First off I wanna thank everyone on this forum that helped me. Im going into at an a large mutual fund and i have been wondering what I should focus on. Is it best to focus on news & current events or leaning how to develop a truly original & sound thesis. I have been stressing over the thesis and would love some outside opinions on how the pros do it. Thank you for your help
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You're never going to be able to develop a credible thesis as an intern. Learn stuff. Understand how to be a good supporting player. Think more Luis Sojo than Derek Jeter. Do whatever they tell you to. If asked to get the mail, get the mail. If you're lucky you'll have access to a good datasource like Bloomberg, Morningstar Direct or FactSet. LEARN IT. Even if you don't get a return offer even Zephyr StyleAdvisor is resume material. (Zephyr's crap, and stuck in the 90s) Nobody knows any of the datasources 100%, even the people that work there, and I've flagged issues that their programmers are still working on. Get good enough to talk a good game on what you CAN do with them though, while admitting that you can't do everything.
I heartily second all of this.
To the OP - your goal is to learn - know what's going on in the world, but ask questions. Listen to updates from analysts. Get to know how people think, evaluate the markets and candidly how to actually do the job vs. whatever you read. Make sure you network as much as possible - but just absorb everything and where you can find a weak spot, or a need, help out as much as you can.
I remember when I first graduated, ended up helping out our fixed income desk with what amounted to back office stuff - working with brokers on delivery instructions, making sure trades settled with banks and any other ad hoc stuff PM's or Traders wanted - which most of the time was not particularly interesting. What WAS really cool in retrospect was getting a front seat to many of the trade ideas thrown around, access to strategy meetings and calls - learning how to think, or not to depending on how you looked at it, along with the actual logistics of the work.
Anyway - stop preconditioning yourself. Enjoy your time and I hope that it goes off as planned with all this madness.
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