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900 | Vote | Our interests are aligned with yours. So what’s important to you is important to us, too. | https://alb.reddit.com/cr?za=bNruOnri9e2M5vP0ejAShxAraXQ-UhE1aylv7dEnwh-hPTs2Mo2wx1RTVNi0qU-a-fGS79cr09nKWoM9UQyNhcr1YudukSpF9efo3slv4oa67HuXIYl2FDEtIXIU7ZsoIcSxsztKp1NiRj_Bx3xsMtq778qPOqyfLGFkaAkuGk548HRs0CtMSAq33XyDOp8cbzpf_tC71ZUFhPszf-ZUj0rFD01vC-Szt2LBk0_Dw_DPmHzJKcY9SXHjPAjIMGrtEdFtw5IXIx6SomSFyKAMJHTji_g_fpwCij4mU26HlRTLPZvqk5872jg1xxvig4nnnF3IY6EeRkuSddL-8joRd_c-bA4yEvKHdBAl1_rVmbhjnfUGzD_CJ9rFRXeQoTFU5UE&zp=PVpIsMv4_PhLPV5w51DkSf8tBOPU5FnQWKpn88sjtNyw1PjaK937HkBiG2-g6tIvEANrp6jhQgVuNvSu9lgVuMmFCoVDel9l1yFGm8VKH5OUCrtbF03ytfoQ7s6u2SQP8JpYzdw8a-QkLcPI8pboiL8jZsjWOWts9-DASWjR3aFVaZAIDDnBJxhKtKxsPF-gY0Ij_2ih7ka5ayohXLrniQVMnI5I1BrmyGAH6K98s8kfwkqlL19Lh8ZcrlWY9GjG3LFo6qQGOyNOh-iJXkS9lhCFiLd1NtLIaRXBFy6wgRI-iZsaPVg5DI0FHnqXxkQB5kF4XTaZxjV_bxV3NOlz_9vSxQoEd0CsBwQnIhHnpL5VaD-m2KcCS9vGa4aAaTq-fcwjfI5xOvDO | 0 comments | null | null | 2023-07-27 |
901 | 13 | Anyone here in real estate finance? | null | 13 comments | 2015-07-27 | Could someone in real estate finance (finance specifically related to real estate, so not REPE but more like REIT & "commercial real estate finance") explain how the job is and what it's like in the world of real estate from a financial standpoint? | 2023-07-27 |
902 | 12 | How difficult is the Series 52? | null | 8 comments | 2015-07-27 | My firm told me they want me to trade munis. I have zero background in municipals and just started in the debt market ~1 year ago. I was given a 'textbook' to study from and my firm is pressuring me to take it as soon as possible.I am trying to be ready to take it by Memorial Day weekend (month and a half). From what I have been told, the test is pretty easy. Will I have enough time to be ready for it? | 2023-07-27 |
903 | 23 | Considering Master of Finance - What careers are available? | null | 20 comments | 2015-07-27 | Longtime lurker, first time poster; hello reddit!I am considering pursuing a masters of finance, and I am hoping for some advice on what careers to keep in mind. I have spent some time contemplating what is available, but have yet to find that ideal position.Quick background: I have a BA in mathematics and others would likely describe me as hard working, intuitive, technical, and outgoing, but not charismatic. My first priority would be to my family, so I am not looking for a career that would consistently demand traveling or more than 40-45 hours a week. I enjoy coding and have found myself losing entire days while lost in trying to perfect a specific project (I have taught myself python, vba, r, and stata - I have dabbled in matlab, but by no means am proficient). However, I love interacting with people and do not wish to be behind a screen 8 hours a day.I have a strong background in finance ranging from old academic theory to recent asset pricing techniques. I would really like to be able to use my current knowledge (combined with what I would gain from a masters program) and implement it in my career.Thank you! | 2023-07-27 |
904 | 108 | What is the best book to learn financial analysis and modeling on excel? | null | 63 comments | 2015-07-27 | null | 2023-07-27 |
905 | 11 | Interviewing for an analyst position in structured prodcuts/derivatives division at major bank, need all the info I can get! | null | 9 comments | 2015-07-27 | Hey guys,I'm a recent finance graduate and this is the first shot at an interview I've had so far (never was able to do any internships or interview for other positions). I was contacted regarding an off-cycle 6 month internship, I spoke to an ED on the phone last night that asked me basic personality questions and questions about my degree and background. I just don't have a very clear idea what a structured products/derivatives division does at all (that's how he described the team). I have experience in derivative pricing from my bachelors (futures/forwards, options, black scholes, greek letters etc...) I'm just very nervous since It's my first shot and this is a prestigious firm. I'm revising the material I know like crazy. Does anyone have any pointers/tips/anecdotes/material that could help me out?! I really really don't want to blow this it's a great opportunity. Thanks!UPDATE: My interview was yesterday! It was in a foreign language I speak but don't quite master so I can't know for sure how well it went but in my opinion it didn't go too badly. The guy interviewing me was a 3rd year analyst; He asked me to talk him through a Delta hedging strategy and what steps I would take given different variations in the price of the underlying asset of a long position in a call option. He also asked me how Calls and Puts react to different changes in Volatility, Time to maturity and Dividend issuance on a stock and also to evaluate why these changes take place from a logical standpoint. I hope this helps anyone in the future! | 2023-07-27 |
906 | 10 | Reading the Fine Print in the Heinz-Kraft Deal | http://www.nytimes.com/2015/03/27/business/dealbook/reading-the-fine-print-in-the-heinz-kraft-deal.html?ref=dealbook | 0 comments | 2015-07-27 | null | 2023-07-27 |
907 | 9 | The Mergers and Acquisitions Cycle: Buy. Divide. Conquer. | http://dealbook.nytimes.com/2014/12/10/the-mergers-and-acquisitions-cycle-buy-divide-conquer/ | 0 comments | 2015-07-27 | null | 2023-07-27 |
908 | 40 | Why do you guys choose finance? | null | 81 comments | 2015-07-27 | A lot of people choose finance because it's lucrative and financially rewarding. Do you guys have any other aspirations other than making the big bucks? What are people's life goals for going into finance? | 2023-07-27 |
909 | Vote | I got 132 IQ on the international IQ test. It's probably the most accurate online test. How high is your IQ? | https://alb.reddit.com/cr?za=QM-Q2jNUSebdRdlyQ4LaY4NlEmGPp9bTgdlvDFdhOvuiMDTtj3tbKS3ehLqygPxfw4fCiHfg3bCseD9RaA9tcVS0pES9P3r21u1LSG5vAxYJX-0o9ysdIIP_AFcF5S3RImv9hSHT4hOCxBPYe_TtogaNRwLPWDaY9bJ0Y8SlOXP_YhYJds-JeUFd-xXIw9N3SYvlWksATa2PyaFngvI1F_rHaU3z26PZDTw2PPzsLyK_G_uMEHv_tpbt2QQ8CDyHUR5dQgCU9JXsgvlyCjI5wUg86Px6dRU2L0graVV5-JK3Ou-8Di81bY1FPMoGx0vWBdnTxN6-bAW_pgUVonTMNf3V0yXU0xBsXlB7BEedeEkMJxo3Nv6oUJSuOOaI2GT4n3q8nwWWUA&zp=ZrAUMNE5Nv-V6zq03Lw0y44GIe_EqAElOfI1rxR6KBlxLs1_YEi3yDUh6bFuKZoZ2V71zXNKaTm0Bba45owgmsXsPZqIp6yJuk8KcCj7rYGR4AJm4VTO31mznNX93hnIT220W_mqJf4Kxoo4cc7tErQBh7XRdnoYlYgRDVTyImOsUd4vzA99y2A | 0 comments | null | null | 2023-07-27 |
910 | 15 | Despite the long hours of work, is the routine of working in a I-Bank any good? | null | 26 comments | 2015-07-27 | In one part you have to work long hours (and get paid relatively well), with a very competitive environment and if you do something wrong, it's a risk for you career.However, what about the routine? Is it any good? Do you like it? Or is it boring?I'm talking about being part of a M&A team, or Equity Sales/Trading/Research, etc.. Any part of it, actually. | 2023-07-27 |
911 | 9 | Seeking an entry-level finance job. What basic skills must I have? | null | 37 comments | 2015-07-27 | Hello, I am a third year university student studying political science but looking to enter a career in finance. I have been running a general investment partnership between myself and some peers so have some financial background, but am looking for the "must have" basic skills of finance.Having not been able to take basic finance classes I have no idea where to start.Any suggestions on what to learn, how to learn it, and where to start would be greatly, greatly appreciated.For context: I am currently looking at becoming a financial advisor after graduation and working towards a junior financial analyst position. Other suggestions are appreciated!EDIT 1: The financial advisor is a short term goal. The analyst position is a long term, potential goal. I'm looking for basic, finance fundamentals applicable to either or both. | 2023-07-27 |
912 | 31 | Is Black-Scholes still the primary option pricing model used in practice or are other models more prevalent now? | null | 21 comments | 2015-07-27 | I've been trying to wrap my head around how options pricing works under non-normal return distributions and it's been pretty difficult to find any resources regarding this. I know pretty much no one in the market today assumes normally distributed returns when pricing options and I'm aware of the volatility surface/smile phenomenon. But it's not clear to me whether this phenomenon is the result of people using Black-Scholes and essentially just plugging in higher IVs at lower strikes according to some formula, or if people are just using completely different models now, which just happen to appear as a volatility smile when viewed through the lens of Black-Scholes. Is there an accepted standard here?I guess what I'm looking for is someone to point me in the direction of some resources that either (a) expand on alternative models to Black-Scholes that don't assume normal returns (preferably models that are actually used in practice) or (b) explain how Black-Scholes is actually used in the real world without assuming the distribution of returns on the underlying is normal.And in a similar vein, I would be really appreciative of any resources/research/papers exploring distributions that more accurately describe market returns compared to the normal distribution. | 2023-07-27 |
913 | 65 | What's the worst instance of financial illiteracy you've seen on Reddit? | null | 144 comments | 2015-07-27 | Years ago I saw a comment, I think in r/news, about income inequality. The commenter complained that banks gave "a guaranteed 10% return" and special tips on penny stocks to their rich customers, which is why the rich keep getting richer and the entire system is corrupt and unfair.Can you top that? | 2023-07-27 |
914 | 36 | Have you heard any Lazard horror stories? | null | 16 comments | 2015-07-27 | I recently had coffee with one of my former summer interns, who (after a stint with us) spent some time at Lazard last year. He mentioned that out of his intake, less than half stayed more than a year (I'm assuming this was on the standard two year contract, but I'm happy to be corrected). According to him, the hours were brutal, even for Wall Street. 9am-3am, not just a few weeks a year, but for months, no Saturdays off (which has I believe been adopted unilaterally across the bulge bracket) and some particularly incompetent management.Now, normally I would write this off as a bad group somewhere- after all, we've all heard similar nightmare stories at some point. But it struck me because this is the third or fourth time I've heard this about Lazard, across multiple groups in very different regions. A team I used to work for hired a Director who had worked for them. As a VP at Lazard, he'd been working Analyst hours, day in, day out. An MD who I had known at the start of my career (but never actually worked for) moved across to Lazard when the [major British] bank he'd worked for downsized significantly. This was a guy who was (and remains) extraordinarily talented, the rare chap who actually loves finance and did the job purely for his own enjoyment and satisfaction. He'd moved to Paris for the final years of his career. He was out within a year- said that management was the worst he'd ever seen in 35+ years of working in the industry. He showed me a letter he'd written to several members of the board detailing his concerns (after he had left). Apparently he never got an answer.Now, all of these (and others I shan't bore you with) are anecdotal of course, but I was wondering if you had heard anything similar. | 2023-07-27 |
915 | 633 | A guide to Excel for Finance | null | 111 comments | 2015-07-27 | Hey r/finance. If you've been here a while, I'm sure you've seen someone ask a variation of "I've got an interview at XXXX tomorrow, what should I know in Excel or something along those lines. There are a few threads (like this one and this one which have a bunch of great tips but as far as I know there is no one post, so this is my attempt to create one.IntroductionIf you are a complete beginner, I recommend downloading this spreadsheet to familiarize yourself with the basic functions.General Tips: (many of these are from /u/kentaloupe, thank you)Do not use the mouse. Unplug it, and learn all the shortcuts. It will make your life so much easier in the long run. Here are finance specific shortcuts for Excel 2013, 2010, and 2007. (PDF files) Print one off, and use it until you don't need it anymore. I can't stress this point enough. Seriously unplug your mouse and learn how to properly use the program.Have a mac? Good for you, so do I. It's awesome at almost everything, including running windows. So go get a copy of windows, and run excel on that. Excel for mac is not good for finance.Avoid hardcoding values. It makes your work messy and difficult to audit and edit. If you have to hardcode, make the text blue.On the subject of text colors, green is for references to other sheets and black is for formulas. After that, it varies from place to place, but these are standard.Comment on your work. It’ll make it make a ton more sense to everyone who uses your file. (Note: some people like to comment using SHIFT-F2 while others prefer comments in the margins. It depends on where you work/who you work for)Name your cells and ranges. It’ll help you out a ton in the long run. (Note: you don’t need to name every cell or range, but it’s very helpful to name cells that hold a hardcoded variable such as a tax rate)Many analysts will remove or disable the caps lock and F1 keys. A paperclip under the key does the same thing, and doesn’t look as ugly as tearing them out. There are a bunch of programs to disable keyboard keys available, I use this one. You can also disable the F1 key with a VBA macro, which can be found here thanks to /u/tally_in_da_house.Check you file with print preview before delivering it to make sure it looks okay. Setting the print area also works but it will slow down larger files.On the subject of looking pretty, learn conditional formatting then remember to only use it for final copies/deliverables. It makes files unbearably slow if you have a lot of data.ShortcutsSeriously, even if you’re an expert, take a look at the shortcuts on these sheets here, you might find something new. (sheets for Excel 2013, 2010, and 2007.)ALT: hitting alt will label everything in the ribbon with a letter, which you can hit to do that shortcut. For example:ALT-E-S: This opens up the advanced paste window. Look at all the options and hit the underlined letter to select whichever one you want. Eg. ALT-E-S-T-Enter is paste format, ALT-E-S-V-Enter is paste values.F2 and esc to quickly audit cells. (thanks again /u/kentaloupe)Ctrl-Shift-[: Follows where a formula links to. (Brings you to the referenced cell, great for auditing) Thanks /u/publicfinanceF4: switch between absolute and relative cell referencesCtrl+PgUp/PgDn: Switch tabs (credit to /u/throw-it-out for this and the next 8)Alt+PgUp/PgDn: Page Left/RightAlt+O,D,A: Conditional formattingAlt+O,C,A: Fit column width to contentsCtrl+~: Show formulas in cells instead of valuesCtrl+1: Show format cell dialogCtrl+; : Enter current date in cellCtrl+: - Enter current time in cellCtrl+Shift+ +: Insert Row/Column/Cell(s) (Not working? See this comment by /u/Levils)Alt+Shift+F1: Insert new worksheetKey Formulasindex/match: like vlookup and hlookup but more powerful, and anecdotally quicker. Learn vlookup first and then learn index/match and never switch back.sum/offset: find totals for dynamic ranges of data. Good for calculations based on a changing range of dataand/or: can be used in conjunction with other formulas, lets you have multiple requirements or optional requirements in your formulas.sumif, sumifs, countif, countifs: all either add or count a row based on one or more conditions. These are pretty easy to learn.sumproduct: Exactly like it sounds, gives you the sum of the product of 2 rows/columns. [Sumproduct can also be used as enhanced version of SUMIF/SUMIFS, etc., since the way those functions handle booleans is atrocious. E.g. =SUMPRODUCT(--(A:A>0), --NOT(ISBLANK(B:B)), C:C)] (thanks /u/tf113)address and indirect: I hate these, you can google them. They’re very useful and very volatile. Often seen with index/match and can often be replaced by an index/index/match. (Thanks /u/tjen)There are a ton of other great formulas out there, these are just some of the most commonly used ones in finance. If I’m missing anything, PM me or leave a comment and I’ll add it in.OtherAdd-ins: Not really an add-in, but turn on the developer tab right away. It gives you access to VBA which is incredibly powerful. While you’re there, turn on “Solver” as well, you’ll thank me later.As far as finance specific add-ins, I use Macabacus (the free version) which has a bunch of functions I use all the time. The paid version is good too, and if you need the functionality, it’s 100% worth it. The site also has DCF, LBO, M&A and Cap table models which are pretty good to learn from. I don’t like the format, but they’re well build and designed.VBA: VBA deserves it's own separate post, so I won't cover it here. "Power Programming with Excel VBA" comes recommended by /u/tf113 for those who want to take your skills to the next level.Pivot Tables: These didn’t really fit anywhere else, so I put them here. They are one of the most powerful and underused features in excel. They can be used to summarize almost any data. My associate taught me how to create financial statements from GL data using pivot tables which is incredible for doing valuation work as it lets you see a breakdown of every transaction that affects whichever account you use. (This makes normalizing EBITDA/EBIT a ton easier, and this is just one case.) (Guide for this process can be found here)Templates: This is a great resource with a bunch of finance specific templates. Macabacus also has a few free templates which I mentioned before.This is a work in progress, so feedback and comments are appreciated! I’d love to make this a community resource that we could direct people to to get started with excel for finance.EDIT: A lot of the comments below have been added into the main post, thanks to everyone for contributing! If I missed your comment, shoot me a PM and I'll check it out.Thanks for the sticky mods! And second highest post of all time on r/finance! | 2023-07-27 |
916 | 9 | Certifications... | null | 15 comments | 2015-07-27 | I know this has been asked numerous times, we should make a sticky with certifications/skills that will be useful to finance and list them based on ease of achievement. (i.e. CFA difficult; Bloomberg Certification easier)I know many of us will be starting the online VBA class as well.Personally I'm trying to lateral into an investment banking position at my current firm after a year within their analyst program and want to make myself as "desirable" as possible with certifications that are prevalent.My ideas so far:CFA Level I December Argus DCF Class in Many Excel VBA class online Bloomberg Certification (Obtained) MorningStar and Capital IQ (Pending) SAS SQLThank you! | 2023-07-27 |
917 | 15 | What are the effects of China creating a bank (AIIB - Asian Infrastructure Investment Bank)? | null | 25 comments | 2015-07-27 | What are the effects of China creating the AIIB - Asian Infrastructure Investment Bank? It seems like the US does not want other countries to join and I was wondering why this is the case. | 2023-07-27 |
918 | 200 | Ready to ditch the fax machine and embrace the future of faxing? With eFax, you can send and receive faxes right from your computer, or smartphone. | https://alb.reddit.com/cr?za=A0FrKFWY6MWN0iW0qCykcCQjJtpg24mW-p6f7Q8Grq_bMBCeKkQyNagE5DwfhvMSY95NUM4mzzxfmz40O4Lhco8q0e6C0J_Vqu2yJnL3vNrlvm2tOuyqEY91AlpNNjaszBE7bH3tH5Km1Bx5tcHtUpp36eLrq9IMI4zQmJ9j2P3bqbTWJ-GtiSwaCE2_102s_kx7r00-pvOk0y8FLk9h4sDoEXO0jz3CUn3S0-NpOm-5k4hqIVXpMp3RwvxlkO4jkvKIv1-85oMQuZDOvDuE4DwfhY33Y2xrAfvm0ShWvQd1OBa5mPunGBbDY4qFOI2TFFyUsyKlmXDlpLHrg7-zMU32zRp-PzjSIFLjKElikCMUbxArEsGaP5mmVAcVob7AYGcVs9Xff94&zp=5yTjmUbapwaMiH0Gf6V5AFDLzSN9Q8BMa_Rti1ZfDpM9RdXw3wil8UzthMgOk006L_60dWOlOje8ykWmkuKNx5o9iNynkrWF1TWxD6hiYoZ3ZU5BM6mTkrMiq5dtzA0woJ4yV9oK59DbPcFoBRPcPRXpwk8wv1wRAoj3F0wUiYlO41W51pqgmgF5Rt3C-oF4jW-hMMJRvz0KAIQRyN3egAUhqRIRT3m6SYdbgtLfoyAupylOnu7_SQxL9A | 0 | null | null | 2023-07-27 |
919 | 62 | Movies on Finance? | null | 56 | 2015-07-27 | What movies on Finance would you guys suggest? Anything to do with Finance is fine. Thanks! | 2023-07-27 |
920 | 154 | Reminder: Free 10-week "Introduction to Excel VBA Programming" course starts soon | null | 46 | 2015-07-27 | Hi everyone. I am a faculty member in the Mechanical Engineering Department at California State Polytechnic University, Pomona (Cal Poly Pomona). About a month ago I created a thread in this subreddit promoting a free 10-week online course in Excel VBA that I will be teaching during March 30 - June 6. In the course you will learn the fundamentals of VBA programming including Sub and Function procedures, If and Select structures, For and Do loops, UserForms, and arrays. Participants who complete the course with a passing grade will receive a certificate of completion and online badge from Cal Poly Pomona. Here is a [link to the old thread] (http://www.reddit.com/r/finance/comments/2urvd4/free_10week_online_course_in_excel_vba_from_cal/).
The course is about to go live and I am reaching out to the reddit community one more time in case anyone missed the first announcement. Thus far, ~3000 people have enrolled and there is still plenty of room for more participants. If you are interested in learning how to program in Excel VBA, you can sign up for Introduction to Excel VBA Programming by clicking the following link: Click here to enroll (Note: The "Enroll" button may state "Unenroll" due to a bug in the platform. If that is the case, click the "Unenroll" button to register for the class.) I'll be happy to answer any questions you may have.
Paul Nissenson
Assistant Professor, Department of Mechanical Engineering
California State Polytechnic University, Pomona
PS. And yes, I checked with mods to make sure this reposting would not be bad reddiquette. :) | 2023-07-27 |
921 | 4 | Dream Job or Dream Grad School | null | 30 | 2015-07-27 | Hello Everyone!
I don't know if anyone will read this but might as well give it a shot. I have already accepted a dream opportunity for me. I would be working in the Asset Management/Private Banking group at a renowned BB. My long term goal is to start my own investment management firm or work on the buy side. However, I just got accepted into the Masters in Finance program at MIT. Both are extremely good opportunities, but I don't know which path will help me end up to my main goal.
Does anyone have any advice, or were in a similar situation? | 2023-07-27 |
922 | 5 | How is working at a rating agency like? | null | 5 | 2015-07-27 | We find many questions about doing finance at IBs, big fours or forbes 100, but how about rating agencies? what's your opinion on doing a career in a rating agency, say moody's? the pay? the working environment? challenging tasks? any experience or anecdote to share? | 2023-07-27 |
923 | 52 | Whats the most comprehensive finance textbook for someone with no background in finance? | null | 33 | 2015-07-27 | . | 2023-07-27 |
924 | 0 | TVIX sucks.. What is a better 2x or 3x VIX ETF? | null | 10 | 2015-07-27 | I've invested in TVIX off and on (and managed to make some money) but days like today are really pissing me off. VIX is up 11% and TVIX is up 4.7% when its prospectus is '2x VIX index'. Are there any funds that trade a lot closer to a true 2x VIX? | 2023-07-27 |
925 | 26 | Q: How is electronic money coded and tracked, if it is tracked? | null | 19 | 2015-07-27 | We all know that physical bills are printed serially with corresponding numbers. And most of us (general public - you people certainly do) know that the vast majority of money exists electronically nowadays.
So: how are electronic deposits and transfers tracked? Theoretically, one could serially number serially issued electronic units, right? Do we? If not, wouldn't this cut down on laundering and make the financial system more transparent? How, in fact, is electronic money encoded? And why have we settled on the present system as opposed to potential alternatives?
Any banking software guys, or bankers in the know, in da house? | 2023-07-27 |
926 | 7 | Can anyone suggest a book on the Federal Reserve? | null | 20 | 2015-07-27 | I'd like to read a book on the Federal Reserve to gain a better understanding of how it functions and its history. So far nothing I have seen has appealed to me. Does anyone have a book they really like? | 2023-07-27 |
927 | 2 | Anyone here work for Vanguard? (x-post /r/personalfinance) | null | 7 comments | 2015-07-27 | Some folks suggested I try this Sub. Please forgive me if this is against the subreddit's rules.More specifically, does anyone here work at Vanguard's location in Charlotte, NC? If so, I would love to hear your feedback about working with them. Can you offer any insights on their culture or employee development? What is the considered the 'entry level' position? | 2023-07-27 |
928 | Vote | Verliebt, verkatert, hyped oder entspannt. Das Radio SRF Virus ist live mit dir, für alle deine Moods. Mit unseren fünf Hosts mit fünfmal mehr Charakter. Jetzt reinhören und mitreden. | https://alb.reddit.com/cr?za=bO_QJiVy7PeJpSbVt_tZMO3aB_JF2anuXpTboPrXhu60CFI1ldsLXvX2AzEMSz15U6KuRJbncFBJQt-CsslVYd-qzWXYmo9pwfUspN2w505tfAwIQB2dQA_BXKpvDlvYujePy8G3KQuXZkRviarZoqnW6upTYEKizxIkDYrbwvscjzvukHLG69I36no4c1FYLdiSRLPQnEsFzIysOLwN1Qy9UqZpCb7Mq4G6Bkjhn-94VeANUV96Qd-MjRB2LKcbBUKT5IwdjeACIIcs5t_An_9pqkSH5WsHHYpoXMZvhIxZwHlpszaEDWh0MHnOWjDC8mpxn8aKNC8bUWIHXTy7cxmzHO2bSgPsANAooGHDAowuA73xuknFNjMYVk42oYR_Ag&zp=M3Zdo30nMXT2ur6DmaXeAWovrg37hm0lVQSN3UwnxMPSDJ5tAK0Dzab-ZIoicigeZSG4iP5-Ym5iJ-h_MA5AcszgY_TrcaIQO6OTXejzbOHouekjTBuKEsWUvJP1T1faCYYEkHGAYks0_wcYOsu7oa2sWNPObFdpwainPBd0jVD4OWshOpSCPo6KUxyShMC8Jj1UaO244QHjXCxe2RsDZP7_cVTG_55g6kEICYF4yNwtbdOqTw6JZ84moCj4ojKGCezKKd6INQ | 0 comments | null | null | 2023-07-27 |
929 | 74 | Warren Buffett Rails Against Investment Bankers: "The Street’s denizens are always ready to suspend disbelief when dubious maneuvers are used to manufacture rising per-share earnings, particularly if these acrobatics produce mergers that generate huge fees." | http://www.nytimes.com/2015/03/01/business/dealbook/warren-buffett-rails-against-investment-bankers.html | 62 comments | 2015-07-27 | null | 2023-07-27 |
930 | 102 | Is there a site that is the opposite of Zero Hedge? | null | 108 comments | 2015-07-27 | Back in 2009 or so, I found Zero Hedge and it seemed like a well-reasoned, thoughtful, informative blog, with a number of clearly articulated reasons why the Fed's actions were unsustainable, would fail, etc. Now, many years later, I see that none of these clearly articulated positions have come true. Everything they said couldn't and wouldn't happen did in fact happen. So, having missed out on the market's huge rally, I am looking for some other well articulated blog so that I can put all my money into the market and get screwed when the market crashes next month. | 2023-07-27 |
931 | 5 | What are your thoughts on ethical investing? | null | 24 comments | 2015-07-27 | Hi All,So for background, I've got a portfolio I like but I will be the first to say I am not really in funds that I 100% support ethically as the holdings are in companies that are very unethical like HSBC and Johnson & Johnson for starters. Nestle is probably in there too but I didn't see it listed in the top 10 holdings (I don't know where to find a full list of a funds holdings, I'm also somewhat new at this). I chose this portfolio for diversity and low MER rates but I can't help but dislike the idea of my finances supporting companies I don't. Still, I want the best return on my investments so that's where I am until I learn more.My question to you fellow redditors is what do you think? Can you build a fully ethical portfolio and still make good returns on your investments or are we doomed to continue to support questionable organizations just so we can try to get that ___% growth in our portfolios.Here is one Globe & Mail journalists opinion http://www.theglobeandmail.com/globe-investor/investor-community/trading-shots/ethical-investing-a-feel-good-way-to-lose-money/article5043743/And an article from Forbes on how to go about it http://www.forbes.com/sites/feeonlyplanner/2013/04/24/socially-responsible-investing-what-you-need-to-know/And one more link http://en.wikipedia.org/wiki/Socially_responsible_investingRead, discuss, have fun :) | 2023-07-27 |
932 | 30 | Fewer than 20% of Hedge-Fund Managers Showed Stock Picking Skill in the Past Year | http://alphaattribution.com/post/111593324240/skilled-investors-are-hard-to-find | 28 comments | 2015-07-27 | null | 2023-07-27 |
933 | 16 | Virtu posts another year without a day of losses | http://www.bloomberg.com/news/articles/2015-02-20/high-frequency-trader-virtu-extends-nearly-unblemished-streak | 28 comments | 2015-07-27 | null | 2023-07-27 |
934 | 17 | For anyone in Sales & Trading, what exactly do you do on an average workday? | null | 14 comments | 2015-07-27 | null | 2023-07-27 |
935 | 8 | What are some wall street/finance documentaries would you suggest to watch? | null | 13 comments | 2015-07-27 | Hey guys, I've just recently (over the last 2 months or so) started to be very interested in the stock market and the thought of working as a trader in a hedge fun or independently. Is there any documentaries that you guys have watched that maybe really sparked your interest or just had a lot of good information? | 2023-07-27 |
936 | 78 | Where can I learn financial mathematics on my own? | null | 30 comments | 2015-07-27 | So I am a 3rd year college student on my way to completing an economics degree along with premedical classes. I have taken calculus 2, I'm in a stats class now, and have a decent understanding of mathematics.I want to be a doctor, but I'm still very interested in financial mathematics and don't have an understanding of it yet.My question is, where can I learn financial mathematics online? Or is there something else I should focus on learning? Thanks guys, any help is appreciated! | 2023-07-27 |
937 | Vote | I got 132 IQ on the international IQ test. It's probably the most accurate online test. How high is your IQ? | https://alb.reddit.com/cr?za=lo23F_95czHGPhvHiA6k9JbzpRf_LaGSgFa3aco_FuS72yDrp4diL-dGL5NlFW5J1nxjjNoIAGlhEU9_Fjd9LX_XbWUe8Xezb6v8DYx79b9Dj6pyGhk84VDC0-_TN1-p-0pGGKIu32uB8EE7DuwkA9TIkxP8nTkFt-U3s4Qo3MFY9hM-esVQS10I5vDJE1Lu0OPfaTUUWSauhVDJjyrBONXFFMF7uKFZVOlgXPJZJWAyU6lZstaIHz1K2lLWnCKvqitKUXSwyIjLFI90dcTUKDYederqmGULBQXBPitFCHuoiQEKMxDbe9j-TxCoQeao0E-KFbjykZmWXuTOKz3k_ef_wjCeJJGaX-xZ5KFgSgTavWMEiufW_f9IewMkFlGHWMXWe3_M&zp=8PFvviLTuqzIOxcntNv203IAPprfa4etPKL0yPxGPF33YiaABBs-rkR5cNkrWP87V5LF3tLjUs3YV0zk9uqVW7o1A11fPk8xKtYKAZX7xEq2-eb5ZmyXBg4-4Tt0xMczOjF22VGh3gK5HZpTQspYGlRmkLaaK3vJEOMq6Hk4tVf9dvQXE1vC | 0 comments | null | null | 2023-07-27 |
938 | 1 | "Women are better investors than men" (Business Insider / Sigfig article) | http://uk.businessinsider.com/how-men-and-women-invest-2015-2 | 18 comments | 2015-07-27 | null | 2023-07-27 |
939 | 12 | Would a minor in mathematics along with a major in Finance and a minor in economics look good to employers? | null | 31 comments | 2015-07-27 | And would it be worth the time and effort?Would it actually help my career in asset management (I don't plan on being in research)? | 2023-07-27 |
940 | 52 | Goldman Sachs is America's Most Hated Company Because America Is Kind Of Dumb | http://dealbreaker.com/2015/02/goldman-is-americas-most-hated-company-because-america-is-kind-of-dumb/ | 203 comments | 2015-07-27 | null | 2023-07-27 |
941 | 0 | Income of 70k to 80k, MBA right out of undergrad worth it? | null | 33 comments | 2015-07-27 | I am curious as to why people are against applying or/and doing a MBA right out of undergrad. Any personal experience/ input on ROI of a top MBA is appreciated.My main question for people against MBA right out of undergrad: if MBA is good for 5 years down the road, wouldn't it be even better to get it early? (larger starting salary, increased promotability and credibility)I am a college senior with 2 years of internship experience thinking about applying to Harvard 2+2, Yale Silver Scholar, and similar top ranked MBA programs that accept college seniors.The reasons why I want a MBA now (or in 2 years - early acceptance) from top school:I have an engineering background and would like to work on the financial and strategy side of a corporation (can be banking, consulting, or other)I would like to learn some accounting / finance basics and have a top MBA on my resume (alumni + reputation)The industries that I am interested in are very male oriented (old boy's club culture) a MBA from a top school will help me stand out of the crowd in a large corporation or get my foot in the door for banking/consulting positions. All the people (unfortunately all men) that I know who are on a fast track to middle/upper management mentioned "some mentor in a position of power" who took interest in them very early on in their career.i.e., I want to be taken seriously as early on in my career as possible and it can be challenging sometimes as I am female.4. In the long run, I would like to run a company/financial side of a company5. People usually apply after 2 years of work experience with little to no internship experiences. I already had 2 years of work experience (my internships were longer than 4 months)About me:I have no student debt from undergrad as I worked 2 jobs during school + well paid internships.Always knew that I wanted an MBA and it's just a question of when to get it. | 2023-07-27 |
942 | 65 | Why does the "pre-market" exist? Why not just extend normal hours? | null | 11 comments | 2015-07-27 | Hi all! I'm not sure if this should go in r/finance, r/stocks, or r/investing, but this seems like as good a sub as any!I'm curious what's up with the pre-market system. It's basically exactly like the normal market, except you can only use limit orders (at least with my broker). What's the point, and why is volume so much lower during pre-market? Wouldn't traders utilize the entire pre and post market hours to maximize opportunity?Big earnings jumps often happen in post or pre-markets, so why not just either close trading entirely outside of normal hours, or open it up fully, maybe even make it 24/7. Do you think 24/7 hours will ever happen with the global internet economy we have today?Edit: also curious about if these trades happen on the real NYSE and NASDAQ exchanges, or some kind of secondary marketsThanks! | 2023-07-27 |
943 | 1 | Writing a novel on the Stockmarket | null | 5 comments | 2015-07-27 | I'm working on a story set in the future but struggling to find a good subject for trading that could be the basis for a few corrupt broker/banker antagonists. As it's set in the future, high frequency trading would have taken over by now 95%. Huge buildings of servers with private investors competing for latency.Help would be greatly appreciated. | 2023-07-27 |
944 | 43 | Any REIT experts out there? I've been recently studying the asset category... | null | 20 comments | 2015-07-27 | I've been working in institutional CRE for about 10 years, but primarily with individual deals, not public markets. Until recently I'd never paid more than cursory attention to REIT sector as a whole. I've worked a bit with CMBS and have been shocked at the lack of transparency REITS have relative to CMBS. Here are my initial conclusions on REIT transparency problems (feedback welcomed, especially if something seems wrong!):REIT companies either don't estimate or report property valuationsThe analyst community also doesn't value properties (and at most applies a general cap rate to the NOI produced by the entire portfolio)Property revenue and expense line-items are not reportedNOI for individual properties is not reported (but sometimes a company-level NOI is reported)Rent rolls are not reportedAcquisition dates and acquisition prices are not maintained or reported in a standardized formatProperty level mortgage financing terms are not reportedNumber of properties, property square footage, property city/MSA, property type are not reported in a standardized formatI contrast this with the public debt market (CMBS) where:At issuance, every property has a 3rd-party appraisal, rating agency commentary, and rating agency stressed appraised valuesAfter issuance, the analyst community (KBRA, others) have valuation staff search for comparable sales, analyzes NOI durability, and perform quarterly/annual/as-needed valuation updates on the most significant properties (and all distressed properties)Rent rolls are reported in a standardized format. Lease rollover tracking is robust among rating agencies and data vendors.NOI, including revenue and expense line-items, is standardized for every CMBS property (and reported quarterly)All the additional property information listed in the REIT section above is tracked by many competing data vendors (Trepp, Morningstar, KBRA, Bloomberg, etc)Why do these low-risk (~4% yield) CRE mortgages have so much better transparency than the first-loss REIT equity pieces? A large REIT value component is acquisitions and management's ability to maximize value, but I would think valuing REITS via the Net Asset Value method should still be more robust than a portfolio wide cap rate. My speculation is that:REITs are older than CMBS, and were created when Excel didn't exist and investor transparency was much worse.REIT issuers have no incentive to lobby for increased transparency requirements due to the added cost (and possibly the reduced ways in which they can make money)The REIT analyst community has no incentive to lobby for increased transparency because they have established ways to analyze and report on companies with the existing structure (there isn't an alternative public REIT 2.0 universe of securities)The only meaningful REIT data vendor (SNL) has no incentive to lobby for increased transparency because they have a monopoly on the [very] limited available data.The only group who should want increased transparency is the investor, but that group has made very little noise on the topic as far as I can tell (by comparison, CMBS has the CREFC working group that can, and does, demand what the issuers and servicers will report)edit- formatting | 2023-07-27 |
945 | 48 | How to write an equity report | null | 11 comments | 2015-07-27 | Can someone give me a good guide, or try to explain to me how I can write a good quality equity report?I would also like to know if there are any websites that contain equity reports for free as I can't seem to find them. | 2023-07-27 |
946 | Vote | Our interests are aligned with yours. So what’s important to you is important to us, too. | https://alb.reddit.com/cr?za=v4VrE9QazAr7F8_X-Ro0AnJjOZ_zwGKKObgB-d6ZqoiAxQA9XV5JQIxynnGryh590Hgl0NE-pkAXyiuh_Wn9WturWc6YBJhrZAtKNUtu9o1PF_5YwHiBYTHEQuUb8jt2tAk1IDcJySGhp-aih4Uyu4SFw_i1qMM2fTf1DwSp8P80irFLk9T4AdgDaWQSDYLj9NQ-PXlzaFTLbZAkhNbrLd0cA-UMwVLm_OKH8ygiA5abbBI9f-K7Zyz2OBig7SaTVwcHnSSAiSswDDsMWrEYKPOOM5vgr_qmSR5dAa8-vvhCS6qxfAkqCKMKgyj1eqIwlGZSL10SUdRFx78ggu2Lk5D7GB2OQCdUynMonAZjFQmGiiSlsmWW4VlyjWO6mIW-4Q&zp=KnYiHmccJXgWuEG2p5nRxgrrY4mY0F8MCyV7NKA44_Fw6ZNe2AOoCWY0h3vgWhhh5Mehj-dQxA6HZnfvb2RqB1qF4e0tdBiXnzSd9nq_ZZNRgPgo97B4kS9p2W6aqOr38vNGP1mXI1lU5DAspy0tExxnyXQoEwA8gayj8F5-02RSuOzn7tHVUDTHUtS4eaaio30FKPJjtwick5lKBDC4kOm2MgXhjN3SnLSk700WuTgAXPfOD17P3UycQUmO4dDM4F74hrtnnqg0SQMbfYMKfWRrYmofMXjOY6LrAh9-NHav2rRpEqEsdvJ6O7oCtkLjjs87NSg-BCU8e2AKQ9YR_r_YmYk0Iig0lva-0e1p9Ul-fXYbLDXj1OewGmmhWGjp8qZYKc9o1w | 0 comments | null | null | 2023-07-27 |
947 | 0 | Usually how many stocks in a hedge fund? | null | 21 | 2015-07-27 | I am doing a project for school. We are asked to create a hedge fund. Usually what is a good number of stocks to have in a hedge fund? | 2023-07-27 |
948 | 55 | [Guide] An Introduction to Working Hours in Finance | null | 76 | 2015-07-27 | Careers in finance have a variety of social stigmas and are the subject of many stereotypes. We could debate for hours about most of these, but one of the most common is that working hours are extremely long. The answer to the question of whether that is true or not is...kind of.
The fact is that careers in top tier finance have, generally, significantly longer than average working hours.. Even if you ascend to the highest ranks, you'll be working well over the standard 40 hours per week.
While it is generally understood that analysts and associates work more than MDs or upper management, the reality is that if you include time spent meeting clients, travelling, and answering phone calls/emails, the average MD's working week will still be extremely long, in comparison with most other professions. If your intention is to suffer through your 20s with the expectation that you'll be on a 9-5 by the time to retire, you're sorely mistaken.
That said, within the financial services sector, there is considerable variation in working hours depending on job. Given that many people on this board are students, I thought it might be worth summarising what you can expect working in major Western financial centres such as London and New York. In Asia, hours will generally be higher, in mainland Europe, they'll be lower.
The results are a rough estimate based on my own experiences and those of people I know. I am a VP in ECM at a bb. To make clear what I mean, I am attaching a short description.
Corporate Banking This is selling loans and assorted other services to major corporations. All banking hours are seasonal to an extent, but corporate is more than most. At times all nighters are common, at others, I've seen corporate bankers stroll into work at 11 and leave at 3, especially during the Summer. Generally though, you're looking at 9am to 10 or 11 pm, six days a week, which is medium level for banking.
Trading floor Trading probably has the best hours in banking. Wake up early, stay until the markets close, debrief, go home. If you have any intention of maintaining a life in banking, this is probably the way to go, because you'll actually have time to spend in the evenings.
"Investment Banking" I've put this in quotation marks because so often there are actual misconceptions about what counts as investment banking. In reality, investment banking is ECM (equity markets) DCM/fixed income (debt markets) and M&A (Mergers and Acquisitions). Working hours vary between them.
ECM/DCM hours are reasonable for banking. If you're in at 8, you can expect to be out at 8 or 9. In my experience, all nighters are extremely rare, and the climate is actually pretty reasonable. Working week is the usual six days.
M&A has by far the longest hours in finance. Being arguably the most prestigious and thus competitive sector of investment banking (even though salaries across ECM, DCM and M&A are often very similar) comes with a hefty price. Standard hours are 9 am to 1 or 2 am, every day, six or seven days a week. Much longer hours are also common during heavy periods, and multiple all-nighters in a row are far from unheard of.
Hedge Funds and Private Equity
I would prefer if other redditors stepped up here to help, but as far as I'm aware these are both more like 60-70 hours a week, though the bigger the place, the more hours you'll work. I've heard of people at some boutiques doing a 40 or 50 hour week, but frankly I'm not sure how common that actually is.
. | 2023-07-27 |
949 | 144 | I am an analyst at a dark and mysterious hedge fund, AMA! | null | 240 | 2015-07-27 | Partially because of the influx in interest shown though my inbox due to the profession thread here, partially because of the dope flair I can get for doing this, and partially because I am clearly a narcissist and like attention I am hosting an AMA! I also am procrastinating hardcore.
I am an analyst at a hedge fund where we go long and short equities, and I analyze pretty much anything for my managers. My situation is somewhat unique because I'm allowed to invest alongside the fund in my own ideas and I like to think my portfolio managers listen to what I'm thinking. I really like my job and intend to stay in finance for the foreseeable future, and hopefully one day I'll start my own fund.
Other than equity investing I've advised a couple of start-ups on their business practices and capital raising, but I am by no means a good resource here.
Ask away,
EDIT WHEW! These AMAs are tough. I'm done for the night but since I'm addicted to reddit I'll probably check any new replies, and there are a few comments below I still want to respond to when I am in the right frame of mind! Thanks everyone for your interest, I only hope I could help you guys out with your questions enough to justify dedicating a thread to myself
EDIT 2: Thanks for all your interest everyone! I'm glad to help and will still be reviewing this thread but think things are finally winding down, but if it's a useful question for others ask it still! Also, a quick side-note: If anyone knows Veronica Vain can you tell her a semi-successful, self-proclaimed handsome analyst wants her bad? Thanks again, and good luck to all those aspiring analysts and students | 2023-07-27 |
950 | 5 | Are there well paying finance job with normal hours (~40)? | null | 14 | 2015-07-27 | Growing up I was always very good at math, and had an interest in finance. While beginning to think about college though, I had many different teachers all tell me I should stay away from finance because the hours would kill me, and it wouldn't be worth it. I value my time, so I took their advice and went to school for computer science instead.
Flash forward to now, and i've been a software engineer for a few years. While I kind of enjoy it, I still kind of regret not going into some sort of finance. I have a few friends who are developers at some financial places, but they're really just doing normal software development at a company that happens to do finance.
While I don't enjoy being just a software engineer too much, I definitely enjoy the hours. In the last few years, I've never put in more than a 45 hour week (average <40), and have had to do something on weekends twice ever. Even if I enjoy finance more, i'm not sure I could adjust from a <40 hour week to a ~60 hour+ week. This leaves me with the following questions:
-Are there any finance jobs that are ~40 hours, but still pay well? I'm making a little over 100k now, and would ideally like to transition to something making about the same.
-If so, what would be the best path for me to get a job like this? More school? Self studying and some exams? My financial knowledge right now consists mostly of personal finance, so i'm a bit out of the loop of what I would need to do. | 2023-07-27 |
951 | 2 | Is there a difference between the price of a forward contract and the price that the two parties who make the contract agree to buy and sell at? | null | 2 | 2015-07-27 | I have learned that the price of a forward contract on a stock is the current price of the stock (denoted S(0)) grown at the risk free rate for the duration of the contract (let's say T years). So it would be S(0)erT where r is the continuously compounded risk free rate. But when people make forward contracts with each other, they agree to make the forward price whatever they want, don't they?
For example, a stock could be worth $50 now, and I could agree with someone to buy it for $40 in a year for whatever reason, and that guy will sell it to me for that price. Isn't that all there is to the forward contract? Where does the 50er*1 come in? Is that the price of the forward contract itself? Can someone please clarify how this transaction occurs :( | 2023-07-27 |
952 | 128 | In your opinion, what are the most enjoyable careers in finance? | null | 71 | 2014-07-27 | null | 2023-07-27 |
953 | 24 | Examples of using Python in Finance? | null | 30 | 2014-07-27 | Hi, I am a finance major and have started doing web dev on my own, focusing on scripting with python. I hear all the time that python is a great language for financial analysts to use as a helpful tool. What I am learning doesn't have anything to do with finance, so I'm curious what those in the field do with python? Could I see some examples or have them explained to me about their use? | 2023-07-27 |
954 | 2 | Series 66 exam sponsorship question | null | 8 | 2014-07-27 | This question is on behalf of a friend:
My window is open to take the series 66 exam through the company that sponsored me. I am still in "pre-employment," so I am not on contract. I have also paid for everything out of pocket thus far, and wouldn't be reimbursed until 3 months after achieving a contract. Can I leave the company and start looking elsewhere without losing my window for the 66? | 2023-07-27 |
955 | 19 | Applying for an entry level Corporate Actions, what should I know? | null | 14 comments | 2014-07-27 | I'm currently researching an entry level corporate actions job that I will be applying for at a financial company. Keep in mind I have no experience working in an office environment and have some college experience. I have people that are going to help within the company where I am applying, but I will be interviewing and need to know what I'm talking about to have any chance at getting the job. -> What I am hoping to gain here is first hand knowledge of the position and the general day-to-day responisbilites. Anything you have to offer will aid my efforts. If anyone who was previously in that position and is now in a hiring roll for such jobs, what do you expect and look for in a potential employee? Any input at all about the position or advice in general would be greatly appreciated. On a side note, I have worked in trades and hospitality previously and understand it is dissimilar to an office where most days it is a collaborative effort across many departments. You work primarily with people, not material. Feel free to ask questions of me to help better answer anything I have asked. Thanks. | 2023-07-27 |
956 | Vote | I got 132 IQ on the international IQ test. It's probably the most accurate online test. How high is your IQ? | https://alb.reddit.com/cr?za=rHbr6xQt8zpun2gnL7Vhs9NYqEwG7eZJvsD0yUFg28dm80Xt4RTnhx9PHzvfL0eD56d5TKyyjs06ffhJ1tfWQpTL5yv326BYPg9dFiulQm1U0LwZR15NcEhdfN-UhvycWz65mtRBi17NT5QhZUb7pxrjKM7FbDotAwS_XccbDOgHH9sREzmY8lqflI1-el6M8Y5QqetLu-kFzYwdWucCT-8TMYFz0CBUlziXh-S-_EHUiRYva9pbq58G_CgcY6Cv6KBYX7-H7h1edC6IJ0xzRNcmFqQqoZuJegTCpl9I-o8Jz5pFqAAVmJYkSP4YX82DwzLomAMBanoCy1i34wdFFBvbdWHGPusLsOvpa2SWuL0dmbBOYSPnYlKX4IsiWPmPQ72CXQXS&zp=_NOvM_rVIbQAIrQxDGgvITYEfoihh0T3l1uf1s1jEUSVLn-WxWBEUC6QwrzkghEH2GMT1rQvSar6lMUhxjew8ejKeHKM1PIP2UP0rMkGc0iPx5D-BPYsRw0pOKZuvtlGtSQjoXKDWcv6YHC455HjGMWW8-DzWjmdafMcjT4J7_TIxev6_ai7 | 0 comments | null | null | 2023-07-27 |
957 | 34 | Forbes 30 under 30 - Finance - who are these people? | null | 61 comments | 2014-07-27 | http://www.forbes.com/30under30/#/financeIs anyone a little surprised to see these people on the 30 under 30 list? Shouldn't those who are going out and busting their ass to make huge bets, call shorts, and start hedge funds be on there and not these mid-level bank executives? | 2023-07-27 |
958 | 16 | Good test project for summer undergraduate intern at hedge fund? | null | 20 comments | 2014-07-27 | Hi Reddit! The hedge fund where I work is considering hiring an undergraduate summer intern (in addition to the business school interns we normally have). For all hires, we provide test projects as part of the interview process. For business school students, we usually assign them company and have them build a model and write a report. Undergrads, however, don't have specialized financial modeling skills yet.Do you have any ideas for a "general" finance project for an undergraduate to complete that would showcase his abilities (resourcefulness, intelligence, diligence, etc.)?Thank you in advance! | 2023-07-27 |
959 | 11 | Prime Brokerage Interview Help | null | 7 comments | 2014-07-27 | Recently got through the first round of a Prime Brokerage internship position and have been put forward for an assessment centre. What I would like to know is if anyone can help me distinguish some of the operational differences and the general identity of Prime Brokerage from the greater Asset Management domain as this seemed to be the line of questioning they hinted I would need to be fluent in in order to further proceed. Also if anyone had any general tips for an investment based assessment centre too that would be greatly appreciated also. Thanks! | 2023-07-27 |
960 | 26 | Oil & Gas Investment Banking Interview Prep | null | 17 comments | 2014-07-27 | Looking for insights on how to prep for an oil & gas interview. I'm a Masters in Econ student and I just wrote CFA level 1 in December. Wondering what kinds of things to prepare for that wouldn't be covered by my background since I didn't do a Bcomm. Also looking for specifics on the oil & gas industry. I'm an avid investor and read market news daily, but I've never invested in oil and gas specifically and thus am inexperienced with the industry specifics. Reading as much as I can find on the internet right now through investopedia/WSO/mergers and inquisitions and grabbed the vault guide and book by Rosenbaum, but would love to hear some tidbits from those with experience on this sub. Thanks! (Position is in Calgary, Alberta) | 2023-07-27 |
961 | 7 | What would add to a CFA? | null | 22 comments | 2014-07-27 | I completed my CFA and now I am looking for what else I can do that would add to the designation. Ideally something that wouldn't take too long, though I am not too concerned with the level of difficulty or number of hours of study.Currently I am working in real estate investments, so I am not sure a CAIA would add much.Thanks. | 2023-07-27 |
962 | 6 | Muni bonds tax "priced in"? What's this guy mean? | http://mobile.bloomberg.com/news/2015-01-02/bond-tax-break-threat-recedes-with-federal-deficit-muni-credit.html | 9 comments | 2014-07-27 | null | 2023-07-27 |
963 | 1 | What is the most secure career path to make lots of money/no risk if done right? (i.e. surgeon, lawyer etc..) | null | 37 comments | 2014-07-27 | null | 2023-07-27 |
964 | 16 | When In My Career Can I Start Pronouncing "Finance" Fin-ance? | null | 11 comments | 2014-07-27 | Just wondering, feel like I'm not ready yet. Going to stay with Fi-nance for now. | 2023-07-27 |
965 | Vote | At Vanguard, you invest in what’s important to you. So we do, too. That’s the Value of Ownership. | https://alb.reddit.com/cr?za=EODaxUtl0dA0WXT1vnYVPahnQSQVV1L5w2mYfVBYy42_bOD8Ts9O72ciOdVTamaT5cfQxbVkwFES0fCprFCCGoWBBikneBJKkOPndR1u8_681iyxxV1sgAOGj526O302oRX2cAmSbvSqMvMbADvnT7I2doQIsEdI7LnhhRxzbRyb97ehaKeWmR-XGAF1ddDj1Rd7Tmv8HvtEYW9ivkul77c3pWVsLF5PUSIK--4o-ohCVbCkyRu4biZ3n_doU63vl8mduY5fttu87wNhIcBKzEPYWSQfqxOHhaECVoa8ekxlWPjIRLQPo5Elzduo60c6GqrYtIn6lxJWiWFmZHnnhJJ9ISYCj5k9Gcr14IHxVWxdqh3QoLre9p5--yVNPwOKvA&zp=-3q8ZU5NoOkPB7WB8_L_K9AMC9XNSpgWQi6qNcYVcBLK6fjh9z8rn9uVEX9CVv8e3SMFFW1q4A0VvKR7dxH3lePVSh2x_n4U0AjEXnWPVF5cpEUT5QdhBKlFk8t1BLbAlrAZAFGXuU2MQbypso9zGRS4c2FW6mWKDhMyfb6VUgqxJxqVLCghDBmn1xbwDUm8quo5f0PzkPV00V6j7iePzO73_pl9zR-AohmAfgBTDkb39VP93bssfEseIAmY9hZpjj5Vt4n1h3JY26T1L_yup1MAAArBUKdAY2QsuKVKjb3lSuD4liuVxVvdyLtYU_vT8Zmk4VnVIwCUzfsZllDkRuzns_qGdYe_foQeUBalXqQn9DQn4yHUH_QK_WfkoKXiHg | 0 comments | null | null | 2023-07-27 |
966 | 1 | Male with long hair question first in-person post phone interview for FX analyst | null | 14 comments | 2014-07-27 | I'm a male and have long hair... I understand that first impressions are only made once. Would having long hair (long enough for a pony tail) hurt my chances? What's the attitude towards that. I've been discriminated against because of my hairstyle choice before but that was in a shitty job, so I threatened to take legal action. But this position is 1 in a million because it's exactly what I want to be doing. I've honestly dreamt about this day and this is the closest I have ever gotten to fulfilling my dream.They may not say anything during the interview, but they have the luxury of not explaining themselves if they don't call back. Beggars can't be choosers and we all just have to play the game and suck it up. Maybe after I've proven myself in a few years I could grow it out again, but what's the general attitude towards this sort of thing? This is in Canada by the way and I have no previous finance work experience. | 2023-07-27 |
967 | 27 | Free ways to get news access - FT / WSJ / Economist / ETC | null | 19 comments | 2014-07-27 | Hey guys, was looking to learn more but didn't want to pay for these subscriptions.Anyway to get them for free? | 2023-07-27 |
968 | 37 | Can we make a list of winners and losers in deflation? | null | 21 comments | 2014-07-27 | I'm getting kinda sick of the macroeconomic haze of whether deflation is good or bad (and the recent doublespeak about good deflation vs. bad deflation in the U.S. and Europe), and I think financiers are much better positioned to speak intelligently and clearly on the impacts of deflation.Thinking in this vein, I tried to make a short list of the winners and losers in a deflationary environment assuming no change to liquidity, money velocity, PCE, or any other hypothetical side effects of deflation. Please correct me and add more if you can think of any:Winners:Retirees on a fixed incomeLow income workers at or near the minimum wageBond holdersCreditorsLosers:DebtorsMost governmentsPension fundsEquity holdersRetailers, especially on low-margin items | 2023-07-27 |
969 | 0 | Help me with my M&A research | null | 4 comments | 2014-07-27 | Hello, I am writing a essay about M&A Integration.I need some people with M&A experience to answer a quick research about risks in integration.https://docs.google.com/forms/d/1UMByd3CSqlWOjOZLeowwa9PRYAPzlJWUVXPoX9dbgCo/viewformThank you for your contribution.btw, I am open to questions | 2023-07-27 |
970 | 10 | Preparing for Finance Internship Interviews | null | 18 comments | 2014-07-27 | Hello, I am a Junior Financial Mathematics and Statistics Major and I have recently landed a few internship interviews with Wealth Management/private equity firms. The individuals I have spoken with are personal, life-long who have set up the interviews.I have had minimal experience/education in finance thus far and am trying to learn more about the industry independently in order to be more prepared for these upcoming interviews. I have taken a solid amount of technical math and stats classes, just nothing in finance with the exception of macro economics and one general accounting course. I also do not have as strong of a GPA as many people applying to internships in the industry (between 3.0-3.1), but I have many leadership experiences.I am posting here to receive any sort of advice or helpful resources specifically for someone with minimal financial knowledge and a lower GPA, such as what sort of things I should be trying to learn about before these upcoming interviews and what I should primarily focus on during these interviews.Thanks so much! Any help at all would be greatly appreciated. | 2023-07-27 |
971 | 2 | Calculating DCF | null | 6 comments | 2014-07-27 | Hello, I am trying to learn more about stock valuations, especially the DCF. I was wondering how exactly is it calculated, and if I need an account at an investment firm (such as Charles Schwab) to see the analysts' forecasts needed to calculate the DCF. Any advice would be appreciated. | 2023-07-27 |
972 | 1 | Explain equipment depreciation like I am 5 | null | 7 comments | 2014-07-27 | I work for a manufacturing company and I understand that a piece of equipment loses value over time however I don't understand the importance/benefits/downside to equipment deprecation from the finance perspective of a corporation. | 2023-07-27 |
973 | 27 | Why do some companies issue bonds and other get loans from banks? | null | 42 comments | 2014-07-27 | Why do some companies go through the trouble of issuing bonds when they can just get loans from banks? What is the benefit of issuing bonds vs. borrowing from bank? Can you get lower rates from bond issues? I know CFO's will try to target their interest rate to optimize them at a certain level for tax shielding purposes - does this have anything to do with it? | 2023-07-27 |
974 | Vote | Verliebt, verkatert, hyped oder entspannt. Das Radio SRF Virus ist live mit dir, für alle deine Moods. Mit unseren fünf Hosts mit fünfmal mehr Charakter. Jetzt reinhören und mitreden. | https://alb.reddit.com/cr?za=0JXAfepY95EnEOxtz8ejJqPfD1otIIu3CXoLjztFt-taJofmW_qm_U7b1D8vIO2dv_hGVaiLyGKgR4d_Ng--esn0TbQuVd6rqeEhSOThyB0Qyde35vy0ZVDqLDyBLvfAwyri1hVEfjaZN_6DP0ixIXUg0upUKVh2IjWWcz9txPoqTuJ_Azl76LjJq4NSv3vQFNHXdLdu0lEOYI8s1Z_sTRH2msF5MpgYybQj7WvPtmkJo665avtiRZ9c47ScaL2dnrzfviKF1KmCWKxYErrb4_scD679on4EkDWP6RT45THb41TiUMXfdzINd5HPKrlkA1me-PBJU4mVr7NBR4195lHhxuCqVMWL9jHrfo42E0CNAQ8vbNoBH9-A_WvWugWEmQ&zp=LuIfa-rJ8UIFsuJugTgc4KdDBqKDwDy3Y2SdS8qx9yzg8gSBT55rD-HJkcSZiLsjaB1pIB7ZsA9DANhcyzRgaWchmNXn5VAxdcP7FqCGZ71Pb_bkzS1tEUg3DAHio6zt4K0Ywwf2keg6y8AeEvVeHlNgwqeSuD4EOId-hSrjS9SrNubGKMqgvb1AFNT5pBd0en6V-8_QO1AYnnlZQHY1-qO6xZ_KlipMLbuG6b8vaopyrXFGKeyFcSQD9MkDTT5ETebFpdFWMA | 0 | null | null | 2023-07-27 |
975 | 17 | FT's Year in Finance | http://im.ft-static.com/content/images/ff107cee-7f74-11e4-b4f5-00144feabdc0.pdf | 1 | 2014-07-27 | null | 2023-07-27 |
976 | 0 | If I don't feel that I can get into a target school then which colleges should I apply to | null | 30 | 2014-07-27 | So far I'm applying to NYU and Penn State. Penn state's Nittany lion fund seems really great and people are getting jobs straight out of there. Any other schools that you guys would suggest so I can get a robust 10+ list going?
I'm down for anything but closest to NYC is best for multiple reasons (born, raised, and am currently in Brooklyn to name one).
If you're a monkey, post here - http://www.wallstreetoasis.com/forums/if-i-dont-feel-that-i-can-get-into-a-target-school-then-which-colleges-should-i-apply-to | 2023-07-27 |
977 | 17 | Why shouldn't I get into forex trading? | null | 54 | 2014-07-27 | Why? Because you don't understand hyperbole, irony, and sarcasm?
To clarify, I don't actually think most traders or IB are living the models and bottles lifestyle. Again, it was said jokingly. | 2023-07-27 |
978 | 9 | The importance of undergraduate business school. | null | 15 | 2014-07-27 | Hi everyone, I have a question regarding how important one's undergraduate degree is. I'm currently attending a liberal arts college in the Chicago area and was wondering whether it would be beneficial to transfer out to a more "prestigious" school like University of Chicago or Northwestern for my undergrad. I'm currently a finance/econ double major and will be graduating in Spring 2016. I also plan on getting my MBA. Basically I'm worried about my future prospects and want to be sure that I'm setting myself up for the best possible options after graduation. | 2023-07-27 |
979 | 3 | Typical Financial Projections for a New Advisor | null | 21 | 2014-07-27 | One of the sections in my application process requires me to figure out what reasonable expectations are for new assets/household accounts in Months 0-6, 7-12, and Year 2 and rationale behind obtaining these numbers. I was wondering if anyone on here would mind sharing their own personal experience, and/or what they view as typical industry numbers for a new Financial Advisor. | 2023-07-27 |
980 | 7 | Would anyone work at Point72 now? Formerly SAC Capital | null | 9 | 2014-07-27 | I got a job offer for a back office role at Point72 Asset Mgmt (formally SAC Capital). The former firm obviously has some history, now it's a family office.
Would anyone still consider taking a job here? The pay/benefits seem good. Not sure if there's been any culture change since SAC. Although formally a family office it still seems to run like a hedge fund so I figure at least it's some good experience dealing in some products that I could use some more experience in.
If anyone's worked here or heard of the internals recently, would love to hear about it. | 2023-07-27 |
981 | 6 | IAMA first-year analyst in a major investment bank, AMA | null | 57 | 2014-07-27 | It's a slow day at work, so feel free to AMA.
I work in the M&A practice at one of the largest non-BB banks.
EDIT: Sorry for the lack of information, but I'm trying not to get fired. | 2023-07-27 |
982 | 3 | Transamerica? | null | 22 | 2014-07-27 | Is this a legit company? I am being recruited by this company and there is something that doesn't seem right. I am currently pursuing my bachelors in Finance and it doesn't make sense to me to want to work somewhere where you don't need a degree. Does anyone have some insight? It concerns me because there is a MLM aspect to this as well. | 2023-07-27 |
983 | 1 | I'm trying to decide which career? A credit analyst or a performance analyst | null | 28 comments | 2014-07-27 | I have the best problem in the world, I have two job offers and I can't decide which one. The credit analyst job pays more now but I feel like I a career as a performance analyst can be more profitable down the line.Any one have any input? | 2023-07-27 |
984 | Vote | Verliebt, verkatert, hyped oder entspannt. Das Radio SRF Virus ist live mit dir, für alle deine Moods. Mit unseren fünf Hosts mit fünfmal mehr Charakter. Jetzt reinhören und mitreden. | https://alb.reddit.com/cr?za=jZHvHTZS3p_TLlUabBiGSE4PScKmSdi3Bco6mlFcMijZoqCrjY6A42FWhhdmGDhJHijZ2WLDVfQz2HXszKDGH8gEs4yKXyOCZWCFKtjUzCMQZ27Sa6XYyAThiD3ns6di8n9ziaQ9DZH77QU47jJHzjWAADeu9_XhxY6IY-Tq7_j00yNBpdRSMFBPXLFB6CdH-4tY4YJ5qggRxO3BU0yVdaUyyxt8_NziI8dGqSZ3Fv-MDVzaRx1weUjjbzCI3GCbxvwZFvmPdhw-01Ci7tyXEpED-G0KYB5YJ8eQmbvkrhy_zYl_EGK4bFP8-49yy0jSBg2F9i-dwZoIQ-l0pcYj-CQfV4bAckV1AlWvpqRFpLnuomhVE_i45DbkVG8raVWIOQ&zp=tji47Y1qI-ENAhSB05dDChi3uArNlnHi9WRDr8K_rRv0q-vHElDSur4nBgxlL0HwlOg_WOXSDl4zWWygVlP1bhRehpNVHnR6PrudDO-jjKYBZcu7-Pn6_z-AHKeQ8MjlByzoZzE42d6EUnIVXP12I5PfeWfu-8NR7tHeIo4LfBgB4hFlYLoO13OWolj4aEXhRcuQb-wnYJ8nrj9zZGszg0RmDP70hfqdLJINW2rLCLy5FUXzgP6DN9Ju5rGiTgfAhU1dUnW1Ig | 0 comments | null | null | 2023-07-27 |
985 | 20 | FT vs. The Economist vs. WSJ | null | 16 comments | 2014-07-27 | So I have had a WSJ subscription for a few years now, and I read it religiously. I'm working in Fixed Income trading next year, and the WSJ doesn't have that much coverage of the FI space and is generally not very technical. I've heard the FT is more comprehensive and more technical/suited for someone who actually works in a Markets role. However, I've also heard The Economist is great reading.Lastly, FT is expensive as fuck. Is it really worth the money?If you were a bond trader and had to choose 2 of them, which would you choose?Edit Thanks guys. I'll definitely check out FT. I don't start until the summer but I want to be as informed as possible when the time comes. | 2023-07-27 |
986 | 23 | Why are paid credit ratings tolerated? | null | 16 comments | 2014-07-27 | One of the things I like about finance is that people in this field are not idealistic; they are not fooled by hazy claims or utopian ideas. A lot of the time, finance people are grounded, if sometimes too cynical. Financiers know how incentives make things happen, and how business models and industries based on the right incentives produce better results than bad business models.Because of this, there's one thing I don't get: credit rating agencies.Why the fuck does the finance industry tolerate companies paying an agency to get their credit rating? The incentives this create are horrible for anyone who wants a good understanding of a company's credit. This is why I can't pay Equifax to boost my credit score; the idea is absurd, and even a child could see how this could cause all kinds of disasters. So why is this thing common in the finance world, and accepted as the way things are? | 2023-07-27 |
987 | 13 | Project Finance Model templates? | null | 6 comments | 2014-07-27 | So I checked the side bar and the link for financial model templates but most are related to either a financial model for a start-up/business or for IPO's or for Mergers and Inquisitions.Does anyone have a template for developing a financial model to assess the viability of project?Thanks!edit: also, I'm looking for a mentor to help me learn more about finance and financial modeling! As a background, I'm an Engineer but my new job requires me to work on financial models for prospective projects. | 2023-07-27 |
988 | 49 | [Guide] Welcome to your first BB Internship | null | 51 comments | 2014-07-27 | Friends, every month, many people on this fine subreddit post asking what on earth they need to do to get that good internship, and most importantly, how to act when they're on it. In this post, I'd like to cover some of the basics, having introduced and dealt with interns for the past few years, and being our team's representative on the committee that decides who gets hired. I'd also like to invite anyone with experience, especially those with more time than myself, to share their advice and experience.First, a bit about myself. I am a VP (more on what tiers actually mean later) in a corporate finance team at a BB in London. for some more background for other UK redditors I attended St Pauls school boarding, and went to Oxford University in the very early 2000s. I have been in this industry for about 11 years, and am 32.Now, onto some basic adviceGetting an internshipTransitioning into high finance (which we will consider to be corporate finance/investment banking, wealth management, PE and Hedge Funds, generally front office, high salary stuff) after you leave college or university is almost impossible in London or New York. It is imperative to get an internship or work placement (where you do a year in a bank in between your studies) BEFORE you graduate. Around 90% of new hires are hired straight out college/uni internships.So, how do you get an internship? You apply online. Make sure you're a member (preferably a board or committee member) of your university or college finance society/club. Make sure your high school grades are excellent, your SATs (if you're American) are above the 95th percentile all round, and in your first year at university, make sure you are on track for honours or a 1st class degree. Then, in your second year, apply for an internship in the Summer. You'll still have quite a low chance of getting in though, unless you're an outstanding candidate.BUT WAIT.There is another way to get a fast track into banking. The 'Spring Week' internships, available at pretty much every BB and many other banks, offer a week of bullshit presentations and group work for students in their first year at university. You will learn very little useful things at these events, but they look great in your CV or résumé and most importantly, can be a fast track to an internship in the summer of your first year in higher education, which gives you a tremendous advantage over your fellow students who don't decide what to do with their lives until later. These internships often pay salaries that work out to around £38,000/$60,000 annualised, so you can make very good money for a summer of work.Spring Week applications open in early November, and they are a lot easier to get into than summer internships, so if you just started at University or College, apply now, as in literally within the next few days.Another important thing is your choice of University and Course/Major. It used to be that university mattered a lot and course didn't matter at all, which is why you see many MDs with degrees in Japanese or History. Today, that is much less the case. Studying finance, accounting, maths/statistics and some hard sciences like physics is key. You can still make it with a degree in liberal arts, but it's a lot harder than it used to be for people like me. It also used to be that you had to go to a super elite university to get in (Harvard and Wharton in the US, and Oxford and Cambridge in the UK). Today, you can easily get in at any ivy league + Wharton and NYU, and in the UK the top ones are Oxford, UCL, LSE, City (Cass), Durham, Warwick, and maybe Cambridge, though Cambridge is often looked down upon if you study something economics or finance related for some reason. It is also possible to get into high finance going to other schools too, as long as your grades are good.In addition, the most successful candidates are often those who interned or did 'work experience' while still at school, at the age of 16 or 17. Doing this requires contacts or family members in banks, but if you have connections, USE THEM, because just a couple weeks in BoA on the trading floor or at UBS doing debt stuff as a pimply faced seventeen year old can forever change your career for the better. Make contacts, and add them all on LinkedIn. Build a network, and start young.So, to recap, the ideal flow that will almost guarantee a decently intelligent person a good chance at a grad position in IB is:Short internships/work experience in IB while in high school.Spring Week in year one of uni/collegeSummer internship year oneSome more quick weeks in different areas (ie. private equity, hedge fund, asset management) while in year twoMore prestigious summer internship year two (some people prefer to go back to the same bank to secure a job, others want a variety of experience). If you can get an internship at a good fund or PE firm, you are golden at this point.Secure grad job at end of year 2 internshipDo well in your third year of UniGraduate into jobOnce inside the bank in a full time job, career progression is extremely simple: Analyst-Associate-Vice President (Also called Associate Director in some banks)-Director-Managing Director. Above MD there are a whole slew of jobs floating around in a nebulous mix, and so once you reach that level it's more about getting on bank management committees and executive teams and so on.This is not for everyone- some people do an internship for a full year in-between years 2 and 3. Others do things differently yet again. But if you don't have a solid plan, I offer mine as the easy route.[By the way, and I won't say much about this, if you have an interview it's usually just going to be a chat, with a few questions about recent events in the financial sector, a bit about your history/interest in banking, a big about the bank in question (the "any questions" section) and so on. There will possibly also be some kind of logic puzzle/non-verbal reasoning test to do online or (I have heard in some banks) in person which essentially requires decent spatial skills, maths knowledge, and reasoning ability. But this is far from the most important part, so don't sweat it.]Being A Successful InternSo, whether by hard work or your Dad's buddy at JP Morgan, you've gotten that first summer internship, and you want to make a great first impression. Here are some dos and don'ts.DOAlways show up on time. This seems obvious, but after a year of college, it can be hard to realise that even 15 minutes of lateness twice a week will be noticed by that one chap in the office, and will be brought up in the evaluation meeting.Take your older co-workers out for lunch. This isn't about paying (in all likelihood they'll pay for you), but about developing a rapport. There are guys in the cohort who I feel are almost friends by the end of the Summer, and guys who I barely know the name of. If the guys in your team remember your name, they are obviously way more likely to take you. (And for female interns who don't want to look like they're 'coming on' to a male boss, don't worry. Doing anything remotely flirtatious with an intern is practically grounds for immediate dismissal, HR sends about 10 email reminders about this every May, and most bankers are not, in fact, arrogant macho sexual harassers, but relatively decent family men who will likely have no interest in you in that way.)Say Hi to the senior guys in the elevator. Familiarise yourself with your regional (or if you're at HQ, global) executive team. If you bump into the CEO in the lift, which is far from impossible, SAY Hello. Often, the senior guys love hearing from people just starting out, and will be happy to share their own stories. One intern we had a few years ago began a regular email correspondence with our country head over the summer. When he joined the bank full time a couple of years later, he was invited as a junior representative to several senior committees, and rose through the ranks like a bullet. I think he made VP in four years. By comparison, for me, a relatively slow ascender, it took eight.DON'TPointlessly overwork yourself. Every year, I find interns sitting at their desks until one in the morning, browsing the news, because they think they shouldn't leave until we go. This is bullshit. Come into the office, work hard, and leave at 6 or 7, unless specifically asked not to. I have sat in a fuckton of meetings in which HR complains that they received anonymous complaints about 'having' to stay in the office for 20 hour days. Every time, EVERY senior banker in room sighs, because no one is encouraging it in the slightest. Junior Analysts? Sure, welcome to the land of no weekend for the next three years. But interns? HR forces us to structure all programs so that there is no potential for overworking. And no senior banker thinks worse of am intern who leaves at 7 instead of 12 in my experience. On a personal note, I tend to believe the former is more intelligent and capable, and thus a better potential hire.Be a super-competitive jerk. Every year I have to suffer the indignity of hearing intelligent 18 year olds badmouth each other to management as if I'm a primary school teacher. We get it- you watched Wall Street and think you're Gordon Gecko. Thing is, trying to step over your fellow summer interns as if this is the Hunger Games just makes you look like an asshole. Be competitive, be hardworking, but let us decide who did the best job. Most banking teams are flexible. They might hire two great interns one year, but hire none the next because they are all substandard.I'll try and update when I have time for more, does anyone else have more advice (or disagree with anything I've said)? | 2023-07-27 |
989 | 6 | Khan Academy good introduction to finance? | null | 4 comments | 2014-07-27 | Hey, accounting student here dropping by. I realized I dont know nearly as much about finance as I'd like.Would doing the entire Khan Academy library of finance videos be a solid introduction, or are there better resources I should check out? I want to dedicate the next few months to learn as much as possible, so any advice or recommendations would be greatly appreciated.Thanks | 2023-07-27 |
990 | 4 | I need to interview someone in the financial industry for an assignment. Please upvote for visibility. | null | 9 comments | 2014-07-27 | I'm a freshman in college, and one of my business introductory courses is asking us to interview someone in our desired field about what the position is like, company culture, etc. If anyone is interested, please PM me. Thanks! | 2023-07-27 |
991 | 16 | Let's talk about the back office | null | 21 comments | 2014-07-27 | For those of you working a front office role (not necessarily customer-facing), what's your relationship with the back office like? I'm mainly referring to Compliance, Onboarding, AML, those guys.I'm just curious because I transitioned into Compliance from an unrelated field and for all the talk on finance blogs about the resentment we're supposed to have for each other, my team has a good appreciation for what the traders/PMs are trying to do and vice versa.What about you guys, do you butt heads or are you BFFs?Edit: Fellow back office folks are more than welcome to chime in too, tell me how you get along with the front! | 2023-07-27 |
992 | 28 | Best Books for Finance Interview | null | 5 comments | 2014-07-27 | Does anyone have suggestions for books on preparing for Financial interview? Not necessarily IB related but also Risk, Equity Research, etc. Anything comparable to the Vault Guide? | 2023-07-27 |
993 | Vote | At Vanguard, you invest in what’s important to you. So we do, too. That’s the Value of Ownership. | https://alb.reddit.com/cr?za=WmJXcHYIVMnnNXERVJCLoYOsehU2Ui7J17gLa4YaFj8hg7JhsnRk-6oFCwtCTuwUbv_xgImBqidk5ZoFow2bg-O3MoVGh5y_-A-QtN8SRv9iMaDoVvK8kXwODVS6dn9KxacmE-Zi2gEblyouQdjA560tdxtzLQwVD2tAA2ejs7TBLEyc70Q8h6SmpFifIXE2ykXDH11shqfohPPO9poMszj7I3Xi4bkkOFOKVryRtyM6hLqTlI8kaRPt7IJ1ak6iRgL1uSekYeJkv-_L9EgMybmLMQM9g15UIwOZw-3ETKkWlvExWEQ3PlGN7ncwZFOabxgZPCGk4omp2qfQ5pMKcXRjpy1-5tCNKYt-GpF5VHG1hDJP5NdYT7eEkUeFVPZWug&zp=JwMqo9ydjpBZmwRTca70Bh8aaWqgAJWWYZnKOEPkBf7dO-xdLyJlttZYpUCsRpRN3NX5_hkAfI8oqPW2mHR-kTN8LuN4HmTN94qBJqYDGkS3i5PFad9YKI7skjjfx8REb6uClPMYvuaAm7Hiz6AFOlGrkWXXiwG6PzPPOmIkL9p0ymb7iHH1tm_i7hnW8QzlUnFP1EdI1gM1XUwDAuqQJSoEEArfphOT358ASqyNRVOLDLRWEyY_IE_syftrTgs-tCPtoF7sf6h7JbMrlm-UHKwZYQZ6tAylbUP8phuCNUGyUUuWqA25JfJ4iu6Rlfd5CXIE2J9dHUiqHbRZoNQAnebxsyudSatQ7ggTE-Z248ACFkPlXEua9vEPm9ZBxgRXHA | 0 comments | null | null | 2023-07-27 |
994 | 2 | Case Study - Opening up a Finance Club for our University | null | 6 comments | 2014-07-27 | Hi guys, I have been handed a case study where I am opening up a Finance club and my task is to provide some answerMy Task: Suppose, I am the founder of a Finance Club and I have to start everything from scratch. I have the freedom to do whatever I want to do but I have to keep in mind that the future of the club depends on me. So, here are the list of things that I have to work on:Logo (already done)TaglineEventsMember Development ProgramsClub room activitiesVisionNow, I have partially done some of the stuff required but most of my answers overlaps with my friend who where given the same task.Would really love if some of you guys can give some ideas on it. What is the purpose of a Finance club, the types of events and Member development program I can initiate, club room activities and the feasible future vision of the club that I can have.I know this might not be the right place for my queries, but it will mean a whole lot to me, If you can help me with my study. Thank you | 2023-07-27 |
995 | 23 | What are the best books for practicing math and logical tests? | null | 17 comments | 2014-07-27 | I passed the first round of interviews for an investment bank and I have to take a math and logical test in January. I was thinking of getting a SHL book and practicing for 30 minutes everyday. Any suggestions on books? Or other study habits?Thank-you | 2023-07-27 |
996 | 0 | How do you calculate notional value for an option on a future contract? | null | 2 comments | 2014-07-27 | I.e. buy a put on ESZ4 (sp500 emini). The underlying contract size for the future is 50 and according to the CME website, the contract size for the option is 1. Does this mean the notional is simply strike*50?Edit: the notional is going to be the strike price * contract size of underlier * option contract (in most cases will be 1). | 2023-07-27 |
997 | 0 | Public access to a Bloomberg Terminal? NYC/Long Island | null | 5 comments | 2014-07-27 | I was wondering if anyone knew of a place where I can get access to a Bloomberg Terminal. I recently just accepted a position at Bloomberg and would like to better familiarize myself with the terminal before my start date. I am aware that the NYPL has a terminal for use by the public but I am looking for something on Long Island. Maybe a university or a town library that allows outsiders to log on for free? Anything helps guys, THANKS! | 2023-07-27 |
998 | 15 | Do you have any co-workers with facial hair and does your firm have a policy (implicit or explicit) against it? | null | 25 comments | 2014-07-27 | Do you have any co-workers with facial hair and does your firm have a policy (implicit or explicit) against it?I see there has been a string of successful serious post over the last day or so and I thought I'd help r/finance hit the one-lighthearted-post quota.I'm a student at UVA McIntire and of all the finance industry professionals that I've met at career information sessions, only three have had facial hair: an MD at Goldman, a Partner at Perella Weinberg, and a Senior VP at BB&T. My perception is that facial hair is actually very uncommon at the analyst/associate level and becomes slightly more prevalent as seniority increases.Do you think this is a fair perception of professionals in ibanking/sales&trade/research/ect.?Do you have experience that detracts from this?What do you think drives these trends? | 2023-07-27 |
999 | 26 | [Question] Do traders contribute to society? | null | 29 comments | 2014-07-27 | Hi everyone! First of all, please forgive my ignorance. I might poorly choose my words and also my question. I have no background in finance and am asking this out of pure curiosity.The question is in the title and what I mean by that is: almost all 'jobs' contribute to some degree to the creation of a product or service.It seems to me (due to my ignorance) that a trader, spotting trends in markets and moving money around to try and make profit, isn't contributing to any real product/service. Instead he just takes advantage of the financial system to make a living.Maybe I'm wrong in the fact that a trader will fuel a company with money he invests, therefore contributing to that company's product/service?Or maybe all my concepts and definitions are wrong. I'd appreciate some light on the matter if that's an adequate place for such a request. | 2023-07-27 |
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