Point72 Interview Questions

The interview process at Point72 can be long and difficult, with multiple
rounds of interviews and testing. The first round is usually a written test,
followed by a case study. For the final round, candidates may have to do a
presentation or pitch a stock. The whole process can take up to two weeks.

1. How would you define a hedge fund?

Point72 is a hedge fund, so the interviewer may want to know how you define
this term. Your answer should include your definition of a hedge fund and
also why it’s important for Point72 to be one.

Example: “A hedge fund is an investment vehicle that uses multiple

strategies to generate returns in any market conditions. It can invest in
stocks, bonds, commodities or currencies, but its main goal is to protect
investors from losses. This is because hedge funds are private investments,
which means they’re not regulated by the Securities and Exchange
Commission (SEC). They don’t have to disclose their performance data
either.”

2. Tell me about your understanding of the capital markets.

This question is a great way to test your knowledge of the financial markets
and how they work. You can use this opportunity to show that you have an in-
depth understanding of the capital markets, including their history, current
trends and future outlooks.

Example: “The capital markets are where investors buy and sell stocks,
bonds, commodities and other securities. The U.S. capital market is one of the
largest in the world, with over $50 trillion worth of assets traded every year. I
understand that the capital markets are constantly changing, so it’s important
for me to stay up-to-date on any new developments or regulations.”

3. What is an event-driven strategy and how does it impact

the market?

Point72 invests in event-driven strategies, which are a type of investment that

depends on an upcoming event to make money. An interviewer may ask this
question to see if you have experience with event-driven strategies and how
they can impact the market. In your answer, try to explain what an event-
driven strategy is and why it impacts the market.

Example: “Event-driven strategies involve investing in companies based on

upcoming events. For example, I worked at a hedge fund where we invested
in stocks before mergers and acquisitions were announced. This strategy
impacted the market because when we made investments based on these
events, other investors would follow our lead and also invest in those stocks.”

4. How do you think technology will change financial markets

in the next five years?

This question is an opportunity to show your knowledge of the financial

industry and how you can apply it to future trends. Use examples from your
own experience or research to explain how technology has already changed
the financial market, and what you think will happen in the next five years.

Example: “I believe that technology will continue to change financial

markets in the next five years. For example, I have seen a lot of growth in
robo-advisors, which are online investment advisors that use algorithms to
manage client portfolios. These services are becoming more popular because
they’re easy to use and offer low fees. In my last role, we used robo-advisors
for our clients who wanted to invest but didn’t want to spend time researching
their options.”

5. Why do you want to work at Point72?

This question is a great way to show your interest in the company and its
values. It also allows you to talk about what attracted you to this role, which
can be helpful if you are applying for multiple positions at Point72.
Example: “I want to work at Point72 because I am passionate about
investing and believe that it’s important to invest ethically. Your firm has an
excellent reputation for doing so, and I would love to be part of that team. I
have always been interested in finance, and I think working here would allow
me to use my skills to make a positive impact on the world.”

6. Give us an example of a time where a trade did not go as

expected, how did you handle it?

This question is an opportunity to show your problem-solving skills and

ability to learn from mistakes. When answering this question, it can be
helpful to highlight a specific situation where you were able to overcome
challenges or obstacles.

Example: “In my last role as a portfolio manager, I was responsible for

managing multiple accounts that included both long-term and short-term
trades. One of the accounts I managed had a large position in one company’s
stock, which resulted in a significant loss when the company announced
layoffs. While I was disappointed with the outcome, I learned from the
experience and adjusted my strategy so that similar situations would not
occur again.”

7. What type of investment strategies interest you most?

Point72 invests in multiple asset classes and strategies, so the interviewer

wants to know which ones you’re most interested in. This helps them
understand if your interests align with Point72’s investment strategy.

Example: “I’m very passionate about emerging markets because I believe

they have a lot of potential for growth. I also enjoy investing in small-cap
stocks because there are always opportunities to find undervalued companies
that can grow into large corporations. Finally, I like value investing because
it allows me to find companies that are trading at low prices but still have
strong fundamentals.”

8. Do you have experience using Bloomberg terminals?

Point72 uses Bloomberg terminals to monitor financial markets and make

investment decisions. If you’re interviewing for a role that requires using
Bloomberg, it’s important to show the interviewer that you have experience
with this software.

Example: “I’ve used Bloomberg in my previous roles as an analyst and

portfolio manager. I find it helpful to use Bloomberg to analyze market trends
and compare different companies’ performance. It also helps me stay up-to-
date on current events that may affect the financial markets.”

9. What are some things that you look for when analyzing a

stock?

This question is a great way to see how you approach your work and what
skills you use. When answering this question, it can be helpful to mention
specific strategies or methods that you use when analyzing stocks.

Example: “When looking at a stock, I first look at the company’s financial

statements. This helps me understand their current situation and if they are in
good standing. Next, I look at the balance sheet to see if there are any assets
that may help them grow. Then, I look at the income statement to see if they
have been making money consistently. Finally, I compare the company to
others in its industry to see where it stands.”

10. How often do you check news updates on stocks that you

own?

Point72 invests in multiple asset classes and strategies worldwide. The

interviewer wants to know if you have experience with this type of
investment strategy. Your answer should show that you understand the
importance of keeping up-to-date on news about your investments.

Example: “I check my portfolio at least once a week, but I also subscribe to

email alerts from financial websites so I can get updates when there are
major changes in stock prices or company announcements. This helps me stay
informed about any opportunities for growth.”
11. Are you comfortable working with clients or customers?

Point72 has a large client base, and the company wants to make sure you’re
comfortable working with them. This question helps interviewers determine if
you have experience interacting with clients or customers. Use your answer to
highlight any previous customer service experience.

Example: “I’ve worked in sales for five years now, so I’m very familiar with
how to interact with clients or customers. In my last position, I was
responsible for managing our social media accounts and responding to
comments and questions from followers. I also helped develop new marketing
strategies that would attract more customers.”

12. Do you have any experience creating models?

Point72 uses models to analyze and predict market trends. This question helps
the interviewer determine if you have experience with Point72’s modeling
process. Use your answer to highlight any previous modeling experience or
skills that may be transferable to this role.

Example: “I’ve used Excel for many years, so I’m familiar with creating
formulas and functions. However, my last job required me to use a more
advanced modeling software called MATLAB. It was challenging at first, but
after some practice, I became proficient in using it. I can confidently say that
I could apply what I learned from MATLAB to excel.”

13. What has been your favorite class so far?

Point72 is a large company that invests in multiple asset classes and

strategies. The interviewer may ask this question to learn more about your
interests and passions, as well as how you might fit into Point72’s culture.
When answering this question, try to be honest about what you enjoy
studying the most while also showing enthusiasm for learning new things.

Example: “My favorite class so far has been my business ethics course. I’ve
always had an interest in ethical behavior and wanted to know more about
why people make certain decisions. In this class, we learned about different
types of ethical dilemmas and discussed ways businesses can avoid these
situations.”
14. In what ways can you contribute to our team’s success?

Point72 is a highly competitive workplace, and employees are expected to

contribute to the company’s success. Your answer should show that you
understand this expectation and have the skills necessary to succeed in your
role.

Example: “I am an extremely hard worker who always strives for excellence.

I know that Point72 has high expectations of its employees, so I’m prepared
to work as many hours as it takes to get my job done. I also believe that
teamwork is essential to success, so I will do whatever I can to support my
colleagues. Finally, I am committed to learning new things and developing
my skills, which means I’ll be open to feedback and suggestions.”

15. If we were to ask one of your professors about you, what

would they say?

This question is a great way to learn more about the candidate’s academic
background and how they’ve grown since their college days. It can also help
you determine if they have any connections with Point72 that could be
beneficial for your hiring process.

Example: “I had an accounting professor in my senior year who was very

passionate about his work, which made it easy to pay attention in class. He
would always tell us stories of his time working at different companies and
what he learned from each experience. I think he would say that I’m a hard
worker who pays attention in class and asks questions when I need
clarification.”

16. Have you ever worked under pressure? Describe a time

when you had to perform under pressure.

Point72 is a high-pressure environment, and the interviewer may ask this

question to see how you handle pressure. When answering this question, it
can be helpful to describe a time when you performed well under pressure
and what helped you succeed.

Example: “I have worked in investment banking for five years now, and I’ve
had many opportunities to work under pressure. In my previous role as an
analyst, I was responsible for analyzing multiple companies at once. This
meant that I often had tight deadlines to meet. However, I always made sure
to prioritize my work so that I could complete it on time. I also learned to
manage my stress levels by taking breaks throughout the day.”

17. Can you tell us about a time when you disagreed with

someone and how you handled it?

Point72 is a company that values teamwork and collaboration. Your answer to

this question can show the interviewer how you handle disagreements in the
workplace. Use your answer to highlight your ability to collaborate with
others, communicate effectively and solve problems creatively.

Example: “In my last role as an analyst, I disagreed with my supervisor

about which stocks we should invest in. Instead of arguing with her, I
presented my case for why I thought those stocks were good investments. She
agreed to let me make the investment, and it turned out to be one of our best
decisions. We learned that sometimes it’s better to disagree respectfully than
to agree just to please someone.”

18. When was the last time you lost money on an investment?

How much money did you lose?

Point72 is a highly competitive environment, and the interviewer wants to

know how you react when things don’t go your way. Your answer should
show that you can take constructive criticism and learn from it.

Example: “I once invested in a company that was doing well at first but then
started losing money. I didn’t want to sell because I thought the stock would
recover, so I held on for several months before selling at a loss of $10,000. It
taught me to be more cautious about my investments.”
19. We like to hire people who are quick learners. Give an

example of a time when you learned something quickly.

This question is a great way to show your ability to learn new things.
Employers want people who can adapt and grow with their company, so it’s
important to highlight how you’ve done this in the past.

Example: “When I first started working as an analyst, I was tasked with

creating a financial model for a client. I had never created one before, but my
manager helped me through the process. After that, I practiced making
models on my own until I became comfortable with the process. Now, I’m
able to create models quickly and efficiently.”

20. Which three qualities are important to be successful in this

industry?

This question is a great way to show your knowledge of the industry and how
you can apply it to this role. When answering, think about what qualities you
have that make you successful in your current or past roles. Consider
including these qualities in your answer.

Example: “I believe three qualities are important for success in this industry.
The first quality is creativity. I find that many people in finance rely on tried-
and-true methods, but sometimes we need to be more creative with our
strategies. Being able to look at things from different angles helps me come
up with new ideas and solutions. The second quality is communication. In my
experience, being able to communicate effectively has helped me solve
problems and achieve goals. I am always willing to listen to others’ opinions
and provide feedback when appropriate. Finally, I think collaboration is an
important quality. Collaboration allows us to work together toward common
goals.”

COMMON POINT72 INTERVIEW QUESTIONS

 How would you define a hedge fund?

 Tell me about your understanding of the capital markets.

 What is an event-driven strategy and how does it impact the market?

 How do you think technology will change financial markets in the next five years?

 Why do you want to work at Point72?

 Give us an example of a time where a trade did not go as expected, how did you handle it?

 What type of investment strategies interest you most?

 Do you have experience using Bloomberg terminals?

 What are some things that you look for when analyzing a stock?

 How often do you check news updates on stocks that you own?

 Are you comfortable working with clients or customers?

 Do you have any experience creating models?

 What has been your favorite class so far?

 In what ways can you contribute to our team’s success?

 If we were to ask one of your professors about you, what would they say?

 Have you ever worked under pressure? Describe a time when you had to perform under
pressure.

 Can you tell us about a time when you disagreed with someone and how you handled it?
 When was the last time you lost money on an investment? How much money did you lose?

 We like to hire people who are quick learners. Give an example of a time when you learned
something quickly.

 Which three qualities are important to be successful in this industry?

投递入口：

https://careers.point72.com/?experience=early%20career;internships

Interview 视频：

Here's What You Should Know About Point 72 Academy.mp4

网申指南：

Big and Small Questions to Ask When Choosing an Internship - Point72.pdfApplying for the
Academy Internship - Point72.pdf

真人面经
@ vedpiyush

If we are doing hundred of t-tests that means there are either hundred metrics and two
treatments or hundred treatments and one metric. In the former case consider the example of
an A/B test conducted by an website. They could be testing out two different UIs and collecting
hundreds of metrics that are important to them. Then we could do hundred t-tests to test if the
treatment had a significant impact on each of the hundred metrics. In the latter case, we could
just be collecting one metric say the time spent on the website and might be testing out
hundred different UIs.

In each case, if we individually do the tests at 5% significance level that doesn’t mean that our
type 1 error rate for the experiment which is probability of making atleast one type 1 error in
the multiple comparisons will also be 5%. It can be shown to be roughly equal to 1-0.95^n,
where n is the number of tests being conducted.

Long story short this means if we do too many t-tests and observe statistically significant results
then we cannot be sure if that is because the treatment really worked or because our method
has such highly inflated type 1 error rate control. To alleviate this problem we can pose the
problem as doing an F test ANOVA where we will look at the pairwise comparisons only if we
have evidence that there is atleast a pair of treatments that are significantly different. This
method can be shown to have an adequate error control at 5%.

Like many other people have suggested, we could resort to doing p-value corrections for the
multiple comparisons. These adjustments vary from conservative to liberal. Depending upon the
business context, for example how severe is the consequence of making a Type 1 error? If we
are in a field such a drug development or something risky a Type 1 error could be very severe
and we should use strict p-value control, but if we are in some R&D with enough budget and
the goal of vetting from across an initial candidate pool of treatments then we could use a
liberal p-value adjustment.

Another approach would be to directly do the comparisons you had planned to do and not
look at any other comparisons other than that. This is just my personal opinion and sometimes
seems a little weird to me but there are some proponents of this strategy that we do not need
much adjustments if we just look at the comparisons that we intended to look at. It’s as if by
looking at other irrelevant ones we lose the ability to distinguish signal from noise. To me
sometimes this seems like an explanation from physics on the behaviour of light particles.

@ lmack
Type I error will scale with the number of t-tests you run. If your significance level alpha for a
single t-test is 0.05, i.e we allow 5% Type I error rate on a single test, then across many tests
p(Type I) error will increase.
i.e with 2 tests:

P(type I error) = p(type I error on A OR type I error on B) = 2p(type I error on single test) -
p(type I error on A AND type I error on B) = 2*.05 - .05^2 (assuming independence of tests) =
0.5 - .025 = .075

If you want your p(type I error) across n-tests to remain at 5%, you will need to decrease the
alpha in each individual test.
Otherwise, you can try and run an F-test to start in order to identify if a least 1 test sees some
significant effect. Then run a t-test on the specific experiment with the highest effect size.
Granted, the p-value of the test will also depend on the variance of the sample in the given
test, if we assume constant variance across tests, then the test with the highest effect size is in
expectation the best performing test. Only running a single t-test will keep your p(type I error)
low

一亩三分地
 Cognitive Test and Video Interview (Hirevue)

Point72 Assessment Tests

Point72 utilizes a variety of pre-employment assessment tests in its hiring process. Some tests you
may encounter, depending on the position and the level of the job for which you are applying,
include the following.

The Point72 Wonderlic Cognitive Ability Test

Point72 cognitive reasoning assessment, also known as the Wonderlic Cognitive Ability—

Personnel Test, assesses an applicant's ability to learn, adapt, solve problems, and understand

instructions, as well as verbal and math skills. The test contains questions about mathematics
(including number series and complex mathematical word problems), vocabulary (including
idiom proficiency), analogies, finding similarities, and grammar skills (such as error detecting and
sentence structuring).

There are two versions of this Wonderlic exam– the Quicktest (WPT-Q) and the full-length

version, the Personnel Test (WPT-R).

The Wonderlic Personnel Test–Revised, also known as the Contemporary Cognitive Ability Test,
consists of 50 questions and must be completed within 12 minutes. In order to answer all the
questions within the time limit, it is vital that you sharpen your analytical skills, quick response
times, and decision-making skills.

The Wonderlic Personnel Quicktest (WPT-Q), also known as the Wonderlic Pretest, is the
shortened version of the Wonderlic Personnel Test-R (WPT-R). This version contains 30 questions
which are to be completed within 8 minutes.

Personality Test

Depending on the position, you may be required to complete personality tests to ensure that you

are not only compatible with the position for which you are applying, but compatible with the
company.

Personality tests can highlight your professional strengths and weaknesses, in addition to
providing employers with personal insight that may not come across in an interview.

Point72 Hiring Process

The Point72 hiring and recruitment process is composed of the following steps which need to be
completed successfully if you hope to obtain a job offer.

 Application– You will be asked to complete a brief online application which will be reviewed
by Point72 management. If your application is successful, you will be contacted to move on to
the next stage.

 Assessment tests– You will be asked to complete a variety of assessment tests which vary
according to the position for which you are applying. You may be asked to complete the point72
cognitive reasoning assessment, a personality test, a basic skills test, a technical skills test, or
other kinds of assessment tests.

 Interviews– You will encounter various types of interviews, some of which may include
video, Skype, in-person, and panel interviews.