Do PM's benefit from interview candidates' trade proposals/stock ideas?

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client9

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Hi,
Recently interviewed for an analyst position and had to submit a trade proposal/stock idea. Do you think there is anything to say/question about PMs/analysts manipulating the interview process to gather new trade ideas for their portfolios from potential candidates?
Thanks.
 
If you're worried about the PM you interviewd with stealing your trade, you probably don't want to be working at that firm.
 
That is a great idea! I think I'm going to post some fake jobs on the internet today and see what ideas I can get out of it.
 
If a PM needs to steal trade ideas from interview candidates, you definitely don't want to work at that firm.
 
NakedPuts Wrote:
-------------------------------------------------------
> If a PM needs to steal trade ideas from interview
> candidates, you definitely don't want to work at
> that firm.


There is that, and if you've got such great trade ideas, why are you even interviewing? They should already know who you are and you should be in there for nothing more than a fit interview!

Yes, your presentation might get a PM to think about something a bit differently (isn't that the point of what you're doing?), but if the PM is relying on interview candidates for trade generation; RUN, don't walk, away.
 
Actually now that I think about it, I was asked for interview trade ideas at my current position, and we've since acted on several of them...uh oh.
 
I get the feeling that interviewing people just to generate trade ideas does happen. However, if you genuinely give good trade ideas, then they should want to hire you. So, like any consultant, you give them a sample of some good work and then say that "there's plenty more where that came from."
 
I disagree with what most have posted here. Ideas are just that - ideas. You still have to do your own work to get comfortable with it. A good PM is getting ideas from anywhere and everywhere he/she can. A PM adds value by separating the good ideas from the bad, not by dismissing ideas just because of their source. A buddy of mine got a good idea from the guy who shines his shoes.

Edit: This does not mean I think PMs interview people to get their ideas. I do not believe that happens.



Edited 1 time(s). Last edit at Tuesday, April 15, 2008 at 12:15PM by tobias.
 
tobias Wrote:
-------------------------------------------------------
> I disagree with what most have posted here. Ideas
> are just that - ideas. You still have to do your
> own work to get comfortable with it. A good PM is
> getting ideas from anywhere and everywhere he/she
> can. A PM adds value by separating the good ideas
> from the bad, not by dismissing ideas just because
> of their source. A buddy of mine got a good idea
> from the guy who shines his shoes.
>
> Edit: This does not mean I think PMs interview
> people to get their ideas. I do not believe that
> happens.


Yeah, to your last point, I think most people were responding to this "Do you think there is anything to say/question about PMs/analysts manipulating the interview process to gather new trade ideas for their portfolios from potential candidates?"
 
Can someone just give me an example of a trade idea you would present at an interview if asked for one. Would it be something as simple as " I would be long DELL today because of it's intrinsic value and long term prospects" or is it something more detailed/complicared than that.

Thanks.
 
We give candidates a universe of about 300 stocks and ask them for one long idea and one short idea, and don't say much beyond that. The quality of what they return is nearly as important as the ideas themselves. For each idea, I prepared a rough approximation of an equity research initiation report (one from a bad firm, say 10 pages long, not 100). I then included all my supporting research (financials, ratios, comp tables, industry analysis) so that each file was about 50 pages long. Some other candidates responded with an email with a paragraph on each idea. Obviously there are different expectations depending on the level of the hire.
 
client9 Wrote:
-------------------------------------------------------
> Hi,
> Recently interviewed for an analyst position and
> had to submit a trade proposal/stock idea. Do you
> think there is anything to say/question about
> PMs/analysts manipulating the interview process to
> gather new trade ideas for their portfolios from
> potential candidates?
> Thanks.

though i doubt this is likely i have heard of a situation where a small hedge fund cold called a bunch of sell-side associates in the same firm/dept and asked them to come in to interview for an analyst role and to bring their best trade ideas. after a few days they told all the interview candidates that they were no longer hiring for the role.

i could see how it could be plausible in the above situation, if you're working in the BO and you're interviewing for your first analyst job (which you applied for on your own) i wouldn't be too worried about anyone stealing your ideas. so it depends...
 
"Recently interviewed for an analyst position and had to submit a trade proposal/stock idea. Do you think there is anything to say/question about PMs/analysts manipulating the interview process to gather new trade ideas for their portfolios from potential candidates?"

No because - chances are - your stock picking ability sucks [why else would you be applying for an Analyst job] and is backed by your living at home. And "B", when you're a PM you get graded on your ability to follow a process or protocal or a cohesive ad consistent investment "thesis" that - and I'll embelish somewhat - can be run by the village idiot in the unlikely event that everyone at your firm is away that day. PMs spend a lot more of their time - over the last 2/3 quarters - meeting with pissed off clients and double ensuring that their MRFPs are bonafide and watching their arses to take the stock idea of some little piss arse punk who lives in the 905. Why do you think we can afford to drive A6s and 911 Carerra 4s?

Willy
 
WillyR Wrote:
-------------------------------------------------------
> at your firm is away that day. PMs spend a lot
> more of their time - over the last 2/3 quarters -
> meeting with pissed off clients and double
> ensuring that their MRFPs are bonafide and
> watching their arses to take the stock idea of
> some little piss arse punk who lives in the 905.
> Why do you think we can afford to drive A6s and
> 911 Carerra 4s?
>
> Willy

LOL... PM or "PM"?



Edited 1 time(s). Last edit at Wednesday, April 16, 2008 at 10:34PM by stylemog.
 
Oh! Yeah! Right! And am I alone on this board...please gents...I am as deep into the finance profession as anyone. And its an 2006 A4. Porsche...yeah right. And let us not forget that I will not lie about my answers. I sincerely believe I answered the question accruately after an initial attempt at comedy.

Willy
 
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