Silver BananaTopicReplies
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What do you think about the CAIA?

procrustes

I'm seeing more and more people take the CAIA What is the CAIA Exam? Sometimes described as the “CFA for everything besides stocks and bonds,” CAIA is the Chartered Alternative Investment Analyst designation. It is a two-level exam that focuses on, as the title suggests, alternative investments...

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3rd year HF Analyst pay in HK

hong4431

I've joined a L/S HF right after my collage and currently in 3rd year with the firm. Wondering what would be the base salary like for other funds with similar background as mine? just feels like i'm underpaid at my current firm....

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Boutique Fund Trader's Assistant to operations at Point72 or risk management at millennium management

Macrowhat

Hi everybody, just wondering if i can get some career advice or just helpful comments on the topic here. Currently I'm around 1 year into the current trading assistant role at a small fund. Looking to slowly grow into a trading role from just doing basic executions within the next 2 years then hopef...

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Open HF Summer Analyst 2019 Apps

LazyLifeGuard44

What are some HF with OPEN SA internships for 2019 in the NYC / Chicago area? Other than AQR etc. it seems that a lot of the apps are closed?...

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Switching to a Different Hedge Fund: The Interview Process

Born2Trade

Hi all, For all the experienced hedge fund analysts out there, what was your experience like regarding moving from one hedge fund to another in terms of the interview process? Haven't seen much content on WSO regarding the topic. As some background I did 1 year in ibanking and have 2 years of HF ...

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Help for Private / Structured Credit Interview

INeedASpaDay

Hi guys, have an upcoming interview with a MM private / structured credit fund that originates and invests in a wide range of credit securities - senior secured, asset-backed, mezz/pref, NPL pools, "specialty loans," etc. A member of the team informed me that i would be asked to "evaluate & price a ...

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Quant Funds in the Bay Area

econgeek

Hey All, Does anyone know of any quant funds (Big/small ) in the bay area? ...

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Switching Industries on the buy-side

SystematicMacro.FundamentalEquities

Hey guys, Love some opinion on this. I am mid-level (5-year into career) after 3-years of sell-side research on #1 II ranked team am now over on the buyside at a very top multi-strat relative value firm. Small team, huge risk limits, great returns and I contribute a ton. Been covering the same inds...

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Hedge Fund Set Up Assistance

Toan-Pham

My objective is to find firms/consulting services to help me set up a Hedge Fund. Two factors that I'm looking for include the services that's offer along with Fees. Can I have tips and advice on how I should go about this along with where I can source for these companies?...

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What to do after hedge fund blowout?

Sapphire.bay

Hi all. I am an experienced analyst 7 years out of school (2 in IBD, 5 in HFs) trying to figure out next steps for my career since I was recently laid off. This is the third time I have been on a team that's blown out (all at large platform multi managers) and I'm finding that the HF hiring market r...

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Fundsmith and Lindsell Train

sa-jue

Anyone know more about them? They are mutual funds, but have a decent track record. Keen to hear how they compare to the good L/S guys in London in terms of comp, culture, PM upside etc....

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How easy is it to move between proprietary trading firms?

hamr5

Recently, I was offered a graduate job as a quantitative researcher at a small but very successful proprietary trading firm (it has about 100 employees but posted a revenue of 250 million this financial year). After a few years, how hard would it be to move from a grad job at a smaller prop trader ...

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Musings of the Recently Unemployed

Sword of Damocles

Longtime WSO user who has recently discovered a significant amount of excess free time after my fund effectively closed. Have been playing around with a bit of writing to fill the time and thought I would create a dummy account to elicit feedback from the forumn. Would love any and all feedback (neg...

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Good Risk/Merger Arbitrage Books?

walton12

I know there are some recommended books out there like Risk Arbitrage (Wiley Investment Classics) by Guy Wyser-Pratte. But that book seems to be very outdated (i.e. not a lot of shareholder rights back then during the time frame of Guy's examples). Any more relevant ones available?...

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Best degree for a prospective Quant?

AvengerM4

Computer Science, Engineering, Mathematics, Statistical Science or Finance? Which one is preferred by recruiters and why?...

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hedge fund recruiting timeline

ffffml

does anybody know the typical timeline for hedge fund internship recruiting? like how for ib it started in may will probably go on until september or so...

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Supra Institutional Shares definition?

LifeIsGood7

Whats the exact definition for this share class? Haven't found a clear, or any, definition as of yet from a simple google and SEC search. ...

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Which firms are considered the breeding grounds of future hedge fund managers?

utsav

There is a notion in the industry: GE, McKinsey, Unilever are tipped to be the companies which produce future CEOs. Is there an equivalent for a investment firm? I know that Julian Robertson's tiger fund resulted in a number of funds which are now collectively known as tiger cubs. Today are there...

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Starting a fund outside the U.S.?

Chef Yaboyardee

I'm currently in the position to join a 50/50 partner in starting an systematic futures trading fund, similar to a CTA. A little Background: I'm currently a VC/Growth Equity analyst and I really enjoy the position. Investing in new technology, industry research, modelling, etc. It's been a great e...

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Citadel Assessement test

mawchne-.

Hello everyone, I'm just wondering if anyone has any relevant information about Citadel Assessement test - quantitative researcher intern ? thank you...

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Where do you get your ideas from

Chimp_and_jeez

.any good recommendations for idea sourcing please? What sources have you found to be the most helpful?...

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Hedge Fund Opportunities in Hong Kong

aspiringderivativestrader

I am currently at a top bulge bracket (GS/JPM/MS) based in NYC and looking to move to Hong Kong to the buyside. Wanted to ask what is the best way to recruit and if native level Chinese is required given my mandarin is elementary having grown up in the US, ...

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Farallon Capital: healthcare and overall work

hedge-mofty

What is your experience working at Farallon Capital, specifically with the healthcare team? I would like to know more from WSO community on your thoughts on working at Farallon and anything that you have heard from friends/ family that currently work there with respect to: (i) culture (ii) life st...

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Citadel's Physical Natural Gas Presence

Tandem21

Straight from their website: "In addition to trading the US natural gas derivatives markets, the US gas team acquired a portfolio of natural gas pipeline transportation capacity in 2016 which has enabled the team to grow its physical footprint. On an opportunistic basis we would be interested in sp...

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Global River Associates - scam or new firm

FOHFLady

A firm recently came on my radar claiming to have $600m in aum and is pursuing a variety of equity and other trading strategies. The earliest info I can find is that the website was created in November of 2017. No other identifying information on linkedin, website, anything. Im quite skeptical this...

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List of sell-side research firms

Leverup13

Hey all, Looking for a list of sell-side research shops in the northeast -- Wondering where I could find one/look for one. Also wondering where most of these shops would be located ? Any help would be appreciated, thanks!...

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ABS Funds

Undercover meme

I have a potential interest in ABS products, specifically esoterics. Are there any hedge funds that specialize in this field? (I know of CQS but there have to be others)...

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Why do you think public equity is more interesting than private equity?

NYCkiddos

Hi Guys, I would like to pick your brain on this one Why do you think public equity is more interesting than private equity? Thank you !...

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AMA: Research Analyst at $1 Billion Hedge Fund

Born2Trade

Hey everyone, I’ve been a long time user of this site, which was instrumental in getting me to where I am today. If it weren’t for the help of everyone on here I certainly would not be in the position I am in today. I’ve been meaning to do this for a while but I would finally like to give bac...

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I'm a London-based Distressed Debt Analyst - AMA

vulture-fund2015

I did 1 year at one of the top restructuring shops (BX, HL, Moelis etc) and then moved on to a credit fund. I've been here for 1.5 years and love every minute of it. We've historically focused on the distressed/special sits (control and non-control) space but given the drought of opportunities (in o...

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Transition from Insurance AM to HF/Pure AM

maxwell95

Hey guys, just trying to gauge how receptive HFs/pure AMs are to people with IM experience, but for an insurance company. I'm currently working in structured credit research/trading for a firm with about $17bn AUM, and eventually would like to switch over. Love working in AM but upside at insurance ...

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Trying to find salary ranges - how do I figure out which hedge funds are comparable?

JA_NC

I'm interviewing at a hedge fund that hasn't been mentioned on this forum at all, and the open position has a crazy big salary range according to the internet. I'm trying to find a roughly equivalent firm on WSO or Glassdoor that has posted salaries so I know what to expect. What metrics would you u...

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How will you add value since day 1

ffffml

I applied to a hedge fund in nyc for an internship. Someone reached out to me and asked me how I would add value since day 1. How do I best go about answering this question? I was thinking of saying stuff like my modelling and valuation skills would maybe help with usual stuff but I haven’t been a...

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Case Study Prep Help

wagsbillions

Hi guys, I was wanting to know how to best prepare for fund manager case studies in interviews. I've got an interview at a large fund manager for a graduate role and I was informed there will be a case study but no specific details were provided. What kind of things should I prepare for and what ...

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Transitioning from MM PE to HF

Bluefanatic

I am starting a MM PE job soon and currently work at an EB. The reason I originally took the PE job was because at the time (very early in my analyst stint) it seemed to be the right next step, a foray into investing while still maintaining the familiarity of running processes, managing teams and pe...

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Cold Emailing Investment Pitches to PM’s

tmike425

Hi everyone, am aware that this sounds like a long shot, but am looking for a bit of advice on how to go about cold-emailing an investment pitch to PM’s with hopes of converting that initial contact into a role at their fund. My Story: Interned at an EB last summer across Rx/M&A and got solid d...

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"Quiz" on intellectual horsepower - how to improve on this?

Chimp_and_jeez

Hi guys: My boss has a recurring practice that I think is designed to test our intellectual ability - every month, he'd give us a write-up of an old stock that none of us had looked at, and ask us how we think it performed after the write-up. The write up will include business information as well as...

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Benefits of a CFA? Debating taking the exams

newyorker3

In my first year out of school and currently working as a research analyst. looking to as i gain more experience, work as an analyst in a hedge/mutual fund. Debating going after the CFA and was wondering if anyone had any feedback on how it may have impacted them following earning the charter? jobs,...

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Modeling for Credit Funds

SSCC

What type of modeling / technical analysis / valuation is most frequently used in credit funds and distressed funds specifically? What are the most important technical skills?...

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GAAP vs Non GAAP

Chimp_and_jeez

Hi, does anyone have a good article/reading material on how to evaluate GAAP vs non GAAP earnings numbers please? Thanks! ...

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Preliminary Interview at Point72

hedgefundguy97

I was recently invited to participate in a preliminary interview for the 2019 Summer Academy Program at Point72. I am wondering given my educational background what the entire process will be like. I am an economics major and have not been exposed to a ton of finance and accounting classes, so I a...

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Experienced Hire Interviews & Questions

remylebeau1337

Hey Guys, I was wondering if anyone with a good amount of experience (5-10 years) at a trading firm or hedge fund has gone through new job interviews lately? I was looking at a job at citadel and wondering if brain-teaser questions are still common at this level. Anyone know if hedge funds and or ...

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MAN GLG and Soros - London

sa-jue

How do they invest in equities, ie more trading or fundamental oriented? Also, how is the culture / comp like for both? thanks...

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Netherlands or Switzerland for a career as Quant/Trader?

AvengerM4

Hello everyone, I'm studying Computer Science (2nd year atm) in Greece and I would like to do MSc abroad in Financial Engineering or a more specialised CS program. I'm interested in HFT, prop trading/market making or commodity trading. As far as I know there are some Quant HFs and some big commodity...

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Portfolio turnover of Tiger cubs

sa-jue

Anyone have data on the portfolio turnover of the Tiger cubs? Wonder how trading-heavy they are. I know that the positions overlap is material across them. thanks...

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Help negotiating salary

iHateModeling

I'm negotiating my salary in a few weeks and would greatly appreciate any advice. Brief background - I'm a few years removed from a (very) non-target school. I'm the sole analyst at a small L/S value fund (~$200m AUM). I came in as a junior analyst a year ago and six months after I started, one of...

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HF move Europe -> US (external)

sa-jue

Has anyone moved from Europe to a fund in the US, but externally? Keen to hear if that has worked out for anyone in the past....

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GMT Capital / Atlanta

sa-jue

GMT is one of the few large shops outside NYC. Anyone come across them? What is the strategy / culture / comp like compared to the usual peers? Appreciate insights from guys who work or have worked there and or people who know someone there....

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DE Shaw Activist

INeedASpaDay

Anyone have info on this group? Comp, hours, culture, investments, track record, etc.? Have a first round coming up with them, and can't find much other than they were involved in lowes & adp alongside ackman. ~4 years of experience in asset management, so this would be for an "associate" level role...

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Is anyone from Europe?

AvengerM4

Hello everyone, I'm studying Engineering in Europe but I don't really enjoy it. I love everything about markets and trading so I want to do a Master in something like Financial Engineering because I really want to work in a Hedge Fund in Europe but I don't know which country I should go for. Any ide...

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Walmart - income taxes payable much smaller than income tax expense?

Chimp_and_jeez

Hi everyone, I have a quick question about Walmart please - it's income tax payable is only ~$700 mm last year but its income tax expense was much larger at $3600 mm - what would cause such a difference please? I know the difference would be caused by book versus taxable income, but what items/trea...

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Physical Commodity Trader interested in Junior/Investment Analyst Role at Hedge Fund

AndrewThomas

I have 1 year of experience as a physical commodity trader. I work in the lumber market for the largest lumber trader in the united states ( Unless you are in the industry, the name will not ring a bell ). I am also on the state board of a major non-profit on the executive committee ( Irrelevant exp...

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Machine Learning Taking over HF research analyst roles in near future?

thehalifaxgroup

I read an interesting article recently regarding machine learning taking over research analyst roles over the next 5 years or so (https://qz.com/1113633/wall-street-analyst-jobs-are-the-most-likely-to-be-disrupted-by-artificial-intelligence/). I also spoke to the CFO of a multi-billion dollar pens...

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Meeting with Fund Manager

Ivan Boesky

Hi WSO! I have a great opportunity in front of me, and I would appreciate some tips on how I can make the most of it. I have an in person meeting scheduled with a rather legendary CEO of an investment firm whom I look up to, and I am wondering if anyone has any tips on how I can have it lead to a ...

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How do HFs expand/diversify into private markets?

metternich34

Hi I am very curious, how are/would hedge funds expand into the growing private markets and how does it differ from the traditional "private equity" model? Thank you for your responses. ...

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Sample Morning Note

South Mountain

Hi all, I recently got an offer at a small (~$250M) hedge fund and one of the things they'd like me to take over is creating a morning note. Does anyone have a sample template of a morning note that gets sent out daily? I have an idea of what to put on it, but an outline would help a lot. Thanks!...

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interview follow up with fund manager

ffffml

I had applied to a fund and the guy running the fund reached out to me asking if a certain date would be okay for a phone interview. In his reply, he also marked some assistant or someone. It's been like a few days since I replied back to him stating my availability; however, I haven't gotten any co...

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Entry Level Hedge funds sales salary

rly

How much does an Entry Level Hedge Funds Sales individual make on a yearly basis? Sorry I'm a noob. Salary in NYC VS Dallas? Thanks! ...

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Salary expectations / career growth

Goldenfamily

Was wondering what could be the salary/career progression in SALES at a 300bln hedgefund Obviously eat what you kill, but was wondering more specifically base/bonus....

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I am a Hedge Fund recruiter AMA

Ekoa

I 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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Fundamental equities shops in Europe

sa-jue

Anyone has a list at hand including fundamental equities shops based in Europe / London? Including TCI, Pelham etc. Keen to hear less obvious names. tx ...

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Highbridge, Man GLG, Leucadia Investment

sa-jue

Hey, has anyone come across Highbridge, Man GLG and or Leucadia Investment Mgt? How fundamental are they in equities or are they close to a Balyasny / Millennium in terms of being a trading-oriented multi-manager? ...

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Any insight on BlackRock Alternative Investment Solutions

MidtownParkAve

Does anyone have any insight on BLK's Alternative Investment Solutions Group inside its broader Alternatives practice. I don't really see these guys in the market and BLK is such a behemoth place that I find it difficult to actually get any real intel on them. Can anyone speak to the leadership th...

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Fundamental / Value HF Resume. Please critique.

lioncub

Hi guys, Recent grad looking to put my CV into some funds and looking to get some critique. Fyi, I'm here in Australia, so I'm looking to apply to aussie value shops, so there may be some nuances as compared to a US resume. ...

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Phone Call with Well-Known Fund Manager

Ivan Boesky

I met a well known (appears on CNBC, books written about him, etc.) midwestern based fund manager at an event a few weeks ago, and I got a chance to introduce myself and we spoke for a short while. I asked him questions like "what can I do to best position myself for success in your industry at thi...

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20 reasons why the series 3 is the greatest rating to have in 2018!!!

trailmix8

Apologies for the clickbait title but have a serious question about the series 3. My goal is to pass the series 3 in no more than 3 weeks of study. Can anyone who has passed the exam please recommend the best and cheapest study provider out there. I don't want to read anything, I just want as many ...

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Potential Job Oppurtunity

H4nks

I am looking at two potential opportunities: 1) Senior Credit Analyst at a European bank in corporate banking. Large bank (almost 1 trillion in assets) but just starting to break into the US market. Role sits in the front office and is a good setup to become a relationship manager. This has been e...

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Which offer should I take?

nesa

Considering a couple of offers atm in L/S for NY - I'm 1.5 years in as an analyst in IB 1) 10-20bln, recent track record OK, senior guys seemed pretty checked out, big team with lots of smart people, great name - probably would have to leave at some point to ever get a senior role as I expect them ...

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Ideal Path to Global Macro

Prospectivestudent123

Hey fellow monkeys, there have already been some posts about global macro hedge funds, however, I'd be very grateful about some more specific advice in my case. I have finished a business and economics degree at a non-target and will start a master in finance like programme at a UK target school (t...

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From analyst to Fund Manager

dyjokoniak

Generalist global equity analyst at a value fund which buys puts for hedging. Our process is quant screen>idea generation> research> buy/sell decision. We have no formal system where analyst idea generation is quantified , so to show good performance is the best way to impress and earn a deputy PM...

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Fund of Funds FoF Rankings

agepoyosu_1

Hi all, I tried looking for information regarding FoFs but wasn't able to find a comprehensive list online. I'm most looking for world ranking of FoFs by AUM and information pertaining to their returns, investment strategy and if possible the funds they are investing in. Would would be really grat...

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