Senior Event-Driven Researcher

hermeneutic Investments is a best-in-class proprietary trading firm and hedge fund. It deploys event-driven long/short discretionary and systematic strategies. The partners' decade-long history of success in trading and business building and a firm-wide cultural emphasis on alpha generation, open debate, relentless iteration, and teamwork are key to the firm's continued expansion in a challenging market environment that has hamstrung competitors. A hard-wired emphasis on risk management and opportunistic market participation ensure that hermeneutic Investments will continue its growth trajectory in the coming decades.

Our edge comes from:

• Deep research on market-moving events.
• Speed in responding to events.
• On-chain monitoring and analysis.

To provide an example from early 2024 which was dominated by BTC ETF approval and likelihood:

• Identified the key events that would move markets up until the approval date.
• Researched the magnitude, direction, and timing of each possible material event to prepare for.
• Set up alerts for each identified scenario to react faster than other market participants.
• Added on-chain air cover to monitor key market participants and their movements.

We tend to be right more often than other market participants. We rarely lose on our trade ideas – and with each one netting us a few million on average, the ROI for each researcher we hire is extremely high.

This is an opportunity to:

• Be compensated very well, as our profitability per researcher is very high. Think: retirement money after 5 years.
• It's possible we have some of the top talent in the delta-taking, narrative/events-driven space. You get to learn and be part of an elite, highly intellectual team.
• Get in on the ground floor of a rapidly growing team and industry that will balloon in the future.

Requirements

Most of our trading is heavily information and flows-based. We need someone who has already worked 1-2 years (3-5 years is even better) as a researcher or trader in a premier buy-side hedge fund or high-quality proprietary trading operation, ideally in a space with similar dynamics.

For example:

• We believe Macro / EM / Forex / Commodities is similarly information and flows-based.
• Similar to us, Short-Selling and Event-Based researchers dig heavily into special situations, deeply understanding the legal aspects as well as people involved. This may also be true for some Private Equity associates.

Poor fits would be if you come from a more delta-neutral or quantitative background. For example:

• Quant researchers (i.e. systematic, HFT, or stat-arb) wouldn't be a good fit.
• Equity researchers with long-only mandates or constructing long-short baskets are more concerned with fundamentals than events and people.

Additionally, we require a high degree of intellectual horsepower and passion/drive. Signals we look for include:

• Graduating from a top university. Bonus points for intellectually rigorous programs like math and philosophy.
• Working in demanding and selective jobs such as BB Investment Banking, top tier Private Equity, premier buy-side hedge funds.

After you apply, you can expect the following interview process:

1. CV Screening - Against the criteria above.
2. (Optional) Recruiter Call - If your CV needs additional screening.
3. First Interview - To explain more about the role with case study.
4. Colleague Presentation - See below.
5. CIO Interview

To increase your chance of entering our interview process, please write to recruiting+.investments with your CV and cover letter that includes the answers to the following questions:

1. Why do you meet the requirement for 1-5 years of premier buy-side research experience in a space with similar dynamics? By "similar dynamics," please clearly explain your experience with events- or flow-based research.
2. Can you describe (and ideally link to) a single piece of research you did in the past that is most similar to the work we do?

During the first interview, you'll be asked a case study: how would you cover the upcoming ETH ETF? You may optionally prepare ahead of time and include this in your cover letter, which will increase the chance you receive an interview.

During the colleague presentation, we'll ask you to present a piece of research you did in the past that is most similar to the work we do and you will be asked questions about it.

Throughout the process, you'll be assessed for cultural fit through our company values:

1. Drive - Passionate team members who seek to excel and innovate in their roles.
2. Ownership - Individuals who take responsibility and act as integral parts of the team.
3. Judgment - Candidates who focus on impactful decisions that drive results.
4. Openness - A culture of transparency and constructive collaboration.
5. Competence - High-performing individuals with a strong aptitude for data and analytics.