Taylor Skuta is an HBA1 student at Ivey. She spent her first two years of university in Western University’s Bachelor of Management and Organizational Studies (BMOS) program, specializing in accounting. She is from Cambridge, Ontario and played competitive hockey growing up.
On the morning of Monday, June 6, 2022, as I stood aback from the yellow platform lines at Guelph’s GO station, a sudden wave of emotions confirmed that the countdown was finally over. I was about to begin my first internship at Polar Asset Management Partners Inc., a multi-strategy alternative asset manager with a distinct concentration on arbitrage-orientated strategies. Following four weeks of in-class learning, and a final capstone activity, my 10-week internship marked the last component of Ivey’s Women in Asset Management (WAM) Program. As the train entered the station and I boarded for my two-hour commute, I was filled with excitement, optimism, and a natural curiosity to learn more about the industry.
Abundance of opportunity
During my first two weeks in the office, I had the opportunity to speak one-on-one with associates and portfolio managers across the firm. My goal was to establish a fundamental, high-level understanding of each desk, one that could be built upon as I progressed through my internship. Through these introductory meetings, my once surface-level understanding of buy- side strategies was broadened, and I realized the abundance of opportunity in the field. For example, George Radan, a portfolio manager at Polar, introduced me to power and natural gas trading in North America, while another portfolio manager, Grant Dawson, taught me about the complexity of the credit space. In school, the emphasis is more often placed on equity trading and research. Although these items continue to play a significant role in most strategies, it is through Polar’s diverse approach to portfolio construction that I was able to explore methods outside the traditional scope of learning.
Textbook doesn't always equal real life
In parallel to my first takeaway, I found it important to note that the “rules” we study in textbooks are not always concrete in real life. While the ultimate goal of a firm may be the same for everyone, each individual may have a different process or “set of rules” to achieve said goal. I quickly learned that as people gain experience, identify their individual strengths, and launch a full-time career within a specific strategy, their unique process will slowly develop and flourish. So, when challenged to come up with an idea, or conduct a company valuation, not one person’s process will be identical to another’s, thereby emphasizing a degree of contradiction between real life and step-by-step textbooks. From a student’s perspective, this highlights the importance of establishing a strong, fundamental understanding of a given space, such that you can build a process for yourself moving forward.
Confidence is key
The word confidence is quite ambiguous, and can be synonymous to words like ego, certainty, poise, or boldness. While having too much or too little confidence can each be detrimental in different ways, finding balance is key to navigating new roles and building a supportive network. As I entered both an environment and position that was entirely new to me, I learned that having the confidence to seize every moment, and step outside your comfort zone is important to personal growth. For me, having the confidence to ask questions or for help or clarification, and to approach new people and spark conversation allowed me to better navigate my role, build relationships with colleagues, and dive deeper into the operations of a hedge fund.
All good things must come to an end
It is after 10 amazing weeks, and a whole lot of train rides, that I can confidently say I have learned equally as much about the industry and markets as I have about myself and life. This experience expands far beyond the technical components of finance, challenging me to step outside of my comfort zone, dive into deeper waters, and resurface with a more comprehensive understanding of the field.
I would like to give a very special thank you to Scott Brady, Head of Trading; Julia Whitfield, Head of Talent; and the rest of Polar’s team for this once-in-a-lifetime experience. I have truly enjoyed my time working with you all and look forward to connecting again soon.
Last but not least, I would like to sincerely thank the WAM program coordinator and directors, Rachel Jackson, Steve Foerster, and Saurin Patel. This experience would not have been possible without your incredible dedication and continuous support.
