Hedge Fund Talent Schools Are Harder to Get In Than Harvard or MIT

Amid a brutal hiring war, Steve Cohen’s Point72, Ken Griffin’s Citadel and other giant hedge funds are going in a radical new direction: Training schemes for in-house superstars. Citadel had more than 136,000 applications from graduates and post-graduates this year to join or intern at the firm. It’s acceptance rate is less than half a percent, well below #harvard and #massachusettsinstituteoftechnology. Nishant Kumar joins Bloomberg Radio's Caroline Hepker and Stephen Carroll to discuss.
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[@TimothyWilliams31]

The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life.

[@MeghanMurphy-ve1hw]

I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.

[@khanJK-o8u]

I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured some money in value stocks and digital asset, i accrued over $80K in dividends last year

[@SuperDevon1994]

I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this expert that guides you?

[@khanJK-o8u]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.

[@SuperDevon1994]

Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.

[@Zero11_ss]

Lol talent - the biggest advantage is getting into the insider circle and nothing else. Won't be surprised how many are their own kids/relatives

[@InStevenWeTrust]

you believe every hire is a result of nepotism and none of them were hired on merit?

[@mizutofu]

@@InStevenWeTrust 80% are hired by nepotism

[@phantomstranger1125]

Most people in quantitative finance are hired on merit lol. There may be a lot of nepotism hires in sell-side traditional finance but that's not the case in buy-side and quant finance.

[@TurnkeyTrading]

who you know rather than what you know?

[@mizutofu]

@@phantomstranger1125 You have no idea what you are talking about. Insider referred candidate automatically gets an interview

[@jimbojimbo6873]

He says traders but then says stock pickers? Am I missing something or is he using traders and portfolio managers interchangeably?

[@davidc4408]

Totally different. Traders are short term. Portfolio managers are long term

[@jimbojimbo6873]

@@davidc4408 i know what they are, i’m asking whether or not the journalist is saying them interchangeably. At a hedge fund the trader would be execution only, not a stock picker.

[@RealRick0408]

I think he is trying to coach the next Warren Buffet to discover the next google and ultimately become the first trillionaire

[@jimbojimbo6873]

@@davidc4408 what are you talking about, it’s a hedgefund, he uses the term trader and stock picker interchangeably, in a hedge fund the traders are execution only not proprietary.

[@TLiu-1b]

I have seen people use them interchangeably when talking about hedge fund.

[@supreme5998]

Give me the 3 trillion. I’ll manage it myself

[@abgta7286]

@@supreme5998 Yeah right. You can barely manage the 17 dollars an hour you make now.

[@LifTyLyM]

Applying to Harvard and MIT costs money. Applying to these hedge funds is free. Because of that the number of applicants will be much higher for the hedge funds and consequently they will have a lower acceptance rate. Thus this comparison is meaningless…

[@jonathanchen5470]

the only people who are aware of these things in the first place is much lower than the number of applicants to Harvard/MIT

[@LifTyLyM]

@@jonathanchen5470 and Harvard, MIT accepts hundreds of student each year. Hedge funds at most a dozen.

[@RahulSharma-ot3wo]

What's the level of preparation that people give when applying for hedge funds

[@Rudzani]

Fewer people are even aware of or interested in working for these hedge funds than getting accepted into a U.S. T10 school

[@RahulSharma-ot3wo]

@@Rudzani well what if lets say 1 million people apply for harvard, but only 50k people actually put in effort. And for hft 50k people apply for it and all 50k people are serious then it's basically the same ratio

[@kingpingchoi246]

Not even news for people. Training to crooks. Just because some people are good with numbers etc makes good contributors not! Why not train these talents to help make the world better rather than chase something that is just relative

[@lolman9350]

"Success Stories" - markets are going up since the past couple of years. Anybody who put money in a decent company is making money. These kids haven't faced the bear market and would probably loose their shit then

[@florianwimmer-AT]

But what are the name of these Training Programs and are they at a post graduate or graduate Level?

[@davidc4408]

Quant stuff is postgraduate level. Other trading grad level. The individual is more important than the education alone. Trading is a unique talent that only part can be taught but you also need natural talent that can not

[@Zero11_ss]

The secret is having your rich dad introduce you.

[@adam4311]

@@davidc4408 false been proven with turtle traders u can breed traders

[@peterzerg2710]

Point72 Academy

[@Sand_1995]

Quant is highschool level or grad level at best. definitely not post grad level. Calculus, partial Derivatives, linear algebra, random processes and stats are pretty much taught at AP level courses and at college.

[@RealRick0408]

He is kinda late into “education” business.. given most people already know student debt & dim career prospects.

[@TheChinaPlay]

Stevie Cohen on Ozempic?

[@estebanperez4171]

No, losing his appetite watching the Panthers and the Mets LOL

[@TheChinaPlay]

@@estebanperez4171 NFL Panthers? They are owned by David Tepper. Easy to get those two mixed up. I mean these billionaires are probably not taking drugs for plebs, more like teenager plasma and Testosterone Replacement

[@ArneArnesen]

@@estebanperez4171 Why would he care about the Panthers?

[@jonyb123a]

This seems similar to the Turtle traders of the late 80s early 90s. That didn't turn out so well iirc.

[@ss-fc2fh]

These sorts of training programs have existed for a long time at prop shops and funds. I went through one at a commodity fund 15+ years ago. Like they said, the acceptance rate is very low. Also, the success rate is low. It is worth noting that the programs heavily screen for personality attributes that they think will lead to success.

[@purpleblush7106]

what is incredibly talented? how do you define it?

[@JesusChrist2000BC]

Someone who is right more than they are wrong. At scale.

[@alpark3024]

anyone can make money trading stocks. you don't need to go to schoo

[@dencentbeatz794]

The associate program?

[@kushyglowy8409]

Fascinating

[@peppercorn4196]

man i wish i could enroll in this school i wonder how i could join them ???

[@bearmarkettradeideas]

That’s a .5% of a percent to get in. Are you currently trading? I have a whole playlist of videos I used to showcase my strategy on my channel.

[@dencentbeatz794]

It’s a new grad associate program lol

[@fullmetaltheorist]

It sounds fine if you just want to make money.

[@ManiSai-oe5ks]

Can i

[@ManiSai-oe5ks]

Where enroll

[@unnamedrtyj]

So much work for something that creates no actual value.

[@AbhijeetGosavi73]

Been learning about the markets lately and I've been thinking the same sometimes, it's such a sought after career but what value does it actually add to the world 🥲?

[@benfranklin100]

@@AbhijeetGosavi73 The markets allow small scale businesses to fast track to a global scale. Companies like Nike, Apple, Microsoft, Moderna, the list goes on... would not be what they are today without the help of the markets bring cash into them. Markets also provide the laymen a way to beat inflation (using ETFs) and help the economy grown at an incredible scale.... its naive to think they dont add value.

[@Jacob_S13]

@@AbhijeetGosavi73 What does it matter?

[@AbhijeetGosavi73]

@@Jacob_S13 i know, i know. it's not as if other fields/jobs are always generating value. but i have a feeling that a lot of the cream of the world's talent goes into finance. a lot of young men who are capable of research and changing the world for good , are stuck making money here. can't really fault anyone, afterall money is ofc necessary. but the loss of such talent is disheartening.

[@leoxd7029]

@@AbhijeetGosavi73 first of all, it’s quite common for people to not know this. That’s okay. Here is the value that comes from trading and investing, and it is HUGE value, globally: capital allocation, which is HIGHLY valuable, market efficiency, which too is highly important, shorting frauds and companies who shouldn’t be around increases market fairness and punishes bad behavior, whether that’s hurting consumers or lying to investors or both. Traders and investors give good companies money, which they invest into jobs, better products and better services, if they trade stock, rewarding good behavior. If they trade derivatives, they still add HUGE global value. Traders are the reason you can buy a stock in Japan from NY if you feel like it and the other way round. Allowing everyone with internet access to have access to the markets, enabling a massive degree of wealth creation.

[@jw999]

Getting rich without making any positive contribution to the world??

[@lloydlebelo4623]

Surely some of them who get rich donate that money to charity.far better than a peasant who has nothing to contribute to society

[@jw999]

That money would have ended up in different places anyway...no need for charity as middleman

[@matthew.m.stevick]

@@jw999👍🏼

[@mobolajiawe160]

@@lloydlebelo4623 lol 😆

[@g.starkiller6354]

Do you understand Asset management? Lol it does create a lot of value around the world, but you have to understand the industry for that

[@shondelateef1130]

How can one enroll in the school? What are the names of the school

[@estebanperez4171]

These aren’t schools… they are trainee programs