SIG — Equity Analyst

Role

Equity Analyst at SIG (Susquehanna International Group), Jun - Aug 2026, Dublin.

This was the internship I applied for every summer. It became the steepest learning curve I have had and the clearest lesson in rigorous thinking under uncertainty.

Research under uncertainty

The central habit I built was to stop treating an investment view as a single prediction. For events such as earnings, M&A, and macro releases, I mapped plausible outcomes, estimated their likelihoods, and thought about directional moves and volatility as distributions.

I combined fundamental research, catalyst analysis, and valuation with scenario and sensitivity analysis. Changing assumptions one at a time made it clear which inputs drove a thesis, how the expected outcome moved, and where the view could break. Probability-weighted expected-value analysis gave me a disciplined way to compare opportunities instead of relying on a single point forecast.

Projects and pitches

I worked through projects across European equities, turning open-ended questions into structured research. That meant investigating catalysts, building analyses, forming a view, and presenting long and short pitches. As new information arrived, I updated both the probabilities and the conclusion rather than defending the original answer.

Some desk-specific details remain private, but the transferable lesson is straightforward: state the assumptions, quantify the uncertainty, test the sensitivities, and change your mind when the evidence changes.

Markets training

The internship also included intensive training in options, derivatives, volatility, ETFs, arbitrage, and market making. I applied those concepts in two-sided quoting and risk-management simulations.

It was the hardest I have worked and the highest bar for precision I have encountered. More than any individual model, I left with a better way to reason about uncertainty.