Wells Fargo: A Bank Here to Stay?

Not that it is a secret to anyone here, but since 2008, banks have seemingly got a bad rep. Just go ahead and tell your extended family that you landed a job as a investment banker and prepare yourself for the church-eyed-glares that arise.

Q&A with CompBanker, Part 2

I just read through our whole interview for the third time, and wow, there is some seriously thought provoking, downright great advice. If you thought part 1 was hearty with information, just go ahead and read part two below; where CompBanker talks about the specific advice he would give to Monkeys, and even what he does in his precious free time.

Hopefully a lot more of these to come with our experienced users, but for now, sit back and enjoy the final part of CompBanker's interview.


Q&A with CompBanker, Part 1

Today, I have a very special treat for monkeys that frequent WSO. This weekend, I had the pleasure of interviewing one of WSO's finest. Some say he's part Saint, part Guru, but If you have posted on the forums seeking some good ol' fashion advice, you probably know the name CompBanker.

Hubris Kills as Investment Banking Bonuses Doled Out

No, wait. Do NOT spray the champagne; these investment banking bonuses are, after all, for our work in 2011.

Goldman's days of paying bonuses in stacks of $100,000 checks may be gone, but the hubris of Harvard's type A, beauty queens will always stay. Yes, today is the day where grown men, some with all the educational accolades in the world, sulk in their seats at a sight of a relatively meager bonus.

Though, do Goldman's bankers have a right to be so bummed? Below are three reasons why everyone should walk out of 200 West Street with a smile.

Motivation: Billionaire’s 394ft Yacht

"Does money motivate you?" is sometimes a question young monkeys face in banking interviews. On one hand, yes, of course it does. On another extreme, an unhappy millionaire is almost as common as a schizophrenic hobo. Though, perhaps billionaire Andrey Melnichenko can offer some advice.

To the common folk, Melnichenko appears to be just a regular Russian blessed by the fortunes of graft that contribute to most of Russia's top .01%. The squinty-eyed, partly balding fellow made most of his money through a fertilizer monopoly. In 1999, he realized that finance also makes decent money and co-founded MDM Bank, which became one of Russia's largest privately owned banks within ten years. Eventually, his oodles of money roped in Yugoslavian model Aleksandra.

Apple in China

Justify buying AAPL at 400+: Ok, that's easy. And I'll do it in just one word- China.

The last two days should have proved to everyone that the Chinese market is certainly the most enticing, and relatively unchartered, market for Apple. Yes, we know: rapidly expanding GDP per capita, massive middle class growth, increasingly opening up their telecommunications sectors, and blah blah blah.

What is more important is the telling signs from the last week of news about Apple in China, for no matter what Apple does, the Chinese still insanely crave their products.

Women Winning Wall Street

Although their numbers are smaller (Okay, a lot smaller) than male counterparts, women dominating Wall Street is possible. To those who dine in the shadows of sexism and get off to locker room talk, it may be surprising to hear about a program like JP Morgan's Winning Women, an initiative that shows young women that banking is not just full of men like WSO user, Heister.

Not only does such a program exist, but it also does fairly well in turning over internships and jobs to young women interested in banking. Of course, JPM has a lot of "winning women." Take a look at Mary Erdoes (pictured above), CEO of JPM's asset management division. Or Heidi Miller, the head of JPMorgan Chase's international efforts. Even better, Ina Drew, the bank's chief investment officer.

Virtues of Saving

In celebration of New Year's Resolutions and IlliniProgrammer's win, I've decided to write up on a very telling principle of my moral philosophy: Saving your hard earned monies.

WSO Year in 2011

Although a somewhat disappointing year for the at-home investor, the S&P 500 finished about exactly flat in 2011. That's right, in a year filled with brazen ups and frightening downs; equity markets appear to have neither tremendous gains nor gut wrenching losses.

Though, as a whole, can we be disappointed at 2011?

South Korea’s College Entrance Exams

Imagine, your entire life coming down to one moment- your teenage self with a few hours of classroom solitude, nothing in hand but a pencil and that fateful scantron. For South Korea's young adults, the reality of college entrance exams is one exemplified by sweaty palms and mind numbing anxiety.

The Economist:
"Every year the country comes to a halt on the day of the exams, for it is the most important day in most South Koreans' lives... Those who score well can enter one of Korea's best universities, which has traditionally guaranteed them a job-for-life as a high-flying bureaucrat or desk warrior at a chaebol (conglomerate). Those who score poorly are doomed to attend a lesser university, or no university at all... Ticking a few wrong boxes, then, may mean that they are permanently locked out of the upper tier of Korean society."


WallStreet Prep Master Financial Modeling