S&T Structuring is the BEST. Hands Down.

Sales sounds awesome (building and maintaining relationships) but as a career, it makes you easily replaceable.

Trading is pretty much the dream but it's like modelling - you last maybe 7-8 years then once you hit a certain age(assuming you don't get fired in between), you burn out and you leave, with no exits other than ... more trading.

Structuring seems like the perfect in-between, and career-wise there are only a few structurers in a group (ex. 15 salesmen, 8 traders, 1-2 structurers) making them very invaluable. Fire the structurer and he'll just get snatched by another bank, period.

For the most OTC desks (FX, rates, credits) don,t you guys agree that in S&T, the structuring role seems like the general "best" spot career-wise?

The Standard Wall Street Career Path Is Shifting Under Everyone's Feet

So you want to become a Wall Street master of the universe? Forget almost everything you know about how the ride to the top is supposed to go.

The basics are still the same. Go to a target school, take the right classes, and land an exhausting summer internship at a bulge bracket bank.

But say you've done all that. In fact, say you've even gotten a job offer at that big Wall Street bank.

Then what?

Five or six years ago the road was pretty clear — a few years as an analyst, some time as an associate (or maybe a dip into the buy-side), a stint at business school and then a leap into the buy-side or a long career at the Wall Street bank of your choosing.

Not so anymore.

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The operating side of PE

Does anyone have any experience on the operating side of private equity, where instead of doing deals you are working with portfolio companies in which your firm has invested? I'm trying to get a sense of what being on this part of the business is like, and am looking at jobs in this type of function.

Does AAPL have a sustainable moat?

mod note (Andy) this was originally posted on 10/26/12
A fundamental contention between bulls & bears seems to be the ability of AAPL to continually sell new iphones/ipads at premium prices given the hyper-competitiveness of consumer hardware. One only has to see the meteoric rise and fall of RIMM to see this fact.

Of course, it's now in vogue to disparage Blackberries, but pre 2008 times were looking bright as ever. With a stranglehold on enterprise/business users, a proprietary security system/network, and an efficient phone design, RIMM could do no wrong. Was that a moat? In hindsight, most definitely not, as missteps in consumer phones (yes, I have one), have brought questions as to RIMM's survival, let alone growth.

Lumosity Unveils America's Smartest Colleges

SAN FRANCISCO, Nov 01, 2012 (BUSINESS WIRE) -- Lumosity, the online brain training and neuroscience research company, today revealed the smartest colleges in America based on an analysis of its database of human cognitive performance. The study examined game play data from over 60,000 college students across five cognitive areas: memory, processing speed, flexibility, attention and problem solving, and named Massachusetts Institute of Technology as the smartest school.

College rankings typically use standardized test scores to measure intelligence, but tests like the SAT and ACT are designed solely to predict scholastic ability and performance.

Bloomberg On Homelessness

Guys, the father that you New Yorkers know and love so much is actually more tyrannical than I had previously thought. Until earlier this week, I had never heard of Michael Bloomberg's ban on donating food to the homeless. Yeah, you read that right. Not a typo.

You might remember the more recent introduction of the "Nannie City", as Bloomberg banned the sale of large sugary drinks in New York City. If you've been living under a rock (or not in NYC, anywhere else is de facto "under a rock" anyway, but I digress...), you can read more about that whole fiasco here.

Well, I suppose a case can be made for getting rid of oversized Monsters and Coca Colas, but donating food to the homeless???

Priceline Pays $40/share for Kayak, a 29% Premium over Thursday's Close


This price represents ~32x TTM EBITDA....overpaid or good to buy them now before Kayak eats thier lunch?

...not surprisingly, Orbitz up 12% after hours.

What is a bit crazy here is the premium paid. I think this is actually a very smart move by Priceline since Kayak was showing a lot of momentum...

You know the guys at hipmunk.com are salivating right now, right?

Dinged: Other candidates "Bubbled Up Higher"

So I was interviewing with a MM bank and got dinged. Turns out the guy that was running recruiting and dinged me quit his job the day after informing me.

I decided to e-mail the new guy who took over for recruiting and asked if there was any particular question I got wrong (I know I didn't) or any specific feedback/constructive criticism he could offer that would assist me moving forward. This is how he responded.

Monitor Company Group LP Files for Bankruptcy

NEWS: US operations will be acquired by Deloitte. The worldwide ops to be assimilated into Deloitte Touche Tohmatsu Ltd.

Does anyone have any more details on this and what exactly happened?

Please leave in the comments, thanks.

Voices of Finance Interviews

I stumbled upon these interviews done by a journalist in the UK. He recently conducted 70+ interviews with a wide array of different finance professionals (everyone from interns to MDs and BO to M&A). Thought it was pretty interesting:

The Real World

I’m deviating a bit from my thematic postings today to focus on a few observations of adulthood that I’m curious to hear your input on WSO. It’s funny – we all grow up a significant amount in college, but I feel that I’ve grown more in my single year out of school than in my previous twenty-two having lived on this planet. And what fascinates me even more is that there’s still an entire life of learning ahead of me.

Why UBS Will Die

One common criticism I hear on the street is UBS, the U've Been Sacked bank, or Ultra Bullshit Shit bank has a poor reputation. Either through routinely failing institutional clients by wiring money incorrectly to a counter-party while they're in the middle of a lawsuit. Or finding their contracts don't mean very much when the words 'capped-fees' is just there to charm, it's misnomer in Swiss-German that means it's uncapped; a kind of screw you get out clause..

But the bank is also known for the billions they've put into R&D in dark pools, brokerage, the sheer numbers of starts-up in their rather activist, but also interesting, long-term investment strategy.