April 21st, 2007, 4:05 pm
You ask " Which would you rather work in." It really depends on what you want to do.Although it might not be that obvious, the difference between trading/investing and manager selection (what a FoF does) is quite large. I'm not so sure that working at a FoF really prepares you to do HF-type work, and in general, it doesn't seem like many FoF people actually move over to funds. I say this based on my experience at a large asset manager and its large FoF operation.If manager selection is really what interests you, definitely go for the FoF. But if your true goal is to work in S&T or at a fund right out of college, I'd go to the quant trading shop.