Master Your Finance Career

The # 1 Community for Careers in Finance. It's free to join.

Wall Street Oasis is the largest & most entertaining online community focused on careers in finance.
Every step of your career we have you covered. Our products & services:

Interview & Recruiting Prep

Community Resources

Job Prep

Opportunities for internships in Seattle?

Considering attending UW and was wondering how the internship opportunities are there? Hopefully with a good GPA and solid internships I could break into banking

Headbangers Rejoice! Head of Metal Is Now Live!

Some of you may remember my first post of 2013, in which I talked about my new year's resolution: the launch of, the most accessible heavy metal resource on the web:

Since then, it's been an absolute flurry of activity as I write content, learn all about how to use services like Launchrock, 99designs, Vistaprint for business cards, and Wordpress. What I noticed though, was just how often I kept pushing back the launch date to keep tinkering with things behind the scenes.

"You gotta fail fast, bro," our own Edmundo Braverman advised me. "Silicon Valley speak. Just get it live, get it out there--it won't be perfect, but it's better to just fix things as they come up rather than tinker with it forever." Chief Monkey Patrick, who has kindly offered his suggestions for this since day one, was in agreement.

The WSO Advantage

Every step of your career we have you covered. Our products & services are listed below:

Financial Modeling Training

Templates, M&A, LBO, Valuation, + more. Learn More.

Interview Prep Guides

50,000+ copies sold...for good reason. Learn More.

Resume Help from Actual Pros

Polish Your CV to Land More Interviews. Learn More.

Find Your Perfect Mentor

Realistic Mock Interviews. Learn More.

Video Library: 100+ Hours

Industry Insight & Specific Guidance. Learn More.

Research 1,000s of Firms Free

Interviews, Compensation + more. Learn More.

WSO Job Board

Exclusive $100k+ Positions. Learn More.

Happy Hours & Free Webinars

Don't Miss Out! WSO in Your City. Learn More.

Throwing Good Money After Bad

Hey monkeys,

I'm sure you've all been there, a stock that you just keep tossing money at, and despite all the analysis, the models, and readings and re-readings of company financials, the market just won't agree with you. The optimist in you will justify short term share losses, "Oh, the massive drop in gold is affecting everything" or, "The manufacturing index missed expectations, but that shouldn't have hurt this particular company as much as it has" and you gleefully buy more shares that are seemingly "on sale". Then, at least for me, the pessimist shows up and the second guessing commences, "That impairment was a bigger deal then you thought" or, "The recent decrease/increase in revenue/COGS are not just a result of decreasing/increasing commodity prices, it's management and it's permanent". This is not a fun experience, nobody likes to post losses, and blows to your ego can sometimes hurt as badly, if not worse (depending on how much you have invested).

So, when faced with a situation like this, what do you do? Run back through the financials? Rebuild your models? As I'm sure you can all guess, I'm having one of these moments myself, wondering if I'm throwing good money after bad, and trying to figure out a reasonable strategy to try and figure out whether I should close a position or trust in my earlier analysis. Maybe someone here on WSO is having a similar experience with the stock I'm currently frustrated about:

Vale SA

FINRA to Regulate Banker Attire

Get ready for transparency in banking to reach a whole new level if this Dutch design team has their way. Studio Rooseagaarde (any relation to @KevinRoose?) is creating what it believes is the avant garde in banker attire: a suit that becomes invisible when a banker is lying.

The suit utilizes "smart e-foils" to detect increased heart rate and other biological markers which indicate deception. Studio head Dan Rooseagaarde admits that the suit is designed with bankers in mind and is based on current lie detector technology and methodology.

Some folks (at least the folks at SmartMoney) hope the technology catches on and banking regulators make it mandatory. Having seen some of you guys, this is pretty much everyone's worst f**king nightmare. Do you even lift, bro?

markets last week: retail sales, overall sales

While the market has maintained a smiling disposition there are growing grumblings. Retail sales were announced this week. American consumers control roughly two-thirds of our nation's economy and retail sales show us their action, as opposed to opinions, in vivid black and white. Or, perhaps in this case, it would be more accurate to suggest red ink as the primary color. Sales for March fell 0.4%. Often there are valuable insights to find by looking inside the numbers. Regrettably most of the data is flowing with the current of lower sales. This is true with vehicles, electronics and at the gas station.

Struck Out on IB Summer 2013 Recruiting

To start: I'm a Junior with a 3.8 at a non-target and an internship at an asset management firm last semester. I switched from accounting to finance, and it really put me behind on the IB recruiting. Basically, I had a few interviews with 2 boutiques in Charlotte but struck out. Need some help going forward.

I am currently searching for any kind of work this summer but most likely will be taking classes to graduate a semester early. Since I was not able to find any IB SA internships this go around, my plan is to apply to Michigan's MAcc program for the Fall of 2014(with my GPA and 710 GMAT score I believe I'll get in). How will recruiters look at my lack of internship this summer if I tell them I chose to take classes instead in order to graduate early?

The More Things Change, The More They Stay The Same

Reading Liaquat Ahamed's Lords of Finance this weekend, I came across this bank run:

"[The Bank of England's] reserves fell from over $130 million on Wednesday, July 29, to less than $50 million on Saturday, August 1,when the Bank, attract deposits and conserve its rapidly diminishing stock... announced it had raised its interest rates to an unprecedented 10 percent. 

Yes, it sounds like the Black Wednesday that we know in 1992. Bank of England spent billions of pounds to raise rates to 10% and higher in a costly and futile attempt to prop up its currency and stay in the ERM. Soros made his billions and indeed his name by making over a billion dollars for his investors.

But this is not recent - the year is 1914. Full quote is below:

How to get work done when you’ve lost your enthusiasm

Just a few hours ago I submitted my taxes - they only took about 15 minutes mostly because they were simple and Im broke. But the tax man cometh and taketh anyway. I came to the sad realization that net-net my post tax take home is about as much as my pre-tax salary from my first internship (5 years ago). With this newly gained nugget of wisdom and my growing list of things-that-I need-to-get-done-for-work-by-COB-that-I don't-care-about, I had a very strong desire to pack up and move to the Cayman Islands. But I can't afford that. So how to dig deep and find the motivation to be productive when I've lost interest. Read on for some ways to trick yourself into being motivated when you've lost your enthusiasm

Boston Marathon - How To Check on Friends

**UPDATE**: Google's on the job now:

If you know anyone running in the Boston Marathon that was just attacked, this runner tracker is still up and running:

You can check and make sure your friends/family are still okay.

Good luck.

Boston Marathon Explosions

Hope all you monkeys are alright. Hopefully get some more info soon, doesn't seem to be a random event

Are we witnessing the end of John Paulson?

After this piece on Friday discussing his losses, they have amplified today and I'm guessing his unwinding of positions is contributing to the collapse in Gold.

Will Paulson even be around next year? I have to imagine this "one hit wonder" will be forced to wind down all of his funds.


Make sure to see Whitehat's response inside the thread

Unlike WhiteHat ( "TSLA Taxpayers Stuck with Lifeless Assets" and "10 Facts/Headscratchers from the Ongoing TSLA Saga"), I'm a big fan of Tesla Motors.

Why I like Tesla:

Tesla has followed a typical learning curve - Tesla began in 2003 by taking stock Lotus Elise's and converting them into fully electric vehicles. Essentially a proof of concept, the car's purpose was to show the world that an electric vehicle could be sexy and fast.

Fast forward to today; the roadster has been put out to pasture and the Model S is the new flagship. So far the sedan has received both rave reviews (Motor Trends 2013 car of the year) and media criticism (New York Times), but every single driver (including me!) will tell you the same thing: the car itself is phenomenal. It is leaps and bounds better than the Roadster and still less expensive.

The model X, due out in 2014 (pushed back to "focus on 2013 profitability") is designed to follow the same path.

WallStreet Prep Master Financial Modeling