Get the brochure

View the full program syllabus as well as details on faculty, guest speakers and key learner benefits.

Early Registration Ends Apr 15, 2024 $200 Application Fee will be added after Apr 15.

Program overview

Learn how hedge funds and other buy-side firms approach investing

Wharton Online Wall Street Prep Buy-Side Investing Program Certificate
Program Overview | Hedge Fund & Buy-Side Investing Certificate Program
Video poster
  • Learn institutional-grade fundamental analysis

    Learn to analyze public equities using the processes and strategies employed by the world’s leading hedge funds and institutional investment managers.

  • Learn from top faculty and practitioners

    You'll learn directly from Wharton School faculty, experienced investors and leaders from some of the top buy-side investment firms in the world.

  • Gain a globally recognized certificate

    At the conclusion of the 8-week program, participants receive a digital certificate from Wharton Online and program graduate access to lifelong career resources.

Learn More
Hedge Fund & Buy-Side Investing Certificate Program

A unique collaboration with Wall Street Prep

This program combines the institutional knowledge from the world’s leading business school with the practical skills approach of the trainers who the buy-side industry bring in-house to prepare their professionals for the rigor of the job.


Over the course of 8 weeks, you’ll learn investing fundamentals, competitive analysis and strategy from Wharton’s world-class faculty. Then, you’ll learn the practical frameworks and technical skills buy-side professionals use to evaluate investments from Wall Street Prep and the world’s top investors.

Wall Street Prep has trained leading buy-side firms including:

Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo
Company logo

Learn from world-reknowned faculty
and leading buy-side practitioners

  • Nicolaj Siggelkow

    David M. Knott Professor of Management, Wharton School
    View Bio
  • David Musto

    Ronald O. Perelman Professor in Finance, Wharton School
    View Bio
  • Brett Caughran

    Buy-Side Program Director,
    Wall Street Prep
    View Bio
  • Paul Johnson

    Buy-Side Program Co-Director,
    Wall Street Prep
    View Bio


  • Howard Marks

    Co-founder, Oaktree Capital
    View Bio
  • Francois Trahan

    President, Macro Specialist Designation
    View Bio
  • Ricky Sandler

    Founder & CEO, Eminence Capital
    View Bio
  • Michael Gatto

    Parter, Silver Point Finance
    View Bio


  • Stefan Allicock

    Senior Instructor, Wall Street Prep
    View Bio
  • Harsh Bagla

    Senior Instructor, Wall Street Prep
    View Bio
  • Freddy Brick

    Partner, Muddy Waters Capital
    View Bio
  • Rocky Cahan

    US Strategist, Empirical Research Partners
    View Bio
  • Brett Caughran

    Buy-Side Program Director,
    Wall Street Prep
    View Bio
  • Rishi Dixit

    Senior Analyst, Valiant Capital
    View Bio
  • Bernard Duffy

    Senior Instructor, Wall Street Prep
    View Bio
  • Michael Gatto

    Parter, Silver Point Finance
    View Bio
  • Paul Johnson

    Buy-Side Program Co-Director,
    Wall Street Prep
    View Bio
  • Jin Joshi

    Managing Director, Dynamics Search Partners
    View Bio
  • Samantha Kandybowicz, CFA

    Senior Instructor, Wall Street Prep
    View Bio
  • Jen Liang, CFA

    Senior Instructor, Wall Street Prep
    View Bio
  • Howard Marks

    Co-founder, Oaktree Capital
    View Bio
  • Matt Ober, CAIA

    General Partner, Social Leverage
    View Bio
  • Alix Pasquet

    Managing Partner, Prime Macaya Capital Management
    View Bio
  • Mark Potter

    Senior Instructor, Wall Street Prep
    View Bio
  • Ricky Sandler

    Founder & CEO, Eminence Capital
    View Bio
  • Nicolaj Siggelkow

    David M. Knott Professor of Management, Wharton School
    View Bio
  • Abdul Tambal

    Senior Instructor, Wall Street Prep
    View Bio
  • Kelvin Teo

    Senior Instructor, Wall Street Prep
    View Bio
  • Francois Trahan

    President, Macro Specialist Designation
    View Bio
  • Shawn Badlani

    Founder and Chief Investment Officer at Honest Capital LLC
    View Bio

8-Week Buy-Side
Equity Research Program
Gain the skillset of an early- to mid-level buy-side equity research analyst.
8-10 Hour Weekly
Time Commitment
A comprehensive certificate program designed to fit into your busy schedule.
Self-paced Online
Learning Experience
Complete the program on our online learning platform at your own pace.
The Same Training Used
by Institutional Investment Managers
Access the same lessons and methods taught by the world’s leading investment managers.

How You'll Learn

How You'll Learn

The Wharton & Wall Street Prep Hedge Fund & Buy-Side Investing Certificate Program is an immersive learning experience made up of self-paced video lectures, real-world exercises, industry case studies and full faculty support.

Learn From Hedge Fund and Buy-Side Investors
Hear directly from globally-recognized buy-side investors about the frameworks and analyses that go into institutional-grade investment analysis.
Tailored Learning
Through Electives
Customize your experience based on your specific learning objectives.
Learn Real World
Stock Pitching
Learn first-hand how buy-side analysts tackle idea generation, financial modeling and stock pitches.
Weekly Office Hours
& Dedicated Support
Program faculty and support staff is available every step of the way.

Earn a certificate from Wharton Online upon successful completion

Upon successful completion of the program, your Wharton Online-issued certificate will be emailed to you in a digital format you can use to demonstrate your achievement on your LinkedIn profile and resume.

Wharton Online Wall Street Prep PE Program Certificate Wharton Online Wall Street Prep PE Program Certificate
Open quote
“This certificate program can best be described as online learning meets MBA-style networking. On the one hand you’re working efficiently on your own time, attending virtual office hours and 1:1 tutoring sessions, but you also have great networking opportunities as you would on campus." Nicolaj Siggelkow, Professor of Management and MBA Program Vice Dean, Wharton School

Program curriculum

Over the course of eight weeks, you’ll learn the foundations of investing, competitive analysis and strategy and the practical frameworks and technical skills that buy-side professionals use to evaluate investments. The program is delivered in a weekly self-paced online format and culminates in a closing ceremony and the receipt of a Certificate from Wharton Online.

Module 1

Investment Fundamentals, Part 1

Week 1 of the program introduces Investment Fundamentals, focusing on the active management industry, corporate finance, and capital markets, to establish the foundational knowledge necessary for buy-side investment professionals. This unit covers key concepts such as market efficiency, indexing, alpha measurement, optimal capital structure, capital return to shareholders, and cost of capital.

  • An Academic Overview of Market Efficiency
  • Corporate Finance Foundations: Cost of Capital, Capital Structure, DCF
  • Capital Markets Foundations: The IPO Process
  • The Active Management Ecosystem

Module 2

Investment Fundamentals, Part 2

In Module 2, the program delves into advanced aspects of investment fundamentals, focusing on the cost of capital, valuation approaches, and competitive strategy in fundamental investing. This week bridges academic concepts with practical investment approaches, covering topics like market efficiency and the skills necessary for success in buy-side investment roles.

  • Valuation Approaches (Market Multiple vs DCF vs Comps)
  • Competitive Strategy
  • A Practitioner's View of Market Efficiency
  • The Foundational Skills Needed on the Buy-Side

Module 3

Fundamental Foundations

Module 3 focuses on developing essential skills for buy-side investment, including an understanding of the structure and role of analysts in buy-side firms. This module also explores the reasons behind stock price movements, market efficiency, and the concept of mispricing in the market.

  • The Foundational Skills Needed on the Buy-Side, Continued
  • A Discussion of Market Efficiency
  • Life on the Buy-Side: The Role of an Analyst
  • Why Stocks Move Up & Down

Module 4

Buy-Side Modeling

This module provides an in-depth exploration of buy-side modeling, teaching students the process from initial steps to practical application. It includes techniques for information gathering, trend analysis, forecasting, and strategies to enhance model effectiveness and efficiency for decision-making in the investment process.

  • Building a Forecasting Architecture
  • Top-7 “Must-Haves” for a PM in a Model
  • Model Sections, including Comps/DCF/Deep Dive Analysis/Earnings Power
  • Disaggregating Revenue Growth to Understand Key Drivers

Module 5

The Thesis Development Process, Part 1

This module trains students in the complete lifecycle of investment idea generation, focusing on structured processes for idea development, assessment of business fundamentals, and valuation. It also teaches methods to identify and analyze stock mispricing, competitive advantages, and techniques for rigorous investment thesis evaluation and preparation for key meetings.

  • Full Overview of a Deep Dive Process
  • Ingredients of ETIK: Everything There Is (to) Know
  • Efficiency and Time Management During Research
  • A System for Effective Information Management

Module 6

The Thesis Development Process, Part 2

This module guides students through the development of a comprehensive investment thesis, including information gathering, model analysis, and the evaluation of investment opportunities. It covers techniques for understanding revenue growth, the rationale behind investment choices, and the role of shorting in the market, along with insights into alternative data and short selling strategies.

  • The FEV (Fundamentals, Expectations, Valuation) Framework
  • The “Sniff Test” and How to “Fish Where the Fish Are”
  • The Focus Five: Top Drivers of Business Value Creation
  • How Short Squeezes Work
  • Shorting Idea Generation

Module 7

Advanced Concepts

This module focuses on understanding stock price fluctuations and managing earnings season volatility. It encompasses pitch training, covering how to formulate and articulate investment ideas, assess risks, and handle critical discussions during market downturns, along with an introduction to quantitative approaches to stock selection.

  • Avoiding Thesis Creep/When to Sell
  • How to Make a Pitch Pop
  • How to Change Your Mind with a PM
  • Value Investing Principles

Module 8

Bringing it All Together

In this final module, students integrate their course learnings to prepare for roles in buy-side investing. The module covers career development, from junior analyst to portfolio manager, and focuses on effective time management, coverage maintenance, and sector metric tracking, providing a comprehensive understanding of asset management and buy-side perspectives.

  • Maintaining Coverage Capacity and Analysts’ Max Coverage Capacity
  • How to be a Great Analyst
  • The 90% Rule for Idea Selection
  • Careers on the Buy-Side
Expand to View All

Applicant profile

The Wharton & Wall Street Prep Hedge Fund & Buy-Side Investing Certificate Program is designed for finance professionals in their early to mid career seeking to understand how buy-side professionals analyze public equities.

New Buy-Side Analysts

Early-career analysts seeking to expand their toolkit and learn frameworks to excel in their current seat.

Sell-Side Research Analysts

Early-career sell-side associates looking to transition to the buy-side and more experienced sell-side analysts looking to better serve their clients.

Allocators

Professionals charged with evaluating fund managers for diverse institutional portfolios.

Family Offices

In-house professionals or principals looking to implement institutional quality research practices or evaluate third-party fund managers.

Wealth Managers

Financial advisors managing discretionary portfolios of individual equity securities, or who are evaluating third-party fund managers.

Vendors

Data and technology providers seeking to better understand fundamental investing and their clients’ needs.

Investment Professionals

Senior analysts and portfolio managers who want to refresh their skillset or learn the investment process of leading hedge funds.

Career Switchers

Early to mid career professionals seeking to transition into buy-side equity investing.

Students

Undergrad and graduate business, finance and accounting students applying for buy-side internships and full time roles.

New Buy-Side Analysts
Early-career analysts seeking to expand their toolkit and learn frameworks to excel in their current seat.
Sell-Side Research Analysts
Early-career sell-side associates looking to transition to the buy-side and more experienced sell-side analysts looking to better serve their clients.
Allocators
Professionals charged with evaluating fund managers for diverse institutional portfolios.
Family Offices
In-house professionals or principals looking to implement institutional quality research practices or evaluate third-party fund managers.
Wealth Managers
Financial advisors managing discretionary portfolios of individual equity securities, or who are evaluating third-party fund managers.
Vendors
Data and technology providers seeking to better understand fundamental investing and their clients’ needs.
Investment Professionals
Senior analysts and portfolio managers who want to refresh their skillset or learn the investment process of leading hedge funds.
Career Switchers
Early to mid career professionals seeking to transition into buy-side equity investing.
Students
Undergrad and graduate business, finance and accounting students applying for buy-side internships and full time roles.


Open quote "This certificate program was designed directly with the Buy-Side professional in mind — hedge fund analysts and public equities investors — but it’s also for financial advisors, wealth managers, sell-side career switchers and students. Namely, anyone in public markets that seeks to understand real-world fundamental analysis. Brett Caughran, Program Director
Brett Caughran
Applicant Career Levels

Applicant Industry Distribution

1 Hedge Funds, Long-Only, Family Offices

2 Investment Banking, Private Equity, Sell-Side Equity Research

3 Accounting, Data Providers

Countries Represented
Top Roles Applicants Hold
1. Long/Short Hedge Fund Analyst
2. Long Only Analyst
3. Quantitative Analyst
4. Sell-Side Research Analyst
5. Equity Sales & Trading Associate
6. Wealth Manager / Financial Advisor
7. Private Equity Associate
8. Investment Banker / Management Consultant
9. Investment Analyst
10. Data / Professional Services Vendor

Attend an information session

Next Session: Monday, Apr. 15, 4pm (ET)

Tuition & payment options

Tuition
$4,800
*For enrollments before Apr 15. $200 Application Fee will be added after Apr 15.

OR

$960/month
Pay 5 monthly installments of $960.
Tuition Assistance
$550 off
Apply to get $550 off your tuition fee

Join a Global Network

Join a Global Career Support Network

Enrollees access a large and highly engaged global network of peers who are committed to give us much as they get and to support one another. Connections built throughout the program are strengthen via in person and virtual meetups, discussion groups and networking events.


Linked In conversation card Linked In conversation card Linked In conversation card

Invitation-Only Wharton/Wall Street Prep Group on LinkedIn

Upon completion of the program, graduates receive an invitation to join the Wharton Online / Wall Street Prep Hedge Fund & Buy-Side Investing Certificate Program Alumni Group on LinkedIn. Through this group, graduates can directly connect with the entire graduate network, seek advice and access graduate-only online events and resources.

Linked In conversation card Linked In conversation card Linked In conversation card

Local Connection for
a Global Certificate

Program participants come from over 40 countries, so while the program is global, connection is often created locally. Graduates gain access to their Local Alumni Slack Channel, designed to facilitate local connection for a global certificate.

student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar
student-avatar

Cross-Program Networking Events

Enrolling in a Wharton Online & Wall Street Prep Certificate Program is a unique opportunity to expand your professional network beyond your specific industry. Enrollees attend cross-program events attended by other Certificate Program learners and graduates in investment banking, private equity, real estate, financial planning and analysis (FP&A) and other career tracks.

For Employers: Level up your professional development

Hedge funds
  • Accelerate the new-hire training timeline.
  • Give freedom back to your senior analysts and portfolio managers by professionalizing your talent development.
  • Better compete for talent against large firms with extensive in-house training resources.
Long only, family offices, RIAs
and other investment organizations
  • Establish best practices in your investment research process.
  • Compete with larger firms by adopting best-in-class talent development.
  • Focus your executives’ time on their core functions while encouraging improvement in research capabilities.
Vendors
  • Better understand how your service/product fits into the fundamental research process.
  • Equip your sales force to recognize opportunities to add value across your client’s investment processes.
Speak With Us About Enrolling Your Team

Earn 65 CPE Credits with the Hedge Fund & Buy-Side Investing Certificate Program

Wall Street Prep and Wharton Online are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Ready to get started?

1

Get the brochure

To learn more about the course, provide your contact information in the form above. We will then send you our course brochure, where you can find additional details on the course modules, guest speakers and more.

2

Speak with an enrollment advisor

Still have questions about the program? Use the link below to book a call with an enrollment advisor who will help answer any questions you have about the certificate program.

3

Enroll to secure your spot in the program

Enrollment in the Wharton & Wall Street Prep Buy-Side Investing Certificate Program is on a first-come basis. Ready to enroll and secure your spot in the upcoming cohort? Click the link below.

FAQs

How often are programs offered?

Programs will be offered three times each year. Cohorts will begin in January, May, and September.

How much time will it take to complete this certificate?

The course is designed to run for eight weeks, with a recommended workload of 8-10 hours of lectures, live sessions, and assignments per week.

What languages will the program be offered in?

This program is offered in English only.

How do I register for this program?

You can register for the program at any time through our Enrollment Form.

How much does the program cost?

Program tuition is $4,800. Tuition can be paid in full or in 5 monthly payments.

Do you offer tuition assistance?

Tuition assistance will be available for every cohort. Use our Tuition Assistance form to apply.

What is the program refund policy?

This program is non-refundable.

Who can I contact for additional questions?

If you have any additional questions, please reach out to our enrollment team at enrollment@wharton.wallstreetprep.com.

Starts
May 13
Duration
8 Weeks
Tuition
$4,800 or $960/mo