Mike Ross in Investment Banking
Picture this: You reluctantly agreed to meet for coffee with a young hopeful from South Carolina State University. Despite having no background in finance, he says he is passionate in pursuing a career in investment banking, so that's hard to ignore.
The two of you find yourselves at a Starbucks, where amidst the clatter of cups and chatter, he hands over a copy of Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Rosenbaum, urging you to pick a page—any page—and read aloud. Your initial reaction is a mix of amusement and disbelief. "What is this, an episode of Suits?" you jest, yet you find yourself drawn into the proposition despite your reservations.
You start reading "The staple is targeted toward financial sponsor buyers and is typically only provided for private companies. Although....."
".....prospective buyers are not required to use the staple, historically it has positioned the sell-side advisor to play a role in the deal’s financing." he interrupts, flawlessly reciting it word by word.
You are shocked and think it might be luck, so you flip to a random page, 118, and start reading: "Synergies represent tangible value to the acquirer....."
".....in the form of future cash flow and earnings above and beyond what can be achieved by the target on a stand-alone basis." he interrupts in again and recites it flawlessly.
You ask him how he knows this while going to South Carolina State University, but he says he always wanted to work in Investment Banking, but he got an expulsion from high school since he helped the Dean's daughter in cheating. So now he makes extra money doing mock interview practice with kids from Wharton.
Now, he asks the big question... "Can you referal me to get a first round interview?"
What do you do?
Gotta refer him, game is game
Full disclosure, I work at Baird
To practice law you need to pass the bar; not so in finance. Bring him aboard and announce to the world that you’ve hired a super genius who caught a bad break. Might even win you a deal or two.
Gets banned from the industry by FINRA for doing deals without a license.
EDIT: Canonically, btw, he was an investment banker before becoming an unlicensed lawyer.
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