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Career Resources
Any predictions for presidential nominees? Hillary seems like the obvious answer for Democrats (unless Biden pulls a fast one), while the GOP currently seems pretty fragmented (Huckabee, Romney, Bush, Cruz, etc), but have a bit more of a selection than they did 2012. And who's your currently favorite candidate?
Favorite color that isn't green? And finally, who is the most interesting person you've ever had a conversation with?
Lehman green is my favorite and dollar green is my second favorite.
Believe it or not, Joe Gregory. He was a dynamic person who could talk at length about a large array of topics. He was funny too.
Any new year's resolutions?
Also, could you give some advice on role transitions (not career transitions). For example moving from an individual contributor role to a management role or from an execution role to a relationship building (origination) role.
Thank you
The best way to transition roles, is to start doing the role before you are formally offered the position. Want to be a rainmaker? Start bringing deals in......don't wait until someone tells you that you have to start bringing deals in to get a meaningful bonus. Want to be in management? Start developing and guiding your team before you are given the formal posiion. That's how you'll position yourself well for the job you want.
Any New Years resolutions? Drink less? Drink more? Drink different?
Do you follow a high-protein/low-carb diet to keep yourself slim?
If you could give one piece of advice to an incoming S&T summer analyst at a BB, what would it be?
Can you do the same for an incoming BB IBD summer analyst?
Dick, PeeholeFarts here.
Thank you for your contribution to this forum. Your posts are educational and very entertaining at the same time.
I'm curious, what's your favourite cereal?
Cinnamon Toast Crunch....delicious.
if you are a young person just starting out in finance today, where would you put yourself? Where do you think is the best place in finance now that offer the best future growth opportunity?
Depending on your personality, I actually think wealth management is a decent career choice as well. The compensation potential there is still good and it is one of the only truly entrepreneurial positions still left in big banks. (@"thebrofessor" care to add to this?). The problem is that it is tough to get going unless you join a team or already have a good network of people that would buy from you. It's not ideal coming directly out of school either, nobody my age likes to give money to people younger than their own kids.
don't get me started DF, this could turn into another blog.
short answer: if you're comfortable working your ass to the bone for a few years trying to make rain, then yes it's a great career, and I personally think aside from being a surf instructor, it's the best career in the world.
things to consider: how much do you know about the business? are you comfortable in sales? do you have a passion for investing? and I mean investing, not just modelling and talking about TSLA and TWTR. are you ok with getting rich slowly (by this I mean you will not likely break six figures until your late 20s/early 30s but will have much steadier income than your friends in other industries)?
the biggest thing young people have to get over is the selling aspect. many smart people belittle sales, thinking it's beneath them. if you're comfortable with sales and know what type of work it takes to make it in this business, then go for it.
I think WM is a great career for someone in their mid/late 20s, probably not straight out of UG though. If it is straight out of UG, start as a sales assistant/analyst and try to get noticed by a team after several years.
Yeah I can not tell you how many times I have been called out by people on the phone for "sounding" young!
What age are you if I may ask?
What age are you if I may ask?
I'm stuck at a Big 4 auditing. Most efficient/effective way to break into HF/finance in general?
What is your favorite non-Dick Fuld post on WSO that has been posted somewhat recently? Favorite finance book?
Probably the one about asking if a man bun is an appropriate hairstyle for finance.
Hey Dick, care to share your thoughts on Hank Paulson? Lol
I've seen you make several remarks before in regards to commercial banks before, but I just wanted to know, what are you thoughts careers in commercial/corp banking
I never worked at a commercial bank. Obviously, it's a much steadier job than anything at an investment bank, but to me, it's just too boring lending out money to the top tier credits where there is such a small return involved. If someone else feels differently, that's fine by me too.
What did you learn from the worst mistake you made in your career (whatever that might have been)?
Thanks alot for doing this.
In your experience, how would a top target, physics major without finance work experience to break into ER/trading?
@"DickFuld"
I've been through 3 superdays, no offers so far but I'll keep working on it. I'm trying to find out what sets someone apart from the rest - Is it my 1) Story 2)Passion for markets 3)Technicals
Huge thanks for doing this Dick, really enjoy reading your responses.
I was reading about how Lehman had to move their trading floor from the world trade center to a hotel in Jersey City in lieu of the 9/11 attacks. Out of curiosity, I was wondering what that process was like? How the hell were you able to get a working trading floor up and running only 48 hours after the attacks?
To wire our new trading floor so quickly was a Herculean effort. One employee went out as soon as the attacks happened and bought as much copper wire as he could find. If it wasn't for that, who knows what would have happened to us. The general feeling at Lehman and probably in New York in general at that time was that we neede to get back to normal as quickly as possible. The efforts that our employees put in after 9/11 were nothing short of heroic to get us there.
I'll be heading to business school in NYC this fall, returning to the US after 13 years in Latin America. Any advice on how to get the most out of the experience, both socially and professionally?
@opsdude
Go outside your comfort zone. A lot of people from LATAM only associate with other people from LATAM...but the people who have the most fun, and end up with the best jobs, are people who talk to everyone.
First off love your commentaries.......What is your advice for someone coming out of the military that is seeking opportunities in the industry?
How was your experience at NYU? What did you like/dislike? What's your opinion of the school today?
How did you manage to rise so rapidly within Lehman? Any specific examples of how this played out for you?
I rose because of a number of factors, some in and some out of my control. I worked really hard which helped. I was also tied to Lew Glucksman who was a true Wall Street legend. That probably helped me more than any other single factor. That being said, clearly I did something to impress him so that he brought me with him early in my career.
Thank you for the answer DickFuld! (SBed as it is much deserved!!!!)
About the HF path--which strategies do you think are more sustainable/profitable going forward? I don't mean to ask for a prediction of future market situations and which strategies can perform better under these circumstances; but rather, I was wondering if there are particular strategies that have become way too crowded (equities long short? Im just guessing here...) or that have become unsustainable going forward due to changes in time and market (futures speculation?)? It seems activist and distressed have done well in past decades, but partially because they were quite new. What would you say are on your radar now?
Thanks DickFuld!
Fuck one, marry one, kill one- Ray Dalio, Ken Moelis, Raj Rajaratnam, go!
Who do you think will win the oscars this year (Actor/Actress, Supporting Actor/Actress, Best Film, Best Director)
What is your favorite movie for 2014?
Which third world country has the best pay for sex programs?
Are you planning a trip? Your Mom was pretty good, so wherever she's working would be a good choice.
Shit, i didn't know my mother and Kathleen worked together
Hey Dick how did you come across the mentors you have had in your lifetime? How did you approach them and ask to be a mentee?
Ha, well good thing I asked before I went and made a fool of myself!
Hey Dick, where is uncle eddie these days?
@"Edmundo Braverman" @"andylouis" @wallstreetoasis.com
What do you think about going into PE straight out of UG?
If one's goal is to be in PE eventually, does it make sense (if given the chance) to take the PE job instead of the 2 year training in IB and may or may not be able to make the jump after?
Still lurking and feeding Patrick ideas when I can. Would love to spend more time here but I'm in the midst of a quixotic adventure to get the C-suite to stop focusing on short term results, narrow the pay gap between CEO and janitor to something more reasonable than 354:1, and generally stave off the coming GINI coefficient bloodletting.
I'll let you guys know if I'm able to move the needle.
What are your opinions on Canadians?
Mr. Fuld,
Thanks for taking the time to do this AMA. My question to you is, "What set you apart from your coworkers in the beginning of your career?". Thanks
@"DickFuld", do you consider "face-time" as essential to being a successful employee in a firm?
It seems like when analysts work the so-called "100 hours a week," some of these hours are just wasted as analysts are forced to put on "face-time" at the office, with nothing productive to do.
If that doesn't seem reasonable, go generate some revenue yourself and come and go as you please. Nobody will really care at that point.
Excuse me sir, but I would like to know if you are truly Richard S. Fuld, Jr.
http://www.wallstreetoasis.com/forums/best-hairstyles-for-corporate-env…
PMd you my Q
Love that you're doing this Mr. Fuld! As a freshman in college, what is the best way to begin building a professional network?
Can you start building some contacts? Probably. You could start reaching out to industry alums and what-not, but my guess is that seems a little early. Maybe some younger people closer to the situation could provide some guidance......it has been a while since I was in this situation, to put it mildly.
Hey Dick, are you connected to Hank Paulson on Linkedin?
Recommended reading? Did you take a part time job as an undergrad? Why is Mayweather ducking Pacquaio?
@"DickFuld"
Fixed Income/Equity Research or Trading?
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