights on how long a job posting would usually stay posted please? I saw some on LinkedIn that have been posted for 3-4 weeks, wondering if it's still worth applying to (they still show up as open), or is it too late? Appreciate your insights!...

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Inverted Yield Curve Hedging?

creditrevolver

Was asked a question in a meeting earlier. Curious as to anyone's answers to this. In a fixed income portfolio, if a majority of your bonds have yield curve exposure to the 2Y and 30Y treasury, what are some ways to hedge against an inverted yield curve? Stay away from corporates and invest in long...

2
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Is it OK to reach out to traders instead of investment professionals at a hedge fund if i'm looking for an investments role?

John-Jacobs1

Just was curious, if I should reach out to traders as well as people in investment roles at HF's. Goal is something in investments and not trading but I have a better connection/more in common with people in trading (background wise). ...

4
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Being direct with boss about moving to FO

Casey_Schmidt12

I work at a large HF (100-200 ppl, >15bn AUM) in the MO and am less then 2 years out of UG (non target / still well known name) . I took this job after not being able to to get FO offers in banks, even with quality internships, with the hopes of either moving internally or externally after getting t...

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Likelihood of getting into Hedge Fund with no experience in finance or college degree?

van_1

Hey everyone. Long story short, I met a hedge fund manager (joe) when I was 18 at a restaurant in NYC through a mutual friend. Regular dinner as anyone else would have. There was no agenda, just hanging out/having dinner/talking shit. This friend of mine (joe2) owned a massive media company. At the...

6
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Finally landed an HF internship, how to make most out of it now

IlliniStrikesBack

0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0998jmopb jlkmnjkm ,njkm ,jnkm ,nj mk,jnkm ,nj m, nkm,j km, nkm,...

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D.E. Shaw internship application rejection weird phrasing.

mikaelsohan2

Hi WSO, I applied to D.E. Shaw's equity research analyst internship, and they replied with this: "We have been unable to identify an ideal match between your particular background and experience and our current needs. However, we will keep your resume in our files on the chance that a suitable po...

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Baker Brothers

Discosteve

Anyone know anything about Baker Brothers? Culture, compensation, etc. Interested to hear thoughts about them....

2
+13
Citadel Global Equities (pay, culture, career path, lifestyle)

BobbybananamA

I had a number of questions about Citadel's global equities team because I recently advanced pretty far in the process there. There is a surprising lack of information on the fund given its overall influence on the finance world more broadly. Feel free to comment on any of the questions below so we ...

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Theoretical Questions Regarding Value Investing

128

Dear all, In a recent panel meeting a guest speaker (L/S investor) at my university stated the questions below: (1) How can time be an enemy for value investors? (2) Three value investors - Ms Mary Quant, Ms Senty Mhent and Count Ability – are discussing at dinner. Ms Quant says “Value invest...

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CPA AUDIT -> Wharton MBA -> Top Hedge Funds?

CPAtoMBA

**Re-Post from B-School forum as I thought I may get better targeted responses from here.** My initial target careers out of MBA were Management Consulting or I-Banking. However, I grew stronger interest for Hedge Funds or Asset Management companies recently and thinking to go that route instead. ...

1
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Q Investments

powertime

Does anyone know anything about these guys? I have a phone interview coming up with them......

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+139
I'm bored: Macro Hedge Fund PM Q&A

macro bruin

Howdy 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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Would you work for a family office?

starmine17

3 years into my current gig at an equity L/S fund (started out of undergrad) that's getting hit with redemptions so I'm looking to get out ASAP. I am weighing a few options at the moment: (i) MM PE associate, 2 funds with total AUM 500MM-1B range. Good comp package offered and solid team but not mu...

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G-Research - Hedge fund or not?

uxtriondwigelti

G-Research is often cited among the top quant funds in London, however it is hard to find more information. According to the following review on glassdoor from June 2014 they do not trade. "In terms of work culture, according to what I have heard/understood from HR manager, G-Research is not really...

5
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Math/Stats Major?

moneymachine12

I’m a junior at a nontarget and want to work at a l/s discretionary Hf eventually. Will it be worth it if I stay at school for an extra year and get another major in math?...

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M&A to Retail Trader & Researcher to Global macro HF

dick_fluid

Hey monkeys, i'm a bit of a special case and now want idealy a job as a macro trader and/or researcher within an HF. or if that fails something similar in a bank. i'm undecided at this stage between research and trading as i can't dissociate them in my mind. i had a normal resume base on the m&a tem...

1
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Citadel Assessment Test

arjun.p.agrawal

Hi Everyone, Has anyone appeared for the Citadel Assessment test for the position of Trader? Thanks...

3
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Cover Letter and Resume Design/Format for Hedge Funds

amda279

Is anyone here familiar with 'Novo Resume'? They offer various creative designs for CVs and cover letters. Are any of these suitable for a senior/executive level hedge-fund job application? If so, which ones? Alternatively, would you suggest sticking to standard plain format for Hedge Fund and/or...

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Investment Opportunity in Africa

Dobinhom

Greetings All, I was born and raised in an African country but I have been in the U.S since I was 16. One of my cousins is now stationed here in NYC as a diplomat representing my country at the U.N. Although her background is in law, she is now in charge of the investment division and is tasked with...

1
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Bill Ackman fund up 25% to begin year

ironman32

Saw the headline today that Ackman's fund is up ~25% into the year. He said it was based around 4 plays, SBUX, CMG, Fannie and Freddie. I guess this is good; I mean, if people strictly invested for 6 weeks increments. He has also taken substantial loses in the past, so I know he's looking for p...

4
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Equity Derivative Trading to HF

wutangclancarryout

Starting a career on a single stock vol desk and wanted to know what kinds of opportunities could be open a few years down the line in the investment management universe. Always loved analyzing equities from a value perspective, and I was curious how I can keep the door open to potentially joining a...

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T. Rowe Price equity research vs EB in New York

James.Stock

Two offers: one for T Rowe Price equity research in Baltimore, another for an elite boutique in New York. Which offer should I take if I want to be at a top fund (HF or long-only) down the line? I know the EB will give me a wider range of opportunities. Trowe will give me the training necessary to ...

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