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Why would you ever leave PE to HF?
Outside of tiger global or something - why move to HF after PE vs stay on as VP or principal make $10-20m of carry over life of fund with an army of associates doing your work vs $500k a year with 1-2 years of unemployment between gigs while working 80 hours a week on earnings previews and reviews
Should I switch firm/industry?
I've been working at a Family Office/PE firm for about a year and a half focused on life sciences buyout. Most people are lots of fun and hours and comp are great. I'm not sure how great investors the partners are though or whether I fit in with culture where people focus on selling narrative vs...
Can you run a hedge fund for 30 years with 1 person only?
Basically a hedge fund is just like a regular Joe's $500 stock trading account but instead of managing $500, you are managing $1,000,000,000.00+ However, the basic concept is still the same (You just click buy/sell on a keyboard/mouse.) So the question is, can you run a billion dollar hedge fund...
MBI
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Realistic Comp at L/S MM-style places?
I want to go the HF route after a 1-2yr banking stint. I want to do this regardless of any answers in this thread, but I wanted to ask this as more of a reality check. See a lot of discussion in this thread about PMs making high 7s-8 figures a year (how many of these there are I'm not sure about),...
Healthcare Consulting to HF
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Point72 Interview
I will be interviewing with Point72 in the UK. Anyone who has some advice or tips on what they ask during the interview and what the process looks like? For the record I have an IB background with over 2 years of experience. I would assume the would ask for a stock pitch and motivation.
Wanting to end up in a HF, but no idea how to get there.
Hi everyone, For context, I'm an upcoming Junior at a T25 school in Finance. I've always wanted to end up working at a hedge fund or a L/S fund. I'm not adamant on forcing myself into a label of "HF" or "AM", being so young and inexperienced. However, I know for certain I want to work on the buyside...
Is stock picking a dying skill?
Hey everyone, As I'm contemplating the next step in my career, I considering if I should take the public equities path as I'm interested in analysing companies and hate all the process-related admin that I did in IB. However, I'm a little concerned that stock picking is a skill that will be phased...
Considerations for working in the Middle East
Hi everyone, Some background about my situation: Have spent 4 years in an EBB in London for a strong sector team (Evercore / Lazard). As of this month, I have left my role and do not intend to take any extended career break. I am considering a career transition to the Middle East, specifically UAE...
Where to learn trading & to build a good track record for a HF
I am wondering where and how to learn professional trading with the goal of having a strong track record, being seen by investors as an emerging talent, and working as a trader at a HF or setting up your own. Additionally I want to use this knowledge for my own asset and wealth management structure....
Worth it to transfer from NYU CAS to UNC?
So I just finished up my freshman year at NYU in CAS, and wanted to transfer to UNC CH mainly for campus. I am planning to major in applied math and cs . Would I be missing out on any high finance opportunities specifically on S&T at banks, HFs , and Quant being t UNC. While I am not at Stern, NYU...
Why do SMs exist?
MM is better alpha (100pct alpha in fact) PE is better return w/o volatility (tech funds are down in publics but privates haven’t been hit at all) index funds outperform almost all HFs
Thoughts on Eisler capital
Does anyone here know something about Eisler Capital. Apparently they moved from a single manager to a multi manager model a few years ago and are now hiring aggressively. Any insights on performance, pay, systems, culture? Where do they stand compared to the more established MMs like Millennium,...
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MFin/MFA/MFE for HF recruiting
Hi everyone, I am seeking advice in order to maximize my chances of getting a position at a hedge fund. I'll share my background: - Bachelor in finance + master's in management in Europe with a great GPA - 1 year in IB in Europe I now wanna break into HF in the US and I wonder what would be the best...
When do you cut your analyst position?
Say your analyst recommends a stock long and it goes down 5% in a week (and their hedges or the rest of sector/market is flat) and they can’t explain why. Do you underwrite the position again? Have them explain why the stock moved? Or chalk it up to noise/ST flows? Maybe 5% is too high or too low...
How to become a PM at a Hedge Fund
Hello monkeys, I am a student at the University of Minnesota. I am trying to decide weather I should major in finance or econ to eventually work at a HF. I know its a non target but I want to know on the best way to get into a HF. First what do you think I should major in? Econ is what im leaning...
HF vs GE (
I’m a few interview processes (multi-strategy large hedge funds and desired sector-focused growth equity think similar size to Spectrum equity). Realizing they’re two completely separate exit opps and it should come down to industry preference, what do both of those look like on a comp, work...
Whose fault is it?
As a PM if I disagree with analyst (eg they recommend a stock and I don’t buy because my PM friend dislikes it, or they recommend trimming and I don’t listen) and they turn out to be right (stock goes up or misses earnings/tanks), how do you attribute fault? one view is that the analyst did not...
Jr vs senior analyst
How does it work for SMs that don’t have the analyst/associate layer that citadel or a platform has? Do jr analyst report up to senior analysts, or is it flat where they all report to the PM/founder? Advantages/disadvantages of the layered vs. flat structure? In a flat structure what...
Do you have a mentor? How did you find them?
For background I am finishing my first year of university and looking to break into the HF industry but not really sure what the best route is, so trying to find someone willing to mentor me. I was wondering what your experiences were with mentorship, how you developed the relationship, and what...
Decks/memos
How often do you or your team work on memos for new/ongoing investments? Have heard of initial memos of 100+ pages and on the other extreme no memos because it is just walking through models and inputs. Would imagine the former more common for SMs and latter for MM but curious what people styles are...
Interviewing unemployed analysts
Is it common for unemployed analysts (who left their old firm because of culture, fit) with a good reputation to be selective in who they join? I would have thought these analysts would take anything they can get but hear stories of them rejecting interviews, final rounds etc because of stories of...
Why are ppl impressed by 15% returns?
People talk about big HFs w/ 10-15% returns. How is that impressive in any way especially considering leverage and data used? I have friends who invested with a lot of AI stocks, FANG, stuff like GME, that are up 100-300% this year and basically made more than some of these big hedge funds over 10...
Strategies for Achieving $1 Million Monthly in Finance
If you were back from the beginning of your career in Finance and had a goal of making $1 million a month at some point in your life, how would you approach it based on what you know today? I was thinking of the following options: 1. get equity in one or more PE deals or privately seek deals on your...
Typical HF Intern Hours. What Should I Expect?
I was looking at previous forums for this, but was wondering how much hours I should expect a week working as an intern in SS at a fund in NYC. They said we should expect a 40 hour workweek, but I wouldn't mind putting in overtime (especially given the 1.5x), and would like a better sense of both...
Good “low key “ SMs
What are good $2-5bn funds in SM world with good returns/culture/investment process? Looking for funds outside big names ppl talk about there
BB Structured Credit Trading vs HF Quant (non research)
Hi Guys, Currently a sell-side quant (very bored with his job), I have been quite lucky to get two offers: one as a structured credit trader at my bank (top BB), the other as quant dev (so not researcher, at a good but non-top HF) with the promise of being able to transition to quant research in 2-3...
MMHF perf YTD
I havn't seen figures about MMHF YTD performance in this forum or on BBG. Could you guys give me an idea? In order to start contributing, I know from internal sources that MLP is flat YTD. What about the others?
Multi Manger Pod Portfolio Number of names
Hi - Simple question - for those running or working in pods in typical market neutral multi-manager platforms like Citadel, P72, Millenium, etc., - what is the typical number of names in your book on long vs short side and usual average size as % GMV with max/min limits? Thanks.
Pros & cons of jumping to PM from senior analyst / sector head role?
Hey all - how do you guys view the pros & cons of making the jump to a PM role from a senior analyst role? I'm more referring to being at a MM with P&L allocation (call it $200-$300mm in your names) as a senior analyst / sector head (with an agreement with the PM on payment terms) and making the...
Why do investors care about stupid stuff?
Sometimes when you speak with investors they focus on stupid minutiae like customer concentration, valuation with lease adjustments (wtf?), SBC and other crap. If the only thing that matters is whether they beat earnings or not isn’t that useless? 80/20 focus on what makes stock up or down! Not...
What is difference between VP/MD/analyst at HF?
Some firms have senior analyst (or just analyst), others have MD/VP/Sector Head titles. How to differentiate between what that means for responsibility, economics, investment decision authority? I know most HFs have the PM/analyst distinction, but what is the right way to think about continuum of...
Ask a credit H/F analyst anything, just trying to help
Hey everyone, I've been at my current firm for a year now, and I wanted to take the time to help anyone on this forum who might be interested in credit HFs (just to kinda give back yknow). We do all sorts of fixed income related work, and I focus on distressed credit as well as general l/s credit....
Multi Manger Pod Portfolio Structure
Hi All - basic question here - work on the SM side now. Obviously, there is significant variance on SM side on how portfolios are structured - no. positions, sizing, exposures, etc. Curious within the confines of a typical MM Pod in market/factor neutral exposure level. Is portfolio structure number...
Were Buffett, Soros, Peter Lynch, Julian Robertson good investors?
Lot of ink has been spilled about these guys (along with other investing “legends” over the years). But think a lot of them either made huge bets that worked like soros or made $ riding beta. None of them did it through idio-stockpicking with actual factors restricted. In that context a good PM...
Seeking MBA summer internship late in the process
I am a first-year student at a T10 MBA school. I have been actively pursuing summer internship opportunities in the HF/AM field (equity research) and have reached the final interview stage with a few firms, including a highly sought-after HF. Unfortunately, I was unable to secure an internship...
Getting smarter in structured equity and credit
Hi all, Currently in banking but will be starting a new PE role this Summer. The firm I will be joining invests across the capital stack and does a lot of structured equity and credit investments. I want to spend the next couple of months getting smarter in this space and was wondering if any of you...
Top Quant Masters Candidate: which near-term "Path" makes the most sense?
I recently got accepted to a top ranked FinMath/FinEng masters program and want to work as a buyside quant researcher or analyst when I graduate in 2-3 years (not necessarily at a "top" firm; very open to smaller/boutique HFs). My masters is being done part-time so I'll still be working until then....
Funds that publish good investment memos?
Don't know the hedge fund scene extremely well but started reading some of the public reports Hindenburg posted and thought they were pretty interesting. What funds publish public (and free) investment memos on their website? Would love to see more dense stuff if possible. Stuff I can get on CapIQ...
Mandara Capital - OTC, Voice-Brokered Oil Derivative Trading: Thoughts on the company?
Hi everyone, I was wondering if anyone has any knowledge about Mandara Capital (oil derivatives trading)? For example, if it is a good company to work for, what kind of salaries one could expect as a trader etc. Thanks in advance
Physical Coffee Trading
Afternoon fellas, Hope everyone is well. I was just wondering if anyone has any information generally on working at a top physical coffee trading company (Sucafina, ECOM etc.)? More specifically, I'm trying to get more information on: 1.What is work/life balance like? Is it exciting to work in and...
Equity Analyst Bullet Points on Resume?
Hi, I'm currently L/S equity analyst at a large MMHF. I got approached to move at a competitor and they asked for my CV. My contact there suggested some changes to my resume and deleted almost all my bullets points for my work experience section because "everybody knows what your job is, your...
USC or WashU
I have to decide between USC and WashU within the next 2 days, so I was wondering what you guys think. I would like to go into IB/consulting/HF/PE, but I'm also interested in other finance and tech careers. How well do both schools do in these fields and which school should I pick? Any advice is...
Career Trajectory post Bridgewater et al?
Undergrad student interested in working at a fund like Bridgewater. Have heard that culture is extremely brutal with a lot of their analyst class leaving within a year. Have also heard that working at a macro focused fund like Bridgewater can pigeonhole you. Curious to hear opinions on what one can...
Sell-side analyst when to move to buyside
I'm a first year analyst in trading. I got approached by a couple headhunters for junior trading roles in HFs, which I'm a bit surprised/confused by as they don't have any record of my reputation/pnl except my college degree and company name. I enjoy my current job, eager to work but think it can...
HF Cultures
Outside of the MMs (where it is PM dependent) what are the firms with good versus poor cultures in the single manager side? Have heard lone pine and darsana mentioned favorably here, what other names? Who has bad culture or tough culture? Also - what does good/bad culture typically refer to? I am...
Leaving industry - mid 30s
Looking on LinkedIn, seems like a ton of people leave the industry by 35 (both SMs and MMs, across analyst and PM roles). The ones who stay past 40 are all in PM or senior level roles. Is this because they get pushed out/can’t move up? Because they have made enough money that they can retire?...
perm credit risk analyst to contract role at HF
I am currently in a reasonably steady perm job - corporate credit risk analyst at a BB, and I just bought a small house. There is a potential role in FO at a small HF who do fundamental distressed debt. It is a contract role though 3-6 months to build a valuation tool in python. Before this, my plan...
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