Have you ever changed your strategy in the HF industry? Need help pls

cm45's picture
Rank: Monkey | banana points 30

Ladies, gents,

Been with a large HF for 3 years, but strategy is trading heavy and not necessarily based on fundamentals. I want to do a value-based strategy instead. Point is how to get there. Either I educate myself or I thought of even doing an MBA a la CBS (value investing programme in 2nd year).

Any thoughts from you guys in the HF / investment mgt industry?

If you ever changed strategies, how did you get there?

Thanks

Comments (3)

Oct 30, 2017

Hi cm45,

If you can get into and are up for CBS, defintely pursue that. It's merely anecdotal evidence, but I know a handful with a non-hf background who went directly to fundamental L/S equity hf's out of CBS' value investing programme.

i) From my experience, L/S equity hf's (I assume this is what you're pursuing) care more about your capabilities, rather than your experiences. Point being, if you can get an interview, then it should be sufficient to be 'self-taught' in terms of abilities.

If i) is not possible, then I suppose the natural way would probably be to do equity research or any job with company-level valuation models (including but not limited to traditional investment banking), really.

Apart from that, sitting the CFA exams could help, although it's really not needed. Lastly, - and this is obvious - be sure that it's actually L/S equities that you want to do. If so, then go prepare a handful of both long and short investment cases, including valuations and peer analysis and why the company will out/underperform to its peers. If you can do the latter in a compelling way, then you're already very far.

I hope that helps a little. For background information, I myself have hf experience within global macro and am looking to move into L/S equities.

    • 1
Oct 30, 2017

Hi, as I said I have worked for a HF in equities for a few years already and before that worked in investment banking. I think moving back to the sell-side does not make sense at all.

Just wonder if CBS MBA that take 2 years could not be replaced by self-study. Any thoughts?

How do you prepare the move?

Oct 31, 2017