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The Decline Of Hedge Funds

My friend works as a hedge fund administrator, and he's beginning to notice a slight increase in redemptions and liquidations for a few major (PE) funds in the past couple of weeks. In an article by CNBC , some well-known hedge funds are also closing up as fund managers are failing to beat the market. A forward redemption indicator by SS&C also measures a redemption rate of 3.76% of AUM this September, up from 3.11% of last year. Not based on any fundamentals, but this leads me to be slightly bearish in the short term, at least for the job market.

Parents said they won't financially support me if I move.

-Live very close to the city (think Hoboken, JC, downtown BK type of close)
- Lived at home as a SA. Wasnt as fun.
-FT offer. Considering moving to Manhattan...

Put fashion model experience on my resume

I have posted this while ago with another username on job search thingy and again with the same username this afternoon . then I realized since I was very naive to use my full name as my username, my personal info can be tracked..so got another username... also this forum is bit more active than others...

I have a very vvery quantitative academic background and i am doing my masters now. Quant finance. I got full scholarhip at an engineering school (always in top 5. normally 1st or 2nd) and now i am at an ivy....

I wanna get into s&t and I only have research experience. I have one engineering internship and one consulting...

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Financial Modeling Boot-Camp (Los Angeles, 11/7)

Attended by investment banking, private equity , corporate finance professionals, MBA students, and those in career transitions, Wall Street Prep 's popular Boot Camps bridge the gap between academics and the real world, to equip professionals and students with practical financial skills they need on the job.

Live Seminar Highlights:



2 days of intensive Financial Statement & LBO Modeling Identical to large in-house analyst and associate training programs Taught by experienced investment bankers Includes comprehensive training manuals and model templates
November 7, 2012 - 8:00am to November 8, 2012 - 5:00pm
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Personal Finances: How much are you letting slip through the cracks?

I'm a frugal guy, and I'm addicted to getting a good deal. I can't say I cut coupons, exactly, but I've always wondered how much money you can save doing so. I do spend a few...

The 10 Silicon Valley Companies you wished you worked for (or started)

Good work, Markus Wohlsen (Wired Mag) , no wonder this list was tweeted 140+ times in the first two hours it got published.

I took it upon myself to reproduce it...

Office Beautification Process

I once worked for a firm where the culture was borderline immoral. Between the everyday white lies to clients and an unusually heavy focus on production quotas, everything...

Health & Fitness as an Analyst

As an analyst in investment banking or in other similar gigs, it can be difficult to adjust to the new lifestyle. What I found in college and what I'm seeing now with work is...

How to Stop Illegal Downloads

Three days after publication of my new book , The (Honest) Truth About Dishonesty , I was able to find electronic copies on a few websites that specialize in illegal content....

The top 15 Masters in Finance courses for breaking into investment banking in the UK

I don't know if this has been posted before, but I find it very interesting and should help anyone looking for the best/right program to get a FO job at an investment bank (in...

Forget About Student Loans; What About Parents?

I'm not the typical college student: when I graduate next May, I will have zero debt. I grew up in New York City, went through the usual "gifted" and "honors" programs that most of our readers are familiar with, and was fortunate enough to obtain a full scholarship for undergrad. When I apply to graduate school, I'll be taking on student loans for the first time. Despite this, my main concern isn't how I'll deal with the massive six-figure debt; rather, it's how I'll repay my parents back.

The Harsh Truth about Why You May Not Get Promoted!

When you join a large organization, you tend to hear HR buzz words like: career development, career progression, succession planning, growth opportunities, etc. Essentially,...

Portfolio Theory Part I: The Financial Strategy of Yesteryear

Portfolio Theory is a construct of Harry M. Markowitz from the University of Chicago that economically models a risk-return adjusted optimal portfolio based upon two primary...

Comprehensive US MSF Ranking

Since there is not a ranking of US MSFs I elected to make one. I'd like to thank ANT/TNA for his great list on MSFHQ.com it is an invaluable resource for anyone considering an...

Priority Dilution: Don’t sabotage yourself!

Priority dilution causes you to sabotage your own work and goals by focusing on less important tasks instead of keeping your full attention to all parts of the actual assignment. Surprisingly, overachievers are affected in particular and often have difficulties performing group work or team projects.

In grad school one of my fellow class mates called me out during a team meeting, yelling at me: "Dude, stop being such a perfectionist and submit the damn paper, we already past the deadline for the team project". In fact we already finished the paper two days ago, but I spend the whole day making adjustments.

The Non-Target Curse

About a week ago, I was sitting at my desk at my current PE internship when the partners and the CEO were filling in a questionnaire that an investor (bank) had requested. The specific question that caught my attention was one that asked for the caliber of my firm's current and previous interns .

The answer provided by the big guys?

We have had Ivy League interns , mostly from Harvard, Stanford, Yale and other top universities such as Oxford, Cambridge and LSE.

There was no mention of my non-target university. I could tell that they felt bad seeing as this was all done 10 feet away from me and I could hear everything, so what followed was an attempt to make me feel better about myself:

...and other universities.

doctor switching to finance

I am a 39 yo physician who no longer wants to practice. I really want to go into finance. I would like to go into IB, PE, HF . VC. Management consulting is also an option that I considered. I had an interview wIth Mckinsey but got dinged. I tried to break in but it seems difficult bc of my nontraditional background. Some were interested bc of my medical background but I lacked finance experience. I am thinking about going to b-school but I heard it doesn't make sense unless it's a top b-school. Is it impossible because I'm older and have no finance experience? Can I overcome that by attending any decent b-school? I was hoping going to any b-school would give my switching some credibility. Any advice would be appreciated.

Who would get hired first?

Let's say you go to a good target school, and GS , JPM , MS or any bank is recruiting students.

There are 2 candidates in the running for the final spot at a summer internship . Student 1 is a math/physics double major with a 3.2-3.3 GPA .
Student 2 is an English major and has 3.7-3.8 GPA .

Both of these candidates are virtually identical in leadership quality, prior work experience, and gave similar-quality interviews.

Who would get hired?

Nobody wants to do sales in Sales & Trading?

Recently a BB came to my school to recruit. All the students there said they wanted to go into trading (including me), and none of them said they wanted to go into sales. Then this sales guy from the BB started presenting and I must say I was very impressed and I might have persuaded by him to be more open to sales. Let me tell you why.

First off, he presented very well, which you should expect of a sales man but he was really smooth and good. When the traders presented, they were like giving pauses in the middle, like "urm", as they recollect their thoughts. Not that I expect traders to be very good in presentations because their main job is trading the markets, but I was more impressed with the sales man here in this instance.

A tragic hero of financial engineering

Most of you here are familiar with the Black-Scholes formula since it's imbued in every possible textbook of corporate finance 101 under the sections of option pricing. The infamous black-scholes-merton formula was created by Nobel laureates (now unfortunately also blamed for the credit crunch) who used advanced calculus to build a closed form solutions on how to price options which are widely traded on the CBOE today. But most of you don't know that the science behind options was created over 70 years before it came to practice by a man name Bachelier.

WallStreet Prep Master Financial Modeling