High School Internship in IB or HF (please give feedback on my credentials)

Hey all,

Before any of you guys dismiss me as a 16 y/o that wants a job on "Wall Street" (i dislike when people use the cliche "I wanna work on wall street", so annoying), I've provided some credentials below and my rationale for choosing this career. Please take 2 mins out of your time to read this through. Thanks everyone

I am currently a junior at a nationally ranked high school in Northern NJ (10 mins away from NYC). In my high school, we choose a 4 year major, and I chose the business major. Some of the classes we take are Macro, Microeconomics, Harvard-backed analyses of failed corporations, technical/fundamental trading, derivatives, portfolio management, college-level accounting, etc. These classes are very rigorous and catalyze students to succeed in finance. In my free time, I trade (have been, for around 1.5 years), read on finance, Bloomberg, study Python/coding (would like to build an algo), etc.. I also take a number of other rigorous classes, participate in a lot of after school activities (VP of Student Council, President of United Nations Club, etc.) and have very good presentation and public speaking skills.

When I trade, I use Macro ETFs, trade on emotional arbitrage, distressed corporations, and general technical analysis. Although I have had my ups and downs I think that I have gained a ton of valuable info on stocks etc..

*I am 110% set on finance, specifically Hedge Funds. I understand that it is easier said than done, so I would like to start off at an internship in general finance/investment. My school offers Wednesday internship programs, where all the seniors leave school to go to their internships (this is a graduation requirement).
*
Please let me know what you guys think, and how I could get an internship as a high schooler. Thanks a lot

David

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Comments (27)

Mar 8, 2017 - 9:31pm

r u at bergen county academy for business and finance

"Truth is like poetry. And most people fucking hate poetry."
Best Response
Mar 8, 2017 - 10:15pm

Hello Tas,

In terms of the hedge fund industry, I think that it is entering a trough, although it is in long term growth. There is really no financial instrument like a hedge fund. The ability to short, leverage, etc. and the notion people that are managing money having some skin in the game and the general incentive program to manage risk, cap losses, and increase returns is highly capitalistic (in an extremely positive way). I think that hedge funds have a business plan that overall, has the potential to perform well in variable market conditions. Back to my first point, HFs are in a trough because the whole market is going up (esp. since the Trump election). Since the beta is so high, squeezing alpha is difficult on a large scale. Once the market cyclically adjusts, HFs will most likely perform better than any other financial instrument, in my opinion. HFs have prevailed historically (after/before booms and busts, re: 2008, 2001, etc.) and I think that they will continue to do so. Actually I am currently conducting a needs assessment research of SEC Rule 501 of Regulation D that prevents people that would be considered the "middle class" from investing in HFs. Hopefully I will get published by the end of this year, and will keep you posted.

In terms of my performance, I've noticed that my returns are consistent when the market moves sideways (a climate in which most HFs lose money) . For example, the month before the election the dow moved around a percent or two -- I made 12% trading Dow ETFs. On the other hand, I lost a large chunk of that alpha when the market went up after the election (I figured out that mistake -- don't let your emotions get ahead of the market's behavior). For other strategies, I've made returns on distressed corporations (i.e. Kate Spade (~25%) Tempur Sealy (~20%) Denbury Resources (~40%)).

Thank you for asking and please let me know how I can advance these interests via internships.

David

Funniest
Mar 9, 2017 - 11:44am

U got that from Vickers.. Work in Essex County, Page 98, right? Yea, I read that too.

Is that ur thing, u like to read some obscure passage and try to pass it off as ur own- just to impress some girl and embarrass my friend?

Mar 8, 2017 - 9:54pm

I wish high schools in my area prepared you as well as yours is. My high school didn't even have an intro economics course... The most interesting course we had offered was cooking. I know it's not related to your question, apologies about that.

Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.
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Mar 8, 2017 - 10:54pm

Asking what we think Is completely pointless because what I think of your credentials will In no way affect you. I think if your looking for an internship your best bet would be to shadow or do an informal one as a rising freshman, that's what I did and helped me get my foot in the door. Focus on getting into college, keeping your grades up, and getting a high SAT/ACT you have plenty of time to intern. But as a senior, don't expect much of a structured program just look for what ever you can that's finance related and start building a resume. But trust me when I say junior year of high school is early, its really fuckin early.

Mar 9, 2017 - 6:50am

Hey proptrader101,

I can understand that some think that a high school internship is too early. I think that after speaking with some college students, the workload (both quality and quantity) that I am balancing right now models a high-ranking university. Therefore, the literal age barrier is an issue (being 17). In terms of standardized testing, getting into college, etc. I have that in the works for sure. I agree that it is better to have any finance internship than no internship, but like i said before I think that my school's Wednesday program is a great opportunity for me to get real experience. I'm worried that in the 21st century, especially in finance, careers are built early on, and that the most successful people in finance in 30 years have had internships in high school etc. (or maybe they just had connections via parents, etc.).
My bad if I come off as extremely ambitious, I just think that as someone with limited connections an internship next year would be a major catalyst for my career..

Thanks

Mar 9, 2017 - 8:20am

Never apologize for being ambitious, kudos to you for thinking ahead and being ready. Definitely take advantage of that Wednesday program. Make sure you get into a good school and hit the ground running w/ that same ambition.

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Mar 9, 2017 - 12:39am

David,

I know JP Morgan does summer internships for high school students from NYC (I'm not sure if this applies to the city alone or to the metro area, too) and a more general one in the summer for everyone else. You seem like a good fit for that, and it will definitely make your resume stand out even more.

Mar 9, 2017 - 9:25am

Hi dcrowoar,

Thanks so much for your suggestion. I looked the program over, and it looks extremely appealing. It's the only JPM high school program in the US, and applications are currently closed. I'll keep my eyes on it. I'll also look over other IB programs, maybe GS has the same type of internship opportunity. Let me know if you have any other ideas, or know people who can help me out.

Thanks
David

Mar 9, 2017 - 2:30pm

1) Chill the fuck out.
2) Chill the fuck out.
You're too young to trade so even if it is true (which I doubt it is) no one will take it seriously. I have also never met any freshman (nvm high schooler) with good modelling skills (these skills come from work exp and work exp only). 3.1 GPA is mediocre at best. Since you mentioned studying in the UK Im assuming its International Baccalaureate, and the program isn't that demanding.

Tl;dr
You're 16. Enjoy your summers, go have fun.

Mar 9, 2017 - 2:32pm

1) I believe you're mistaken. 2) Junior, not a freshman. 3) More like 17, not 16. I know it doesn't make a big difference, but still. Thank you for a reply though!

Mar 9, 2017 - 2:33pm

So I should wait until college? Would any type of experience in banking, not necesserely IB still be benificial for the future (when it comes to c.v's, etc.).

Mar 9, 2017 - 2:36pm

Out of all the cool things you can do at that age; You want to spend your time sitting in a bullpen staring at financial models or looking at a bloomberg terminal?

How old were you when you sold your soul?

I think- therefore I fuck
  • 1
Mar 9, 2017 - 2:37pm

Well, I do have a lot of other interests as well. However, I discovered the stock market when I was 9 and later I started studying about it. I spent last few years reading and practicing investing, trading, modelling,etc. That's how I got motivated to one day persue a career in IB or HFs. Take it as you want, we all have different interests, this is mine.

Mar 9, 2017 - 2:40pm

Yes, I heard about this story. It's quite interesting. However, if you look at it from strategic and statistical point of view, about 90% of hedge funds fail within the first year. Do you really think you can get people to invest in your fund (especially larger sums) without having some kind of corporate background despite being a good investor. That's why I prefer to gain some professional experience before as that's the only way to gain trust of the investors, I think you would agree.

Mar 9, 2017 - 2:41pm

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