Silver BananaTopic
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2017 Hedge Fund Report: 8 Key Takeaways The 2017 Hedge Fund Industry Report compiled by Wall Street Oasis (WSO) provides insight on compensation, the interview process, employee satisfaction and more. All statistics featured in the reports are based on 1,800+ user submissions from the hedge fund industry. The report includes data fro...
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WSO Hall of Fame: Hedge Fund Forum The Wall Street Oasis Hedge Fund Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the hedge fund industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate here. If ...
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Most unconventional paths to Hedge Fund that you've seenWhat are the most unconventional paths to HF you have seen among research analysts? The conventional ones include equity/credit research, IB, MBB, S&T. Anything else is fair game. This can be for any fund $300MM+. Anything from corporate strategy to operations to boutique consulting ...
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What do you think about the CAIA?I'm seeing more and more people take the CAIA...
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AMA: Hedge Fund Allocator at a $2B+ E&FHi there, After lurking for sometime, I figured I'd jump in with an AMA: Anything you want to ask an E&F allocator? Willing to offer candid thoughts on any and all questions, from the do’s and don’ts of getting funded to what life/comp is like on this side of the table. I have 10+ years in th...
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For those who landed as a quant with only undergrad degreeHow strong is your math background? I have taken real analysis 1, 2, machine learnig, bayesian inference. I am taking measure theory next term. I am worried thst i'm lacking so much though. Differential equations, stochatic calculus, forecasting and the list goes on. I know it may depend on the area...
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Natural Pure CBD upwards of 400 calories**Natural Pure CBD** upwards of 400 calories for every day. That is exceptionally encouraging news and fish oil is obviously an extremely solid expansion to your every day diet. Get sufficient rest: Not getting enough quality rest will back off your...
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Minimum Size of a Good Hedge FundAt the risk of this question sounding ignorant, what is the minimum size of a good hedge fund? I understand that yes, a $100M dollar hedge fund can post returns of 27% while a $10B fund can post returns of 5%, but what I'm trying to get at is what is the minimum scale of AUM that a decently establis...
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Hedge Fund from a Non Target?Hey monkeys, I'm interested in possibly trying to get a job at a HF after college. I'm likely going to be going to a nontarget on the west coast (Harvey Mudd; exceptional STEM school but not really the best place for finance). I know that some financial firms recruit there (Bloomberg, Citadel and...
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Gray Fox AMAMod Note (Andy) - this AMA originally went up last August but Gray Fox wrote and said he could still answer questions I've posted here for about five years, but with much less frequency the past year and a half. @xqtrack" @Kenny_Powers_CFA" @BlackHat" and others did similar threads. Earnings seas...
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Working for Free - Doing Value Added Work as an UndergradHello, I am currently an undergrad student at a non-target. I have a high GPA and a lot of really strong EC's. However, I have been having a lot of trouble getting my first research internship. I wanted to try a new strategy. I was going to cold email as many hedge funds as I can and ask if I can w...
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Best set up for hedge fund exitsHow would working at a prop trading firm like Jane Street or Optiver compare to working at a mid-size mutual fund if the ultimate goal is to get to a hedge fund?...
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Hedge Fund Return DatabaseDoes anyone know where to find a database of returns by fund on an annual basis? Seems like there are some services out there but they require you to pay a ton of $ and be an accredited investor. ...
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Testo Ultra En Mexico suministro de agua.**Testo Ultra En Mexico** suministro de agua. El agua que contiene naturalmente más minerales se describe como "dura". El agua "dura" contiene más magnesio que el agua "blanda". Durante varios años, los expertos han sugerido que la cantidad de...
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Company Review: Morgan Stanley Smith Barney - MS FSVery good experience great place to learn and progress and a financial professional very excited to see what is out there . I really have nothing to complain about that isn't on par with Investment banks as a whole overall enjoyed my time ...
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Bite The A$$ Off a BearHi WSO HF community. I am a second-year Economics student at a well-known Canadian university; I attended private school on the West Coast of Canada and a former alumni of this private school has written a fantastic book called "Bite The Ass Off A Bear" - a fantastic, insightful read if you are look...
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Infrastructure PE Analyst to HFDoes anyone have any idea how hard it would be to lateral to a top-tier non-infrastructure HF? If it would be hard to move now, would it substantially help to go to business school first? Thanks in advance for the help!...
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Have a phone call with the founder & CEO of a large & successful fund. Need advice.Hey guys-- I reached out to him with expressed interest in his field & industry specialization and he surprisingly returned my email & now we got a called scheduled. I've done the networking rounds before, but never with someone so senior and successful. What are some things I can do to turn this ...
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Hedge Fund Careers: Guide to Landing a Hedge Fund Job Out of Undergrad and BeyondHedge Fund Career A career in the hedge fund industry is one of the most desirable careers in finance, and it’s not hard to understand why. Money is undoubtedly the greatest attraction, with analysts making $150k and then some. Portfolio managers often make north of seven figures, which is why ev...
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Anyone with culture info on Numeric Investors LLC in Boston? I know that they're an quantitative equity-focused fund with LS, long-only and market neutral strats. Was wondering if anyone knew about their street rep and what culture there might be like? ...
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Is it common to move from post-MBA banking associate to HF?How common is it to see post-MBA banking associates do, say a year or so in banking and move to a hedge fund? Is this move seen pretty often? At this stage, the candidate would probably be 29-30. Are HFs willing to take people on at this age as analysts?...
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Activist funds recruitment?Hey guys! What's the best approach to reaching out to activist funds? Is it possible to land an activist fund gig right out of undergrad or do they usually strictly hire from 2+ years of experience in IB/PE? How is the approach to recruitment different for mega activist funds (think Elliott) vs. sma...
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Quant Trading Summer Intern: Help...For some reason I cannot fathom, I somehow got accepted into a quant trading internship at a well-known hedge fund. I'd thought the chances were next to zero given that I can't count, am not in a STEM major and probably sounded like a blonde bimbo in my interviews. The problem is that my Math comple...
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WSO Hedge Fund Guide and added value for an Event driven recruitmentHello Everyone, I'm fairly new here! Living in France and doing my masters in Management at a top B-school in the country. I am currently in the recruitment process at an event driven hedge fund in Paris with their corporate (event) driven strategy team (excluding Merger arbitrage). The Hedge fund ...
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Do HF's verify GPA?Do hedge funds verify GPA? If so, how do they do it? Do you just send them a copy of your official transcript yourself or do you sign over the rights to a background check for your academic records?...
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Please help me understand this about HFsI'm five hedge fund types (arbitrarily chosen, and clearly not the entire population) into a data project on HF RORs, and I'm already struggling to understand how the HF industry still exists. Here's a screenshot of some of the numbers I'm looking at (please note that I understand these numbers may ...
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Comp Question: 1st Year Equity Research at 5-10B HFI've been with the firm as a mid-office analyst (for 3 years as my 1st and only job) and recently joined the investment team. I have a finance master degree from a non-target school and is a CFA3 candidate. My location is at the NYC. What salary and bonus can I expect in a "typical" year?...
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Internal Capital @ FO - typical terms? currently run a fund I started with track record of top performance. am looking at running nine figures (+scaling from there if returns are good) of primarily internal capital at a family office where I would be fairly autonomous with ~36 month lockup. Anyone here have any idea what "typical" o...
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Company Review: Moore Capital Management - Great Place to WorkGreat access to research, lifestyle is better than expected, lots of responsibility for junior people. Little guidance - expects you to hit the ground running, which can be tough for people coming in without a finance degree...
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Distressed Debt Hedge Fund out of College - Prep Advice I'm in the midst chatting with a distressed debt hedge fund along the lines of York/Cerberus/Davidson Kempner/Anchorage etc. to join as an analyst.I have no banking experience and would be joining straight out of undergrad and would work on a bunch of things like secured/unsecured NPL portfolios (co...
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Looking for someone with hedge fund experience to join team creating a cryptocurrency hedge fundI have extensive experience in crypto and I run one of the biggest crypto mining hardware companies in the world I want to use my experience and contacts to form a cryptocurrency hedge fund and we could do with someone with hedge fund experience on the team Please get in touch if this would intere...
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2-hour Modeling Test for HF (Fundemental Equities) - What to expect?-I have a final round analyst interview at a fairly well recognized fundamental equities shop in NY. I was told to expect a two hour test and it's likely to concern either a model update or a ground up modeling excercise. -The PM will then decide based on what you produce and the fit you bring to t...
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Orbis Investment Management - thoughts?Hi guys: Recently saw Orbis openings through on campus hiring, thought it was an interesting shop from reading about them online...Was curious if anyone knows more about them please? Appreciate the insights! Thanks!...
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Opinions on Quantedge CapitalAny one has any idea about Quantedge Capital. Asking for a PhD friend who's looking at the NY office, but apparently there's very little info on this firm. A2A: @DeepLearning" @IlliniProgrammer" ...
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Biggest Change in High Frequency Trading...Greenfield project in HFT right now, this is going to be BIG. Want something new? Then comment down below if you're open and we can arrange a chat....
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Guide: How to Short Bitcoins Mod note, this was written at 12:30am, see the current usd:bitcoin rate here here Well, let's start this off by saying that today alone, the value of 1 BitCoin to USD has jumped $44.1 hitting a whopping $234.9 coin value and by the time I finished writing this, it went up another $3 — but of cour...
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From Engineering to HF (EU)Hi everyone! Im studying Mechanical Engineering (2nd year) in Greece (so non target ofc) but i found out that Engineering is not for me. Fluid dynamics, thermodynamics etc are really boring. I want something more challenging. So, i would like to become a trader. Some relatives do forex trading (main...
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Company Review: Point72 - Good place to startGood training program that covered everything you need to know about public equities, firm has a lot of resources. Not great culture, risk of getting left out to dry without a team, can be difficult to move out of public equities ...
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Started a Crypto Fund - Looking to Connect with Fund Managers, etc.Hello everyone, long time reader - first time poster. I'm the founder of a crytpo "hedge fund" with a 3 person team (we launched about 3 months ago). Looking for advice on networking, fundraising, finance info, etc. Originally from Michigan but live in Los Angeles. My background is computer science...
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Invited to in-office HF test - what to expect?MSc student here. I have done an interview at a London HF investing mainly in financial institutions' credit and equity. It was mainly behavioral and it went pretty well. I have been invited to an in-office test on "numerical, logic and finance topics" (words of the HF analyst who I spoke to). I ha...
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Company Review: JPMorgan Chase - Analyst ReviewGreat opportunities to meet many people in different positions in and outside the bank. Team members are very friendly and willing to help learn and promote growth within the company.. Training was broad, not very useful for my particular role. Outdated technology and seemingly meaningless reporting...
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Reneging FT Return OfferHi WSO community, here is the situation. I interned at and received a return offer from company A in NYC (a large well known hf) this past summer in a MO/pseudo FO role. I have a great reputation with them, but hated the work I was doing and was looking for a way out. They initially gave me 2 months...
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AMA: Research Analyst at $1 Billion Hedge FundHey everyone, I’ve been a long time user of this site, which was instrumental in getting me to where I am today. If it weren’t for the help of everyone on here I certainly would not be in the position I am in today. I’ve been meaning to do this for a while but I would finally like to give bac...
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Performance Leg of a Total Return SwapHi guys, I'm just trying to understand the performance leg of a Total Return swap. Pls share ur thoughts....
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Opportunities in Middle Market - CLOsCurrently I am working in the middle office operations for a CLO shop focused in Broadly Syndicated Loans. If there was an opportunity for switching to a Middle Market CLO shop in a similar role, what are the pros and cons of such a switch? I appreciate your comments/advice/help/feedback. Thank you....
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Math or Engineering Undergrad for a Quant?Hey everyone, Trying to decide where to apply for undergrad right now. I really like STEM (especially math and chem), so that's why I was reading up a bit about quant jobs on Wall Street. Obviously I know it's pretty unlikely to land a quant job right out of undergrad, but I'd like some advice & ...
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Company Interview: Weiss Asset Management - Operations AnalystIf you look at a clock and the time is 3:15, what is the angle between the hour and the minute hands? I was caught off guard but then realized that this is a simple question. I made a mental picture of an analog clock in my head, and divided 360 by 12 to get the amount of degrees between each of t...
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Sector CoverageHi, I've finally managed to make way into a hedge fund (L/S equity, value-driven), and at this point am still a generalist (training and learning the ropes). The Head of Research is waiting for me to let him know what sectors I'd like to focus on. If you could become an expert in a particular sector...
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Company Interview: Two Sigma Investments - Investment AnalystEmployer continuously pressed on reasoning and logic behind decision making. For phone screener, the interviewer continuously drilled down, asking to elucidate why decisions were being made/what trade-offs were being considered etc. In discussion, interviewers frequently followed responses with "w...
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What are some good case studies for event driven/distressed strategies and the healthcare-focused investing? I recently met Mark Cosentino, the author of Case and Point when he came to give a lecture and case study at my school. The focus was mainly consulting, but he did mention that case studies have been becoming more common in HF interviews. While I have almost no interest in consulting, I did like the...
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The Iceland bet - How some hedge funds made huge moneyHello guys, I'm an Economics graduate from the University of Iceland. I thought I'd share with you some information that I believe has never been made public before, at least not in English. It's a story about some brilliant investments that made a select few hedge funds A LOT of money. This post w...
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Company Review: AQR Capital Management - 3Smart people; interesting projects; laid-back culture; high-quality research; stable outlook; stellar reputation on the street. Exponential growth in the last few years has led to some bureaucracy, although not the worst I've seen...
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Hedge Fund Spring Weeks?Do any hedge funds in London offer spring weeks? I've done quite a bit of research and most firms either don't have an internship program at all or only offer SA positions. There are also some that say something on the lines of "we prefer 2nd year students, but you're welcome to try and apply for t...
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Company Interview: Two Sigma Investments - software engineerThe hackerrank questions that were given in the code test were of medium difficulty level. You have to be prepared before attempting these. The friend circles problem was supposed to be done with best complexity solution which beats around 90% solutions on leetcode. Other problem which was the longe...
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Book about US and European macro history Looking for a good summary on the state of the US and European economy and macroeconomy in the last 100 years. Something that lays out why inflation, rates, growth, equity/credit markets etc were what they were at points in time. Can be any resource that lays out the key developments over time. Tha...
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Company Interview: D.E. Shaw - Prop Trading InternAsked to pitch a trade opportunity based on quantitative strategies, also a question on expected values of a dice throw, then with option to take second throw, fairly standard. Asked how to price an option, unsure on level of detail expected/required. What is the 'best' company, unclear how to defin...
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Can a Civil Engineering undergraduate work at a Hedge Fund?I am going to study Civil Engineering at one of the top universities in my country, but the job I’d really like to do is in Finance. The reasons why I’m studying Civil Engineering are 1. There are no Finance programs in my country, only Business Administration and Economics. 2. I’d like to pl...
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AMA: Joined a top Hedge Fund out of undergradHey guys, Just made a new account - been primarily a lurker on these forums on my other account. WSO has been super useful to me, so I wanted to give back. There is a growing trend of buy-side jobs recruiting straight from undergrad, so I thought this post may be useful to the community. I'm a non...
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What makes a great Associate at a credit-focused sponsor?Starting up at a credit-focused fund shortly (mostly private investments; lending against assets of firms w/ great mgt teams). Curious what makes a great Associate at such a shop outside of the boilerplate "attention to detail", etc. Thanks....
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Company Interview: Jane Street Capital - Trading desk operationsSince I just got the first round skill test and not further steps, I am not quite sure what unexpected interview questions will be asked. But the skill test is all about basic excel skills like vlookup. And the question is about financial knowledge which is haircut. It is good if you have relative k...
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Has anyone heard back from AQR Summer Research Analyst recruiting?Submitted an application a while ago and contacted recruiters. Don't know what their timeline is like....
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Bulge Brackets and Hedge FundsHi everyone, I just started working as a trader in the S&T deparment of a BB. What I really want to do, though, is working in HFs. Given the changes the banking industry has gone through after the financial crisis, do you think it still make sense to do an experience in S&T (2-5 years) before tryi...
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Starting a small hedge fundNew user, co-founder of a 2-person small Asset Management firm utilizing a trading algorithm for long-short equity. Looking for advice on networking, fundraising, partnerships, etc. Newly relocated to NYC....
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Engineering to Banking?Hi everyone, im new to this forum! So, im studying Mechanical Engineering and i found out that engineering is not for me. Im in the third year atm. My main question is: Can an engineering graduate work for an investment bank or a hedge fund? Should i do an MBA or it wont help either? Thank you in a...
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Steelcut Testosterone plateauing, which**Steelcut Testosterone** plateauing, which can successfully stop your progress. He signifies that switching up your workouts and routines periodically, to keep your muscle...
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Variant perspective in (value) investing for the long termHi guys, I work for a small, long-only fund in Asia with "value investing" as its investment philosophy. This is my third year working as an investment analyst (a generalist with no particular sector for coverage). Unlike many HFs in the US or elsewhere where an analyst is required to pitch her ide...
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Transferring decisionsHey all, So I was admitted as a transfer student to the University of Michigan and the University of Virginia, and I'm incredibly torn as to which one to go to. I realize that there are a lot of factors to consider in this process, but I've identified and elaborated on some of the highlights below....
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Your favorite investing podcastsWhat investing podcasts are you guys listening to? The latest I listened to was The investors podcast and I don’t recommend it (opinion based, high level, barely any facts, no sophisticated investing knowledge IMO). Keen to hear what you follow these days. ...
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Point72 Academy Intern SuperdayHello! I have been invited to attend a superday with Point72 for their Academy Internship role. I haven't been able to find much online about what to expect during the interviews, so I was hoping some of you might have some advice/knowledge about what their superday is like. ...
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Will financial analysts ever go extinct? Wondering what is WSO's take on the coming automation of financial analysis. Will markets ever get so efficient from the algos that CFA's and research associates won't be needed? ...
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Company Interview: Dimensional Fund Advisors - Financial solutionsNothing out the realm. Know their market hypothesis, their investment approach, be able to explain that to clients. From there, it was really conversational and fit based. You just need to be outgoing, someone they want to work with. Lot of resume-specific questions, which they just use to gauge you...
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Boston meet-upI will be in Boston beginning of Dec. Looking to meet up with fundamental equity investors in town. PM me if you are around....
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Fundamental equity investors LondonCurious to hear what fundamental equity investors are based in London. I am referring to Baupost and the likes and not the shops that flip quarterly earnings such as Citadel, Millennium etc. Can include start-ups as well. Thanks guys...
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How to find listing of all Hedge Funds in an area (preferably by AUM)?Does anyone know if there's any way to round up all the hedge funds I'm supposed to be chasing in order to cold email my way to a (hopeful) internship this coming summer? I feel bad just googling like the top 10. Also, thoughts on using my school's alumni database? Or should I use their company emai...
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If there is such thing at all, what are...Hi everyone, If there is such thing at all, what are one-two online forums that are considered the best - expert level or close to it - by traders of hedge funds and investment banks to discuss advanced questions of stock trading? Thanks....
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List of energy or commodity funds Does any one have a list of funds and email contacts of energy or commodity funds? If so, could you please share? Thanks very much....
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Hedge Fund In House InterviewHave an in-house interview coming up with a credit fund in which I will get 3 hours to complete a case study. Any of you all have advice on how to go about building a model for something of this nature? While 3 hours is quite a bit of time, I imagine it could go pretty quickly if you need to get to...
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Public speaking / confidence seminar - Dale Carnegie 2.0Hi, I am looking for a valuable public speaking / confidence seminar a la Dale Carnegie that Warren Buffett attended. Anything you can recommend in Europe? I have to improve my skill when it comes to presenting investment ideas....
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Quant jobs in Hedge Funds: Differences between companies?Hi all, I am considering a move towards quantitative finance from a PhD in theoretical physics from a top university, and would love some insights into the differences between various companies. My first hand knowledge is very limited, and so I am particularly interested in what people in the field...
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Proshred Testo most folks that **Proshred Testo** most folks that require a guidance to construct muscle mass are unsure what to search for, that's efficaciously the motive they require a guide in the first vicinity....
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Best UPENN clubs to join for buyside?if I want to learn investing what are the best student groups for me to join at UPENN? I'm on the WTIG development team right now and I'm curious if anyone has tips for what team to join next semester or if I should just WUFC (I have friends on it) or something else. Thanks!!...
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Is a math physics double major a good bet into Wall Street?Hi! First of all I want to say I know that the major doesn’t make the job, but it’s obvius that some majors are seen better than others... so I want to make sure I study a good one for being recruited without problems (to contextualise: what I want to do is investment banking and then make the t...
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Company Interview: Point72 - Financial Analyst52 * 48, revenue build for grub hub (project took about twelve to fourteen hours to complete) coupled with recommendation as to whether or not it was a good investment idea, what are you most involved with on campus (when I went through everything they kept asking for more), what is deferred revenue...
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freshman with alot of anxiety over career prospects, please helpaaaaaaaaaaaasdjdkdjdjsdjdjdjdjdjdjdjjdjdjddjdjjdjdjdjdjdjdjdhdbebdhsjbsdbjdjexjjdbebxhdhxvwbjshxbebxbeb...
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Starting a small fundHello all, as a person who is almost 18, myself and some friends have been discussing investing some money when we turn 18. My question for you all is -best sites to start our fund? -should we compile our money, or trade by ourselves - eventually expanding our money to help others What we hope to ga...
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Company Interview: Bridgewater - AssistantTell me about a time where you made a mistake and how did you fix it?   How did you resolve a work-related conflict? How did you handle confrontation from a supervisor? What is your greatest weakness and how are you resolving it? What is your greatest strength? What is your greatest ...
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