Boutique Long-only Equities Investment Management phone interview

I am a sophomore at a target. What can I expect to be asked on a phone interview? This is the description: • Gather financial and other public information regarding companies in a specific industry for review
• Assist in the gathering of management information at the executive level and below including conducting analyses of management incentive programs/stock ownership
Perform several valuation exercises including ROIC, ROE, long term growth and margin prospects etc.

Thank you.

6 Comments
 
Best Response

I would ask you basic questions about where you would find that data, what kind of complications you might expect along the way (and how you would solve those issues since I don't want to hold your hand) and then some basic finance and valuation questions about the third bullet point (calculating those, making sure you are fluent enough in the basics, etc.). There might be some questions about comps if you are doing industry analysis. You definitely need to know your way around financial statements including proxy statements, but it shouldn't be too complex.

Good luck on the interview

 

Have one prepared for sure. I wouldn't expect them to ask until after the phone interview, but you never know. I had a very similar internship and they asked me for a pitch at the in-person, and although they said it wasn't required, I'm sure it helped my case that I had one ready.

Most of the questions should be general market knowledge (what's the S&P/dow at? where would you get a company's 10-q from?). Obviously, have good explanations for what ROIC, ROE, etc. are and how to find them.

 

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