In This Business, You Need A Hobby—I’m A DJ

Mod Note (Andy): WSO readers qualify for a $100 discount to Jared's Daily Dirtnap daily market newsletter...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap.

Things are okay now, but I got shithoused in the LEH bankruptcy. My stock went to zero, I had no income, and my portfolio got cut in half. Those were dark days.

I vowed two things:
1) To never put myself in a position where I could lose it all again, and
2) To have some fun for a change, for crying out loud.

Seriously. I had just spent the last nine years trading and didn't do anything fun. I went about 3-4 years between vacations once, without even taking a day off. When I got home at night, I would get right on the Bloomberg terminal. On the weekends, I read financial books.

All that dedication has paid off, but it was a crummy way to live.


Apple Event Sept. 9, Thoughts?

Apple announced today that they will hold their next major event on September 9. The next iPhone will most likely be released, and Apple may also have a few more announcements to make. The iPhone 6S is next in line, and if Apple follows its release trend, it will not have any design changes but only minor hardware changes.

Given the recent swings in Apple's share price, do you think this product release will bring it back up? Is there anything you think Apple MUST do to ensure future growth? How important is it to foster growth in China given recent problems in the region? Any other opinions feel free to share!


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Why YOU Aren't Converting Your Interview - DCF Example (No Math)

Inspired by the "Why YOU Aren't Getting Offers" repost for #TBT.

I just participated in a series of interviews and I was sincerely disappointed. I was asked to cover the technical portion and no one could walk me through a DCF well. While I am going to talk to the people who referred these candidates (and also make note of the quality of their referrals), it occurred to me that often candidates don't realize or get clear feedback on why they didn't move on in the process (interviewer has no upside, potential legal nightmare, against policy etc.). Yes, there are always "better candidates", but there are some very common (and highly fixable) problems I see way too frequently. Perhaps that's the frustrating part, because I feel like these are things that are very easy to prepare for.

It's not just about getting it right, but presenting it well.

Let's use an example of DCF because it is standard / plain vanilla / middle of the fairway. You will get this question for sure at some point. You should know this cold. It should be polished. There is no "but what if I sound too canned" debate. I have never heard anyone sound "too canned" on something like this (or anything for that matter). I HAVE dinged people for just regurgitating when it is clear they don't really understand what's happening.


Rewind - MSF to Banking Transition + Q&A – 8am ET, 8/28/2015

In case you missed our July 28th webinar entitled MSF to Banking Transition, have no fear. The full recording of the webinar will be available for free on the WSO homepage on this date: (free for only 24 hours and then it goes into our Video Library). Do you want to a 1 on 1 mentoring session with Paul? Click below:

SIGN UP WITH PAUL

To see the original event page with a description of the webinar and read more information about the presenter click here.



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...

When: 
August 28, 2015 - 8:00am to August 29, 2015 - 8:00am
Event type: 
WSO Webinar

2016 Full-time IB Recruiting Timeline Megathread

It's that time of year again, folks. Time to polish those resumes, fire up the LinkedIn and WSO search functions, and bug the hell out of the career advisers at your schools. It's recruiting time!

We are all looking for information on timelines and deadlines for every bank possible. If you or your school has information on important upcoming dates, please, please, please share them with us!

I'll collect all the information I can here in this first post, and I'll update it from info in the body of the thread. If you have information and you don't want to post for whatever reason, PM me and I'll add it.

I realize some of this will be speculation, so if you see something here you know not to be true, let me know.

Applications / Interviews / Superdays


WSO Weekly Wrap-Up (8/22-8/28)

In case you missed them, here's some of last week's most popular topics:

Random Musing on Mr. Market
Post By @Mr. Pink Money

I work 2 weeks per year and worry during the other 50 weeks. What you do/recommend during meaningful volatility will have a bigger impact on your career and credibility than what is done during periods of stability

Whats everyone's obsession with finding a job with purpose or fun?

I mean to want a job with purpose implies you think your life matters compared to everyone else who is simply a statistic and that you have to do some grandstanding thing with your life.

Then with the whole fun issue, I don't see why work has to be super fun. Have work be work and use the quality of life gained from that work to do something you enjoy.

Am I wrong in my line of thinking?


WSO NYC Commercial Real Estate Happy Hour/Meet Up

Happy hour is geared towards CRE professionals however all are welcome.

Date/Time: Thursday, September 3rd @ 7PM

Location: Galway Hooker - 7 E 36th Street, between 5th and Madison

How to find the group: Mention "WSO" or "WallStreetOasis" at the door and they'll direct you to where we are located.

When: 
September 3, 2015 - 7:00pm
Event type: 
WSO Happy Hour

Beyond value traps: The value graveyard

He couldn't stop talking about the great deal he got on his boat. My friend purchased his boat over the internet from what he considered a sap Florida. The boat was supposedly in mint condition, everything was like new, it ran well. We looked at the same batch of pictures over and over as we listened to his savviness in buying cheap online. Since he didn't live in Florida he paid someone to tow the boat to Pennsylvania. It was there the problems started.

On the way back the boat trailer developed a problem with the wheel bearings. My friend explained it away as something simple that happens to trailers that sit a lot. He had a great reason too, in Florida boats are always in the water so the trailers rarely are used. Once the boat was back in Pennsylvania the list of repairs began to grow. That mint condition vinyl was a bit sun faded, it just needed to be replaced. Then there were some issues with the engine that required an overhaul. Some patches and paint and a number of other things were needed before the boat was sea-worthy. Suddenly this incredible deal my friend got on his boat wasn't such a great deal. He put so much money into the boat that if you added it all up it's likely he overpaid.

Investments can be like my friend's boat. A company looks great on the surface and even cheap, but after a little while, the problems start to crop up. A bit of faded paint here, an old engine there, minor things, but all together they become a disaster.


WSO Investment Banking Resume Template for College Students Released to the Public!

Big Announcement: WSO Resume Template is Out in the Wild!:

Mod Note (Andy): If you're looking for our resume for experienced IB professionals or a private equity resume template, click here..

For those of you looking to make sure your CV format is clean and make sure that your investment banking resume is polished, we have a great sample resume you can now use free of charge (attached to this post below). We know how competitive internship applications and summer analyst positions are nowadays, so we're hoping this gives you an even bigger edge in recruiting.

After seeing members consistently reference other resume templates in the public resume review forum (that are good but inferior in our opinion), we have decided to release the WSO resume template for free to the public. This is the same CV template we use in all of our the WSO resume reviews with experienced finance professionals.


AMA Boutique Investment Banking Analyst

I'm currently an analyst at an industry focused boutique located in the NY area(throwaway account to protect identity).

At the risk of being screamed at for having no prestige, I'd like to answer people's questions on life at a leading boutique covering a specific industry. There is a ton of info on this site regarding BBs but not a lot covering boutiques. I know when I was researching the industry I had questions about life at boutiques so I figured I'd give back a little and answer anyone's questions!


MSF Class of 2017

With the MSF recruiting cycle quickly approaching, I thought it would be helpful to create an updated MSF thread for everyone applying to the 2016-2017 MSF cycle. Feel free to post questions for this years upcoming applications here. I will answer what I can. Good luck everyone!