David and Goliath: The Boutique and The Bulge Bracket

Mod Note (Andy) - #TBT Throwback Thursday - this was originally posted on 10/11/13 and is great information for those thinking about which types of banks to apply to for FT...

Giving Back: Beginning as a Contributing Author

I've been asked to begin contributing as an author on this site, and given how many private messages and replies I've been receiving to a number of my posts within several threads lately, I was happy to oblige.

Let me state up-front that I unfortunately can't do an AMA, simply because there are too many elements of my story that would immediately identify me to anyone who knows me.

With this blog, I hope to share as much critical and factual information as possible. It seems people have responded warmly to me sharing specific datapoints, and in the past, people have also appreciated when I outline how I mentally approach certain qualitative aspects of this industry (recruiting, networking, relationships, group culture, etc.).

Kobe Loses Three Mansions + $75m in Divorce


This topic has been beaten to death on these forums, but in case you aren't absolutely convinced of the necessity of signing the almighty get-out-of-marital-...

A "Reality" Check for the SAT

This week I read an interesting post on a career blog that I thought I'd share here. It talks about one of the most recurring topics on this site, SAT scores, and how the changing trends in education are producing children ill-equipped for actual thinking, only for test-taking. And given that the SAT essay prompts have been changing a bit over the years, there's a growing disconnect between the current generation's theoretical education and practical uses. Students fail to develop critical reasoning or analytical skills because all they've done is learn how to ape along by absorbing mass amounts of information and regurgitating it at whim.

"How to Get a Real Education"

I understand why the top students in America study physics, chemistry, calculus and classic literature. The kids in this brainy group are the future professors, scientists, thinkers and engineers who will propel civilization forward. But why do we make B students sit through these same classes? That's like trying to train your cat to do your taxes--a waste of time and money. Wouldn't it make more sense to teach B students something useful, like entrepreneurship?

Scott Adams, creator of the Dilbert comic series and graduate of Berkeley's Haas School of Business, began an interesting piece in this weekend's Journal with this paragraph.

Neil Barofsky: TARP = "a colossal failure"

In this succinct yet striking article , Neil M. Barofsky, the special inspector general for TARP from 2008 until today shares his perspective on the bank bailout. He calls it a failure.

I've added about half of the article here, read the whole thing though as I cut some bits out. What do you think of this? Does the fact that banks now plan on governmental support in future crises signify any shift in the way banking will now be done? Should credit rating agencies even be including this in their analysis? How drastic a failure was this for Main Street compared to the windfall Wall Street enjoyed?

Why the Dollar's Reign Is Near an End

Dr. Eichengreen, the George C. Pardee and Helen N. Pardee professor of economics and political science at the University of California, Berkeley, argues that the dollar is soon to lose it's role as the primary reserve currency.

He claims that the extent to which the market remains dollar-centric is surprising, given that the three primary tenets that lend to its prominence are eroding:
o The singular depth of markets in dollar-denominated debt securities
o The fact that it is the world's safe haven in crises that investors instinctively flock to
o The dearth of stable alternatives it has always enjoyed

Eichengreen cites that each of the above are quickly fading.