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What are these SM’s HF’s and their investment strategies ?
What are the investment strategies and sector focuses of each of the Tiger Cubs and other prominent SMs such as Pershing Square? Also, which one of these SMs is more inclined to treat their analysts like analysts/associates in PEs during the first years at the fund?
How do you justify active management?
Put pods aside because they are market neutral. but serious question. SPY and QQQ go up 20-30% a year with no risk, high sharpe ratio, with huge exposure to themes like AI/Magnificent 7/Nvidia/Smci which go up 50-200% (lol) a year. meanwhile individual stocks are very volatile, go up and down 5-10%...
Which of the next generation pods will be most successful?
MM/SM debates aside, which of the ex. Citadel/MLP funds (Jain, Freestone, Kodai, Woodline, Holocene, among others) do you see having the most potential in the future? What do they bring most to the table relative to the big 4 today? (Better technology/culture/nimbleness, offset by lower scale)? How...
Does private credit kill HFs?
Steve schwarzman made some comments about private credit having low teens returns, with no risk and lower vol. compare to HFs targeting similar returns with much higher equity exposure and risk. Do allocators shift away from HF to these strategies? Ignoring citadel/MLP since they are almost...
Is fundamental L/S equity a dying strategy?
Question is in the title. I am currently a freshman in college with a dream of working at a pod shop on a fundamental L/S team, but I am worried that the strategy is becoming too quantitative and the 2+2 path might not be the best route. I know pod shops and certain SM's like Viking continue to do...
College search for getting into HF
I’m a junior in high school and am trying to decide on colleges to apply to. I have a 3.33 unweighted GPA, 4.64 weighted GPA, and am taking 10 APs. I’m planning on majoring in finance and really want to work at a hedge fund post-graduation. I doubt I can get into any Ivy League so I’ve been...
Lateraling from Trading to IB vs. IB to Trading
I recently finished up my undergrad and I'm interested in trading, investment banking, investment analyst (particularly within hedge funds) type roles. Realistically, which of these roles is going to provide better lateral opportunities down the road and which would be the most ideal to start with?...
Real Estate Agent Transition Into AM
Location: London Degree: Chemistry (1st class) Situation: I am debating whether to join my friend's real estate company that he works for due to the high level of commission he receives, and currently, I am unemployed looking to break into the AM sector. Background: My background is a Chemistry...
Real estate agent transition into asset management/PE
Location: London Degree: Chemistry (1st class) Situation: I am debating whether to join my friend's real estate company that he works for due to the high level of commission he receives, and currently, I am unemployed looking to break into the AM sector. Background: My background is a Chemistry...
MM ER to HF timeline?
Hi everyone, currently incoming 2024 SA at a MM doing ER. Have done SM HF internships and really enjoyed the experience. Assuming I likely won't want to stay in ER on the sellside forever, what would the process usually look like for recruiting to SM/MMHF? I know it isn't as structured as PE...
Bell Rock Capital - Any info out there?
Hey, Title says it all, anyone have any info about these guys? Seems very little out there aside from a snippet about the founder. Any clue on AUM, performance, culture, caliber of hires?
If a billion dollar AUM trading firm doesnt employ hedging strategies, then is it not considered a "hedge fund"?
Is a big trading firm a "hedge fund" only if the stock trading strategies they use include hedging strategies? If a billion dollar AUM stock trading firm doesnt not use "hedging strategies", then what kind of firm/fund are they called? (Instead of "hedge fund"?)
Australia: Boutique fund management company graduate salary expectation
Hi all, I know there are tons of posts on graduate pay, but my question is bit more more niche. I am interning at a boutique fund management shop on their investment team, and am expected to work here as a grad. The fund is relatively small and was pretty much a 2 man team before hiring a few...
Need urgent advice: How difficult is it to go from LO to L/S or MM fund?
I'm currently at a >15bn L/S market Neutral fund, but I'm considering an offer from a sector focused LO with AUM >$5B due to personal reasons. It's >$5bn Long biased fund focused on a single sector and is pretty well respected within the sector. The founder is a bit of a legend. This job allows me...
MM Hedge Fund vs Prop Trader
Have been at a MM hedge fund doing equity L/S for 3+ years, but pod recently blew up so have had to look for new jobs. Have offers from other large MMs in similar roles, and also from a big prop trading firm (CitSec/Jane Street/Optiver). How do you think about the differences in...
Long Short Interview Guides \ Career Advice
Hey guys, currently an analyst at a bank and going to a tech pe fund pretty soon. Truthfully, I want to make the switch to L/S and think I'm going to have to recruit pretty quickly soon after i hit the desk. I'm going to try and give the PE job a shot, but in the event that I do not like it (which i...
Equity Research Data Sources
Hey All, Where do you get your equity research data from? Do you use Excel addons? Through my alma mater, I had a subscription to Pitchbook which had a great Excel addon that allowed me to build some big models for my comps analysis, DCF, 5 year quarterly trends etc.. I assume that PB did some...
Long-only Equity Research switch to L/S Hedge Fund?
How do top multi-manager hedge funds (e.g. L/S equity at Citadel, Millennium, Balyasny, Point72) think about candidates from long-only asset managers like Capital Group? Could someone who is a few years into their long-only equity research career at a place like CG expect to receive any interviews...
Wharton vs CAS at Penn
I have recently been admitted to the University of Pennsylvania in their College of Arts and Sciences. I'm interested in double-majoring in Econ + Math. Since Econ is only in the College at Penn, I was wondering if it would make a difference. My plan is either to get a buy-side job straight out of...
T2 Hedge fund or T1 LO/AM?
Hi, I just received two offers and I would like to get the forum view on pros/cons. I have 1/2 years of work experience at a hedge fund and looking to move for some reasons. What would you choose between going to Capital/Wellington/TRowe as a research associate or going to a Tier 2 HF (LSD AuM with...
Diameter Capital and Taconic Advisors
Hi all, I want to know whether or not Diameter Capital and/or Taconic Advisors are recognizable names in the investment industry. They are ran by people from very impressive backgrounds, but they are both very small firms by employee counts. Thank you for any insights! edit: Removing the “how it...
Thoughts on MMF
Posting anonymously but I've spent most of my career doing distressed credit/special situations/high yield at funds with more long-term locked up capital (think of the likes as a Oaktree, SVP, Monarch, Redwood but on the smaller side). Have an offer from a smaller/lower tier MMF (think Verition,...
PE Exit to Slower Paced Investment Role out of NYC
Hey all - I'm a second-year PE associate at a UMM fund in NYC. I am looking to get out of PE and NYC in search of a slower pace of life while still doing some kind of investing. I'm gravitating towards roles in family offices, pensions, endowments, long-only asset management, or hedge funds. I aim...
MM IBD/MM ER to move to HF?
Currently recruiting for SA 2025 with MM ER and IBD offers, and looking to eventually break into either MMHF / L/S SM. Would it be an easier process to go from MM IBD or ER? Would you likely have to lateral to BB/get MBA before exiting to buyside?
Is University Even Worth It?
I'm currently a grade 11 student in Canada, and I've figured out that I eventually want to start a hedge fund ; haven't figured out the specifics such as what type it's going to be (value, growth, quant) but I'm reading every book I can about finance to learn as much as possible. The dilemma I'm...
L/S Equity | “Project” | Any Ideas?
Have a several hour “project” along and a debrief with a PM afterwards. There was no indication to what this may be. I have done the intial modeling test (3-statement, and spoke with a business rep, spoke to the same PM, and a couple of analysts on the team. This is for a role on a...
How to break into a hf
I know a fair amount about breaking into an Investment Bank or a Private Equity firm but is there anything different about breaking into a hedge fund. I'm a third year student at a non target and I am interested in working for a hedge fund later in my career. What are key differences in hedge funds?...
Alternative Routes to Banking Internships
Hi everyone, I have a perfect resume for lobbying but i've been trying to break into banking via getting an internship. Any help? I recently graduated non target B.S. in Finance from a good school in the northeast, internships in all facets of government, think tank, federal (house), campaign and...
Interview with PM at P72
Hi everyone, I have an interview with a Healthcare PM for L/S equity coming up. This is post modeling exam, and post bus development. So I guess you’d say the real 1st round. I’ve prepared a few stock pitches, thought about my investment process, strategy and how to articulate it. Considering...
MSC Finance or MSC Finance and economics
Hi, I am currently applying for Msc degrees in uk. I have a bachelors in computer science and mathematics from QMUL. I have experience of financial forecasting and Machine learning and data science models. I can program in Python and R and have IBM data science certification also. My target job is...
AM-> HF?
Experience- 2 yoe middle office risk at JPM/MS/GS, then 2 yoe on the trading desk at an AM firm (Analyst-> Senior Analyst), mostly ETF/MF. Certainly FO, reviewing/proposing investment strategy, meeting/bullshitting with brokers, lot of swap, future, options, equity, FI, etc trading, but a good deal...
Seeking Career Advice
Originally from Asia, did my STEM PG degree in the UK then stumbled into the London hedge fund world. Was hired as an intern to work directly with a senior L/S PM, started by doing ad-hoc excel sheets/analysis for him both on individual names and at the portfolio level, then learned to pick stocks....
Long Only Opportunity Straight from College
Hey guys, Hope everyone's doing great! I'm in an interesting situation and would appreciate experienced opinions on the path forward. I'm a sophomore at a non-HYP Ivy and very sure that I want a long-term career in public equities. I was lucky to stumble across an opportunity for Summer 2024 (and...
Energy Trading Career Path
Hi, so I graduated in 2018 and have been working S&T since. I joined a startup that hedged on behalf of different companies (producers, small refiners, PE) and managed everything for the trade, except for wiring the payments and traded with all of the IB/BB/MM companies. I started in back office,...
Bracebridge Capital?
I have an interview with these guys coming up, does anyone have any insights on them? I haven’t really been able to find much and they seem to fly under the radar a lot, but it’s a $12bn hedge fund. Wondering how this would line up against an EB offer or something of the sort
How fucked am I?
So in 2018 when I was 16 one of my teachers told me about the stock market, it was a few months till college started, I asked my dad about it, and he called one of his friends who was a sub-broker, I would go there to learn trading and all. Learned from her for a few months and traded in my dad's...
Future of Econ/Finance Grads in the Hedge Fund Industry?
There was a similar post from 10 years ago but wanted to get some up-to-date responses Since hedge funds and a lot of trading jobs today are dominated by quants, do people with an econ/finance degree without or with little programming knowledge have any potential in the HF industry? A lot of...
Hedge Fund vs F100 Corporate Finance FT Offer
Hey WSO Community, I'm facing a tough decision and could use some advice. I secured a full-time offer from a reputable F100 company for their finance rotation program, where I'd have the chance to explore roles in corporate development, capital markets, treasury, FP&A, etc. With recent announcements...
Future of Discretionary/Fundamental Hedge Funds
Hey Everyone, We all know that AI is literally revolutionizing a lot of things in the finance industry, so just curious to know what you all think about the future of fundamental hedge funds. Are quant funds going to outperform them in the long run? Will fundamental funds cease to exist in the...
Beginner need to check rules
Hi guys I’m brand new to this I guess I need to check compliance rules first. I have never bought stocks or shares, I guy before I think of potential ideas I need to check compliance and the rules. I’ll research the compliance / rules first of all.
Point 72 | Screening Call
Passed the initial modeling and wonderlic test. Wondering if anyone had insight into the screening call with a biz development rep? This is for L/S Equity. Thanks!
Weiss Asset Management Final Round
Hey guys, Hope everyone's having a good start to their week! I have been fortunate enough to progress to the final rounds for Weiss. From the database, it appears there are not many people who've gotten to the final round so the info about it is limited. I was wondering if anyone has any insight...
UMM PE vs. ~$2B SM
Lucky enough to have the choice between two offers: UMM PE firm (last fund ~$5B, well-regarded in the PE space) and a ~$2B SM (~10 investment professionals, been around for a decade or so). I know the first answer would be privates vs. publics, but given that I don't know what I don't know, would...
HF vs LO
Why do you see people at HF's who have been there 2-4 years getting ready to take on risk and run their own sleeve, while at LOs 2-4 years is still seen as a jr (most LO's would want you to have at least 13-15 yoe before running any money). This divergence seems crazy to me. Thoughts?
Is it possible to start a HF in College?
First, I want to acknowledge that as a 17-year-old old, I know nothing about finance other than the basics of Excel, statistics, and accounting. With this in mind, is it possible to start a hedge fund while in college? I am very passionate about investing and will likely be attending a semi-target....
45 Min Modeling Test
Have read the threads on this but couldn’t find any links to actual example resources Are there any practise tests online for this? Have a modeling test coming up, and just want to get used to how it works. Also for ROE, should I assume its just: net income / SE or net income / average SE Any...
Weiss Asset Mgmt Interview
Hey guys, Hope everyone's having a good weekend! Interviewing at WAM as an UG for a Fundamental Investing role. 1 technical, 1 behavioral. Not sure what to expect technicals as I've heard its Math-y probability and logic stuff. Any insight would be super helpful. Thank you very much
What does the bulge bracket investment banks think of resumes with omitted GPAs?
The top banks need like a 3.7+ GPA just to get an interview. I am wondering what a recruiter thinks when they see my resume and I did NOT list my GPA?
Do BizDev people talk to each others?
I was really bad during my interview process at one of the Big 4 MM few months ago. Since then, the interest for my profile has decreased a lot at the other funds. I'm junior analyst at a big 4 MM. Do you think, from your experience, that BD are talking to eachothers ? Or even blacklisting...
most exclusive funds in pe, hf, am, etc.
what are the most exlusive funds that mirror places such as pershing square (in terms of prestige due to founder, small team size, aum) i'm wondering over all branches of finance, not limited to the three above what small teams have such a prestige and exclusivity that analysts would sell their left...
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