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6 Free Financial Modeling Lessons...and More.

Enter your e-mail below to get our new Free Modeling Tutorials ($200+ Value).

Pricing Power of the TI-83 Plus

tt1254
      HF
 
 
(Orangutan, 325
 
Points)
 on 6/17/13 at 10:30pm
TI-83Plus

For many of us in United States, the TI-83 Plus is the quintessential (pre-college) calculator. It was required for many classes (e.g. AP Calculus) and the $100+ price tag 10+ years ago did not do wonders for the wallet. Still, the multi-line interface, matrix operation capabilities and games such as snake made it a versatile instrument pre-iphone. 

Yet, as an electronic system in a highly competitive field, why is the same TI-83 Plus still almost as pricey as a decade ago?? Keep in mind that with the same money, one can buy a 4th gen ipod touch with a Color screen, gigabytes of ram and streaming video+wifi and that the same smartphones a year from now are probably worth far less (try selling the older motorola razr's now). This extends beyond phones to vcrs (remember those?), stereos etc.

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How WSO has enhanced my IB/PE career

CompBanker
      PE
 
 
(Almost Human, 8,726
 
Points)
 on 6/17/13 at 7:00pm
wso black shirt.png

Background
I randomly discovered WSO nearly seven years ago just weeks after I secured a FT MM IB position. The website was extremely nascent at the time with only a few thousand registered users. The majority of the users were college students with only a handful of people actually working in investment banking. Like many new users today, I became engrossed in learning as much as I could about banking and spent a tremendous time reading everything on the site.

Throughout my two banking years, I did my best to share my experiences with the community. As one of the most senior members on the site (as an analyst, no less), there were relatively few people who could answer my questions about PE or assist me in building my career. At the time, I felt as though I wasn't getting anything out of the site despite putting a lot of effort in.

Fast forward to my first PE job and I was finally in a position to really mentor people looking to break into banking and PE. I started getting a lot of inquiries from not only college kids, but bankers as well. Luckily PE isn't as taxing hours-wise and I had the time to email/talk/meet with folks and do my best to help them out. I still hadn't seen any tangible benefit from my now 1,000+ hours on WSO, but at least I was having fun.

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New WSO Reply & Comment Structure / System

WallStreetOasis.com
      EN
 
 
(Human, 12,188
 
Points)
 on 6/17/13 at 5:05pm
reply-tab.jpg

Ok, the next iteration in our attempt to improve the WSO UI is here.

We have now made it so when you are replying to a comment, the comment box appear immediately below the comment you are replying to. Additionally, after you post a reply to a comment, your comment will have a small tab in the upper left corner that says "In reply to [username]" so that people know what comment you are replying to.

Based on user feedback, we kept the chronological order of the comments and did not use any indentation. Another cool feature we will bring live soon is making that small reply tab actually slides up to reveal what you are replying to, instead of linking / jumping you back up the page.

In other words,

1. No new page when you are reply

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Last minute Sales/Trading Q&A for interns about to start

derivstrading
      ST
 
 
(King Kong, 1,367
 
Points)
 on 6/17/13 at 3:33pm
q-and-a.jpg

So since most interns are about to start their summer programs or are in the first couple of weeks, I thought I would open a forum for anyone to ask their any questions/worries they might have. I can only reply in the context of trading/sales internships but i'm sure others can chime in with their bits of knowledge.

Do not underestimate the value of a graduate offer, there aren't many to go around and there are even fewer for non interns.

  • 9
     

Wolf of Wall Street Trailer Drops

Edmundo Braverman
      ST
 
 
(Human, 14,692
 
Points)
 on 6/17/13 at 12:38pm

Here you go:

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WSO Conference 2013: Reason #11 To Join Us

AndyLouis
     
 
 
(Almost Human, 6,090
 
Points)
 on 6/17/13 at 10:30am
pearl.png

There are 11 days remaining until the conference (June 29th) and each day we'll be listing off another reason for why you should join us at the conference.

Reason #11:Joshua Pearl (co-author of Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions) will also be in attendance. He will be sitting on panel #2 “Resume and Interview Best Practices”.

Bio: Joshua Pearl is an investment analyst at Brahman Capital Corp. Previously, he structured and executed leveraged loan and high yield bond financings, as well as leveraged buyouts and restructurings as a Director at UBS Investment Bank in Leveraged Finance. Prior to UBS, he worked at Moelis & Company and Deutsche Bank.


Grab One of the Last Discounted Tickets Today (40% Off!)

See inside for more reasons...

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Probably the Worst Idea in Human History

Edmundo Braverman
      ST
 
 
(Human, 14,692
 
Points)
 on 6/17/13 at 8:17am
Paul-The-Movie_320.jpg

I thought I'd take a break from finance related stuff today to give you guys the heads up that you should get your affairs in order because the human race doesn't have much time left in existence. As a species, we've had some really bad ideas, but I'm pretty sure this one's the one that's gonna do us all in.

Before I get into what's about to happen, let's cover some basic science/math real quick. The universe is estimated to be about 13.77 billion years old. Earth is around 4.5 billion years old, and life emerged on Earth about 3.8 billion years ago. NASA estimates that there are 100 billion planets in our galaxy alone, 10 billion of which share Earth-like characteristics. I've heard the number of planets in the known universe to be estimated at a billion billion.

So from a strictly mathematical viewpoint, some form of intelligent extraterrestrial life somewhere in the universe is a near certainty. Given a long enough timeline, contact between us and some form of alien life is also highly probable. And whatever life we may encounter could conceivably have about a 10 billion year head start on the evolutionary race track and be quite a bit more advanced than us shaved apes. So it would behoove us as a species not to piss them off.

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IBD pay ... really that great?

jones2bc
      O
 
(Monkey, 38
 
Points)
 on 6/17/13 at 4:00am
ib pay.jpg

Hey all,

Just interested in some feedback about my perception of the true value of pursuing IBD post-MBA. Is it mostly for the exit opportunities/resume boost, or are people really motivated by the money (my impression is that the vast majority of lower/mid level bankers do not "love" what they do) ? From my estimation, average all-in comp at the associate level is around 150-200K, but you are working 80 hour weeks. That is the same as making 75-100K at a "normal" job ... which to me, doesn't sound all that special. Am I missing something here? Just curious to see if I am thinking about this the right way, as I will be entering B school at a target for most of the major banks this fall. Thanks in advance for your thoughts.

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Time to get a job! - Daily Coldcall Log (and 7 month update from bad depression)

proxyaccount
     
 
(Monkey, 32
 
Points)
 on 6/17/13 at 1:00am
Lets do this!

Hey again WSO,

I'm not sure many of you will remember me but I posted this thread (http://www.wallstreetoasis.com/forums/feels-like-i...) back in November '12. I can't even begin to believe it's been over 6 months.

Anyway as an update, I'm still unemployed but have started receiving federal unemployment. I finally asked for some help from my dad at the beginning of the year because the living situation with my mom had pushed me to the brink (severely depressed living with a severely depressed, bad news). I have since moved into his girlfriends townhome.

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Thank You To Our Sponsors

AndyLouis
     
 
 
(Almost Human, 6,090
 
Points)
 on 6/16/13 at 11:00pm
thanks to our sponsors.jpg

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 - REDEFINING
FINANCE RECRUITING

Take the Bloomberg Aptitude Test to determine and showcase your strengths and connect with financial employers worldwide.

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

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Hall of Fame Con Men: Mark Morze – Part 2 of 2

skylinegtr94
      IB
 
 
(Senior Baboon, 241
 
Points)
 on 6/16/13 at 7:30pm
TheConMan_large.jpg

(If you missed Part 1, you can find it here)

So, what about the CFO of ZZZZ Best? In part one I wrote about the headlines that many may have seen in any business or auditing class teaching about famous stock frauds. But in this particular case, there is so much more to it than that. I have to say, after doing some brief research on this story, I am amazed that things go so out of hand with some of the highest paid regulators and auditors on the case without anyone blowing the whistle.

Mark Morze was a tax accountant and one of the guys that created the thousands of fraudulent documents to fool multiple accounting firms. He got into loan brokering and raising money for some of his clients. He was introduced to Barry after hearing he needed money for expansion. He was charging 5% to broker loans.

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Should You Learn Mandarin? Probably Not.

Edmundo Braverman
      ST
 
 
(Human, 14,692
 
Points)
 on 6/16/13 at 6:00pm
cunning linguist.jpg

Let me preface this by saying that I think learning multiple languages is one of the most important skills a person can develop in life. I myself know a few, and can get by in a few others. Some languages can even make you more employable. According to CNBC, however, Manadarin Chinese isn't one of them.

I personally believe that learning Chinese will be very helpful over the coming decades, but the article makes several very good points. I know it was targeted at Europeans learning Mandarin, but the same applies to North Americans. Unless you are relatively young (no older than mid-20s) and have a couple years to devote to it, you should probably give Mandarin a pass - at least if you're only learning it to get a job in China.

The issue is that it Mandarin is an extremely difficult language to learn, with much different tonalities than Western languages. Additionally, without a written alphabet per se, there are more than 3,000 Chinese characters that must be memorized for any kind of written language proficiency.

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Part II: So You Want To Be A Derivatives Trader?

GMngmt
      O
 
(Senior Orangutan, 427
 
Points)
 on 6/16/13 at 3:30pm
Crank-Nicholson Diagram

If you enjoyed last week’s post then...here’s Part II! Straight from the Banking Blog about a 20-something derivatives trader who worked for a MM firm in a small European country and as a quant for a major London institution. I've formatted it into a Q&A interview but last week I was only able to spit out their response to a typical day. This last part wraps up with a couple more questions about their lifestyle and the industry, so read on to pick up where I left off...

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Wall Street Oasis SEO Interns Needed NOW

AndyLouis
     
 
 
(Almost Human, 6,090
 
Points)
 on 6/16/13 at 12:00pm
INTERNSHIP.png

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...

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WSO Conference 2013: Reason #12 To Join Us

AndyLouis
     
 
 
(Almost Human, 6,090
 
Points)
 on 6/16/13 at 10:30am
wso black shirt.png

There are 12 days remaining until the conference (June 29th) and each day we'll be listing off another reason for why you should join us at the conference.

Reason #12: Attendees will walk away from the WSO Conference with a larger professional network, a stronger resume, extensive knowledge about the finance industry, and an acute awareness of their post-graduate professional goals.


Grab One of the Last Discounted Tickets Today (40% Off!)


See inside for more reasons...

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2013 WSO Compensation Report has Arrived

WallStreetOasis.com
      EN
 
 
(Human, 12,188
 
Points)
 on 6/16/13 at 8:00am
wall street oasis compensation report.png

After over one year in the making, the 2013 WSO Compensation Report is here!

Access to the FULL 108 page 2013 WSO Compensation Report is 100% free. 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. Or if you are an employer, this report will give you an idea of what range you should be paying your employees.

Tutorial video:

DOWNLOAD THE FREE PREVIEW HERE

Here's how you get access to the full 108 page report:

All we ask from you is to take a few minutes to help us continue to build the most comprehensive and accurate database possible. After submitting three total entries (past entries count) to our Company Database (these entries can either be Company Reviews, Interview Insights* and/or Compensation Datapoints), your entries will be reviewed and you will be granted access to the report within 24 hours of submission (assuming we approve your additions).

  • + Add a Company Review
  • + Add an Interview Insight
  • + Add Compensation Info
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After over one year in the making, the <strong><a href="http://www.wallstreetoasis.com/2013-wso-compensation-report-full">2013 WSO Compensation Report</a></strong> is here! Access to the FULL 108 page 2013 WSO Compensation Report is <strong>100%...
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