Citadel, SAC Capital, Moore, etc.
For these top-hedge funds, are they all pretty much straight macro, or do they also operate long/short or fundamental funds that take banking analysts?
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Citadel and SAC run multiple strategies including macro, fundamental, quant, and others. This is the case with many larger funds. Not sure about Moore.
All the big hedge funds run multiple strategies. You can't run that much money on one strategy.
I-banking is NOT a good route to hedge funds. If you want to work in a hedge fund, you should work in strategy or research (within a major IB or asset manager), S&T, or the portfolio management group at a major money manager.
I heard somewhere that Citadel receives around 500 resumes from students at the top 7 business schools and usually gives 1 or 2 offers.
Brotherbear disagree-banking may be a more natural fit for PE but I know a lot of former bankers working at various fundamental/distressed/event-driven style funds.
Citadel has a lot of employees so I think that both the 500 applications and the 1 or 2 offers are low. Citadel also recruits from undergrad, unlike most hedge funds.
I've seen banking analysts get into SAC + other top HFs... It's not impossible.
Banking analysts are a very small minority at "trading-oriented" funds but quite common at ones requiring you to know a balance sheet.
I have a side question...
How much would a Principal at SAC make? I'm not entirely sure how they're set up over there so I'm not sure where a Principal would fall in relation to the Partners...but a guy I knows is good friends with the a who is the son of a Principal there. Needless to say they are exceptionally wealthy, but he wanted to know how much his dad probably makes. Any ideas or educated guesses??
Sorry to hi-jack the thread, but the question isn't important enough to be it's own topic but I figured the members interested in this thread might have some knowledge.
Regards
Bankers do better than traders at placing into HF's. I had multiple interviews with the top HF's and many from my group turned down offers from the likes of SAC to go to TPG/KKR/etc.
Can we IP ban him? At first he just wrote annoying posts but now he is actually trying to sound serious which could mislead others
I think megafundguy is right to an extent.
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