Thrill-seeking activities under interests

November 2, 2012, 10:00 pm

≫ Next: WSO Conference 2013: Panel Topic Suggestions

How do employers view these, and how can one write these under interests?

Specifically for myself, I haven't "specialized" in anything but always look for opportunities to get my heart pumping e.g. skydiving, hang gliding, para gliding, shark cage diving (did it 2 weeks ago), bungee jumping, white water rafting etc..

I do ski, for example, but not often enough to say it's a hobby, but I am very good at it. Is there any encompassing word or phrasing I could use for the above? Because saying I like to skydive, for example, is not true since I've only done it once.

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WSO Conference 2013: Panel Topic Suggestions

November 3, 2012, 12:01 pm

≫ Next: A tragic hero of financial engineering

≪ Previous: Thrill-seeking activities under interests

We are in the midst of recruiting talented panelists and speakers for WSO Con 2013. With that in mind, I am hoping all of you can send us ideas of Panel Topics and/or themes you'd like to see this year as well as ideas for a Keynote Speaker. The structure of the conference will now include 1 keynote, 2 workshops and 3 panels in the following order:

[keynote], lunch, [panel 1], [workshop 1: Resume Best Practices], [panel 2], [workshop 2: Interview Best Practices], [panel 3], [closing remarks]...

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A tragic hero of financial engineering

November 3, 2012, 4:00 pm

≫ Next: Nobody wants to do sales in Sales & Trading?

≪ Previous: WSO Conference 2013: Panel Topic Suggestions

Most of you here are familiar with the Black-Scholes formula since it’s imbued in every possible textbook of corporate finance 101 under the sections of option pricing. The infamous black-scholes-merton formula was created by Nobel laureates (now unfortunately also blamed for the credit crunch) who used advanced calculus to build a closed form solutions on how to price options which are widely traded on the CBOE today. But most of you don’t know that the science behind options was created over 70 years before it came to practice by a man name Bachelier.

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Nobody wants to do sales in Sales & Trading?

November 3, 2012, 8:30 pm

≫ Next: Who would get hired first?

≪ Previous: A tragic hero of financial engineering

Recently a BB came to my school to recruit. All the students there said they wanted to go into trading (including me), and none of them said they wanted to go into sales. Then this sales guy from the BB started presenting and I must say I was very impressed and I might have persuaded by him to be more open to sales. Let me tell you why.

First off, he presented very well, which you should expect of a sales man but he was really smooth and good. When the traders presented, they were like giving pauses in the middle, like "urm", as they recollect their thoughts. Not that I expect traders to be very good in presentations because their main job is trading the markets, but I was more impressed with the sales man here in this instance.

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Who would get hired first?

November 3, 2012, 10:00 pm

≫ Next: doctor switching to finance

≪ Previous: Nobody wants to do sales in Sales & Trading?

Let's say you go to a good target school, and GS, JPM, MS or any bank is recruiting students.

There are 2 candidates in the running for the final spot at a summer internship. Student 1 is a math/physics double major with a 3.2-3.3 GPA.
Student 2 is an English major and has 3.7-3.8 GPA.

Both of these candidates are virtually identical in leadership quality, prior work experience, and gave similar-quality interviews.

Who would get hired?

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doctor switching to finance

November 4, 2012, 1:30 am

≫ Next: Priority Dilution: Don’t sabotage yourself!

≪ Previous: Who would get hired first?

I am a 39 yo physician who no longer wants to practice. I really want to go into finance. I would like to go into IB, PE, HF. VC. Management consulting is also an option that I considered. I had an interview wIth McKinsey but got dinged. I tried to break in but it seems difficult BC of my nontraditional background. Some were interested bc of my medical background but I lacked finance experience. I am thinking about going to b-school but I heard it doesn't make sense unless it's a top b-school. Is it impossible because I'm older and have no finance experience? Can I overcome that by attending any decent b-school? I was hoping going to any b-school would give my switching some credibility. Any advice would be appreciated.

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Priority Dilution: Don’t sabotage yourself!

November 4, 2012, 7:30 am

≫ Next: Portfolio Theory Part I: The Financial Strategy of Yesteryear

≪ Previous: doctor switching to finance

Priority dilution causes you to sabotage your own work and goals by focusing on less important tasks instead of keeping your full attention to all parts of the actual assignment. Surprisingly, overachievers are affected in particular and often have difficulties performing group work or team projects.

In grad school one of my fellow class mates called me out during a team meeting, yelling at me: “Dude, stop being such a perfectionist and submit the damn paper, we already past the deadline for the team project”. In fact we already finished the paper two days ago, but I spend the whole day making adjustments.

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Portfolio Theory Part I: The Financial Strategy of Yesteryear

November 4, 2012, 12:30 pm

≫ Next: The Harsh Truth about Why You May Not Get Promoted!

≪ Previous: Priority Dilution: Don’t sabotage yourself!

Portfolio Theory is a construct of Harry M. Markowitz from the University of Chicago that economically models a risk-return adjusted optimal portfolio based upon two primary factors: risk and correlation. Sounds like a beautiful thing, right? WRONG! Textbook models are just that, textbook and are not enirely relevant outside of academe. They serve as restricted versions of actual market processes and I will argue against four of Markowitz's flawed assumptions. Also, despite quantum leaps in practical market theory over the last 60 years, some in the financial industry still apply this dusty-old model when managing their client’s money! Why, I can only suspect but read on to find out where the problem starts...

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The Harsh Truth about Why You May Not Get Promoted!

November 4, 2012, 2:30 pm

≫ Next: Forget About Student Loans; What About Parents?

≪ Previous: Portfolio Theory Part I: The Financial Strategy of Yesteryear

When you join a large organization, you tend to hear HR buzz words like: career development, career progression, succession planning, growth opportunities, etc. Essentially, you are being told that your organization takes a tremendous interest in your career development. In many cases, that is indeed the case (but not always…).

In part, promotions depend on your performance, and fit within the company. However, promotions also depend on your boss and HR’s attitude towards helping you move up in the organization!

Let us step back and consider what makes for an ideal manager: generate higher revenues while keeping costs down. That’s how you maximize shareholder returns.
Now ask yourself: if a manager can extract the same output (i.e. financial analysis, or excel modeling) from an analyst who makes $100k, why would he be incented to promote that analyst to associate and end up paying $200k for the same excel file??? If the manager’s goal is to keep costs down, then he is better off not promoting the analyst, and obtaining the same output for less.

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Forget About Student Loans; What About Parents?

November 4, 2012, 4:00 pm

≫ Next: Thank You To Our Sponsors

≪ Previous: The Harsh Truth about Why You May Not Get Promoted!

I'm not the typical college student: when I graduate next May, I will have zero debt. I grew up in New York City, went through the usual "gifted" and "honors" programs that most of our readers are familiar with, and was fortunate enough to obtain a full scholarship for undergrad. When I apply to graduate school, I'll be taking on student loans for the first time. Despite this, my main concern isn't how I'll deal with the massive six-figure debt; rather, it's how I'll repay my parents back.

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Thank You To Our Sponsors

November 4, 2012, 8:00 pm

≫ Next: The top 15 Masters in Finance courses for breaking into investment banking in the UK

≪ Previous: Forget About Student Loans; What About Parents?

We'd like to thank the Wall Street Oasis sponsors that help keep the community free for everyone and we encourage all of you to check them out below!

Bloomberg Institute - The Bloomberg Assesment Test
You are considering a career in finance. But how can you show employers what you have to offer? The Bloomberg Assessment Test is your opportunity to showcase your knowledge and skills to thousands of employers.

Veritas GMAT Prep - The Leader in GMAT Prep (10% Discount for WSO Users)

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The top 15 Masters in Finance courses for breaking into investment banking in the UK

November 5, 2012, 1:00 am

≫ Next: LSE Investment Banking Conference (Nov 14 application deadline)

≪ Previous: Thank You To Our Sponsors

I don't know if this has been posted before, but I find it very interesting and should help anyone looking for the best/right program to get a FO job at an investment bank (in the UK/Europe).

Full detail.

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LSE Investment Banking Conference (Nov 14 application deadline)

November 5, 2012, 9:00 am

≫ Next: London WSO Meetup! Nov 7, 7PM

≪ Previous: The top 15 Masters in Finance courses for breaking into investment banking in the UK

The LSE Investment Banking Conference (IBC) is the largest student-led conference on Investment Banking in EMEA. The IBC, organized by students from the LSE, will take place on the 1st December in London. Confirmed speakers for this year’s Conference comprehensively span all leading financial institutions:

1) Richard Murley, Executive Vice Chairman and Head of Investment Banking, Rothschild
2) Marisa Drew, Co-Head of Global Markets Solutions Group, Credit Suisse
3) Cyrus Ardalan, Vice Chairman, Barclay Capital
4) Didier Valet, CEO, Societe Generale Corporate & Investment Banking
5) Callum Mitchell-Thomson, Head of Corporate Finance Group, JP Morgan
6) Matthew Lindsey-Clark, COO, FIG Team, Evercore Partners
7) China Onyemelukwe, Managing Director, Goldman Sachs

When:

December 1, 2012 (All day)

Event type:

Other Conference

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London WSO Meetup! Nov 7, 7PM

November 5, 2012, 10:00 am

≫ Next: How to Stop Illegal Downloads

≪ Previous: LSE Investment Banking Conference (Nov 14 application deadline)

London blokes - finally an official WSO London Meetup: Wednesday Nov 7th, 7PM, at Andaz Hotel Bar (40 Liverpool Street, London EC2M 7QN)

Host / London Social Chair: Michal (EuroGorilla)

Want to host a WSO meetup in your city? See this page for more details.

When:

November 7, 2012 - 4:00pm - 6:00pm

Event type:

WSO Meetup

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How to Stop Illegal Downloads

November 5, 2012, 11:00 am

≫ Next: Be a WSO Social Chair & Help Host WSO Meetups in Your City

≪ Previous: London WSO Meetup! Nov 7, 7PM

Three days after publication of my new book , The (Honest) Truth About Dishonesty, I was able to find electronic copies on a few websites that specialize in illegal content. These were high quality versions of the book, including the images of the cover, the references, and—my favorite part—the copyright notice.

I was flattered. On one of the sites, the book had been very popular, downloaded over 20,000 times in just a short period of time before my publisher shut it down.

I was also amused. The irony of illegally downloading a book on dishonesty was painfully obvious.

But mainly I was curious, as is my wont. As someone who has been studying dishonesty for many years, what could I learn from the theft of my own book?

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Be a WSO Social Chair & Help Host WSO Meetups in Your City

November 5, 2012, 1:45 pm

≫ Next: Health & Fitness as an Analyst

≪ Previous: How to Stop Illegal Downloads

We are looking for 1-2 enthusiastic WSO members in 12+ cities across the world to be social chairs to help organize WSO meetups once per month.

Here are the 12 cities* we would like to have social chairs at:

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Health & Fitness as an Analyst

November 5, 2012, 3:00 pm

≫ Next: WSO is looking for interviews...

≪ Previous: Be a WSO Social Chair & Help Host WSO Meetups in Your City

As an analyst in investment banking or in other similar gigs, it can be difficult to adjust to the new lifestyle. What I found in college and what I’m seeing now with work is that when demands become too great the first thing that goes is the healthy lifestyle. Whether it’s just going with pizza (even if it’s thin multi-grain crust with vegetables) because you’re getting laid out on some deal or skipping your workout for the fourth night in a row because you’re so damn tired, it’s easy to fall into an unhealthy lifestyle.

My experience so far hasn’t been too bad as I’ve taken steps to try and prevent getting into the unhealthy rut rather than being reactive and trying to turn it around. What have your experiences been like? How do you guys stay healthy or, if you’ve fallen into the rut, how did you get there and how are you hoping to get back?

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WSO is looking for interviews...

November 5, 2012, 4:30 pm

≫ Next: Office Beautification Process

≪ Previous: Health & Fitness as an Analyst

Lately we've been doing more interviews, both with our members and also with people that have been referred to me (bosses, co-workers, friends, etc.) These interviews have been great content for the site and also very informative for the community, and we'd love to keep them going.

If you know someone who has an interesting story and would make for a great interview, let me know.

Email me at andy@wallstreetoasis.com and I will connect the person with one of our very talented contributing authors.

Thanks!

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Office Beautification Process

November 5, 2012, 5:00 pm

≫ Next: The 10 Silicon Valley Companies you wished you worked for (or started)

≪ Previous: WSO is looking for interviews...

I once worked for a firm where the culture was borderline immoral. Between the everyday white lies to clients and an unusually heavy focus on production quotas, everything about the firm was off. Basically, I would rather be repeatedly kicked in the nuts than attempt to start my career there.

But every morning, I would quell my alarm and think of the one aspect of work that kept me clocking in on time: my downright beautiful coworkers.

The firm had a variety of women similar to PornHub’s categories section, it was truly a fantasy arrangement of women. I soon realized my sole motivation for work was a common ground for all my male colleagues. It then struck me- was hiring beautiful women planned by the firm’s overlords to keep revenue-producing employees engaged?

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The 10 Silicon Valley Companies you wished you worked for (or started)

November 5, 2012, 6:30 pm

≫ Next: Personal Finances: How much are you letting slip through the cracks?

≪ Previous: Office Beautification Process

Good work, Markus Wohlsen (Wired Mag), no wonder this list was tweeted 140+ times in the first two hours it got published.

I took it upon myself to reproduce it because, let's face, you don't make lots of money working on Wall Street (I believe the average bonus in S&T expected this year is $137K -and folks, that's for people with several years in the business, not for graduates)...it's more like you make lots of money for other people.

Compare bankers earnings to those of engineers and entrepreneurs working in Silicon Valley and your mouth drops. (Anybody out there cashing out their FB stock this month ? Will you please let me know how many millions you're dropping on your mansion(s) and how many around-the-world trip(s) you're doing)

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