Silver BananaTopicReplies
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BooksHello all, I am currently a sophmore at WVU. It is almost finalized that I will be at the University of Maryland Next fall though as I feel that WVU is just not gonna do it for me. My dream since I was in middle school has been to do something with the stockmarket. It has fascinated me to no end s...
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Convertible fund - what's the right angle?Hi all, Hoping to get some info from any of you that have interviewed for (vanilla, not arbitrage) convertible funds. Has the interview focus been more on credit or equity questions? i.e. Are the questions based more on technical analyses of fixed income, or is it more of a "pitch me a stock" ap...
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Likelihood of getting an internship through emailing PM at big funds. I'm a sophomore at non-HYP target (think Columbia, Dartmouth, etc.,) trying to get ready for junior summer. I secured my soph-summer job at megafunds (think KKR, Carlyle, CVC Capital) in my home country in Asia as a PE analyst and had multiple jobs in McKinsey and Hedge fund that value invests. ...
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BNP Paribas - Interview - Investment BankingSome programming questions on python Personality questions Hedging positions and trading strategie...
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If a friend refers a client to a hedge fund, do they have to be registered with the SEC?Had a few friends ask to refer some friends of theirs to a hedge fund, but wanted some type of comission/finders fee. Although I was not sure if you technically have to be a registered broker with the SEC to be paid for referring prospective investors to hedge funds? Can anyone comment on that? Wha...
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Point72 - Interview - GeneralistMight not to be exposed i guess. But the question is not so tough, instead, it is more like a insight sharing of your thoughts on some general industry development. And it is very open, which means you could discuss the topic you are more familiar with (no deep insight needed, just talk about it at ...
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Going from Real Money to a credit opportunities/distressed fundHi, so I have spend a few years on the sell-side as a desk analyst (High Yield) and transitioned to a buy-side credit analyst role some eight months ago. I have started to miss the 'elevated heartbeat' moments and just genuinely come to understand that I belong in an environment where investments ...
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Point72 - Review - Equity ResearchGreat working environment, steep learning curve, substantial on the job training, learn how portfolio managers think. long working hours as expected, challenging supervisor since it is a buyside firm, result-oriented and indifferent...
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Targeted Returns - Value InvestorsTo the value investors out there: When you are looking at an equity, assuming the company has attractive fundamental economic characteristics; what sort of targeted return are you looking for? Do you wan't to buy something for less than 60% of what you think it's worth? Do you look at it from an ...
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Expected comp for for $1bn AUM fund (after 2.5 years IBD)?Value fund in NYC with 2 partners and 2 mid-level investment professionals. Would be only junior analyst. Coming from IBD w/ $125k base and 100% expected bonus for 2018. Just trying to gauge what is market....
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Defining Passion for InvestingAs a prospective (hopeful) future public markets investor, I was hoping to get some perspectives on what defines a "passion" for investing. Is there something riveting about putting your smarts to the test against other investors? Being an independent thinker? Thoughts on competition more broadly? ...
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Getting an internship with a hedge fund via a connection Hey guys, This is going to be a very weird question and y'all might even roast me, but I want to ask what my chances of landing an internship with a hedge fund via a connection are. Here are the details: I'm a freshman at an Ivy and I have a connection with a MD at a small fund (couple billion in...
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Point72 - Interview - Equity ResearchWhat do you believe defines a good business? How would you value Tesla? Many questions revolved around critical thinking about company valuation, important operating metrics, and the core revenue drivers of companies based on industry (among other factors). Other questions were mostly behavioral, wi...
Point72 - Interview - N/AThere wasn't really anything super hard, since the question was given beforehand and we got like a few days to think about and write out our answer. The Hirevue question asked you to talk about an industry that was evolving - what caused this evolution and how business models would change based on t...
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Bad GPA vs the ability to bring in massive revenue for the companyIf you are a student with a bad GPA but is also, for conversation sake, the best trader in the world and have returns on your stock portfolio that is better than the best traders on Wall Street. You also won the world stock trading competition against a million other students. Will a hedgefund recru...
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Anyone have information on Anchorage?There are many thread on this online, but not for intern. Anchorage is recruiting at my school for internships and was hoping you monkeys could share some info on what the interview process would be or anything notable about the firm. The website (http://anchoragecap.com) isn't super helpful....
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Beating the average US annual salary (50K) in less than a month with 2500 in funding (FX trader)Hello everyone, These are the result of the first 12 days of my trading. I'm hoping to beat the average annual income in US before the end of the month. I'm currently looking for a job in a hedge fund in either US, Europe (perferably Europe since I'm attending University there in August) only ...
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HedgeServ - Interview - Equity Capital MarketsThere were almost no surprises or difficult questions. Be prepared to talk about your education history, short and long term goals. The technical questions ranged from basic math to asking the difference between the equities and fixed-income market. While basic, the interviewers wanted thoughtful an...
Maverick Capital, Ltd - Interview - Quantitative ResearchThe quant girl had a heavy accent and was more interested in finding out about what signals we used at my old shop even at the nitty-gritty details, even though there were multiple times I said I couldn't divulge it because of IP issues. She didn't seem to really care for that. Also, they made str...
BlackRock - Review - Leveraged FinanceLike the team. Very collegiate. Most colleagues are boatloads of fun Interesting job Lots of responsibility from the start. Low level employees take long to get kicked out Stress due to high responsibility Some colleagues can be tough to work with due to personality...
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Idea Sourcing for Hedge FundsI work in RE. I identified an opportunity and prepared a research report on a public company within one of the sectors we specialize in (healthcare R/E), is trading at a huge discount to underlying NAV. After putting together a long report, I called and tried contacting some people in the hedge ...
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Citadel Fundamental StrategiesDoes anyone have any information on Citadel's Fundamental Strategies group which launched last year? Seems like they invest across the capital structure and focus on risk arbitrage and catalyst-driven investing. It sounds like they may be more opportunistic than the typical Citadel long/short strat...
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bcIMC - Review - GeneralistSolid company, good work, learning experience is tremendous. Beautiful office, friendly co-workers, great place to work at overall. Long hours, located in an obscure island in BC, no room for career progression, no other player in BC...
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When The Interview Goes Well But...The person you're interviewing with said that you're going to meet with the next person on the team and then that person supposedly got tied up and will reschedule for the following day or Monday but the recruiter still has not gotten back to you the next day. Cut? ...
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Trump = Quant-mageddon?I may be a dumb southerner who limped through advanced calculus like a wounded animal, but I spent a fair amount of time in college studying math and applied statistics. (I think it is amazing you can graduate from many institutions with a degree in finance, having memorized a bunch of formulas with...
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No Girls Allowed-Steve CohenNews just hit that Steve Cohen had discrimination at Point 72 two, calling out "no girls allowed" prior to meetings. I know some of these guys think they are bulletproof, but the guys at Point 72 must have given 0 fucks. ...
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How To Shift from Risk Management to Hedge Funds? HELPHi everyone, I am very new to Wall Street Oasis, and have decided to join the community for some advice/second opinion. I am currently on my second year as an Institutional Credit Risk Management Associate in a renowned multinational bank, and I would like to know how I can make the shift to Hedge ...
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$1B hedge fund with <5 employeesI have a summer analyst offer at a hedge fund that manages $1B+ and has ...
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Millennium Partners - Interview - GeneralistThere really weren't a ton of very difficult or unexpected questions because this was for a Generalist Summer Internship position. A lot of it was behavioral, fit questions, "how would you react/resolve an issue in a given situation" type of questions. A few questions about why this position, why Mi...
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Recently graduated, getting stuck in fund of fundsDeleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted Deleted ...
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Wharton or BustAre there hedge funds - or other buy side firms for that matter - that recruit almost solely, if not solely, from ONE school? Ex: X firm only takes in Wharton grads. Y firm only recruits from MIT. And so on. Basically, are there real Pearson Specters out in the world of high finance? If so, which f...
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Need advice - equity analyst offer at event driven long/short start-up, have to decide tomorrowI currently have an opportunity to join a year old event driven long/short fund. The fund has a little under $200mm AUM and had a very solid year last year. They are backed by one of the big hedge fund of funds and the PM has a good track record. The offer they gave is to take a slight pay-cut but t...
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Most sought-after skills for Quantitative research positionHi there, I went to undergrad at a target/semi-target school (top 10 but not ivy) and am currently pursuing a master's in operations research (OR) in an ivy. My plan is to work as a quantitative analyst after graduation. That being said, I am torn between doing a financial engineering track (takin...
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Point72 - Review - N/ACompany had more interesting work, a better work life balance and higher pay than private equity role . Job is much more fast paced and high volume than private equity, covering 25-75 stocks with daily news flow on all of them...
Five Rings Capital LLC - Interview - TradingThere were estimation questions regarding natural logs, which I found odd. Additionally, there were a lot of Fermi questions that could be very tricky (look at http://www.fermiquestions.com/play for examples of such questions). Besides that, the trickiest part was the time limit. They didn't expect ...
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Short-term investingI believe that some equity long/short hedge funds have a pretty short time horizon for their investments. This might sound naive but I was wondering how they can operate like this. Especially for the funds that focus on getting earnings right - I find that near impossible to call. I understand that...
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Susquehanna International Group - Interview - DerivativesYou have 17 coins and I have 16 coins, we flip all coins at the same time. If you have more heads then you win, if we have the same number of heads or if you have less then I win. What's your probability of winning? roll a dice, win 2* the value of the face if it is an even number, or win 1*the v...
Point72 - Review - ResearchSmart people, good atmosphere, good hours, great benefits (excellent insurance, 401(K)), good management.. High learning curve, demanding, very competitive, But not much to complain about. Depends on portfolio manager....
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AMA: Former hedge fund junior trader/analystI recently got laid off by my employer, a larger credit focused hedge fund. I though I'd create an AMA to clear up questions anyone may have regarding the hedge fund industry. I traded multi-asset classes included ig, hy, cds, clo's, mbs, and specialized in tech and healthcare industries. My backgro...
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Conversion of two closed end funds into open fundHi, I'm interviewing with a HF and as part of that process, I've been given a scenario where two closed end funds are closing and merging into the company that owns them, basically becoming an open end fund. I have to devise an investment report of sorts that would explore profitable opportunities ...
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Fundamental roles at traditionally strong quant HF's.Hi everyone. I understand that hedge funds such as Citadel, DE Shaw, AQR etc. have traditionally been recognised as strong quant funds. However, I realise that they've broadened their strategies to include more fundamental roles. What is your opinion of such roles at such funds? For example, bein...
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Can I eventually work at a biotech analyst?Hi I have a B.S. in Neuroscience and M.S. in Statistics both from UCLA. I currently work as a data analyst. I have an ability to peruse scientific articles and clinical trials with ease. Anything I don't know, I can easily research and learn quickly. I can also scrutinize the statistical methods...
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AllianceBernstein - Interview - Investment BankingThe interview was entirely behavioral. Questions included: Which roles are you interested and why. How would you benefit from this program. Why Alliance Bernstein. They also asked me why did I pick my college and my major. They asked me to talk about a time I overcame a struggle as a team. They also...
Two Sigma Investments - Interview - SecuritizationClassic friend circle problem: 1) There are N students in a class. Some of them are friends, while some are not. Their friendship is transitive in nature. For example, if A is a direct friend of B, and B is a direct friend of C, then A is an indirect friend of C. And we defined a friend circle is a ...
CITIC Capital - Interview - Mergers and AcquisitionsWhat do you think about Trump, you do not look like a trader, why did you apply, biggest dream ...
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2018 Equity SlumpConsidering the recent drop in equity prices across markets, and more importantly, expectations of further drops (Bloomberg just posted an interview with a skeptical Nader Naeimi), is this still a time to hold equity positions? Holding 85% equity (index funds, ETFs, etc. )and the remainder in cash. ...
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Citadel Investment Group - Interview - Quantitative ResearchThe interviewer first asked about my resume. He then asked me to go into more detail about the current projects that I'm working on in my resume. He also asked about certain classes that I was taking and the importance of those classes. This was specifically true for the machine learning classes in ...
Point72 - Interview - GeneralistI was asked what my five biggest weaknesses were, which was a bit tough since usually, you're only asked for your biggest weakness, tops 3. Another question was what why Point72, especially over other hedge fund programs like Citadel or DE Shaw (fundamental equity). This one was tough to answer, bu...
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Certified Hedge Fund Professional Certification (CHP)Hey everyone, I'm currently a senior at university and I am planning on sitting for the CFA in December. I came across the CHP certification, and was wondering if anyone had any experience sitting for the CHP and if there is a strong consesus that it is a good and distinguished certificate to have...
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Questions about Bridgewater / Reading Philosophy?1. What is the day-to-day work of an investment associate right out of college? 2. How much do they care about GPA, and what is their approximate threshold to get a 1st round interview? 3. I asked someone from my college who will work for them this summer (he's extremely smart), and I asked him a...
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Managing AUM less then 100MChaplin Capital’s investment strategy is event-driven and value-oriented, specializing in the identification and analysis of securities likely to experience a change in value resulting from market catalysts. The firm’s investment activities may be classified under three strategies: • Merger ...
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MIO Partners - Interview - GeneralistWhat is the vega for a put given its similar call has vega of x? I guess it is not a hard question. But I does not understand the question well at the beginning and I was trying to take derivative from Black Schole model. But then I studdenly remembered the vega for put and call are the same. It was...
Citadel Investment Group - Review - ResearchIt’s pretty interesting word esp considering that I like investing so much and it’s a good platform.. It’s quite intense esp during earnings season and so it’s a demanding job. Depending on which Pm you work with, it can be quite different as some have bad temper...
BlackRock - Review - InvestmentsAs BlackRock is big, depending on the team compensation can be very rewarding (generally on the active investments side); scalability and the name also provides a lot of resource and learning opportunities for juniors. overall very merit based. Getting too big and hiring a lot of unnecessary functio...
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Distressed Debt Analysis - MoyerHey 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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How to Start Your Path to a Hedge Fund JobAs an undergrad student that is determined to make a career on the buy side of the market, whats some helpful tips and advice that will jumpstart my process of making that dream a reality?...
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Anatomy of the 10-KStill jet-lagged by 8 hours from a day and a half in London, I haven't slept for a good 48 hours and remembered I owe WSO my process for dissecting a 10-k in the usual form. Before I get right into it, keep in mind every business is different and that will dictate the way you should read their spec...
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26 Year Old Female to raise $200 million Short Hedge Fund"26-year-old Fahmi Quadir, who expects to raise $200 million at her newly created Safkhet Capital and begin trading early next year, may face an uphill climb. Hedge funds have come under fire for high fees and unimpressive returns. Fewer startups rolled out in 2016 than in any year since the financi...
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Distressed HFs compared to Distressed Credit within PE FirmsI was wondering what people think about working for distressed HFs (Silver Point, Anchorage, etc.) compared to distressed businesses within larger funds (say, GSO or Oaktree distressed). The latter category has stable capital, with all the structural advantages that brings. They are able to invest i...
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XIV Goes PoofSo I read yesterday's newsletter by Matt Levine https://www.bloomberg.com/view/articles/2018-02-06/people-are-worried-about-the-stock-market The short volatility trade finally blew up. Some poor retails guys on Reddit caught holding the ball are wondering whether they should literally kill themsel...
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Are you good at shorting?Was asked this at a HF interview. What is your thought process when determining good shorts and what are key items you look for. Also, how do you determine what kind of position to take and how should you adjust/change your position if the market goes in your favor/against you favor (for example, ...
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Och-Ziff Capital Management Group - Review - Mergers and AcquisitionsGood work life balance. Standing desks. Excellent menotorship. Quality tech support groups. Good location. Pay is way below average for the position and street. Management makes promises they do not keep. low pay...
Magnetar Capital - Interview - Fixed IncomeThe most difficult question was some technical questions regarding python, as the position required some computer coding. Be prepared to answer specific and detailed questions about your experience, and they will expect you to have thought retrospectively about your experience, why it makes you appe...
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Accidental portfolio manager looking for optionsWould love experienced feedback on my situation.. I work at an investment research firm, independent. CEO pulls me aside a few years ago and asks me to create a systematic US equities strategy based on his factor research. Ok. I put together a security selection model, and let it run. First two yea...
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Bridgewater - Interview - Prop TradingThere really wasn't any one question that was particularly difficult. It's just that Bridgewater has this culture of radical transparency, and it feels as though you're being scrutinized very closely by the interviewers. The whole group interview/debate was also very unusual, and it was difficult to...
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Mistake to tell Recruiter also interested in AM?I am going to be reaching out to recruiters soon and wanted some advice. I’m coming from sell side research and am looking to make a jump to the buyside. Truthfully I would be happy working at either a hedge fund or traditional assessment firm (Fidelity, etc). What’s the best way to approach thi...
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Canadian buy-side analyst trying to transition to USHi, I am a canadian buy-side analyst working at a $50mm+ hedge fund. It is my 3rd year on the job and my experience are predominantly in the event driven space (risk arbs, special situations) but I do have some experience covering long/shorts via my current job and via previous 2 years on the sell ...
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Moving to London HF from USHi all - was wondering if anyone here in the HF space has made the transition from the US to London and could shed light on their experience (likes, dislikes, culture differences, pay, etc.). I'm currently stateside in a multi-strat (analyst level) and evaluating potential opportunities (London wou...
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Final round buyside interviewSo I had a rly good final round with case study with the partners. Reception was very positive: they asked abt when I expected comp, when I would be able to start, and if I was talking to other shops. They said they were hiring for 2-3 jr positions, and that they expect start date to be within a mon...
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EB Analyst -> Credit Research -> Credit Hedge Fund?I worked for 2 years at an EB doing Rx and M&A, wasn't given a third year promote, didn't do well in buyside recruiting and switched to a sell side credit research role at another bank. I've been here for 2 years now and am a top performer but I'm wondering if my inability to get a buyside job right...
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What books or where can I learn more about quantitative investingI am a noob value investor with knowledge in basic intrinsic value methodologies such as DCFs, Comps, Earnings Power Value, and the Graham formula. I am extremely interested in valuation and was wondering if there were any other quantitative strategies that you would recommend I explore. (I don't m...
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Buyside Research Analysts - What blogs/newsletters do you regularly read?As an equity research analyst, what are the best blogs/sources of news out there? Similar to Stratechery for example...
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Headhunters in Mid-AtlanticI wanted to know if there are any headhunting firms for hedge fund jobs that specialize in the mid-Atlantic area (DC,Baltimore, Philadelphia). Alternatively do any of the recruiters that seem to be based in NYC also tend have opportunities in that region? Thanks!...
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2-hour Modeling Test for HF (Fundemental Equities) - What to expect?-I have a final round analyst interview at a fairly well recognized fundamental equities shop in NY. I was told to expect a two hour test and it's likely to concern either a model update or a ground up modeling excercise. -The PM will then decide based on what you produce and the fit you bring to t...
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Cold Emailing for internship help neededI've been cold emailing and asking for the internship straight up in my emails but I've gotten close to no response on those. I attach an investment writeup(the limited feedback I've gotten indicates that it's very good so I don't think this is the issue), and this is the template I use: Hi YYY, M...
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Help with Hedge Fund Recruiting ApproachHowdy y’all, I’m looking for critique on my hedge fund recruiting approach. I’ve identified two funds whose teams I would like to join. Both are located in a small city to which I will be moving soon (regardless if I land an offer with one of them). I don’t just want to simply cold call them...
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OrbiMed Advisors - Interview - Investment BankingNothing too unexpected- just general questions about finance to see what my knowledge base was because I come from a non-finance background. For example, he asked me to just name the parts of a balance sheet/income statement, etc. He had a copy of my resume and asked me to explain my experiences in ...
3G Capital - Interview - Investment ResearchQuestions included: 1) Why didn't any of your internships turn into a full time offer? 2) what do you think makes a great business? 3) tell me about an investment mistake you made? 4) Why do you want to work here? 5) What is your edge? What sets you apart from other candidates? There was alot of di...

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