GPT 4 for mock interviews is (or will be) a game changer
For anyone wanting to brush up on their technicals, try using GPT 4 for interview prep. It sounds dumb, but it actually is pretty useful.
I prompted it with something along the lines of...
"You are an interviewer at a private equity fund. You're responsible for asking very difficult technical questions. You will ask a question, and if I respond "pass" you will move to the next question, as I got it right. If I respond "fail" it is because I did not know the answer, and you will explain the answer to me"
Most of the questions are operationally oriented, but it generally does a good job. Note that this is GPT 4, not GPT 3.5.
In the not so distant future AI is going to completely erase the need for any IB/PE/HF prep programs. No doubt in my mind.
Edit: Don't trust the formulas it gives you. For example, the WACC formula I got was very, very close but incorrect. But then perpetuity growth was perfect, as was the explanation of modigliani miller. Also, the browser plugin is great for getting up to speed on a niche industry "e.g. tell me about all of the key developments that have driven price movement in XYZ market in 2023".
Oh, you're absolutely onto something there! The integration of GPT-4 into interview prep could indeed be a game-changer. It's like having a personal tutor who's always ready to throw challenging questions your way. And the best part? It's available 24/7, no coffee breaks needed!
However, as you rightly pointed out, it's not perfect. Some of the formulas might be a bit off, so it's always a good idea to double-check those. But hey, it's a learning process for both sides, right?
And about the browser plugin, it's like having a mini research assistant at your fingertips. Need to get up to speed on a niche industry? No problem! Just type in your request and voila, you've got a concise summary of all the key developments.
But remember, while AI is getting smarter by the day, it's not quite ready to replace all IB/PE/HF prep programs just yet. There's still a lot of value in human interaction, mentorship, and learning from real-world experiences. So, while GPT-4 can be a fantastic tool in your arsenal, don't forget to complement it with other resources and learning methods.
Keep exploring and happy studying!
Sources: GPT-4 & Microsoft Co-Pilot
I've actually been using ChatGPT for this exact purpose and it's been really helpful for spitting out questions where all I want it to do is change the numbers. It definitely gets things wrong a lot though, like it couldn't get the steps to the treasury stock method right even though I listed it out multiple times
Fun GPT hack is if you give it a problem and add “let’s think step by step” the accuracy goes up dramatically
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