What are the most unconventional paths to HF you have seen among research analysts? The conventional ones include equity/credit research, IB, MBB, S&T.
Anything else is fair game. This can be for any fund $300MM+. Anything from corporate strategy to operations to boutique consulting
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I know of a guy (Billy Joe) who went to Michigan with the intentions of going to law school. To set himself up for a nice career behind the desk, he ended up studying sociology minoring in philosophy. His freshman year, he had a random roommate (Aziz) with whom he ended up pledging a frat with. Aziz's brother, Jesse just got into a fund and came to UM games quite often. Billy Joe ended up being the house bookie and took bets from Jesse. Jesse ended up being so indebted to Billy Joe that he offered Billy Joe an internship for his sophomore summer that should provide enough money to cover his debts.
After really liking it his sophomore summer, the fund invited him back for his junior year. Thrilled with the money, he said okay.
He came back the next summer having read up on the industry, took the WSO courses, the whole nine yards. He ended up being so good that they offered him a full-time job! Unbeknownst to Billy Joe, once he accepted the role, they fired Jesse because Billy Joe was taking his spot!
Now, it is like ten years later and Billy Joe makes cake and wants to become a fly fisherman because it is a stress free life.
TLDR: Kid studies Sociology/Philosophy and gambles his way into HF
Damn, that's pretty crazy. So did Billy Joe quit now after making bank?
Haha - he became a gym teacher!
Corporate lawyer to HF research analyst/PM.
Is this yourself? Do you mind me asking how you/the person made the leap? That sounds amazing
I've seen some special sits guys take that path
Podcast some of you have probably heard of.
This aussie dude drops out of university, reads a bunch of books, bumps into a manager and wows him with his knowledge. Got a job with the fund, then went on to start his own.
Stuff of legends.
Bill Ackman once hired his fishing instructor as an analyst.
https://www.forbes.com/sites/monteburke/2012/06/29/the-fishing-guide-wh…
this is an incredible story. I have followed oliver white on social media for years, completely unaware of his stint with Ackman. further proof that fly fisherman are the coolest god damn people in the world.
I know a guy who went from BO HF to analyst. Very rare but a very smart guy. The back office role got him an interview and an internal recommendation as a hard-working guy and the rest is history.
This thread has a bunch of anecdotes:
https://www.wallstreetoasis.com/blog/routes-to-buyside-pm
I know someone who went from political analyst at an intelligence agency to a global macro fund. Uncommon background, but not entirely inconceivable.
Did they do this through networking or B-school? And do you think it's possible for say a L/S fund?
Know someone who started their career as a journalist and ended up managing a couple billion as a PM at a top HF. That story made me realize that things really do work out and if you're meant to end somewhere you probably will.
+1 SB. How did they make the shift? B-school or straight networking into the fund? Is this a funademntal/L/S equity hedge fund?
bill ackman's undergrad degree was in history
few interesting stories:
college dropout, top prop trader at a BB, partner at a well known HF (before 25), partner at tier 1 hedge fund, left it all do something more entrepreneurial and is killing it again... dude is a legend.
many BO to PM at tier 1 hedge fund stories. it isn't rare, and they're some of the best traders out there. typically do a stint in risk mgmt, execution trading or strategy before jumping into a PM seat.
in terms of well known stories i think Kovner, Burbank and Griffin are the most out there...
There was a Senior PM at a $12bn credit hedge fund I met once who said he was a tax accountant before joining, which I thought was an impressive leap
That is very, very impressive. Do you know how he made the leap?
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