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Mid-Career Buyout PE -> FO Equity L/S
Just wanted to try my luck to pick your brains on potential prep regarding an upcoming Equity L/S interview I have... Background: 7 years of experience (3.5 in IBD - Financial Sponsors, 3.5 in PE - buyouts); a billionaire who made his money in HF/tech investing is planning to set up a new FO HF with...
Have people on this forum lost their minds?
Or am I going crazy? The last few posts here have been comparing Blackstone/lone pine/tiger to MM analyst seats and the answers were basically 50/50 between them? I would have thought the former jobs 100% but has perception/reality changed that much since 2020? There is a group of ppl here that...
B-School Exits from MMHF?
Basically title, what are B-School placements like out of places like Citadel/P72/Millenium if you started out of UG? Also how possible is it to pivot to SM HF afterwards?
How to develop a Investing Philosophy
I am currently a sophomore, and have been interest in investing for quite some time. I follow the markets closely for the last two years and have read all the typical investing books, about different investment styles and philosophies. I am still not sure, which one is the best fit for me, therefore...
Is ER to SM HF Impossible?
Ok, obviously its not impossible, but everyone on this forum suggests one way or another that its either IB or nothing. I have scanned several notable SM HF employees on LinkedIn, and only a minority of them have previous IB experience. Can a pro-ER intellectual please reassure me that my HF dreams...
Large AM to small hedge-fund?
Hi all, I work in a large, very well known asset manager (strategist type of role, macro/FICC). I have an offer from a small hedge-fund (1-2bn USD). Because the HF is small, I see it as a riskier bet than a larger hedge-fund (potentially worse risk management as there is fewer people, and in general...
Hedge Fund Trader - opportunity to pontificate freely
As a second year sell-side FI trader, I'm looking for some insight on what a hedge fund trading role actually looks like. Equity vs Credit vs Whatever else. I'm sure the physical job appears similar if I were to watch you perform said job, but I'm interested more in the details. Would love to see...
Pod guarantees
On average, what are the guarantees or offers at the senior analyst or jr PM level for analysts or sector heads at SMs moving to a citadel/Point72? Excluding buyouts of deferred compensation and the outliers where a star from a top SM is being poached and getting a big book on day 1.
Boston University or Babson College
Hey y'all, I might not be the most intelligent person in this discussion compared to other deciding IVY league school, but I wanna work in finance (IB, Hedge, Private Equity) and I was wondering if anyone has a suggestion on which of the two schools I should attend? I know both school have people...
Bracebridge/Citadel vs. EB
Hey everyone, I've been fortunate enough to land an offer at both a top NY EB (think EVR, CVP, PJT) for M&A and an investment analyst position at both Bracebridge and Citadel (equities). Wondering if anyone can shed light as to what will be the better choice in terms of 1) work culture and...
Earnings Calendar
Hi, what source are you guys using to establish an earnings calendar (IR website one by one, broker, dedicated website)? We used to take one of our brokers but we found out we were missing some reports. Thanks much
European Activist Fund - Interview
Dear WSO community, I come from a Private equity background, however, I have an interview at a rather big European activist Fund coming up, which I'm quite excited about. However, I am unsure how to prepare since there is not much information online, and no alumni from my uni have been there. If you...
Best L/S Equity Seats
What are the best long/short equity seats to have right now across single-managers and multi-managers?
Syracuse Honors vs Rutgers Honors vs Fordham
I have been admitted to the Rutgers business school and the SAS honors program, Syracuse Whitman and the Honors college, and Fordham. I plan to work in the risk field but I also want to give myself a shot at IB/PE. Fordham would be the most expensive, being 80k more than Syracuse. I got really good...
Citadel Discover
I am doing the Citadel spring programme called ' Discover'. It has a quant challenge. What can I expect to have on it? How do I prepare for it?
Hedge Fund Tweet
Noted a tweet by @InvestorTurf regarding a fund - the tweet stating there is public information out on a top fund. Is this the best way to make a major statement regarding a major market transaction? I am interested in hearing any additional updates or information on this tweet and whether this is a...
Top Hedge Fund Gigs Out of Undergrad
I just wanted to know what people who actually work in the industry and who have gone through these programs think are the very best fundamental HF gigs out of undergrad.
Breaking into Hedge Fund/ Equity Research/ Buy side Finance
Hi guys. I am undergrad at a semi-target school and have a GPA of 3.45, which will be above 3.5/6 after this semester. I have an internship for this summer at a financial services company in Chicago. I am interested in working full time after college at a hedge fund/ PE/ Equity Research right after...
Citadel Associate Program Quality vs. BB/EB summer analyst
I'm a student at a target with exploding offers at Citadel for their CAP summer associate program and at a top EB for summer 2024. I was initially interested in long-term value investing, and wanted to exit from EB to PE, then to HF, but this program seems interesting. It was surprisingly easy to...
What is it like to work in the Middle Office of a hedge fund?
Hello monkeys, Have any of you worked in ops at a hedge fund? Would love to hear your experiences! How was the culture? What kind of work did you do? How does it compare to BO roles in other asset managers? What sort of people generally work there? Thanks!
Sub-PM / PM Negotiations & Career Advice
A few negotiations & career questions for the community, would really appreciate some colour and help: - can you advise on negotiating strategies for sub-PM / PM terms on main MM platforms (e.g. having competing offers on the table, exc.) - on point above : which terms would be n.1 priority (i.e....
Q&A: PE Associate to MBA to HF Analyst
Hi all - I'm a 1st year analyst at a concentrated, $1bn+ HF. My background: Semi-target = > MM IB = > MM, Nichey PE (~$1bn AUM) => Top non-H/S MBA (think Columbia, Chicago, Wharton, NYU) => $1bn+ concentrated HF Throughout my career, I have doubled down on sector expertise in an industry that is...
How to cope with the lack of guidance?
Fresh graduate who is currently working at a SM L/S hedge fund (first job out of uni) for a couple of months now. While I can ask my senior analysts and PM's questions every now and then when they're free, there's generally not much guidance or a structured framework to follow for the investment and...
Top Credit Hedge Funds (London)
Looking for some colour on long credit hedge funds in London and what pay and compensation would be at the VP level. Also how these firms differ and anything on culture. Names that come to mind: Anchorage, Angelo Gordon, Albacore, Arini, Diameter, Fortress, King Street, Och-Ziff/Sculptor, Oak Hill,...
Where can I find MBA summer internships?
I'm a first-year MBA student at one of the top schools outside M7. I have a previous buy-side equity research experience outside the U.S, and now I'm looking for summer internship in HF/AM equity research. I've interviewed with five AM+HF so far, but I haven't secured an internship yet. I knew this...
What IBD Industry Team for L/S exit?
Hi all, I'm joining a BB bank and I am wondering which industry team is best to exit as a L/S Analyst at a Multi-Manager HF afterwards?
How do y'all feel about the STEM Masters Degree career pivot into HF
I'm seeing a handful of folks I know in various finance (or finance-adjacent) fields (banking, consulting, research, sometimes even tech companies) enroll in masters degree programs like Computational Mathematics, Financial Engineering, Financial Mathematics, Data Science, Computer Science, etc with...
Hedge Fund sale
Hi, I would be interested knowing how to seek clients for selling a hedge fund structure too. I have helped clients setup funds in the past and they have generally been satisfied with the structure itself, though their success or failures varied depending on their personal ability to raise funds or...
5bn book at MM HF
Hi, I'm in the process to join a L/S equity market-neutral 5bn-book (1PM, 3 senior analysts, 4 juniors) at a MM HF. I never heard about this kind of AuM, it sounds crazy to me and I want to sound credible while talking to them. 1) Is it possible to be fully invested with this AuM/person? What would...
RE hedge fund preparation material
I am about to start as Analyst in an illiquid credit hedge fund with a focus on real assets. Any advise on which books to read before starting to get prepared. The job will be in London, so would be great if not focused exclusively on US market and practices. Thanks!
Is it normal not to be able to reconciliate historical financial statements of companies?
Hi, as the title says, I'm training my modelling skills. I have no problems projecting the statements but reconciliate the statements in a dynamic way is impossible for me. It looks like companies are changing a lot of lines. Is it normal ? Thanks
Stock pitch structure
Hi, I'm currently interning at a large MMHF in a L/S equity team. I have a interview coming up at Point72 with my potential future PM and I'll have to pitch him some stocks. Do you guys have a common structure for the stock pitch ? The mandatory steps to follow Thanks for your help
Centiva Capital
Relatively new MM based mostly in NY, with some presence in California and London. Anyone heard anything about them that they can share?
Sophomore Breaking into S&T
Hello, I am currently a sophomore from a non-target. I have a strong resume of being in the largest undergraduate investment fund in the U.S. As well as being in another undergraduate investment fund that is partnered with the best universities such as Harvard, MIT, Penn, and LSE. I have a weak GPA...
BofA IBD OR Man Group Investment Management Summer Internship London
Hi everyone, I would be appreciated to receive any advice on choosing between the two London summer internships: 1. BofA IBD; 2. Man Group Investment Management.
valid reason for buyside -> ib?
undergrad sophomore, I have 2 buy side internships on my resume rn and am recruiting for IBD 2024. I've been trying to craft for my story for interviews but don't really know how to explain why I want to start my career in ibd rather than continuing with buy sid any suggestions for valid...
Anyone Know Anything About Point72 Modeling Tests?
I have a modeling test coming up with Point72 for a research analyst position on a L/S equity portfolio. Does anyone have an idea what it will be like? Recruiter said it would be a timed, 45 minute exercise. Also, they mentioned a cognitive test similar to a Wonderlic. Any color on that would be...
WSO HF Course
Anyone taken the HF course offered by WSO? Is it any good? What other resources did you use and how does it compare?
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Very Keen, Help Requested: HF Prep Sources
So coming up to the end of my 2 years and I was in a very fortunate position to have some options in terms of MM PE etc. but have instead decided to take a break, refresh and explore HFs. Current experience is in generalist M&A (all sectors minus O&G, Infra/Renewables). Transaction experience mostly...
Overpaying analysts
How do PMs balance between overpaying analysts (to the extent they get lazy and complacent after a big year because they have already made $X millions) but not underpaying so they leave? I would imagine that after a huge payday one year an analyst is less likely to stick it out as soon as the...
Why do LPs invest in HFs when PE is less volatile and better returns?
Makes no sense to me. PE has 15-20% IRRs, especially in software and tech (looks at Thoma or Vista), and HFs are down 40-50% esp those who have a ton of growth exposure. Why would any sane LP invest in the first over the second especially when PE also doesn’t have nearly as much volatility? Or...
Brevan Howard NYC?
Any insights on this firm? I know it's mostly global macro but is now diversifying its pods. Would love to hear more from any analysts or formers.
SA Back Office HF -
Hi all, long time reader, first time poster. I hope you guys can help me decide what to do. I am an incoming SA at a DE/Citadel/P72/MM type hedge fund. I go to a really mediocre school but, regardless, landed a S&T job at a BB last summer in NYC, and am heading for HF next summer. I went crazy with...
Feeling lost in front of the extent of the knowledge necessary to be a good Equity Analyst
Hi, I'm equity analyst at one of the top MM HF since 1 year (my first job). As the title indicates, I have difficulties being confident in my abilities to be a good analyst. My boss seems happy about my work but when I read WSO topics talking about use of alternatives data, advanced investment...
How to not get lost in the sauce?
Hi there, The world of finance is huge and I'm having trouble narrowing down what specific industry I want to go into. For example, hedge funds are my goal but do I pursue quant, research, trader, PM? If anyone can provide clarification that would be great as I have many questions and hope to learn...
MM PM vs SM senior analyst
most of the conversations here have been joining MM vs SM at the jr analyst level. But curious which you consider a more attractive path: stay/get promoted at traditional multi billion dollar SM vs move to a MM as a junior PM. I assume that there is a risk/reward component, as well as a “what do...
Interviewing at an other fund while working full time
Hello, I'm working as equity analyst at a MM HF and I'm looking to move. How do you guys manage to pass your interviews (that generally happens during working hours) without getting caught by your boss ? I already took some day off to interview but it's not sustainable. Thanks
Interview Qns MLP/Baly/P72
Hey guys, looking for some colour on the interview questions that the PMs and BD teams might ask when they're recruiting a new analyst, particularly for HFs in Asia (think along the lines of MLP, Baly and P72) coming in expecting the usual: Resume Walkthrough Market Colour/Trade Ideas Some...
Someone please help me out to make a choice between 2 Internship offers
I am from India pursuing Bachelor's In Accounting and Finance (B.A.F) in my second year presently ,its a 3 year course.I am in top 10 percentile of my class academically and have alright extra curricular (part of BFSI Club in college, 2-3 case competitions) , I was actively looking for internship...
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