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Back office survival guide: About zombies and robots

I finished my last article with the sentence "There are actually several ways to break out of operations" but before you break out you need to survive first. Believe me, the...

Economics of tipping

Richard posner in 'The economic analysis of law' stated the following about contracts - "If I go to a store to buy a pound of rock salt, and I'm willing to pay legal tender for the salt and the store owner is willing to accept my legal tender in exchange, then one can confidently assume that the sale was worth more to me than the money and the money was worth more to the store owner than the salt. But it is easy to alter the situation and state that if I pay the owner $1 for the salt for a next day delivery, and the he fails to deliver and breaches the contract because his delivery men go on strike. Thus the true nature of contracts of law is to minimize breakdowns like above in the process of exchange. "

Do big banks still look to hire FT Analysts after Oct?

I know big banks recruit for SA in the spring (Jan to March). It is possible to get a financial analyst position at a big bank after Mid Oct to Dec? I know the big banks have...

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HELP! Perella SF vs. HL Restructuring LA vs. Citi LA

I have offers for full-time positions at the following three banks:

Perella in San Francisco
Houlihan Lokey RX in LA
Citi M&A in LA

I come...

Schwarzman Is a Boss

Take note, monkeys: if you ever actually "make it" in this business, this is how you want to sound in an interview. The word indefatigable comes to mind as he laughs off the...

"Hedge Fund" run by college juniors

This is starting to become a trend. Some idiot college kids who just finished taking Finance 101 pooled some money, threw together a website, and called it a hedge fund....

How Wall Street Execs Won Big From The Crisis

This piece in DealBook written by Steven Davidoff exposes how WS execs profited (even more) from the financial crisis. During this period, execs and management were prevented from receiving bonuses due to TARP restrictions. This encouraged a lot more options to be given out, which has become somewhat serendipitous. Just how fortunate were these execs? Take for example Amex's CEO, who received 1.9 million stock options with a strike price at $16 when their stock fell below $10, which has now returned to their pre-recession level of $58.56 (11/05/12). That's a whopping $80M. Funny how things work out.

Ugly Women Land More Interviews

mod (Andy) note: "Blast from the past - Best of Eddie" - This one is originally from December 2010. If there's an old post from Eddie you'd like to see up again shoot me a...

Is discrimination an issue today?

Hello everybody. I apologize if I placed this thread in the wrong forum and/or there is the thread for discrimination. As you can tell, I am new.

Specifically, I'd like...

Why Not Consulting?

Evening all,

I've had a lot of interviews recently, and one question that I've faced in almost every investment banking interview so far has been "Why not consulting...

Basic Primer on Bond Duration and Management

Duration. Bonds. Boring. Most people I know hit the snooze button about ten extra times and then going back to sleep before fixed income class. I mean really, how could you not? Bonds are a snooze fest much of the time and require all kinds of weird math and numbers. Then there are these stupid concepts like convexity and duration combined with the fact they move in opposite directions of interest rates.. it's enough to make your head spin at first. Most of you might ask, what is the point? Well, if you've ever wondered how duration plays into managing a bond portfolio I hope I can shine a little bit of light on it for you.

Bonus Bananas October 5, 2012

Sorry I'm late this morning, guys. Here's this week's Bananas:

1) The Number Of B-School Grads Going To Wall Street Has Plummeted ( Business Insider ) - Probably won't...

Pay and Work-Life Balance

ER seems to give a pretty good work-life balance compared to other areas of finance, as well as a respectable pay and interesting work.

Is there any other role which offers a good pay/good work-life balance or is ER the only one? (I know it 'varies depending on the person' in terms of the actual work, hence I'm limiting the question to work-life balance and pay)

Slightly random unrelated question: to succeed in ER do you need to follow the overall market (e.g. S&P 500, FTSE etc) or the major trends in your sector?


Stuck in operations? Advice from a former victim

Just to warn you in advance: You are about to read an article from a college kid who wasn't able to secure a front office role although having relevant finance- related experience.

But what do you do after getting rejected from pretty much every job you applied to while the world seems to come to an end as a result of the collapse of several investment banks in 2008 and 2009? Let me tell you: You watch the devil rise and break through the concrete of Wall Street in order to take you to a middle office/ back office gig in operations.

Got Gas? Yes Please!!

SandRidge Energy (SD) focuses on exploration, development, and production of oil and gas primarily in the Permian Basin and the West Texas Overthrus. Of the company's estimated reserves of 1,312.2 Bcfe, approximately 52% is natural gas.

In Q2 2012, SandRidge reached record oil generation levels amounting to 4.6 million barrels of oil and a total of 8.2 million boe. SandRidge revenue has therefore been growing at a rapid rate over the last five years. At the end of 2011, SandRidge's five-year annual average revenue growth rates were at 29.52 percent. Meanwhile, the year-over-year growth rate was 51.89 percent at the end of 2011.

Top 10 WSO Groups

Monkeys, I added the top 10 groups (in terms of member size) to the "Groups" menu dropdown. Going forward we hope to get a lot more activity going with the groups as it has a...

Elliot Capital Management Seized Argentine Navy Ship

Elliot Capital Management just seized an ArgentineNavy ship in Ghana. What a ballsy move. I applaud them for pulling this off, but not sure how this is going to stick. Maritime...

The MVP Award, Advanced Stats, and the Old Guard

Today I'd like to take some time to talk about an important debate that's going on in diners, in bars, and in living rooms throughout America.

No...not the Presidential...

4th and Goal: Leaving It All on the Field

Many of you have heard me say "leave it all on the field" when it comes to living your life, and by that I mean that you should never go to your grave with the regret that you...

Becoming "Cultured"

Hey guys, it's been a while.

Lately, I've noticed that many (but certainly not all) bankers seem to possess an air of culture and refinement. I'm sure that some of them...

WallStreet Prep Master Financial Modeling