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They start out analyzing other people's investments 10 ways to Sunday. Think of your case interviews but you need to define a half dozen frameworks that are some what different and executing on all of them to ultimately summarize into a risk/reward profile that gets plotted against a big portfolio of other similar investment evaluations. You model out several scenarios for upside and downside sensitivity and then you do the same for groupings of investments (not just individual assessments). And even after investment you continue to refine your frameworks and monitor those investments risk/reward profile to help the directors make exit decisions. And ultimately you're measured on the performance of your recommendations (including the recommendations that you made resulting in "exit" or "don't buy"- after all, opportunity cost is the biggest hedge fund cost). If you do well you start managing small assets and developing your own team of research analysts to give yourself leverage, and you are now held accountable to portfolio performance.
S& provided a ton of useful information and perspective, oh salty McK2
Trim hedges
DD1 with the dd
I'm guessing they tied to an industry and offer investment to research to their Fund Managers. But that kind of money for that kind of work sounds ridiculous. What am I missing?
What you just mentioned OP sounds more like Equity Research to me. Let us know once you find out more about the role.
S& gave a great reply
Whether you have research help or not depends a bit on the size of the fund. But typically you do your own shit. These are lean/mean machines. Very simple operating models. Not a lot of service overhead.
Bueno, gracias!
The potential to grow and make 1MM to 10MM within 5 years is high in hedge fund arena. Good luck MCK.
I like how every conversation here starts with a McK person posting a simple question/comment -- kpmg asking for a referral -- Deloitte coming up a jealous quip and PW writing an essay without a point.
If you don't like numbers... REALLY like numbers, I wouldn't do it. I love numbers and I loved working for the fund I was at (can't share name). It was much more fun than IB. I actually learned shit and was client facing. Ultimately both worlds were just too much... too much about money and so fake. The salary was amazing. S&1 nailed it. Be prepared to do your own legwork for yourself, but the benefit is the rewards are instant when you get them. In consulting we know when we've done good work when we get extensions in a couple months. With a fund you'll see big checks and money move so fast it'll blow your mind. I'd say do it if you think you're 80% sure. You'll never be 100% sure. It's one of those things like move to LA once, move to NYC once, try a startup once, work for a hedge once. You'll work your ass off but you'll learn more in that year or two than you will in 2-3 years of consulting. And we all know a year of consulting is worth 2 in industry. That's where I'd put it. Perspective - I did 2 years as an IB analyst, 4 years as a fund analyst and then manager, 8 years in consulting.
What else do you want to know? Maybe a more precise question can elicit a more precise answer.
I'd suggest watching Billions to prep.
😄
I want out of human capital so bad. Jealous!
Not everyone is in FSI M1.
Who was the recruiting agency? I'll give you competition op
Ok - so it's a super premium large hedge fund. Role is a long/short equity analyst focused on a specific vertical. I'll be helping them develop investment strategies and new generate ideas for buys. They have a separate algo quant arm, doing the complex modeling work. And yes super flat organization, looking for someone who's not Wall Street. I dunno, I don't exactly love the idea of doing due diligence a
What do they analyze?
It's a front end investing role. Will share more when I know more I guess
Okay M1 here's your 🍪