Welcome to the New Wall Street Oasis!

After many months and many hours toiling away, we are finally here, a new and improved WSO. Here are a few of the benefits you should enjoy:

1. Fully adaptive theme so that the site works great no matter what device you are on (smart phone, tablet, desktop)

2. Stronger server to speed up pageloads

3. Voting scores on content is now broken out so you can see # of Silver Bananas and # of Monkey Shits that hit each piece of content (not an aggregate score like before)...

Illiquidity and Bubbles in Private Share Markets: Testing Mark Cuban's thesis!

It looks like Alibaba is investing $200 million in Snapchat, translating (at least according to deal watchers) into a value of $15 billion for Snapchat,  a mind-boggling number for a company that has been struggling to find ways to convert its popularity with some users (like my daughter) into revenues. While we can debate whether extrapolating from a small VC investment to a total value for a company make sense, there are two trends that are incontestable. The first is that estimated values have been climbing at exponential rates for companies like Uber, Airbnb and Snapchat. In venture capital lingo, the number of unicorns is climbing to the point where the name (which suggests unique or unusual) no longer fits. The second is that these companies seem to be in no hurry to go public, leaving the trading in the private sharemarket space. These rising valuations in private markets led Mark Cuban to declare last week that this "tech bubble" was worse (and will end much more badly) than the last one (with dot-com stocks).

In the article, Cuban makes four assertions: (1) There is a tech bubble; (2) A large portion of the tech bubble is in the private share market which is less liquid than the public markets; (3) The bubble will be larger and burst more violently because of the absence of liquidity; and (4) This bubble is worse than the dot-com bubble, though it not clear on what dimension and from whose perspective. In his trademark fashion, Cuban ends his article with a provocative questions,  "If stock in a company is worth what somebody will pay for it, what is the stock of a company worth when there is no place to sell it ?" I like Mark Cuban but I think that he is wrong on all four counts.

My not-so-secrets to success

Mod note (Andy): Throwback Thursday, this post originally went up on 3/2/12.

Wall Street Oasis SEO Interns Needed NOW

Wall Street Oasis is looking for several hard working individuals to join our intern team to help with online-marketing tasks, specifically Search Engine Optimization (SEO) and link-building.

See inside the post for more info >>>

IB INTERVIEW ALERT: NEW 2014 Version of WSO Investment Banking Prep Pack Released!

Another 100+ Questions Added...Now Over 500+:

We've sifted through 2 THOUSAND+ more questions submitted to the WSO Company Database this past year to make the IB Prep Pack even more killer. We've picked out another 100 questions based on new trends to bring the grand total to a whopping 500+ questions (nothing beats that).

The beauty of how we structure the IB Prep Pack is that both the technical and fit guides walk you through the most common beginner, intermediate and advanced questions while also giving you great sample answers. On top of that, we now also provide you with a MASSIVE appendix with the following banks below that allows you to see the type of interview questions being asked at various levels AT SPECIFIC FIRMS.

No other guide gives you a great foundation AND great company specific insight, so don't miss out before we bump the price!

Get the NEW IB Prep Pack Today


Hit Rock Bottom

Long time lurker, but first time poster here looking for advice. So anyways, I graduated from a non-target, but very well respected school last year with a finance degree. Despite having a 3.87, two boutique PE internships (no big names), and an internship at a M&A advisory firm (again no big name), I struck out for IB recruiting. In all honesty, my failure was probably attributable to my abysmal networking efforts.

Fearing unemployment, I took a job as a "financial representative" at a life insurance firm, and by representative I mean a commission based salesmen. Now before anyone gives me too much shit, I was desperate for cash at the time and really had no other options. Now I have been here an entire year, and I can assure you that this job sucks ass. I drive around in my POS rusty ass Honda Civic most of the day trying to "source clients". I am constantly pressured by my retarded manager to push the company's worthless products on my friends and family. One time I caved and tried to sell some of the shit to my group of friends, which almost caused me to be kicked out of the group; the whole thing was f*cking embarrassing.

Learn How to Decode Body Language from an FBI Guru

This is the next book review in a series of installments that will be coming from DeconstructingExcellence.com. See my other book summaries on WSO here. If you find my summaries to be useful, sign up at the website here to make sure you don't miss any.

Let me know in the comments below if you have any comments, questions, or suggestions for books you'd like to see summarized.


Critique my retirement portfolio - I'm 27 and want to live life

Hi, I'm 27 and have made about $2 million dollars (after tax). I would like to quit my current job and take a break to travel the world and figure out what I want to be when I grow up. I want to do this living only on the dividend income and not touch the principle.

I was wondering if you guys could critique this portfolio. When I buy this portfolio I intend on mentally starting my life from scratch as I have no family or responsibilities. By this I'm saying that my risk tolerance is huge, I will basically pretend as if I'm starting my financial life from scratch, I will forget about all the money I made and the dividend income is just a bonus to fund my lifestyle.

Annual income will be about 50k a year plus principle increase. If the market crashes, and dividends are slashed to 25k a year, I'll figure out a way to ride it out. (get a job, bum it out, freelance, etc). The current set up is about a million in individual stocks diversified via sector, and another million in ETFs, covering various sectors and geographic locations.

What do you guys think?

Private Equity Interview Prep Pack Version 2.0 is Out!

Ready to tackle the toughest private equity interview questions? Recruiting season is right around the corner and just in time we've released version 2.0 of our popular PE interview Prep Pack.

This new version includes:
- 9 LBO Modeling Tests with VIDEO solutions (15+ hours of content)
- 30+ additional videos integrated throughout the guide
- 5+ webinars and counting from actual PE professionals...

+ much much more...

Learn More Here

I am super pumped about version 2.0 since I think we really raised the bar with all the extra video content and video solutions to the 9 LBO modeling tests....and we're not done yet. We're already working on version 3.0 which as always, will be a free upgrade to those that get in now!

Good Luck,

ps - for those of you that have already purchased version 1.0, please e-mail [email protected] your receipt and she'll get you version 2.0 for free within 24 hours!

"Billions" - a new series about hedge funds is coming to Showtime in 2016

I just saw this article posted on Business Insider. Showtime will be airing a series written by Brian Koppelman, David Levien, and Andrew Ross Sorkin. The cast seems strong based on the mention of Giamatti, who likely won't be drinking any f%cking merlot, and Damian Lewis, the guy from Homeland that played Brody.

My favorite part of the short teaser article is where it mentions Lewis was studying up for the role when spotted with a copy of "Fooling Some of the People All of the Time." Nice choice but he might want to visit WSO for a few more reading recs as there are quite a few lists in the forums here.

What do you all think? Another show to hate the financial industry or is there a legitimate chance this will actually shed some light on an industry so few know much of anything about? I'm definitely bookmarking the pilot date once it's announced.

2015 BB IBD Analyst Bonus

What are the expected bonuses for 1st, 2nd and 3rd year analysts this year?