51 Comments
 

I don't personally consider law interesting, and it's not really "corporate".

Corporate Law is pretty corporate.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
 

Telecommunications. Left financial services and love it here. None of the SJW, but you get a blend technically heavy colleagues. CS has been all the rage here in CA, but there's a heavy set of high intelligence left in hardware which is refreshing to see firsthand 

 

Oh I'm not in IB anymore. I was in a coverage group focused on telecommunications / semi's equipment and foundries. There were no telecom's specific technicals for getting the IB job. It was a tech coverage role where I slotted into the hardware sub-sector. 

I was talking about my current role. I've left IB and now I actually work in telecoms industry. I run a down stream semi's equipment manufacturer. 

 

Is it growing though? We lost SO much money on Frontier, and with the T-Mo/Sprint merger it feels like there are very few players now.  S&P/MSCI even decided to drop it as a GICS sector for Comm. Svcs.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
 

Good questions, but the question of "is an industry growing" is honestly one of the biggest misnomers of all time. It's often asked by fin services guys (ie consulting, IB, buy-side). As an owner operator, it's up to me to follow the cliche of "skating to where the puck is going to be"

Do I care that if the overal industry I'm in shrank from 70 billion to 68 billino last year? No becasue I own a very small fraction of that market share as a whole. I'm at the stage where I'm consolidating other companies and trying to grow market share. If i were apple, i'd be worried if the smart phone market starts dipping at a 3% CAGR. If I'm a no name dude selling 500k smart phones   a year, I'm not so worried. 

Put another way, as a private company I'm not going to complain if my k-1 distributions this quarter were 1 million versus 1.1. 

 

Real estate, food and beverage, automotive, and aerospace seem pretty cool. Defense could be added, although some people have negative thoughts about the military.

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at
 

FIG is cool. Complex, high barriers of entry, requires good understanding of regulations but if you understand them well there is a lot of money to be made in the space given it's scale. Sure people that jerk off on PE exits may not like FIG as much (and even then now you see some Banks/Insurance/AM/Fintech/Leasing LBOs/Sponsors activity) as it's a niche but being in a niche can be a good thing - you are an expert where you are almost necessary!

 

Very bias personal view, but pharmaceuticals and biotechnology are one of the coolest industries out there. The bad press is mainly focused on the US and even there, it is a fair mix of pharmaceutical companies increasing their prices, but also insurance plans not covering/restricting access to certain drugs. The science is one of the most interesting parts. Not sure how much of that you get to experience in IB, but it is an industry worth looking into a bit more.

 

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