Advice please: Pivoting to macro or quant from l/s equity
I signed my offer for the CAP/Point72 Academy last year, and I’m looking forward my summer, but over the past year my interests have changed a bit. Based on the books I’ve read and my coursework, I feel like I’d enjoy something macro-related that could also have a heavy quantitative aspect. Something like a Capula, for example. For context, I study physics at school. It’s not a very preprofessional institution, so I’ve had trouble getting advice from peers.
I’d appreciate any ideas on how I can successfully reorient myself for full-time. I’m a bit worried that recruiters will see my summer internship in l/s equity as lacking in quantitative skills and take me less seriously. I also have the option of pursuing a masters in Electrical Engineering to delay graduation by a year.
People have placed into macro from academy. It’s not designed for it, but some people have done it. My advice is speak to macro pods during the summer, try to impress and get an internship with one of the teams.
When you say get an internship with a macro team, do you mean I should see if I can do my rotation with a macro team? Or did you mean I should follow up and try to do something after summer ends?
follow up
Find one of those PMs who claim to be fundamental investors but end up almost exclusively taking hidden factor bets and trading CPI/NFP prints and boom you’ve got yourself a macro seat
On a serious note though, you’d be an interesting candidate for S&T rates desks after the summer which are the single best route into macro investing, interns there typically don’t have prior experience anyway so that won’t be counted against you
Appreciate the answers — any thoughts on pivoting to a quant role specifically?
Nothing you do on your summer will be relevant for quant roles so I wouldn’t refer to it as “pivoting”. People have moved from L/S to macro, and you can speak to the macro teams at the shop you intern at for a sequential internship (or utilise the L/S xp to recruit for s&t, you’d be a top SA applicant)
quant won’t care about experience, more about major/skills
Do you think being at CAP/P72 would allow for some sort of internal path to their more quantitative strategies or not really? Fully understand that there’s probably no process for these things
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