Recruitment

Applications for Fall 2026 are closed and under review.

The Trade

What it takes, and what you leave with.

What it takes

One full pitch per semester
A complete idea — written memo, financial model, valuation, and a live defense in front of the group.
Weekly participation
Attendance is mandatory. You challenge others' pitches in Q&A and vote on what enters the portfolio.

What you leave with

4+ Polished Pitches
Graduate with a portfolio of interview-ready ideas built and defended in front of the group.
Sector Expertise
Own an industry end-to-end — coverage, watchlist, and a working understanding of what moves it.
A Public Track Record
Polished research gets published on Substack, giving you a record you can reference in recruiting.
Adversarial Q&A Reps
Every pitch gets challenged. You leave knowing how to defend a thesis under real pressure.
An Investment Philosophy
Repeated pitching and debate builds a genuine point of view on markets, not just experience.

Fit

ERG is for students serious about equity research, asset management, or hedge funds.
You'll be assigned a sector, expected to develop a real view on the companies in it, and held accountable for the ideas you bring to the investment committee.

Thanks to everyone who applied. Assignments are out, and interviews run October 8–15.