hello everyone, I’ve posted many times about my career goals on here. I am in my senior year of ugrad, and passed L1 this past summer. Eventually I want to get into PM. GAMCO (Gabelli Asset Management Co.) has many different facets including sell-side research and trading on top of their mutual funds. If I have a chance to start my career in the research department, is that a good move? the job market has been very bad lately, and I feel this is a good opportunity. Does anyone have any opinions on this company and what it could do for my career?
Research on the buy-side is a lot more profitable now than on the sell-side. Why do you think people are moving from sell-side to buy side (i.e., private equity, hedge funds, etc.) The new SEC rules specify that analysts on the sell-side can’t benefit from IPOs anymore
Pacliboi, I understand that. I want to get into the buy side. I am mainly interested for opinions about Gabelli specifically to start my career.
I don’t know much about the company specifically, but it’s a great name so it’ll be tough to go wrong. Mario Gabelli is always referred to as a “legendary investor”.
Take it - no brainer
I don’t have it yet, but I’m doing an internship there and I was hoping I can leverage it into a position full-time
definitely do it
Great job in securing your internship. Unfortunately I have a co-worker who interned btw his 1st and 2nd year in b-school. Said it’s impossible to get a full-time position. Btw full disclosure Gabelli rec’d his MBA from the same school my co-worker attended. But don’t let me dampen your spirits. Work your ass off and I wish you the best of luck. Just wanted to let you know what you were up against.
As a asset management company it was established as a family own and operated business. It has grown dramatically by shear performance results. I would say this would be a great start to buy-side research.
Mario likes to hire “PHDs” Poor, hungry, and dedicated. Keep that in mind when the offer comes. I’d also suggest looking into Mario’s background. I personally think the guy is a greedy slim ball with no idea of the word ethics. He ripped off his shareholders last year taking home a salary of $58M or 2 cents per share of earnings. He scammed the govt with his radio spectrum scam. Then he tried to screw his partners by buying out there position at BV not FMV. He eventually settled all of this, but put up a fight. Mario has his middle finger in everything at GAMCO. And he is not affraid to show it. That said, dont be stupid. Take the job. Super Mario has more experience than all of the fools on this board combined. You’d learn a lot.