I miss the 90s/ early 2000's

That was, in my opinion, the GOAT time period for music:
- Incubus
- Staind
- Vertical Horizon
- Linkin Park
- Puddle of Mudd
- Nirvana
- Red Hot Chili Peppers
- Lenny Kravitz
Etc.
Every time I just lay back and listen to any of the above I have an eargasm.

Post your favorite 90's bands and songs!


Is Private Equity Dead?

Andy Kessler, a former Hudge Fund Manager who writes periodically for the WSJ has recently discussed his thoughts on the future of Private Equity. This article discusses how the industry is overflowing with hundreds of firms chasing after the same opportunities such as how will interest rates affect the future of these firms? "Leveraged loans are the lifeblood of private equity," says Mr. Kessler and seeing as most firms borrow the majority of the funds.

Then add the potential of tax reforms to the scenerio that place interest rate deductions on the chopping block and then we lose one major benefit of debt, tax deductions on interest payments, for these firms. In the words of Mr. Kessler, "the interest-tax symmetry is long overdue and makes enough sense that it could end up in future tax reform." He goes on saying that Private equity has actually been hurting the economy and that the future will show that Private Equity will not make it in the end. So how solid is Mr. Kessler's arguement? And are you setting yourself up working towards a job in Private Equity? The answers to those question will unfold in due time so then I will end with his last statement,


The GM Buyback: Beyond the Hysteria!

Here is a script for a movie about the evils of stock buybacks, with the following players. The victim is an well-managed company in a business with significant growth opportunities and profit potential. The company has delivered products that its customers love, while paying its workers top-notch wages & benefits and invested heavily and prudently in its future. The villain is an activist investor, and for added color, let's make him greedy, short term and a speculator. In the story, he forces the  company to redirect money it would have spent on more great investments to buy back stock.

The white knight can be a regulator, the government or a noble investor (make him/her successful, wealthy and socially conscious, i.e., Buffett-like) who rides in and saves the hapless company from the villain and stops the buyback. The story ends happily, with the defeat and humiliation of the activist investor, and the moral  is that stock buybacks are evil (and need to be stopped). As you read some of the over-the-top responses to GM's buyback, such as this one, you would not be alone in thinking that you were reading about the mythical company in the movie. But given GM's history and current standing, do you really want to make it the basis for your case against buybacks?


TRAFIGURA COMMODITY TRADING APPRENTICESHIP

LOCATIONS: Geneva, Switzerland / Houston, Texas, USA

If you have decided not to go to university, you are excited by a career in commodity trading and you are happy to work anywhere in the world, we believe we can offer you an unparalleled opportunity. Even with a couple of years’ work experience, if you are hungry, motivated to achieve and want to work at the forefront of physical trading then Trafigura’s Commodity Trading Apprenticeship could be for you.

Trafigura’s Commodity Trading Apprenticeship can offer you the opportunity to join a particular business function (corporate finance, Deals Desk, Operations, Trade Finance, Mid - Downstream Supply, Warehousing and Logistics) for a year before being fast tracked to take part in our highly competitive graduate programme. Those selected will be offered the chance to start in either Geneva or Houston. With a years’ worth of real world company experience your practical expertise will exceed that of external candidates joining the Trafigura graduate programme with Bachelors and Masters Degrees from some of the world’s top institutions. Simply put, opportunities at the end of the programme are unlimited, whether that ultimately be in trading or management.

Depending on the function you are assigned to, you could play a role in charting the course of vessels carrying up 160,000 tonnes of product, given the responsibility to manage the price risk on cargoes worth over $40 million or even put in charge of financing multiple deals at one time with a combined total worth of over $400 million. There is no shadowing or making tea. From day one you will be a part of the team and expected to contribute as such. You will be supported fully throughout the programme to ensure you learn and progress as quickly as you can.

Please apply online at http://www.trafigura.com/apprenticeship


"RBS Is Going To Go Ahead And Take Those First Year Job Offers Back"

Ouch.... Will this happen at any other banks or just RBS? Anyone personally affected by this? Is RBS a sinking ship?

From NYT Dealbook:

Quote:
“Hearing from incoming summer analysts (now soon to be full-time hires) that their offers were rescinded and they were all given a 10k severance. This is the case for all incoming analysts in IB at RBS.


Small PE Firm or BB IBD

What is better? I want to end up in PE, but don't know if starting with a PE firm with under £250 m AUM is too small to start off, or if its better to have a BB brand name in a couple years time...


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

REMEMBER, ALL PREVIOUS CUSTOMERS GET THIS UPDATED VERSION FOR FREE! (Info inside the post...)


Get Your Resume Reviewed by Industry Pros

Recruiting season is here now...so make sure you're ready for it with a Finance Resume and/or Cover Letter Review from one of our expert resume reviewers. Need it done in a hurry? Expedited Service is available (72 hours or less*).

If you're not serious about breaking into Wall Street, you should honestly not waste your time reading any further. If you are serious, then you probably already know how competitive it is to land a job in finance and that every part of your application needs to shine. This starts with your resume.

The WSO Finance Resume Review service is an investment that will help you make that important first step to land the most coveted jobs on Wall Street. Our track record is flawless and we promise to give you a tailored experience in order to help you craft the best possible application.


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,
Patrick

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!


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.


AMA: HY/Distressed Analyst at NYC based Mid-Sized Credit Hedge Fund

Hey all, long time lurker first time poster. Just wanted to share my background and answer questions for those interested.

Background: 7 years of investment research experience prior to b-school, mostly in equities (some credit) with half of that on the buyside at a hedge fund; sectors covered included technology, specialty finance, insurance and CMBS. After b-school (2013) have been in a HY/Distressed analyst role covering the tech and telecom sectors at a credit hedge fund. Education wise, have a double major from a top tier/semi-target, MBA from a top 10 and the CFA designation.

Given that its recruiting season, I am happy to share my thoughts and perspectives on the process including: 1) types of candidates, 2) networking, 3) interviewing, etc. As well as my experiences thus far and any other questions, etc. that I can hopefully shed some light on.


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)...