I'm a banking analyst and I did an internship in PE and I liked it but I think there's more opportunity in the public markets and I want to have autonomy (and high earning potential) earlier in my career than post-MBA PE. From what I've read on VIC I also slightly prefer the hedge fund stock picking process to the PE business planning process.
So I'm in the very early stages of trying to have conversations and learn the HF industry and how to pick stocks. Luckily banking and PE does prepare you well for this. But I see that Tiger Management founder Julian Robertson said this:
"As you have heard me say on many occasions, the key to Tiger's success over the years has been a steady commitment to buying the best stocks and shorting the worst," Robertson wrote. "In a rational environment, this strategy functions well. But in an irrational market, where earnings and price considerations take a back seat to mouse clicks and momentum, such logic, as we have learned, does not count for much."
So is there a future for non-quant hedge funds? I've seen people on here talking about how with HFT and quant market making at shops like Citadel, or the firm that Getco became traders can "pick up pennies" and make money with probability almost one.
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