Noob question - hedge funds

[wildzer0]

I took a job at a small hedge fund a few weeks ago as a programmer (they manage about 100 million dollars, but there's not many employees, I'm not sure how that rates in terms of size). They've been very successful for a while and I feel like this could be a really good opportunity to learn about the stock market. The thing is, I have only the most rudimentary knowledge of how stocks work. I'm staring at crazy formulas and data all day but it means absolutely nothing to me. But, I work closely with a high up guy at the company who is willing to teach me whatever I want to learn. So for the experienced people here, if you had this opportunity what sort of questions would you ask and what would you concentrate on learning?

[DcifrThs]

[ QUOTE ]
I took a job at a small hedge fund a few weeks ago as a programmer (they manage about 100 million dollars, but there's not many employees, I'm not sure how that rates in terms of size). They've been very successful for a while and I feel like this could be a really good opportunity to learn about the stock market. The thing is, I have only the most rudimentary knowledge of how stocks work. I'm staring at crazy formulas and data all day but it means absolutely nothing to me. But, I work closely with a high up guy at the company who is willing to teach me whatever I want to learn. So for the experienced people here, if you had this opportunity what sort of questions would you ask and what would you concentrate on learning?

[/ QUOTE ]

where is the fund located ? (just outta curiousity)

what is their strategy? (do they concentrate solely on equities? long/short? event driven? merger arb? etc.)

Barron

[wildzer0]

It's in MD. Their strategy is mainly long/short.

[Snoman13]

Get him to teach you everything he can. Free knowledge.

And if you can ask him what it takes to get into managing hegde funds? Thanks.

[z28dreams]

If you don't take advantage of this, please refer me in [img]/images/graemlins/smile.gif[/img]

I'm trying to figure out how to switch into a less-techie and more financy type job.

[petp_the_greek]

just watch and learn. ask him WHY he is buying and selling those particular equities. read the business section of the newspaper every day (preferably the WSJ) and watch CNBC/bloomberg TV ever day and have conversations about what u read. if he notices youre very into it, you'll go far.

[krishan]

if you don't have an accounting background take a class at your local community college/read a book.

Krishan

[jws43yale]

Ask him about what kind of leverage they use and how they employ it. Are they leveraged 4x in equities through margin and borrowing? How often do they trade? It sounds like this might be a quant fund trading on models constantly throughout the day. If so find out how they created their models and why they work.

[DcifrThs]

start simple.

- ask him to take one of his favorite ideas and break it down from top to bottom and back up again. start with the company, what it does, etc. working down to why it seems good to him and then back up to see how he decides how much to invest, what time line etc.

start there and many more questions will likely come along the way.

Barron

[PRE]

You really won't be able to learn too many useful things in this situation without having some sort of background. If you are serious about this, I would begin reading a few investment books.