Hi Mods & Monkeys,
Long-time lurker, occasional poster, overall huge fan of the WSO community (including the trolls who provide oft-needed lols).
WSO has dedicated spaces for IB, PE, HF, RE, CO, TR, AM, ER, and CF. I think now would be a great time to create a space for RX.
Restructuring recruiting and questions are unique from typical IB recruiting questions, having them in a single place would be helpful for prospects and current professionals
A dedicated RX forum would capture discussions in a single place which are currently scattered across IB (Restructuring banking), Consulting (RX consulting, e.g. Alix, FTI), HF (distressed credit investing), PE (distressed PE, turnarounds, Loan-to-own).
This is a unique time where RX banks and distressed funds are one of the few pockets actively recruiting, both on-cycle and off-cycle
Benefit to consolidating information: RX banker may have answers to questions posted in HF (regarding distressed funds) or CO (RX consulting); these questions may go otherwise unanswered of RX banker primarily resides in IB forum
@ Monkeys - if you agree this would help, maybe we can get a petition going to make this happen
Cheers
FINALLY
Bruh rx / distressed is a small, small world. There’s not an ECM forum, a levfin forum, a software forum, or a macro investing forum. Those are all way bigger spaces than rx
RX seems to be the hot thing now among 18 year olds because we’re in a recession, but that will change sooner than you realize.
Do you understand that rx is covered within the ib forum just like all other product and coverage groups are?
I'd argue that rx/distressed is a meaningful and distinct enough universe to warrant its own forum.
Indeed rx is trending now, but recruiting for rx has been fairly steady over the recent years. Even in healthy markets, companies with stretched balance sheets may need to restructure, creating an opportunity set for rx consultants, distressed HF's, and turnaround PE firms.
The difference between rx/distressed and groups you mentioned is that there is overlap between IB, CO, HF, and PE discussion topics and recruiting questions. Examples just from recent posts:
[https://www.wallstreetoasis.com/forums/restructuring-and-turnaround-exi… (IB Forum) OP asking IB forum for exit ops from restructuring, then lists consulting companies.
[https://www.wallstreetoasis.com/forums/qa-restructuring-consulting](htt… (CO Forum) Restructuring question in CO forum sparks a lot of helpful replies from industry professionals which would be helpful to prospect rx bankers and rx consultants alike; further discussion follows regarding differences between banking and consulting roles
[https://www.wallstreetoasis.com/forums/special-situations-distressed-re… (HF Forum) questions about recruiting for distressed and special situations group; professionals in RX IB and RX CO would be well versed to share their experiences there
[https://www.wallstreetoasis.com/forums/distressed-special-situations-fi… (PE Forum) OP asking about opportunity in both distressed PE and distressed HF
Sorry to burst your bubble, but I work in rx and agree with the comment. Yes, rx hiring is pretty stable. Yes it’s very interesting, and, in my (very very biased) opinion, the coolest group/space to be in. But, the groups are incredibly small compared to others. Analyst classes in nyc rarely exceed 10 except at 1-2 places, where they never exceed 15. Other locations (with exception of laz Chicago) will hire 1-2 max. Often, the entire classes are less than 5. So what that means, is that in the entire US there are likely less than 100 new rx analysts each year. Turnaround consulting even smaller. For the hf folks, there is very very little chance they would be coming here often for advice. They are way too smart to listen to high schoolers give “advice”
So, It would be ridiculous to create an entire forum for 150 new people each year.
What is the drawback to having a separate forum that has relatively fewer posts than IB, PE? There are clearly forums that currently exist with fewer posts, and I don't think people would necessarily want to get rid of them (they serve a purpose). The purpose is to centralize discussion and build communities.
For perspective, look at FASH with 19 pages or CF with 46 pages. Over time, I do see RX/Distressed/Special Sits/Turnaround forum exceeding 19 pages and would probably have a lot more "synergies" as the OP was describing vs. FASH and CF.
IB: 731 pages of posts PE: 123 pages HF: 68 pages RE: 96 pages CO 128 pages TR: 139 pages AM: 83 pages ER: 48 pages CF: 46 pages JOB: 197 pages BSCH: 110 pages OFF: 200 pages FASH: 19 pages
Having a separate forum for RX/distressed could provoke discussions of specific credits/situations, which doesn't really happen in other forums here. Would be a good addition IMO.
lol I guess you gotta have somewhere to house all these "anyone got moyer distressed debt pdf they can share?" threads that pop up every week