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Hedge Funds & Argentina's Debt Heads to SCOTUS, Wait, What?
A while back, I wrote a lengthy piece about Argentina's blue market, their black market for dollars, which tended to be rather different from the official exchange rate. Why there was such a gulf between the two, at the time, was what I was trying to figure out. My findings pointed to outstanding...
Hedgies Wild About Citi
mod (Andy) note: "Blast from the past - Best of Eddie" If there's an old post from Eddie you'd like to see up again shoot me a message. What is it about Citi that makes it attractive? I'm all about value investing, and three bucks a share is pretty cheap, but I had to say I was a little surprised by...
Seeking Advice for PE/HF
Fellow Monkeys,
The Buyside: A Monkey's Review
”Please, Turney! Let me trade for you! I’ll do anything!” – young broker “Anything?...stand on your desk and sing ‘Milkshake.’ And put yourself on speaker while you do it so I can hear you!” – Turney Duff , “author of “The Buyside”
Luxor & Hoplite
Hey guys, two analysts from my group recently left to join Luxor and Hoplite. I never heard of them before and was curious what their reputations on the Street were. I checked online but couldn't find too much info. Would be interested to hear what you guys have heard.
Has the Volcker Rule significantly hurt S&T analysts who want to become discretionary traders at hedge funds?
Now I know that these days a lot of trading in S&T is market making and client execution. However, we all know to make the big bucks in trading you need to have big capital and develop scalable strategies for that capital. From my understanding, with the proprietary trading significantly hindered...
Visium Asset Management?
Anyone hear anything about this place? Good sized shop and have a few higher up contacts there, but wanted to hear opinions on what life is like for analysts. Model monkey job? Flipping coins on quarterly earnings? Anything helps!
Learning Excel / spreadsheet techniques for portfolio analytics and operations
Hi All! I'd like to learn a bit more about all of the modeling and MS Excel based spreadsheet portfolio calculation, analysis, and optimization tools that investment managers use in their portfolio accounting, risk management, and pricing / valuation of positions processes. Something like what Wall...
Distressed Hedge Fund to VC?
So coming up to end of my first year in M&A and looking to jump ship. Ultimately I want to do VC , but that only seems accessible after 3/4 years of experience. Am currently considering a few junior positions at distressed debt hedge funds and just wondering how it would impact my chances of getting...
Prime Brokerage Stories: Big Mack and the Phantom Pricing
This is the first of a series called “Prime Brokerage Stories,” real-life experiences from a close family member of mine who has worked in this area of the Street for about 30 years. You’ll hear about the frauds he uncovered, the laughs he enjoyed, and of course, the characters he encountered....
Ask Me Anything - Current Prop Trader/Advice for people wanting to make it/Breaking in
So I wanted to give some people hope. I will keep my firm names anonymous, but I want to give people help. I am just going to have some random points, and want people to ask anything or even state if you disagree so we can get a nice discussion going. My Profile: I graduated in 2011 with a...
Hedge funds focused on FIG
Which hedge funds are focused on the financial institutions industry or have done large deals in this sector?
Mid/Jr Level Hedge Fund interview, what's Taboo?
Hi guys, I've got a couple interviews coming up at some Hedge Funds for mid-level stuff (I'm 5 years in, most Jr portfolio manager type of roles). Some are at smaller (50-300mm) funds, some are at larger (1bn+) funds. Obviously I want to pass the interviews, but I also want to learn more about some...
The return of the King? (as Forbes presents it)
Michael Steinhardt, Wall Street's Greatest Trader, Is Back -- And He's Reinventing Investing Again This story appears in the February 10, 2014 issue of Forbes. Michael Steinhardt forged the model for making hedge fund billions before exiting the game. With WisdomTree, he’s back to upend Wall...
Tepper Tops Highest-Paid Hedgie List
Some of these numbers are just staggering. I remember when the whole world came unglued after Michael Milken paid himself $550 million in 1987 . That wouldn't even cover David Tepper's tax bill on his 2012 earnings. That's right, kids: hedge fund managers are now into the 10-figures for all-in comp....
Babydick Capital Annual Letter 2013
http://www.scribd.com/doc/203941751/BDC-Annual-Letter-2013
Tweets Coming to a Bloomberg Terminal Near You
Last Thursday, Bloomberg announced that it has begun integrating Twitter functionality into its service platform. It filters company and market-centric tweets for its base of over 300,000 subscribers. This came shortly after the SEC provided guidance that would allow for companies to distribute...
Private Equity vs Hedge Funds: 4 Key Differences
Full disclosure, I'm biased to the HF path, but have friends at top PE shops. First things first, PE and HF are two fundamentally different career paths. Yes, they're both buyside gigs and both pay extremely well. However, it's the differences you'll have to pay attention to. Hedge fund modeling and...
Mutual Funds (GAMCO/PIMCO/BlackRock) vs. Hedge Funds
How does the prestige of Mario Gabelli's Asset Management Company (GAMCO), PIMCO, and BlackRock stack up against hedge funds? In general hedge funds>>>>mutual funds but I feel as though Mario Gabelli, Bill Gross, and Larry Fink all carry weight. 1) Are these three places seen as prestigious?
What to do with old suits?
Monkeys, I recently got a job at a decent size hedge fund ~5b AUM and have quickly realized that I no longer need my suits. Often days I'll go to the office wearing jeans and a polo, or just a sport shirt, hell my boss wears t-shirts on occasion. I've found I only need my suits when it comes to...
Are there ANY jobs in RE that pay as much as (high finance) Hedge Funds?
An analyst in a hedge fund (high finance) can make $500k-$1 million a year at the right shop. What are the positions in RE that are comparable if they even exist at all? I am not talking about entrepreneurial developers of property, but rather positions in a RE firm/company.
Hedge funds vs. Mutual funds
Many people here on WSO are obsessed with hedge funds and look upon the mutual fund industry with disdain. However, I have seen a lot of misinformation out there on what mutual funds even do, so I wanted to layout the basics of both hedge funds and mutual funds and what makes them similar and what...
background and credit checks, article from businessweek
I spent some time on the forums and online, I found this article which was relevant, I can't post links, but you can find the article by searching for "ask-the-expert-will-a-foreclosure-shut-the-door-to-wall-street" on Google. with comments from U Chicago's career development center: "“While...
Background Check Top Hedge Fund
Hello everyone, I am a noob and needed some information about credit checks in top hedge funds or IBs ( DE Shaw , Two Sig, Citadel , Element, GS etc ). I discovered today that I had a delinquent account (dental bill for ~300) from way back in the day which I wasn't aware of (probably lost in mail as...
Top Hedge Funds Performers in 2012
I looked over this Insider Monkey blog long/short equity hedge fund list and what struck me is how many have shot up to the top in the last year; also, the average holdings is on the small side : 20 stocks or less. As noted, Ms. Krishnamsetty's analysis does not have access to the funds short...
Are macro hedge funds inherently untenable?
I'm very interested to get people's thoughts on this, especailly posters such as Bondarb. There is a view among many renowned investors such as Klarman and Howard Marks that macro investing is futile because no one can accurately predict interest rates/global economy/geopolitics and other macro...
WSO Webinar TONIGHT @ 8:30pm EST: 3 Secrets to Breaking into S&T
This coming Monday night, July 29th (830PM et) Wall Street Mentors will be hosting its Second Webinar of the summer. On July 15th, we covered the transition from banking to private equity. On July 29th, Anand, a featured mentor and current Hedge Fund trader, will cover what it takes to break into...
Hi, I have cancer
I figured that the title would be luring to many of you. I'm 18 years old and was recently diagnosed with a form of cancer. It's treatable by taking a pill a day everyday for the rest of my life and has a 5 year survival rate of 90%. Will this stop me from ever working on Wall St or entering IB , PE...
Fundraising
I was digging through EDGAR to investigate a recent start up HF . The fund paid $2 million to a fundraiser to raise $100 million and $50 million came internally from the fund's founders. I was unable to determine if the fundraising firm will receive additional incentives in the future. Anyone know...
Over/Under on days left for Paulson's Gold Fund?
30 days. "Gold Prices Collapse As Everyone Remembers It’s Just Yellow Metal" http://finance.yahoo.com/blogs/daily-ticker/gold-prices-collapse-everyo… http://au.businessinsider.com/john-paulson-gold-stocks-performance-2013…
Prop shops diversifying their businesses
It's been going on for a few years, and it looks like it's intensifying. Prop shops such as Getco , Peak 6, Archelon, Hard Eight, Allston, and others are going more into customer based businesses such as internal hedge funds and services. This article discusses this trend. Is this proof that...
HF Class being taught in NYC (Soho)
Anyone looking for an interesting class to attend, a HF manager I know is teaching a class titled "How to think about the market like a Hedge Fund Manager". He is a former equity analyst and HF manager of Surfview Capital. Very bright guy that now runs the website "estimize". The class is on July...
Referral Fees
I've heard referral fees are typically anywhere from 20-25% of fees earned on money brought in under management. I was just wondering if those numbers stay the same for fund employees, or do they get a little something extra? I would also assume if someone can bring in an 8 figure commitment to a...
Money manager Ed Butowsky on SAC's Cohen
*"The Michael Jordan of Hedge Fund Managers". 25% net return to investors annually since inception w/an average Sharpe Ratio of 2.5. "This man has returned 3x the returns of Warren Buffet with a third of the risk"
Giving Back-- Holy Grail for Contacts in HF Industry
Well, I've been down on my luck lately, I got turned down for a Fund of Funds Analyst role and I'm waiting to see if I can get into Santa Clara University for an MSF . I figured doing something good will turn things around. And up to this point, I've been exceptionally greedy in regards to my...
Where Do Interns Hang Out In NYC
I'm currently interning at a fund on Madison Avenue. I was wondering where interns hang out after work. Are there any bars or restaurants that interns really "swarm". I'm hoping to find a few cool new people this summer and expand my network.
Personal Account for HFs
I have never traded on a personal account, although I dabbled with options and stocks on a simulator for a while. I'm starting FT IB work at a BB this summer and I might be interested in working at a hedge fund instead of PE . I don't really have any cash to throw around in the debt/equity markets,...
Private Equity Associate to Hedge Fund Transition
Anybody made the transition? How were you able to gain the public markets experience needed for recruiting? And how did you get around the stigma from hopping into PE after banking (instead of HF)? Any comments would be appreciated. Thanks!
Which are the most creative hedge funds?
Been thinking about the future (and present) of the hedge fund industry lately. Many of the tools of the trade are so well-known that it is increasingly difficult to outperform. To that end, I have two questions: 1) What are the most creative/entrepreneurial funds you know of? I mean creative in...
How much does your decisions from the ages of 12 - 18 determine your future/overall happiness in life? - Early
Gotta make this quick - at work. After reading the risible, lambaste worthy & somberful post of "biggest life regrets" http://www.wallstreetoasis.com/forums/the-single-biggest-failure-in-you… It's evident for MOST of the posters on this forum (whom I'm guessing are
The Rise and Fall of Philip Falcone
John Meriwether (LTCM), Nicholas Maounis (Amaranth), Jeffrey Larson (Sowood), and Philip Falcone (Harbinger) all have something in common: they are Hedge Fund has-beens. Although Falcone’s Harbinger Capital has not blown up completely, Harbinger now only manages 3 billion in assets compared to its...
The Migration to Hedge Funds
I think it’s safe to say that regulations have changed Wall Street from what it used to be 20 years ago. Government intervention was lower, leverage was the norm, and bonuses were higher. Today, there appears to be a new trend. Bloomberg ran a story yesterday describing how an increasing number of...
3rd Year HF Analyst Q&A
Prior reading: Hedge Fund: The Investment Life Cycle. Quick background: Penn undergrad - 2 years at AM firm - 2 years at large HF - currently in 1st year at 2-3b long/short HF with heavy emphasis on value. I still had some questions floating around my inbox that I may have missed and some questions...
Can you teach someone to be a hedge fund manager?
More than ten years ago, to be a hedge fund manager didn’t necessarily imply that you attended an Ivy school or that you cut your teeth in banking. Quite often, managers of the near past simply found a niche and became really good at exploiting their market; just look at Ken Griffen, David Tepper,...
Pitches becoming "priced-in" before interview
I am current IB analyst interviewing with equity l/s value and special situations funds. I have had a few interviews but have held off reaching out to too many firms as I am still working on finalizing my pitches.
Pick any two metrics
I had an interview the other day and was asked "if you had a list of companies to choose from, without knowing anything about them, and only having financial statements available (and ratios), what are the two metrics you would use to pick a company for an investment"..What would you say?
Hedge Fund Partnerships
Most of the time when I hear about hedge fund founders, I only hear one name, with the exception of Charlie Munger and Jim Rogers. I'm curious to know how often HF 's have multiple founders? The goal of chipping in $2-3 million with 4 other pissed off MD's certainly feels more attainable than...
Small Cap Value Investors
Anyone know of any good small cap value investors to follow? Mohnish Pabrai, the guy I used to follow, seems to have shifted to mostly large and mid cap stocks. My qualifications: -Primarily invests in companies with a market cap of less than $1 billion. -Annualized returns of 20%+ over the last 5...
Hedge Fund Ratio - (AUM to Investment Team)
Anyone have this list that they can post? It is in an article published by HFAlert. "Equity Shops Run Gamut From Lean to Robust" http://www.hfalert.com/headlines.php?hid=160186
Black River Asset Management and Cargill funds
What type of reputation do these groups hold on a national level? Obviously they are large and well-known locally and throughout the MW, but what about in NYC , Boston, Greenwich, San Fran, LA? Curious to hear.
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