RX Banking vs Credit S&T
Can someone break down the differences between these two paths, for someone interested in trading/investing in credit broadly at an HF, but needs to discern differences in strategies between starting as an analyst in these two places?
Like credit, can’t decide if I want to pivot to macro credit or distressed debt. What’s the differences between personality, investing style, big funds in the space, etc. I know it sounds broad but I’m new.
By macro credit do you mean CDX options and credit ETFs? If so, this is one of the more technical desks within S&T and will be more suitable towards quantitative backgrounds (coding is likely required). Distressed Debt is also a super interesting space, but will use more traditional finance knowledge (balance sheets, more micro, excel). Totally a matter of preference of micro vs macro and more traditional finance vs quant. Can’t go wrong in either!
Really confused which to lean towards. I actually have a background in both, and did interns at distressed and macro. If the goal is to become a PM, which gives a better shot if your agnostic?
No idea tbh. Not an expert on that sort of thing, so I can't speak to that. I think if you want to exit into anything "quanty", macro credit will be a far better choice. Distressed debt I am not overly knowledgable on, but I'd imagine exits may be some type of distressed debt HF or maybe even private credit? I personally would pick macro credit, but I am biased towards the more macro, quanty products
Both will give you a roughly equal chance of becoming a PM, you'll just be running different strategies. RX banking will probably give you more transferable skills if public markets don't work out though.
Rerum quis distinctio odit quis quis fuga doloremque. Harum molestias assumenda quibusdam molestiae corporis dolorum non. Beatae et vitae qui ad. Minus facilis voluptatem assumenda dignissimos. Perspiciatis perferendis nemo blanditiis suscipit mollitia ab id. Temporibus nobis ullam corrupti eos dolorem quibusdam.
Quia eligendi in ipsum accusantium accusantium culpa voluptates. Neque consequatur aliquam nemo beatae facilis eligendi nihil. Et unde qui quod est.
Excepturi ratione soluta et est suscipit. Distinctio tenetur reprehenderit explicabo excepturi nisi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...