building summer projects to use in resume and recruiting

Recruiters do care about personal projects, especially when you lack formal finance experience. Based on the most helpful WSO content, here’s how to make your projects stand out and present them effectively:

1. Refining Your Projects

• Trading Algo: Highlight the process, not just the results. Discuss the challenges you faced, how you identified and fixed problems, and what you learned. Recruiters value intellectual curiosity and problem-solving over claims of success (e.g., avoid boasting about a "Sharpe 10 algo" and instead focus on improvements and insights gained).
• Paper Portfolio: Use this to demonstrate your understanding of risk management and investment thinking. Include stock pitches that are well-researched and actionable. Avoid overly common ideas or pitches that don’t align with the scale of the firms you’re targeting (e.g., pitching a $200M stock to a fund with a $100M minimum investment).

2. Talking About Your Projects

• Be Humble and Honest: If asked about your projects, focus on what you learned rather than trying to sound like an expert. For example, discuss how you approached risk management or how you analyzed a company’s value drivers.
• Tailor Your Pitch: Customize your explanations to align with the firm’s philosophy. For instance, if the firm has a long-term investment focus, avoid emphasizing short-term trading strategies.
• Admit Weaknesses: It’s okay to acknowledge areas where you’re still learning. Saying “I don’t know” is better than making something up.

3. Resume Presentation

• Focus on process over results. For example, instead of saying, “My algo outperformed the market by X%,” write something like, “Developed and iteratively improved a trading algorithm, identifying and addressing inefficiencies in strategy.”
• Highlight skills and insights gained, such as data analysis, coding, or understanding market dynamics.

4. Additional Tips

• Stock Pitches: Always have 1-2 solid stock pitches ready. These should be comprehensive and demonstrate your ability to dig into filings, analyze data, and form a unique perspective.
• Networking: Use these projects as conversation starters during networking events or interviews. They show initiative and genuine interest in the field.

By focusing on the learning process and tailoring your approach to the audience, you’ll come across as knowledgeable and passionate without seeming arrogant. Keep building and refining your projects—they’re a great stepping stone for S&T recruiting!

Sources: https://www.wallstreetoasis.com/forum/hedge-fund/advice-on-hf-recruiting?customgpt=1, Breaking into buy-side equity research - my experience, Advice on HF Recruiting, Differentiating yourself for hedge fund recruiting (post-IB), University Career Fairs: How Not To Fuck Up