(Sorry for the double post, I posted this in General discussions, but it is more appropriate there.)
I am currently working as a quantitative analyst on rates and credit, prior to this I was a trading assistant on a rates desk. The market is getting increasingly competitive and it is very hard to move even internally to a position closer to the business (i.e. trading and structuring) I am now 33 and attended level 1 of the CFA. What would be my best shot at being some day a portfolio manager in your opinion ?
Do you want to do fundamental or quant research? Security selection or broad macro trading (rates, etc.)?
Knowing exactly what you want is the first step. Alot of people over look that, surprisingly enough Still the CFA is a good way to go while you are figuring it out.
I want to manage money and dedicate all my time to allocating money. Trying to produce returns is something that fascinates me. I think there is a sweet spot in applying quantatitative methods to fundamental research because when I talk to practitioners of each field, they seem to know very little about the other field. However in my daily job I do not have enough time to dedicate time to analyse fundamentals in a systematic manner and correct data is very expensive. Therefore I thought that having the CFA will allow me to get a better understanding of fundamentals, then I will be able to test a few ideas. When I will get a good feeling about what seems to somewhat work, I can work on refining/automating the process using quantitative methods. The sell side does not offer that as it is more about producing reports about capital charges and you see very little of what is required to be a successful trader/money manager.
Lookup asset management firms you’re interested in and check the PMs background. Backgrounds vary a lot but Msc + CFA is common for PM. Lots make it just with a CFA, or when equiped with industry experience of a key sector in which the cie invests.