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Britain Going Bust?

Edmundo Braverman
      ST
 
 
(Human, 14,705
 
Points)
 on 1/23/09 at 7:25am
god-save-the-queen.jpg

Normally I'm fairly dismissive of rumors about a major 1st world country going bankrupt, but there might actually be something to this one. It's no secret that Britain is in trouble, and has been for some time. But now a few credible sources are stepping forward to suggest that they might actually be toast.

The pound has lost 36% of its value against the greenback, and over 30% against the Euro, since 2007. Jim Rogers of Rogers Holdings came out and said today that, "It's simple. The U.K. has nothing to sell." His advice to young people in Britain? Get out now.

  •  
  • 16
     

Banc of America rumor or real?

Cornelius
     
 
(King Kong, 1,707
 
Points)
 on 1/22/09 at 1:30pm
Banc of America rumor or real?

..dealbreaker reported that all of BofA's research 1st years were laid off.

is that true? Good luck to everyone.

  • 17
     

Bye bye, Thain.

affluenza
      O
 
(Senior Gorilla, 756
 
Points)
 on 1/22/09 at 11:53am
18_thain_lgl.jpg

A few moments ago, BofA CEO Ken Lewis (our hero) and Merrill’s former chief John Thain hashed things out in what was referred to as an “emergency meeting”, trying to determine what exactly Thain’s future will be at the new Bank of Merrill, or whatever the hell it’s going to end up being called.

Looks like Thain's hitting the road, according to CNBC. Perhaps his lavish spending had something to do with it. Here's a list of a few of the renovations he did to his office when he came on board at Merrill:

Area Rug $87,784
Mahogany Pedestal Table $25,713
19th Century Credenza $68,179

  •  
  • 37
     

New WSO Behavioral/Fit Guide Released!

WallStreetOasis.com
      EN
 
 
(Human, 12,207
 
Points)
 on 1/21/09 at 9:48pm

Buy Now

In response to the popularity of the WallStreetOasis.com Technical interview guide, it is our pleasure to present the official WallStreetOasis.com Behavioral Interview Guide! Our guide is different than all the rest because of the sample responses. Nearly every question contained in the guide has a real world, sample response to give you an idea of what an interviewer is looking to hear in an interview. And it's MUCH cheaper than the competition: $9. You can read below for more information. We will also be releasing a Firm Guide briefly profiling some of the top banks in the next few days so stay tuned!

Buy Now

WSO Behavioral Interview Guide

This 40+ page guide is a compilation of almost 100 of the most common behavioral / fit questions encountered in Wall Street interviews with detailed advice and examples. This guide was created to provide prospective financiers a quick review for a fraction of the price of other interview guides. This is an electronic pdf so you get everything immediately and can start studying right away.

Fit questions are part of almost every finance interview. There are certain questions you can always expect to get but often candidates are unsure of how to best approach them. In this guide not only do we give you specific guidance but we even provide examples. In this difficult market and competitive industry it is important to gain any edge you can. If you put in the time to review, this guide will give you that edge.

We've priced the Behavioral Guide so low because WSO is a community where information has always been free to our members. While $9 is not free, we think you'll agree (if you do your research on other guides) that it is an incredible deal for such an extensive compilation of fit questions, advice and samples that other guides may not provide.

Types of questions that are included in this guide:

  1. The One Question You WILL Get In Your Interview
  2. Industry
  3. About You
  4. Situational
  5. Tricky
  6. Other

Good luck and please let us know if you have any suggestions for improving the Behavioral Guide by sending an e-mail to [email protected].

  • 10
     

IS JEFFRIES SERIOUS???

dipset1011
      PE
 
(Senior Gorilla, 750
 
Points)
 on 1/20/09 at 2:58pm
IS JEFFRIES SERIOUS???

This is just to vent a little bit. Im from a target school think (Columbia/Cornell/Dartmouth) and i have great EC's and graduated cum laude. I have been consistently been getting rejected from this mid market bank. I know several students who have analyst positions here who are from non target state schools think (URI/UNH/UMASS). How rigorous is they're recruiting? and where do they rank in terms of other mid markets

  • 66
     

Shouldn’t the “Change” have already started?

affluenza
      O
 
(Senior Gorilla, 756
 
Points)
 on 1/20/09 at 10:32am
barack-obama-3.jpg

Throughout his entire campaign for presidency, Barack Obama used the word “change” every chance he got. America voted him in based on the fact that he promised to do things differently, to really turn this country around (although after Bush’s two terms, and the thought of another Republican in the Whitehouse, many Americans probably would have voted for Obama if all he promised to “change” was the toilet paper in the oval office bathroom).

  •  
  • 24
     

Thoughts on living in Astoria

Barbarian@theGate
     
 
(Senior Monkey, 71
 
Points)
 on 1/19/09 at 12:08am
Thoughts on living in Astoria

Hey guys,

I will be moving to NYC in July to work for M/B/B. I have been talking to some buddies and it sounds like your dollar goes a lot farther in Astoria, and its only like 15 minutes to midtown (possibly more if they close the W). Does anyone live out there now / have friends that do? I would love to know what the area is like in terms of safety and how the housing is in terms of value.

Thanks alot

  • 13
     

Another Geriatric Hedgie on the Lam

Edmundo Braverman
      ST
 
 
(Human, 14,705
 
Points)
 on 1/18/09 at 9:57am
floridaretirement.jpg

What is it about the retirement gulag we call Florida that attracts thieving geezers like Bernie Madoff and now Arthur Nadel? Nadel is on the lam now that it has come to light that he was running a $350 million scam in the shape of a group of hedge funds.

He left a suicide note and then decided that suicide might not be the best option, so he called his wife and said he'd be late for dinner. Very late. Cops found his light green Subaru in the Sarasota Airport parking lot. And the cash? Not so much.

At least he got on a plane to disappear and stayed on, unlike this jerkoff.

  • 2
     

So, what exactly IS wrong with Steve Jobs?

affluenza
      O
 
(Senior Gorilla, 756
 
Points)
 on 1/15/09 at 1:47pm
steve jobs

It’s quite clear that the 53 year old Apple CEO is ailing – let’s face it, the guy looks like the walking dead. But I’m not buying his whole tight-lipped “hormone problem” announcement the other day.

Look at the progression of his deteriorating health in this picture. He starts out looking like he should maybe hit the treadmill a little, then slowly sheds the weight until he ends up looking like he’s wasting away to nothing.

Jobs battled cancer back in 2004 but claimed to have beaten the disease, and is often referred to as a “cancer survivor”. Am I the only one that thinks the poor bastard might be on the losing end of that battle again?

  •  
  • 10
     

Down economies…lower bonuses….no job? Ever considered poker? Hear me out....

pokerdizzle
      IB
 
(Senior Chimp, 26
 
Points)
 on 1/14/09 at 2:27pm
Down economies…lower bonuses….no job? Ever considered poker? Hear me out....

Just for complete transparency, I am currently a senior and will be working in IBD for a BB starting this fall.

With tighter regulation especially with regards to bonuses and the shittiest job market in decades, I have been approached by many of my peers for advice on seeking opportunities / other ways to supplement personal cash flows. And even for those that were fortunate to attain jobs, the mere 65-70K base salary with little expectation for a bonus probably won’t cut what most had imagined would be a “comfortable lifestyle” coming out of undergraduate school.

So where can we find this additional cash to put in our pocket? Where can we find an alternative source of income with minimal effort and huge potential returns?

  •  
  • 66
     

Another Toolbag Video

Edmundo Braverman
      ST
 
 
(Human, 14,705
 
Points)
 on 1/14/09 at 1:36pm
vegas_com-douchebag.jpg

I wanted to resist; I just couldn't. This is a video that has been around a while, but I just thought it was even more douche than AJ and his banker buds hitting Cain on a Thursday night. Enjoy:

http://www.youtube.com/watch?v=teBNlg6hCHw&feature...

I especially liked the frat rat countdown at the beginning. Here's hoping that undetected syphilis leads to sterility.

  • 18
     

Uncle Sam Wants You - and Your Dirty Money

affluenza
      O
 
(Senior Gorilla, 756
 
Points)
 on 1/14/09 at 9:43am
irs.jpg

Take this as a warning – if you participated in any shady business last year, the IRS is still expecting their “fair” share.

According to an article on MSN Money this morning, regardless of how you got your cash, you still have to fork some over to the Government (hey – someone’s got to pay for the 2008 bailouts).

Included under this umbrella of illegal activity are profits from drug dealing, theft and accepting bribes. In fact, they even spell out where to report your illegal income on your tax forms:

  •  
  • 3
     

Opt Out of the Recession

Edmundo Braverman
      ST
 
 
(Human, 14,705
 
Points)
 on 1/13/09 at 2:22pm
recession.jpg

Out of the (literally) 200 or so press releases to come across my desk today, this one caught my eye. It is the brainchild of a Philadelphia advertising agency that, I'm guessing, ultimately wants to encourage consumers to spend their way out of the recession.

Here's the Wall Street hook: if you sign up to "opt out of the recession", you'll get your name in the Wall Street Urinal when they pay for a large ad in the Spring. Based on some of the questions and comments I've read on this site, it's the only chance some of you will ever have to see your name in the Journal, trust me.

  •  
  • 3
     

Citigroup To Be Broken Up?

nickleeson
      IB
 
(Baboon, 116
 
Points)
 on 1/13/09 at 12:45pm
Citigroup IB To Be Broken Up?

what will become of citigroups investment bank if the "financial supermarket" is broken up?

  • 11
     

Need some quick cash? Going once, going twice….

affluenza
      O
 
(Senior Gorilla, 756
 
Points)
 on 1/13/09 at 10:23am
cherry.jpg

There’s no question the economy has put a serious dent in everyone’s wallet over the past several months, and at this point the light at the end of the tunnel appears more like a dull glow the size of a pinhole.

So, in times like this creativity is the key. And I’m pretty sure 22 year old Natalie Dylan takes the cake for best way to raise a lot of cash quick. It’s really just a matter of selling the right product.

In her case, she’s put her virginity up for auction. The bidding is currently at $3.7 million, and the irony of the situation is that she is quoted as saying she hopes to use the proceeds “to pay for an advanced degree in family and marriage therapy”.

  •  
  • 16
     

Chicago Booth, Kellogg reps in IBanking

sonibubu
      AM
 
(Senior Baboon, 193
 
Points)
 on 1/12/09 at 10:26pm
Chicago Booth, Kellogg reps in IBanking

Hi guys,
I've been recently accepted into Chicago Booth and wanted to find out its rep among the Ibanking community. I have worked as an engineer and want to transition into an associate role at an I-bank. Will Booth's name help me get my foot into the door as a career switcher, considering how many laid off bankers are out there?

I've also been accepted to Kellogg but have heard it's not as respected on Wall Street. My argument for Kellogg is that there is less i-banking competition (only 10-15% go into banking) so it may be easier to break into banking from Kellogg.

Finally, how does Columbia stack up to these two in terms of rep?

Just my gut feeling here: Harvard/Wharton > Chicago/Columbia > Kellogg

Any suggestions/tips are much appreciated.

thanks!

  • 26
     
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