HYP Sophomore Gunning for P72 Academy/Citadel CAP
I'm an incoming intern at a L/S SM this upcoming (sophomore) summer and am planning to recruit for P72 Academy and Citadel CAP this spring. I've read all of the investing classics, maintain models for 5 names, finalist in case comps, listen to earnings calls / follow markets, etc, but feel like it isn't enough.
To people who were in my shoes previously, how did you stand out? I know that the processes are quite meritocratic, but how do I beat out the competition? Any advice would be much appreciated.
There isn't really a specific "reading list" or list of things you can do from here to "beat out the competition" because what the coaches are looking for varies and there's no set mould for a successful candidate most of the time. I did one of these for SA a few years ago and then recruited FT for the other after a master's. I knew nothing and got the SA because the interviewer liked my thought process.
Creating stock pitches and following them each quarter is probably the best you can keep doing.
Would also look MLP's graduate program.
Kind of a bummer to hear but I suppose it makes sense. Would you say there is a lot of luck involved in the process despite P72's constant emphasis on meritocracy? Feels like there's hundreds of college students out there who could spend a month looking at a stock and defend it in an interview, so I don't really understand how to differentiate myself / how the selection process filters for the best candidates.
Extreme amount of luck involved. Really the only way to differentiate yourself is to
1) have a standout thesis, really research your company and show you know a lot about it, and
2) networking and presentation. Get people to mock interview you and give you honest feedback. Can't tell you how many otherwise smart, talented kids get dinged at my firm because they are nervous interviewers and don't hold up to the people who are extroverted and natural talkers. Get your suit tailored cheaply and get a fresh haircut that suits you well. Small things
Yes there's luck involved. Its extremely subjective. Meritocratic just means no nepo (debatable at P)
u sound like me lol
I would imagine the best way to stand out in this situation is by pitching something they are not very aware of. Perhaps a company between 1-3 bn equity cap in a niche industry with some unique driver you can point to.
I don’t imagine anyone pitching a company in the s&p could beat you in that case unless the interviewer has the same opinions on them on that name.
Unironically there’s a reasonable chance you don’t explicitly get asked for a stock pitch in some of these processes.
Mid-tier Ivy League sophomore. Curious if networking is as crucial as IBD for these two programs. Citadel CAP, based on other posts, consists largely of behavioral questions.
networking not as crucial, in fact has very little impact in receiving an interview
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