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tolerabletariff posted:Buyside recruiting process was such a grind. I didn't do it last year so it was a lot of "holy gently caress!" and then it was over. Who the gently caress is getting in to these invite-only "information sessions" at TPG, Carlyle, KKR, etc? Is it the kind of thing where if you're not in the right bank / right group there's no chance, or is it more about the quality of the sweet nothings you whisper to the recruiter? GoBuyside sucks. Got to the final round of a PE shop to get turned down (this is after 7 rounds of interviews). Just finished the final round at a long-only AM shop, supposed to know Monday (this was 3 interviews + one case study involving two allnighters). I also have a super day for a bulge-bracket research. Anyone have opinions on doing this after banking and then trying for hedge funds later? Or will 3-4 years of total sellside shut me out of the buyside?
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Apr 19, 2014 17:19
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I get legitimately pissed off when I get their e-mails. This is my favorite: Some idiot posted:Updated Interview list below as well as positions still open on the GoBuyside Job Board. We know there are quite a few final rounds this week, so good luck to all! Make sure to take the GAT Test if you have not already – 45 median and required for most positions at various stages of the process. Many clients using headhunters also cross-check candidates via GoBuyside so a killer profile (high GAT score / solid recommendation) can often be the differentiator to get you the offer in a final round. Yeah, right. Never been asked about the GAT ("GoBuyside Aptitude Test") and recruiters / PE shops will just call your staffer directly for a reference.
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Apr 19, 2014 20:28
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The Michael Lewis book is harshing my buzz. I haven't read it yet but I feel I've heard all the arguments against hft before, anyone read it? I find it quite rich that GS is condemning HFT rules as well I'd love to get a crack working on algorithmic trading myself it seems really interesting tbp fucked around with this message at 01:37 on Apr 20, 2014 |
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Apr 20, 2014 01:34
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tbp posted:The Michael Lewis book is harshing my buzz. I haven't read it yet but I feel I've heard all the arguments against hft before, anyone read it? Flash boys? I feel like hft no longer gives advantages since everyone has gotten good at it so the big margins are gone. Also ppl mistake market making for hft...
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Apr 20, 2014 01:41
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Oh also also trading is so doable if you have mediocre python knowledge and a small amount of $ you don't mind losing. It's a good intro.
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Apr 20, 2014 01:41
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Flash Boys is a great read but is really the story of the rest of the finance world getting caught off guard by HFT, not the story of HFT. I don't think a single person with HFT experience is quoted in the book aside from the Russian guy from GS who got pinched, and even references are limited to names of the biggest players out there (e.g., Citadel). Also, the book deals almost exclusively with a 1-3 HFT techniques. Algorithmic trading covers a helluva lot more than just that.
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Apr 20, 2014 05:07
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So I'm a CPA who just quit big4 tax to work at a boutique firm. I'm trying to get a head start on some fundamentals, anyone have any good books or websites I should check out? I'd like something that's technical enough to give me some real world valuation examples, maybe some excel models included so I can play around with them a bit before I start.
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Apr 20, 2014 18:17
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semicolonsrock posted:Oh also also trading is so doable if you have mediocre python knowledge and a small amount of $ you don't mind losing. It's a good intro. Yeah I looked at an intro last night I found online and I know a bit of java and have a good knowledge of XML . I might give it a shot with a bit of savings I have but idk what I'm allowed to do legally considering where I work at the moment lol I'm still not sure if I want to end my education where I am or get an MBA. I suppose I'm young enough where I don't have to worry about it yet and can always save the MBA in case I want a switch option but I landed in a spot I love working at a financial firm with just a political science and computer science degree lol networking ftw
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Apr 20, 2014 19:33
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E: ok so robinhood (the brokerage) is definitely making money off market making but masquerading as something else. Not too different from others I guess.
semicolonsrock fucked around with this message at 06:13 on Apr 21, 2014 |
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Apr 21, 2014 05:18
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tolerabletariff posted:Buyside recruiting process was such a grind. I didn't do it last year so it was a lot of "holy gently caress!" and then it was over. Who the gently caress is getting in to these invite-only "information sessions" at TPG, Carlyle, KKR, etc? Is it the kind of thing where if you're not in the right bank / right group there's no chance, or is it more about the quality of the sweet nothings you whisper to the recruiter? A combination of: i) your undergrad: either come from Wharton / Harvard / etc. or have a bunch of Michigan / Wisconsin / etc. alums with a foothold at the fund ii) firm: GS / Blackstone / MS / Moelis iii) group: M&A, Restructuring, TMT iv) nailing your "interviews" with recruiters v) having Analysts from your group go to a fund Recruiters don't give a poo poo about how much better a state school Analyst at Jefferies is than the worst GS Analyst from Wharton. They care about placing kids and getting their fat check. Also, hello finance goons.
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Apr 24, 2014 02:54
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Ravarek posted:I have a rather silly question: Not sure how your search is going but honestly its not that difficult. Do you have friends who are in banking who you hang out with and grab beers with? There's always a ton of jobs available off-cycle since turnover is always random or a firm / group under hired. Ask your buddies to keep a look out internally for positions that pop up and put in a good word. Being an Analyst sucks but its actually pretty fun to be around a bunch of kids your age. The buy side is a lonely, lonely place.
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Apr 24, 2014 02:57
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hellzno posted:A combination of: Blackstone IBD is a joke
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Apr 28, 2014 05:51
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tolerabletariff posted:Blackstone IBD is a joke Hey, I totally agree with you. That said, the analysts in that program have the right "pedigree" (  ) and get dibs at places like Pershing Square, Eton Park, etc.Not fair but what can you do.
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Apr 28, 2014 21:59
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I have the opportunity to transfer into a finance program at Northeastern, Wake Forest, Villanova and Miami(OH). Am I right for leaning towards Northeastern? My only criteria are what school will give me the best shot at breaking into ibanking and which gives me the best shot at a top tier MBA program. My grades are perfect I have 5 years military service including leadership in combat and a Purple Heart. I'm not sure that affects what school I should go to but I'm just putting it all out there. Any input is appreciated.
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May 2, 2014 15:19
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Time posted:I have the opportunity to transfer into a finance program at Northeastern, Wake Forest, Villanova and Miami(OH). Am I right for leaning towards Northeastern? My only criteria are what school will give me the best shot at breaking into ibanking and which gives me the best shot at a top tier MBA program. I went to NU and work for a HF but got lucky. In my year there were 2-3 kids who went to ibanking. Vast majority of finance majors at NU go into back office or middle office if they're lucky. Co-op experience is great but it's not directed towards ibanking and definitely not a target for it. The people who ended up getting IB jobs busted their rear end above and beyond in terms of networking and applying.
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May 2, 2014 16:29
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MODELLING EMERGENCY When calculating WACC for a vanilla C-corp, would you still tax-affect cost of debt if the tax shield is irrelevant? For tax-free entities (REITs, trusts, MLPs, etc.) you don't, but I'm not sure how to handle for a company with enough depreciation for functionally limitless NOL carryforwards. Interest obviously contributes but barely moves the needle. Bonus points if "Modelling Emergency" brought back memories of a time long gone by. Time posted:I have the opportunity to transfer into a finance program at Northeastern, Wake Forest, Villanova and Miami(OH). Am I right for leaning towards Northeastern? My only criteria are what school will give me the best shot at breaking into ibanking and which gives me the best shot at a top tier MBA program. To be honest, Northeastern isn't as well-regarded academically as the others you mentioned--if you're dead-set on banking it's probably not the best option. On the other hand, the co-op program seems to do well pretty much everywhere else in finance. I interned at a fairly large fund that drew pretty much every intern in every front, middle and back office function from NU. For what it's worth, CUNY-Baruch probably gives you the best odds per capita of getting a banking job. When I interned there were more kids from Baruch than the top 3 or 4 Ivies combined. Not an exaggeration. tolerabletariff fucked around with this message at 10:46 on May 8, 2014 |
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May 2, 2014 23:07
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Time posted:I have the opportunity to transfer into a finance program at Northeastern, Wake Forest, Villanova and Miami(OH). Am I right for leaning towards Northeastern? My only criteria are what school will give me the best shot at breaking into ibanking and which gives me the best shot at a top tier MBA program. Serious advice: skip all that poo poo and apply directly for an MBA if you can. 5-years of military service and a purple heart are awesome application points for HBS or GSB (Stanford). Opens a ton of doors including banking.
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May 3, 2014 22:54
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 gently caress YOU, I'M OUT https://www.youtube.com/watch?v=WlclUwqDo3s WHEN I SAY CARRIED YOU SAY INTEREST CARRIED INTEREST CARRIED INTEREST For all my niggas still out there, grindin' on them models, out there hustlin' for they MDs, just remember what the wise man said: You only do two days in banking. The day you go in, and the day you get out.
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May 8, 2014 10:44
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I get to go home to sleep!
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May 15, 2014 07:04
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Just got an offer to join equity research at a top BB. no more banking. Pretty stoked.
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May 16, 2014 17:24
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Someone should collect these posts for the op.
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May 17, 2014 19:34
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Junior in college just got offer a couple months ago to join BB (IBD) for the summer analyst position - having issues getting some docs to HR..most deadlines they give seem to be "soft"?
The Gnome fucked around with this message at 00:25 on Jun 1, 2016 |
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May 22, 2014 21:34
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HR is like the Eye of Sauron and you just made it look at you.
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May 23, 2014 05:57
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crazypeltast52 posted:HR is like the Eye of Sauron and you just made it look at you. Yes, avoid this. But no it shouldn't reduce your FT offer chances. HR doesn't weigh in that I've seen, it's entirely up to your group. Unless your school's recruiting team has swinging dicks big enough (Group Head+) that you get an offer regardless of neutral / negative feedback, I've seen this more than once. HR processes paperwork and that's about it.
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May 23, 2014 07:09
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tolerabletariff posted:Yes, avoid this. Thanks. Are you heading to PE after your IB stint?
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May 25, 2014 09:44
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The Gnome posted:Junior in college just got offer a couple months ago to join BB (IBD) for the summer analyst position - problem is, I've got some HR documents in late (past the "deadline") - will this affect FT offer chances at all? Thanks guys Always a small change the HR guys will ignore it. What you don't want to happen is for HR to do screen 1 and pass on applications to the interviewers. HR will likely take a risk minimisation strategy of passing along a good CV. Even if it is late - if it is good it will get read and recommended for interview. Where you get screwed is if it is a marginal yes but all interview slots have already been scheduled. That's a bummer.
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May 26, 2014 10:25
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tbp posted:The Michael Lewis book is harshing my buzz. I haven't read it yet but I feel I've heard all the arguments against hft before, anyone read it? Unfortunately I hear it is mis-informed nonsense. Try this instead - actual data: http://www.cmcrc.com/index.php/home/article/89/does-hft-exacerbate-end-of-day-eod-price-dislocation (with the added plus that it makes the HFT guys and big banks look good): quote:We show that the presence of high frequency trading (HFT) has significantly mitigated the frequency and severity of end-of-day price dislocation, counter to recent concerns expressed in the media. Oh and just in case you think wtf are these Aussies and what would they know. Well they wrote the capital markets surveillance system that was acquired by NASDAQ-OMX and sold on to 43 of the world's largest exchanges.
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May 26, 2014 10:31
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Hypation posted:Always a small change the HR guys will ignore it. I already got offer for the summer position.
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May 26, 2014 21:46
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Do we have the change our Snapchat prices to Beats prices now?
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May 30, 2014 23:41
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crazypeltast52 posted:Do we have the change our Snapchat prices to Beats prices now? Personally I'm going to start a vc w the thesis that more offensive undergrad emails = higher valuation. I feel like beats is more of a typical luxury goods case?
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May 31, 2014 22:33
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From the sound of it, beats has a music streaming service that Apple wants? I didn't realize that before, but maybe there's something to them beyond fancy headphones. Do you know offhand who owns Vertu, those preposterously expensive phones?
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Jun 1, 2014 17:01
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one week of unemployment before starting ER. Words can't describe the liberating feeling
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Jun 1, 2014 19:29
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Any prospect of getting looked at by PE coming from two years experience in an accounting-type position? Not big 4. Lots of experience working with different companies during mergers/acquisitions but that's about as close as I come to PE-type stuff. I imagine it would take lots of networking to even get an interview, and then I wouldn't even be considered because of comparatively irrelevant work experience. A boutique, where I can actually convince a decision maker one on one would be a better bet?
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Jun 5, 2014 22:25
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What do people like for review of financial modeling + valuation techniques? I've always used Damodaran's stuff to learn it, but wouldn't mind a more succinct summary.
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Jul 8, 2014 06:08
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How many Snapchats is a Family Dollar?
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Aug 18, 2014 15:54
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Threeve
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Aug 21, 2014 06:28
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semicolonsrock posted:What do people like for review of financial modeling + valuation techniques? I've always used Damodaran's stuff to learn it, but wouldn't mind a more succinct summary. The Investment Banking book by Rosenbaum is good for M&A and LBO modeling
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Aug 23, 2014 01:10
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I'm speaking with someone in IB but I know nothing about your field beyond movies and stats classes. Do any goons have opinions on https://www.investfeed.com or https://www.thinkingalpha.com ?
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Aug 25, 2014 20:07
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yo series 79 sucks
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Aug 25, 2014 22:36
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chupacabraTERROR posted:yo series 79 sucks Banking is worse
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Aug 26, 2014 02:31
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