CTA buy side firm interview

B

bigbrent701

Hey guys, I am transitioning into the interview phase for a summer internship in trading. Only a couple interviews in internships that are trading related so its important i really impress them.

I have read through VAULTS guides on finance interviews, sales and trading (mostly sell side POV), and general interviews. I have an idea what I should do to prepare. Was hoping for additional comments on how to supplement my preparation. PLEASE NO RETAIL PROP TRADERS! If anyone here works for a CTA firm I would greatly appreciate your advice. I am interviewing for a summer internship as a trading assistant. The company trades commodities including Index futures and interest rate futures.

Thanks.
 
CTAs (pre-hedge funds) are usually looking for specific skillset if it's a permanent hire. They need a C++ programmer, they look for one. They want a compliance officer, they look for one. They want to get a Ph.D. to perk their fund profile, they look for one.

I haven't heard much about a CTA firm hiring someone just to train them or for their potential.

Summer internship? Maybe you should tell them about how rich your family and relatives are. Also, about how connected you are to unsophisticated investors.

This is a serious answer, no joke.
 
Well its unfortunate you did not take me seriously. I have a connection with the former senior VP of trading at this firm. Typically summer internships ARE reserved for children of clients or prospective clients, however they have changed their policy.

It is also unfortunate that you did not answer my question. I did not ask for your opinion on chances of getting this internship. I asked for interview advice not what their typical hiring routines are. Why cant you just answer the question asked instead of putting in your two cents. That is rather unprofessional.
 
I think TSGannGalt is trying to help, even if he doesn't answer your question, you should appreciate the extra information you are getting.

From my experience, you have to be really honest. It certainly helps when you have mutiple skill sets. Honesty is my answer to your question, whether or not it will apply to your interview, I don't know.
 
Quote from bigbrent701:

Well its unfortunate you did not take me seriously. I have a connection with the former senior VP of trading at this firm. Typically summer internships ARE reserved for children of clients or prospective clients, however they have changed their policy.

It is also unfortunate that you did not answer my question. I did not ask for your opinion on chances of getting this internship. I asked for interview advice not what their typical hiring routines are. Why cant you just answer the question asked instead of putting in your two cents. That is rather unprofessional.
More...
good answers. good attitude. i guess that will bring you further
than anything else.

my advice: learn about their business as much as possible. get
books on ctas. identify competitors and know their returns, draw
down lengths, sharpe ratios, correlations and stress correlations
to the operation you are going to enter. see if you can get your
hands on marketing material of any of the big people, and
compare them.

most important of all: try to understand where your company is
standing.

learn about fund of funds. what they like, what they look at. learn
about pension funds and what they look at. understand capital
guarantee products and their relevance for certain types of
customers. maybe get thinking about basel and what it could mean
for your compaines client base.

in short: do homework on BUSINESS.

second thing is trading. program long term trend following ma cross
over strategies for daily data from CSI. get hold of curtis faith'
turtle paper. and then take five minute date on the sp future
and try to program a breakout thing a la toby crable.

these things should be possible and show them what kind of
dedication you have.

good luck.
 
Quote from BENG:

I think TSGannGalt is trying to help, even if he doesn't answer your question, you should appreciate the extra information you are getting.
More...
sorry, there was no information, just more or less cynical
comments. IMHO.
 
Quote from bigbrent701:

I have a connection with the former senior VP of trading at this firm. Typically summer internships ARE reserved for children of clients or prospective clients, however they have changed their policy.
More...

I think you have your answer right there. Since the nepotism in the process is so high, the competition benchmark is quite low. As long as you seem competent & professional and put some strong effort into it, you will get it. Believe it or not, some of your competition will be too arrogant to even bother to prepare for the interview and will come in thinking they already have the position. Although a few of them will be correct in the assumption.

It is also unfortunate that you did not answer my question. I did not ask for your opinion on chances of getting this internship. I asked for interview advice not what their typical hiring routines are. Why cant you just answer the question asked instead of putting in your two cents. That is rather unprofessional.
More...

He did give you good advice, you are just too dense or too egotistical to see it. Ironically, you actually supported his key point with your previous paragraph and your response is what's unprofessional.

I'm sure you'll still get the position judging from the way this country is going, it would surprise me if you did not. It's sad, but quite amusing at the same time.
 
Quote from bigbrent701:

I have a connection with the former senior VP of trading at this firm. Typically summer internships ARE reserved for children of clients or prospective clients, however they have changed their policy.
More...

I think you have your answer right there. Since the nepotism in the process is so high, the competition benchmark is quite low. As long as you seem competent & professional and put some strong effort into it, you will get it. Believe it or not, some of your competition will be too arrogant to even bother to prepare for the interview and will come in thinking they already have the position. Although a few of them will be correct in the assumption.

It is also unfortunate that you did not answer my question. I did not ask for your opinion on chances of getting this internship. I asked for interview advice not what their typical hiring routines are. Why cant you just answer the question asked instead of putting in your two cents. That is rather unprofessional.
More...

He did give you good advice, you are just too dense or too egotistical to see it. Ironically, you actually supported his key point with your previous paragraph and your response is what's unprofessional.

I'm sure you'll still get the position judging from the way this country is going, it would surprise me if you did not. It's sad, but quite amusing at the same time.
 
Man thank you for the specific interview advice you gave. That does seem to be a common theme I have heard so its probably one that is important. Hopefully I do get this internship even if its because of nepotism. I would really like to think I have the skills necessary and am a very strong candidate. Thanks for everyones advice.
 
Had initial phone screen today. Was a little suprised as I was told my HR director that I would just be setting up an interview rather than actually being asked questions. One of the firm's traders asked me a couple questions.

It was very brief, just a couple basic questions to get an idea if i had the basic knowledge of the industry. I feel i hit the questions on the head. It was pretty nerve racking but I did ok.
 
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