Does Investing Experience (stock market) matter for IBD?
I'm going to be a junior and have never invested in the stock market or anything else before. Will this be a concern for IBD recruiting? I do however have a decent amount of macroeconomic knowledge and did Fed Challenge (US finalists) in high school so I know a lot about the Fed and stuff.
On another note, I read Buffet's strategy on intrinsic value investing. Given the Dow's nosedive in recent weeks, is this a good time to BuyBUYBUY as everyone else runs away due to herd mentality? I'm looking to invest my $3000 summer wage in something like Coca-Cola or something via Scottrade. Good experience or waste-of-money (since any gains on this amount will be cut into severely by commission alone?)
Thanks!





I'm assuming you know that
I'm assuming you know that whatever advice given to you on this forum regarding any sort of investment strategy will be null and void given that it is probably public knowledge so much that you accrue no advantage as you know just about what every tom, dick and harry investor knows...if you are serious about investing, go and do your own hard core research and value your companies.
With regards to getting into IBD, you don't need to have invested in the stock market! All you need are good grades and crazy leadership experience and of course prep for those interviews
no that's for trading!
no that's for trading!
Banking could not be farther
Banking could not be farther from Investing.
Commission won't eat up your
Commission won't eat up your summer salary. It's only $7 with Scottrade (very good broker choice by the way), as long as you don't day trade you will be fine.
And you don't need tons of research to see that it's smart to invest when the market nose dived. But do you think that it hit the bottom? That's the question you need to be asking yourself. Because if Coke went from 10 to 8 what makes you think that it won't go to 6?
But investing like Buffett is a smart move. Good ol' American companies have a lot to offer as long as you have faith in America.
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I want to work now! No, really. I want those 100+ hours/week.
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don't listen to the college
don't listen to the college schmucks on this board; obviously banking has nothing to do with stock picking, but then again what the fuck does it have to do with leadership? do NOT take chances when it comes to interviewing.
they may ask you if you follow any stocks etc. if they do, you'd BETTER have something to say.
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http://www.drmarkklein.blogspot.com/
^ Agreed
^ Agreed
When I interviewed at a particular BB firm for an IBD Summer Analyst position,
I was asked what stocks I followed, what I liked and disliked about them.
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Good advice. Thanks!
Good advice. Thanks!
While trouble in the credit
While trouble in the credit markets has affected us in M&A, we couldn't give two hoots whether the market goes up or down. Knowledge of the stock market won't do you any good in this practice.
However:
When interviewing for full time positions, twice I was asked about stocks. Both times I didn't have an answer, although I offered to talk about what I would theoretically look for in a stock, which was declined. So you may want to brush up on some things for interviews, but feel free to forget them the moment you are done.
CompBanker
Re: Does Investing Experience (stock market) matter for IBD?
I'm going to be a junior and have never invested in the stock market or anything else before. Will this be a concern for IBD recruiting? I do however have a decent amount of macroeconomic knowledge and did Fed Challenge (US finalists) in high school so I know a lot about the Fed and stuff.
On another note, I read Buffet's strategy on intrinsic value investing. Given the Dow's nosedive in recent weeks, is this a good time to BuyBUYBUY as everyone else runs away due to herd mentality? I'm looking to invest my $3000 summer wage in something like Coca-Cola or something via Scottrade. Good experience or waste-of-money (since any gains on this amount will be cut into severely by commission alone?)
Thanks!
Two things. where did you read this "buffet strategy"
and no investing isn't important necessarily, but ppl will like to see you demonstrating interest in the markets, and have some knowledge of recent market events....
Hmmm
So then my question to you folks in IB is that given my keen interest in the market perhaps I'm better off doing Asset Management than IB?...I've always wanted to go directly into Buyside rather than going the BB IB route of Sellside and then into Buyside...Are there any good programs for kiddos coming out of undergraduate into Asset Management (at a BB level) or perhaps HF/PE?
I was reading this
I was reading this book---
Buffett: The Making of an American Capitalist (?)
It was more of a biography rather than an investment strategy guide. I'm gonna go pick up 'The Intelligent Investor' today. Good book for BEginners?
anything by graham is good
anything by graham is good
Value investing
As a first intro to value investing, I think you'd get a good overview from "Value Investing: From Graham to Buffett and Beyond"
ISBN-10: 0471463396
If you enjoy it, I'd recommend you go from there to reading all the classic Graham/Dodd stuff and Buffets letters to stockholders, etc.
A Random Street Down Wall
A Random Street Down Wall Street also has a lot of good information for beginners.