Black Diamond Capital might be the world’s most exclusive hedge fund — you can only get in if you are a current Harvard student, and even then less than 10% of applicants make it past the int…
“It’s honestly very similar to the recruiting process that you would go through for a bank or hedge fund or private equity fund,” one current member, a senior, told The Post.
The recruitment effort is not unlike other clubs at Harvard, from the comedy rag Lampoon to infamous a capella If a student moves forward to the second interview, they must put together a stock pitch, including a cash-flow analysis and an investment memo that gets thrown to the lions: “You’ll debate that memo … with two other interviewees and several interviewers,” Cohen explained.
Student investors pitch their proposals to the group each week. Pitches gaining less than 50% of the group’s vote are killed.Once past the velvet ropes, there are poker nights throughout the year. “The amount of the portfolio that gets placed in that investment is related to the proportion of votes that are received.”
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