Silver BananaTopicReplies
Goldman Sachs - Interview - Investment ResearchQuestions were mostly based off of your resume. Asked me some specifics about the regression models that I used in my prior research and the assumptions that I used. I had done some behavioral economics research in the past so he also asked me why I decided to make the switch to finance research. On...
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Feedback on Valuation Attempt (Costco)Hi I am currently trying to teach myself financial modeling, wondering if anyone would be willing to provide some quick feedback on an attempt at modeling Costco?...
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How do I Break into Financial Services in the Boston Area?I am looking to break into the financial services sector and was hoping to find out if you would be willing to provide some advice as to how to go about doing so? I am a first-year MBA student with an undergraduate business degree who is in search of an entry-level position. I have interned for a fi...
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FBR Investment Management - Interview - HealthcareNo unexpected question, most questions are average and typical questions to be asked during an equity research interview. The most technical one is to estimate the market size for a technique that seems most interesting to me in the current biotech industry, which is gene therapy in this case. Follo...
Robert W. Baird & Co. - Interview - Equity Capital MarketsYou will get grilled on your stock pitch by at least one interviewer. He/she will pull it up on Bloomberg or FactSet or whatever and ask you about the technicals behind it. So keep up to date with news on your stock and know the big numbers. Lots of brainteasers as well. Predict how many sneakers ...
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ER Post Final Round Interview (off-cycle)Just finished a final round with a boutique this Monday. This was an off cycle position on a team looking to replace an associate whose leaving. Had some great feedback from the senior analyst on the team who said they were looking to fill this role ASAP. I was asked throughout my rounds when my ava...
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GS gap year intern GIRHello everyone, have anyone applied GS GIR gap year intern and got any interview before? I will have interview with GS soon, and can anyone share sth about it? thanks....
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Best accounting books or courses for stock investorsHey guys, The title says it all: can you pls recommend accounting books or courses that are useful for equity investors, essentially what to look at when a potential stock investment is screened. Thank you...
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Big 4 to Equity research.....what are some possible routes? Im only a 2nd year in big 4 audit so I know manager in big4->Mba->ER might beone route but I cannot stick the job anymore....No way I am sticking around until manager. So what are some alternatives? Im willing to start from the beginning (e.g. internship)....
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Needham & Company - Review - N/AGood work life balance for the industry. Senior analyst is good at mentoring and allowing me to run with projects.. Outdated/slow technology. Some dislocation between senior management and sales and trading/research....
Credit Suisse - Review - Technology, Media and Telecom (TMT)better hours if on better team, able to plan your schedule, more qualitative work, exposure to VPs or MDs if you work with one in your team, able to later move on to clients, less tough rigorous than banking. less quantitative exposure, earnings season is tough, research is undertaking structural de...
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Interview Question- What would happen to the world economy if US throws nuclear bombs at North Korea?I was asked this in JPMC. Here's what I told them- There will be capital flight from US as the confidence in the economy goes down because of fear of retaliation from North Korea and investors would flee to safer haven like Europe. This would lead to depreciation in USD. After that, even South Kor...
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Morningstar - Review - Technology, Media and Telecom (TMT)Phenomenal work/life balance, ability to move up quickly and gain client visibility with both institutional clients and media.. Pay, pay, pay. Base salaries are below market value, and the bonus program is pitiful with little tieback to actual performance....
Jefferies & Company - Interview - Technology, Media and Telecom (TMT)I made a long pitch during my phone interview with the lead analyst. He grilled me on my investment catalysts and refuted that one of my points was not a catalysts and that in his experience the opposite is true. I substantiated my statement and stuck to my original theses. With prior experience i...
Deutsche Bank - Interview - Natural ResourcesNot a lot of real surprises as I already had experience. Most difficult was defending a call our team had made that was the opposite of the hiring team's recommendation. Another difficult conversation/question was on the area of compensation. I was underpaid at my current firm, so apart from naviga...
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Bloomberg Intelligence Research, Thoughts? I'm currently an equity research associate covering the technology sector for a boutique. With an industry that's consolidating and the upcoming MIFID regulation, it looks like Bloomberg is positioning themselves to provide investment value with their own in-house research. The research arm, Bloombe...
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Moving from SIG ER to HF (equity)Hey guys, I have recently received an offer from SIG in their equity research division. In a few years I would like to move to a good HF (between $1B-$10B). Specifically looking at L/S, fundamental value, etc. Is this realistic? How is SIG ER with regards to placement? Does it matter whether it is B...
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Raymond James Financial Inc. - Interview - Equity ResearchYou should brush up on accounting before the interview, the questions weren't difficult per se but could easily catch you off-guard if you haven't looked at financial statements in a while. You should know to explain the structure of the three financial statements and know what kind of changes certa...
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Incoming Equity Research Associate - Series 7, 63, 86, 87 Exam Study Materials - STC? FINRA? Mometrix? Hey Everyone, I'm a newcomer to Equity Research and will have to complete the Series 7, 63, 86 and 87 exams coming up. Does anyone have experience and recommend specific study materials they used? I've heard people using the STC materials for the 86 & 87 and sometimes for the 7 & 63 also. All of t...
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Advice From a Seasoned Equity AnalystRemove this post. It is 5 years old, out of date and I keep getting messages about it! Thanks v. much ...
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What Causes Stock Price to Rise or Fall?I get that when investors sell the stock the price of the stock goes down and vice versa... but isn't a typical investor selling the stock back to the broker dealers? AKA every time someone is selling a stock someone on the other side has to buy it? In other words, there are a set number of shares...
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SB for Healthcare/Pharma/Biotech Industry PrimersI am looking for some healthcare/pharma/biotech primers, primarily from BBs. If anybody can provide copies of the most recent editions, particularly Deutsche Bank's "Global Pharmaceuticals: Pharmaceuticals for Beginners", they will receive 2 SBs for each primer. PM me please if you have any primers....
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Capital Group - Interview - Investment ResearchThe most difficult questions asked as what do you think is the misperception about the rates market in Asia, has there been a time that you have to speak against majority of the group. Interview started with some self introduction. Interviewers are very nice, two analysts, one senior and one junior,...
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2018 Rating Analyst Internship program- HELPInterviewed with a rating firm for their SA position last week (10/25) on campus, the final interview was two 30mins back to back with associate directors. Received an email a day before actual interview stated that I will find out the decision by 10/31/17, which is today. As of now, I haven't heard...
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T. Rowe Price - Interview - Equity ResearchI would recommend that you read an investment book - or at least know about an investment book - before going into the interview. He point blank asked me "so tell me what sort of books on investing you've read?" Be prepared with a book, why you liked it, and how it has impacted your investment style...
Needham & Company - Interview - Equity ResearchThe interview was relatively straightforward. I did not get any technicals and got standard behavioral questions. I was first asked to introduce myself and describe my background. I then got asked about three words friends would use to describe me. After that, I was asked what in particular about th...
Morgan Stanley - Interview - Equity Research1. What's your process in reading the newspaper - do you read certain sections or follow certain industries. 2. What discount rate would you use for a mining company? What does the street usually use and what's your opinion? 3. What's the market trading at? What do you think about the current market...
Susquehanna International Group - Interview - Investment Banking1. How many raindrops fall every year? 2. Five guys walk into a bar, how many ways can they sit so as to be arranged from oldest to youngest? 3. If you have 8 marbles and one is lighter than the rest, using a scale how would you figure out which one it is in two steps? There are many different v...
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Activision Blizzard: How to project RevenuesHi all, Im currently working on a personal project related to Activision Blizzard. Now im trying to understand is the company KPIs as a way to project the revenues. What is the correct way to look at this company?, project MAU? or perhaps their most important IP? Thanks a lot....
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Nomura Holdings - Review - Technology, Media and Telecom (TMT)Good people and culture. Generally good work life balance. People are respectful of each other and no big ego. . Senior management departure. Comp is slightly below industry average. IT is on the weak side and not enough 3rd party resources. ...
Morgan Stanley - Interview - N/AI was asked to do a stock pitch and some technical questions, which I was not expecting. I was also asked some regular behavioral questions, like my strength/weaknesses and about my past experiences. I was asked about the 3 financial statements: income sheet, balance sheet and cash flow statement. I...
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Importance of modeling courses (BIWS, WS Prep, etc.) for ER?answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered. ...
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Goldman Sachs - Review - Investment ResearchGood group excellent management great colleagues decent travel opportunities good client interaction. poor communication amongst team role was based in a different location which made communication difficult...
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Interview for Evercore S&T ER Sales Summer analyst 2018 Please HelpI just got a interview for Evercore ISI equity research sales, can someone shed some light on it. What should I expect at the interview?...
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Credit Suisse - Review - Equity ResearchA large amount of resources available to conduct equity research. Associates have the chance to work with strong Analysts. Due to Credit Suisse's size, there are many corporate restrictions that equity research often has to go through...
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Goldman Sachs GIR Superday Stock PitchOn October 30th I have a superday for Goldman Sachs GIR internship. It is three 30 minute interviews, it the email it explicitly stated to have a stock pitch prepared. How prepared should I be with my pitch from your past experiences?...
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goldman intern and personal relationshipsdo interns in goldman have breaks during the day? my boyfriend works till late in the night but never messages me . i'm starting to think it's a fake relationship. are interns really busy at goldman that they can't say hello to their girlfriends. i said hey to him yesterday he replied but didn't bot...
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UBS AG - Interview - Generalist- What are the regulatory pressures our firm is facing? - Tell me about a situation where you learned the most about your strenghts and weaknesses - Why should we hire you over other candidates? - How many light bulbs are there in the UK? - How would you invest USD 100,000,000? - I just woke up from...
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Semiconductor and software financial modelling - need a mentorHi everyone, I'm looking for someone who can mentor for financial modelling for semiconductor / software. Is anyone available? Please PM me...
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Susquehanna International Group - Interview - Equity ResearchThe most difficult questions that were asked were "Have you looked at our website? What did you find interesting about it?" Just checking to make sure you've done your research on the company. They also asked about "Why equity research?" "why SIG?" Overall, nothing to difficult. They definitely like...
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Boeing 3Q HighlightsBoeing 3Q results beat estimates; EPS: $2.72 vs. $2.66 (est) and revenue: $24.3 billion vs. $23.9 billion (est). It has also raised the 2017 EPS outlook by 10 cents. For now, Boeing clearly leads in orders vs. Airbus with 498 at the end of September compared to 271 for Airbus. It also has trade disp...
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Bloomberg Email Format?Does anyone know the email address format for Bloomberg Intelligence? Want to reach out to a few alumns but can't seem to find any info on WSO or any other sites....
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bcIMC - Interview - Equity Capital MarketsWhat will you do if you had $100 million? (They want to hear how passionate you are about the industry. Show your passion not knowledge) Why do you think the company you analyzed would have a lower p/e than the next comparable public company? What do you expect to be doing in the next 5 years? ...
Morgan Stanley - Review - N/AI love it. The people are very easy to get along with, the work is interesting, and they take pretty good care of you.. The promotion process can be slow and career development is heavily dependent on your analyst. Cost cutting measures have affected work quality to a degree. ...
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WACC and negative equity - please help!Hello, At first, I want to excuse for my weak English (I’m a foreigner student). On my course, I have to find an information, how to solve a problem with WACC. How WACC should have been computed, when Equity is negative? I have a problem with that, because the company is “Ltd.” – I am able t...
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PEG based valuationI'm looking at a sell-side report where the analyst hasn't shown his work, and my boss won't explain because he thinks PEG ratios are meaningless. Can someone just walk me through the logic here? *We arrive at our price target of $100 based on a 2018 target P/E multiple of 25x (based on global pee...
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Mining and metals researchI am a geologist that has worked in mining/metals for nearly 10 years. I have experience across the whole value chain and I am currently completing my MBA from a UK university. How would you go about moving into the finance side of metals, either as an analyst or working in equity raising. Thanks...
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PhD, engineer to Equity Research Hello. I am seeking some advice on breaking into ER from the experienced Monkeys here and would appreciate any input. I want to know if there is anything I can do besides networking like crazy. Do you think if it is beneficial to get my feet into finance first like some quantitative positions if ...
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Hunting for live project opportunityI am an MBA candidate at India and interned with Goldman this summer. To further solidify my profile, I am hunting for live project opportunities in research. Please PM me and I will be happy to take it forward from there....
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PricewaterhouseCoopers - Interview - Management ConsultingCase question with 5 page PDF. Sends beforehand. Make sure to know everything about this pdf, will be expected to. Then go through client situation and explain what you would recommend and what your reasons are. Behavioral was pretty easy, just normal questions. Nothing unexpected. Really enjoyed ta...
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Intern CompI recently had a first round interview with a MM bank for an ER internship. They asked what my target comp would be, and I said "market salary, 35-40 an hour" because that's what it is at BBs. They said it would be more like 17-20 an hour.. Is this normal? Does it reflect comp at the full-time level...
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Deutsche Bank - Interview - MarketsI thought it should be mainly competency based questions, since this is just graduate level. But there was a lot of finance-related ones, although not too difficult if you have somewhat learnt finance as a subject somewhere. It was difficult for me since I only prepared technical questions for equit...
National Bank Financial Group - Review - Equity Research-lots of chances for opportunity and moving around -Good company culture, strong mentorship -highly ranked in the region with leading market share. -work output not necessarily correlated with praise or pay -quiet environment, uncommon extracurriculars...
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Breaking into equity research - Graduating senior from a non target well I am a graduating senior from a non target, with two internships under my belt, one is on the research side for a big wealth management firm and the other was an overseas opportunity in africa in which I might add was a great experience. I am looking to get into equity research and will start ...
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Morgan Stanley - Review - Equity Research* collaborative culture * excellent product / coverage groups * top tier client base * good exit opportunitie . * difficult to get promoted * long hours * old technology * bureaucratic with expected level of officepolitics ...
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Meal AllowancesDo equity research associates typically get a meal allowance similar to how IBD analysts do? At bulge-brackets and middle market banks, specifically....
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Chances of hearing back and making the cutHi everyone, I'm a sophomore at a large non-target school in the southeast. I've applied to equity research positions at BB for a summer internship. I'd like to hear you thoughts on my stats, feel free to criticise any problems you see or add your suggestion. Economics Major minoring in mathematics...
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Scotiabank - Review - Equity ResearchGood work-life balance, challenging interesting job with a lot of exposure to clients. Independence of investment theses.. Low wage compared to bulge bracket banks. Equity Research is an interesting job but not a direct revenue contributor (only soft dollars)...
Fidelity Investments - Interview - Equity ResearchDuring one of the superday interviews, I was asked how I would invest $100,000 if I got it right now. This was even before I introduced myself or anything, so I was kind of caught off guard. I was also asked about how proficient I was in excel and coding, but did not have any technical questions in ...
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Advice for after Equity Research? Hi Everyone! I am a sell-side research associate in Canada, covering the mining industry (quite big here). My two year term will be ending next June, and I wanted some advice on the different roles I have available to me. My strengths are writing reports and generating unique ideas. I am very open ...
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Introduction !Hi all, Just writing to say hello and glad to be part of this community. I am looking to gain more internal insight regarding the equity research and portfolio management industry. Looking forward to being part of this community. Nico A. ...
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WS-Prep 3-statement Question - Segment Growth SetupHello, I have a novice question for modeling the segment portion of the IS. For those of you who took the WSP course, the example of Apply breaks down the segment section into 3 part - Products, Units, and ASP(Average Selling Price). By forecasting the growth in both Units and ASP, the new projecti...
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Morgan Stanley - Interview - Equity ResearchThe biggest part of the interview was the stock pitch-- all of my interviewers (there were 3 of them) asked me to pitch something. There were several follow-up questions to my pitch about industry trends, margins, why all of this information was not already priced into the stock, etc. My interviewe...
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II 2017 Research RankingsII research rankings out...can anyone post the full results? Any suprises? Also, for those who work with an II ranked analyst, do you get a better bonus or is there any uplift in your compensation? ...
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Shipping and offshore drilling rig valuationWhy are market values, of for example shipping vessels and offshore drilling rigs, sometimes referred to as charter-free? I've come across a research report that adjust all EVs for charter values. ...
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Perfect Earnings Prediction? I’ll Pass.How much would you be willing to pay for a model that perfectly predicted the earnings of the companies in your portfolio? According to Professors Feng Gu and Baruch Lev of SUNY Buffalo and NYU Stern –not much. In their recent article, [“Time to Change Your Investment Model”](http://www.cfapu...
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Cement Industry PrimersWas wondering if anyone could share some recent primers/reports for the cement industry. Trying to get a better understanding of the key drivers and important things to consider. Responses without a primer would also be appreciated if it could help me understand the sector more....
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Primer on entertainment industryI am looking for a primer on the entertainment industry. I am interested in Hollywood film studios, media, theme parks, show venue owners, show production group. Could anyone help please?...
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Morgan Stanley - Interview - Equity ResearchCan you pitch me a stock? Tell me about a recent piece of news that interested you. Market sizing question Can you translate this article for me? What differentiates the firm from competitors? What separates you from other candidates? Walk me through DCF What is FCF? How would you value an unlisted ...
Brandes Investment Partners - Interview - GeneralistStarted with an initial phone interview where the topics included what my background was, why I was interested in joining Brandes, my interest in capital markets. There were a few fit questions on calculating free cash flow and putting together a discounted cash flow statement (also asked about diff...
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Valuing a Publicly Traded Construction Company Hey everyone, I wanted to get the opinion of some experienced individuals on how to proceed with the valuation of a publicly traded construction company. Currently, my approach is to model Backlog growth, and tie that with revenue through the Burn Rate. Once I have my revenue figures, just kinda f...
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Diabetes Primer/ResearchHi everyone, Does anyone have any primers on the diabetes market? Any sort of research would be great - initiations on pure plays like Dexcom or Tandem, etc. Thanks in advance!...
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Markit - Review - OperationsFree Lunch Casual Attire Laid Back . Low Pay Monotonous Casual Attire Upward Mobility ...

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