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What did you do at the commercial bank? If it’s opened checking accounts and approved mortgages then no…
Thanks Ramos for your response (eventhough I am a Barcelona fan).
I did mention Private Banking group in my initial post actually. In brief, within this group, what we do is to manage investments for High Networth Individuals (HNI), and also provide financial advisory services to them,. One of the purposes of this stylized banking include growing these individuals’ investments.
And of course, we do a bit of modelling and a bit of valuation too, but not as detailed as what I have read about in IB, HF, and PE.
Are we good, Sergio Busquet? Sorry, Ramos…LOL
To do private equity, what you really need to do is to do business valuation modeling under different capital structure scenarios, and be able to do it in your sleep. My guess is that the private banking modeling is more asset allocation, which is not what either hedge funds or private equity is likely to be looking for in a junior candidate.
Hedge funds are a much wider series of strategies and so there are different specializations that involve quant trading strategies, quant portfolio management (which may or may not overlap with the trading strategies), long-short investing based on fundamental analysis, fixed income games, etc… Today, a hedge fund is more of a regulatory category that defines who your clients can be and what financial tools are allowed (generally a wider array than mutual funds, which is why your clients have to conform to certain characteristics) than anything that specifically says what the investment approach has to be (and therefore what skills are required). Some strategies don’t make sense as hedge funds because they are more about asset-gathering than about outperformance, which is why they may seem qualitatively different. For example, hedge funds can take short positions, but most (all? I forget) mutual funds cannot, so strategies that involve substantial shorting need to happen in either a hedge fund or an ETF/CEF format.
Hedge funds always need good marketers and strategic capital-raisers, though, so maybe your private banking experience can help you with that angle.
Don’t say this kind of stuff. It’s look as like “Oh he thinks he’s ‘differentiated’ because he has ‘passion’”. You should be hungry to work and make the firm money while enhancing its reputation…that is a better line than “i have an undying passion for this and that.”
Modeling package is not of immense help…modeling is best learned on the job. Finish CFA and network is your best bet…we just interviewed a guy because his dad was friends with our COO…his resume was “ok” but not something we would have looked at regularly…but we had to take the interview at minimum…he couldve taken that opportunity to wow us. That’s what you need to do…network and become buddies with ppl who have connections so you can get that interview…then wow them with your knowledge and determination…thats when the modeling training from BIWS might help but not really as a resume booster.
^ +1
I believe I have been trolled. And FASTLY, to boot.