I have some how managed to pull off an interview call at a buy side firm. my background is in software development and I just completed level 1. I really want this job badly, but I am not sure what to expect in the interview . any help will be greatly appreciated. here is the job description : Accountabilities: • Participate in the design and implementation of a cutting-edge, robust and flexible infrastructure to manage and grow our portfolios by working closely with researchers, portfolio managers, and the firm-wide information technology group • Prototype various tools and systems to meet expanding strategies and investment universe • Assist in the research process and the elaboration of new investment ideas • Support data related initiatives to ensure quality, sensibility and availability of data by working closely with Data Services group • Stay abreast of relevant academic research, as well as general macroeconomic and market conditions • Assist in the day-to-day activities of managing a portfolio If you possess the following, we’d like to hear from you: • Masters degree in fields related to Computer Science, Engineering, Mathematics, Statistics, or Operation Research; CFA designation and or MBA desirable • Excellent knowledge of system design, information technologies, and programming languages • Strong mathematical and analytical skills • Demonstrated interest in financial markets; ability to interpret economic news and market conditions • Confidence to challenge, be challenged and ability to persuade colleagues in the interests of pursuing excellence • Excellent oral and written communication skills • Ability to work in a culture of high performance, under pressure to perform with time-sensitive deadlines
I can foresee questions on statistics and some basic market knowledge. Should be a breeze if you know Level 2 Quant.
They are going to test you on “Confidence to challenge, be challenged and ability to persuade colleagues in the interests of pursuing excellence”. Be ready. If you back down and decide that you need to be deferential during the interview process, you are wrecked. Do you have an investment idea? There are some slam dunk investment ideas out there right now - one that I am going to jump on if I get a chance is the upcoming liquidity crunch in converts. Every hedge fund in the world is dealing with redemptions right now. If the funds have held onto their converts (convert arb is dead right now because of the no short rules), then they try to dump them they will be dumping them into an illiquid market. Combine that with an equity whomping and their should be some great deals out there unless you think the world is going to fall apart. That’s one but think of a couple you like and get ready to have someone smart play devil’s advocate (how do you know there are redemptions? why would they have to sell the converts? how will you know when the time is right to buy? why on earth would you want to be buying largely busted converts which are subordinate to everything in the cap. structure if the world is going to end? how would you hedge end of the world risk? isn’t that expensive right now?) I doubt that your IT skills will be much of an issue right now.
Do you still work in CT, Joey?
JDV, You’re such a great - twisted - strategist. Willy
Joey, love your analysis. Would it be fair to expect questions on portfolio optimization, markowitz theory etc, since its the buy side and they deal with portfolio strategies ?
projectplatnyc Wrote: ------------------------------------------------------- > Do you still work in CT, Joey? Yes.
chappu Wrote: ------------------------------------------------------- > Joey, love your analysis. > > Would it be fair to expect questions on portfolio > optimization, markowitz theory etc, since its the > buy side and they deal with portfolio strategies ? Probably not as that doesn’t look like the job. Anyway, nobody uses Markowitz to actually manage portfolios. Tell them that in your experience portfolios are essentially weighted by liquidity and the confidence of the PM in the security. You know that is messed, particularly because rebalancing doesn’t happen that way. Get away from Markowitz as quickly as you can.