MSF Question and Answer

I get a ton of emails and answer a ton of posts asking similar questions so I thought I would answer the most common ones I get here and allow others to post their questions so everyone can see them and the subsequent answers. Hope this helps.

Summer Analyst Eligibility

* The SA position is really structured for undergraduate students. The whole reason undergraduates go for a SA position is because they aren't ready to work full time. If you are in a one year masters program is really doesn't make much sense to try for an SA spot when you are eligible for FT analyst recruiting.

Now if you feel that you need internship experience in order to be more competitive then your best bet is to look for an unpaid internship or something off cycle. This will give you FO finance type experience, increase your knowledge and something you can do during the school year thereby not making you ineligible for full time positions.

Does this mean you can't apply for a SA gig? No.


3 Myths About Excellence That I Used to Believe

This week, I want to share with you one of the sources that inspired my quest to deconstruct excellence. It was a fascinating (but very long) report in Sociological Theory that made me realize that the three things I thought I knew about what makes great people who they are were complete myths. This is what I learned:

The Jane Goodall of Excellence

Hamilton College Professor Daniel F. Chambliss spent a year and a half conducting a feat of unprecedented sociological research in the world of swimmers - living with coaches, attending practices, going to team meetings and parties, and interviewing over a hundred national and world class athletes.


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Woman Awarded $18M in Sexual Harassment Suit Against Wall Street Boss

No doubt that the CEO made some pretty terrible decisions, and surely he deserves some punishment for stalking and threats...but $18 million? Probably a small dent for his part, but the lady is set for life.

From ABC news: (Link inside the post)

Woman Gets $18M in Sex Harassment Suit Against Wall Street Boss

A young Swedish woman who sued her former Wall Street executive boss over lurid allegations of sexual conquest, betrayal and stalking was awarded $18 million by a federal jury Monday.

Hanna Bouveng, 25, accused Benjamin Wey in an $850 million lawsuit of using his power as owner of New York Global Group to coerce her into four sexual encounters before firing her after discovering she had a boyfriend.

The jury in federal court in Manhattan awarded her $2 million in compensatory damages plus $16 million in punitive damages on sexual harassment, retaliation and defamation claims. It rejected a claim of assault and battery.


Rewind - Recruiting for IB out of an MSF Degree + Q&A

In case you missed our April 13th webinar entitled Recruiting for IB out of an MSF Degree, have no fear. The full recording of the webinar can be found below (free for only 24 hours and then it goes into our video library). Do you want to a 1 on 1 mentoring session with Kyle? Click below:

SIGN UP WITH KYLE



All rewinds will be available everyday at 8am ET.

And, as always, if you want to sign up to hear about upcoming webinars before they happen, sign up inside the post...


What happened in the stock/bond markets last week (6/22-6/26)?

Stock Market Analysis

The Dow fell 0.38% last week. We also saw similar losses in smaller cap stocks. Overall we had more stocks fall than rise but we still had more new highs than new lows. Six out of 9 sectors fell, with Utility and Basic Material stocks doing the worst. Cyclical and Healthcare stocks held up the best. Healthcare should be no surprise given the Supreme Court's decision upholding subsidies.


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We're excited to announce that we have just created a special discount for our investment banking interview Prep Pack customers.

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This deal is only available to people who purchase or have purchased the IB Prep Pack. New clients also have the option to get the investment banking interview Prep Pack Plus deal by clicking here. Old customers can upgrade by clicking here.

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CRE career path advice to PE analyst

Hi, currently I am a research analyst for a commercial real estate analytics company (real capital analytics, reis inc, costar etc.) I am also finishing up my Certificate in Real Estate Finance and Investment at NYU. Eventually, I would like to be an analyst/ in acquisitions on the buy side at a PE firm and I am looking for some advice on how to get there.


BIG NEWS: 2014 WSO Compensation Report is OUT!

Dear WSO Community,

I'm pleased to announce the release of the 2014 WSO Compensation Report! We had another great year with even MORE entries than last year (over 5,000)! It took many months of hard work and finally, it's here ...and it's still free :-)

Yes, that's right, access to the FULL 155 page 2014 WSO Compensation Report is 100% free. (up from 108 pages last year). This report contains thousands of data points across investment banking, private equity, hedge funds and management consulting.

The report cuts the data numerous ways including division, city, AUM and company type and can help you know if you are getting paid enough. In the 2014 version, we even have data on target vs. non-target schools, race, GPA and major. Where else can you find interesting insights like that?

Or if you are an employer, this report will give you an idea of what range you should be paying your employees.

DOWNLOAD A FREE PREVIEW OF 2013 HERE TO GET AN IDEA OF WHAT IS INCLUDED

Here's how you get access to the full 155 page report:


How I use books to prevent burnout (plus my top 5 from the past year)

Mod Note (Andy): Alistair also has a webinar coming up with us on 7/13 at 7pm, see the event page here.

I am obsessed with books.

I bought 134 books in 2014.

During August and September alone, my credit card has 19 separate transactions for a used book store near my house. (side note: What kind of person buys a new book every 3 days?!)

I spend more time and money buying books than I'm comfortable admitting, but it's worth it. Every now and then I read a book that changes how I see the world, and it reminds me that books are one of the best investments I can make in my life.

But for me the importance of reading goes well beyond just learning: I use books to prevent burnout. Reading is one of the best ways to de-stress and escape the day-to-day insanity of work and life.

Here's why I think reading is important for people in high-stress jobs, and here's my 5 favourite books from the past 12 months.


Winland Electronics a case of hidden value laying in plain sight

It's not often that a value fund piles into a stock with a $5m market cap.  Especially a fund with billions under management, but that's exactly what's happened with Winland Electronics (WELX).  The small company was noted in FRMO's latest quarterly remarks (read here).  FRMO, a part owner of Horizon Kinetics a multi-billion dollar asset manager purchased 15% of the company, a strange acquisition given FRMO's size.  The second largest shareholder after FRMO is another value investor named Thomas Braziel, the manager at B.E. Capital. (note: If you're looking for some interesting reading this interview with Braziel is a must read.)
Between FRMO, Braziel, and Matthew Houk (an associate of FRMO) 41% of the company's shares are spoken for.  

Apparently more than a few FRMO shareholders reached out to Murray Stahl (one of the company's two executives) and asked why a $390m market cap company making a roughly $500k investment, and was it even worth their time?  We know this because Stahl took the time to write about FRMO's Winland Electronics investment in the company's Q3 report.

Demystifying BAAM (Blackstone)

As requested by @MBAGrad2015 in my previous post (about GSO) and several other users who pm-ed me about BAAM, I decided to start another "demystifying" thread - the Blackstone's 2014 Hedge Fund Solutions (BAAM) overview. All is based on few recent presentations that I was able to gather.

Again, I'd like to use this thread as an invite for other monkeys with more valuable info, so please feel free to chime in.

Hope some of you guys find this useful. Don't forget to check the attachments.


How do you guys deal with negative press about finance?

Finance-hate is so common, that almost anything related to the ills of the finance industry passes as news these days, whether or not it makes any sense whatsoever. People are very influenced by the stories they hear. People seem to assume that my peers are Patrick Bateman, Leonardo di Caprio, or some character out of a Michael Lewis novel, but frankly those people are fairly rare in real life. I see very little resemblance between what I do in IBD and these fictitious characters.

I also see very little relationship between what I do and any possibility of harm done to others. I've thought and reflected about it a great deal, and I simply think these people are just plain wrong most of the time. So much of what is said about finance is just so off base that it irks me. People I meet (including my roommates in college) make all sorts of negative, untrue assumptions simply because of what I do for a living.

Examples in the last month: