Hedge Funds case studies, worked step by step

Cases
100
Traced to a firm
31
Topics
13
Hard
30
Topic
All topicsCredit, distressed and capital structure7Earnings, models and KPIs8Event-driven and merger arbitrage7Fund economics, NAV and LP decisions8Global macro trades7Long pitches and valuation14Manager evaluation and attribution7Pairs and relative value5Portfolio construction and sizing7Risk limits and drawdowns7Short selling6Systematic research and data11Volatility, options and convertibles6
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 71–80 of 100
  1. 071A pod holds three longs of 4% of NAV each, Kalinda Paints, Rasvi Tyres and Orbel Chemicals, all helped by falling crude, with pairwise correlation of 0.8 and 30% volatility each. How many independent bets is that really, and what is the combined risk?Portfolio construction and sizingCoreMulti-manager platformsLong-short equity funds
  2. 072You want to short Pravit Gaming at Rs 500. Borrow costs 12% a year. You think there is a 60% chance it falls to Rs 350 within a year and a 40% chance it rises to Rs 700. Is the short worth doing, and what borrow cost would make it work?Short sellingHardLong-short equity funds
  3. 073How would you make money from social media data on Fizzora Beverages? You have three years of daily brand mentions and sentiment, and quarterly sales. Design the signal, the test and the trade, and say how you would know it is not noise.Systematic research and dataCoreTwo SigmaNew York · 2024Two SigmaNew York · 2024
  4. 074Kalvora Cement has 20 mtpa of capacity at 70% utilisation, EBITDA of Rs 900 a tonne and an EV of Rs 9,000 crore. Management plans a 5 mtpa expansion costing Rs 6,000 crore. The stock looks cheap against replacement cost of Rs 1,200 crore per mtpa. Is it, and does the expansion create value?Long pitches and valuationHardLong-short equity fundsMulti-manager platforms
  5. 075You receive the Project Tamarind dataset of 30 anonymised columns and a target of next-day returns, to be tested on data you cannot see. Column 17 correlates 0.35 with the target in-sample. What do you suspect, how do you check it, and how do you build a model that survives the hidden test?Systematic research and dataHardPoint72new york · 2026Point72new york · 2026
  6. 076Brellin Textiles is restructuring with an enterprise value of Rs 900 crore, Rs 600 crore of secured debt and Rs 500 crore of unsecured bonds trading at 35. What does each class recover, which is the fulcrum, and what is the upside in the bonds?Credit, distressed and capital structureCoreCredit and distressed funds
  7. 077Build a three-line revenue model for Drovi Quick Commerce: 8 lakh orders a day, an average order value of Rs 450 and a take rate of 18%. What are annual GMV and net revenue, and which input moves revenue most for a 10% change?Earnings, models and KPIsWarm upBalyasny Asset ManagementNew York · 2026
  8. 078Samvara Telecom announces a rights issue of 1 new share for every 4 held at Rs 60, with the stock at Rs 100. What is the theoretical ex-rights price, what is each right worth, and what should a holder who does not want to invest do?Event-driven and merger arbitrageWarm upEvent-driven fundsMulti-manager platforms
  9. 079Kairav Capital, with AUM of Rs 60,000 crore, pays a fund administrator 3 basis points a year for middle-office work. Building it in-house would cost Rs 12 crore a year plus Rs 15 crore to set up. Using the data, write the recommendation: in-source or not, and at what AUM does the answer flip?Fund economics, NAV and LP decisionsWarm upD.E. ShawNew York · 2025
  10. 080Tanvik Beverages wants to enter a new state with 5 crore people, where per-capita soft drink spending is Rs 600 a year. It targets a 6% share in three years at a 20% EBITDA margin, with Rs 150 crore of set-up cost. Size the market, the revenue and the payback.Global macro tradesCoreBridgewater AssociatesStamford · 2026

Company names and figures are illustrative.