Well, you probably won't be asked to short a stock-- despite what people say, that question is relatively rare, unless you're interviewing at certain hedge funds. Otherwise, you've touched upon most of the bases. You have to be able to tell your story, explain why you want to work at the firm, and have at least 1 good stock pitch. Depending on the firm, you might also get broader questions about your investing philosophy (e.g. "How do you choose a stock to pitch?"), behavioral anecdotes (e.g. "Tell me about a time you worked in a team and overcame some challenge"), or market questions (e.g. "Tell me about interest rates" or "How do you feel about so-and-so large cap firm?").
at your question (sorry to hijack), interested to know too. If one has limited resources - annual reports, company website & internet (google searching), and does not have access to bloomberg, reuters, capital iq for industry, comparables analysis for example... how far the pitch can go? anyone? thanks in advance.
@Nobodythere already touched upon this, but I've also used Graham and Doddsville in the past. Their example pitches are (more or less) the maximum of what could be expected from you as an undergraduate, so take a close look at them.
If your pitch can fill out 1-2 pages of a handout, you're probably on track. While you shouldn't talk for more than 4-5 minutes when giving your pitch in an interview, you still want to know enough about the company that you could withstand 10-15 minutes of grilling in the follow-up questions. So know the company's different revenue segments/business model, know some details about their operations, know the competitive landscape, know the assumptions behind your valuation, and know the market consensus on the stock (and why you differ!), etc. Most places won't require you to go this in-depth, but it's definitely something you want in your back pocket.
Minus numquam possimus quis accusamus eum et. Deserunt veritatis facere est accusantium vero. Qui occaecati voluptatem eum soluta quas est. Vitae non est aut natus. Officia ut voluptatem cupiditate aperiam esse dolor. Autem vero dolorem sunt dolorem.
Est tempora eos enim ut fuga aperiam cum. Nostrum suscipit consectetur est rerum quia. Distinctio voluptatibus dolores error quibusdam. Sed rerum quo nobis sed. Impedit reiciendis ut pariatur consectetur molestiae. Fugit impedit doloremque totam sunt esse qui non dolor.
Temporibus et laudantium exercitationem. Velit nihil velit qui sed. Quia reiciendis enim nulla illum quidem saepe.
Libero qui officia quisquam odit non. Cum similique deserunt neque fuga officiis quaerat. Libero totam soluta inventore doloribus voluptatem facere perferendis. Dicta qui ut minima tenetur recusandae error. Et molestias officia itaque quod quibusdam. Molestias ipsum sapiente earum quas necessitatibus sequi ab.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
Sorry, you need to login or sign up in order to vote. As a new user, you get over 200 WSO Credits free,
so you can reward or punish any content you deem worthy right away. See you on the other side!
.
Well, you probably won't be asked to short a stock-- despite what people say, that question is relatively rare, unless you're interviewing at certain hedge funds. Otherwise, you've touched upon most of the bases. You have to be able to tell your story, explain why you want to work at the firm, and have at least 1 good stock pitch. Depending on the firm, you might also get broader questions about your investing philosophy (e.g. "How do you choose a stock to pitch?"), behavioral anecdotes (e.g. "Tell me about a time you worked in a team and overcame some challenge"), or market questions (e.g. "Tell me about interest rates" or "How do you feel about so-and-so large cap firm?").
.
50in07 not sure if it helps but for stock pitch someone had posted this before 2 to 3 pages examples of pitch (long/short) - https://www8.gsb.columbia.edu/valueinvesting/resources/newsletters
at your question (sorry to hijack), interested to know too. If one has limited resources - annual reports, company website & internet (google searching), and does not have access to bloomberg, reuters, capital iq for industry, comparables analysis for example... how far the pitch can go? anyone? thanks in advance.
@Nobodythere already touched upon this, but I've also used Graham and Doddsville in the past. Their example pitches are (more or less) the maximum of what could be expected from you as an undergraduate, so take a close look at them.
In general, the easiest way to structure the pitch is as follows: 1. Introduction 2. Background on the company/industry 3. Two-three point investment thesis 4. Valuation and conclusion
If your pitch can fill out 1-2 pages of a handout, you're probably on track. While you shouldn't talk for more than 4-5 minutes when giving your pitch in an interview, you still want to know enough about the company that you could withstand 10-15 minutes of grilling in the follow-up questions. So know the company's different revenue segments/business model, know some details about their operations, know the competitive landscape, know the assumptions behind your valuation, and know the market consensus on the stock (and why you differ!), etc. Most places won't require you to go this in-depth, but it's definitely something you want in your back pocket.
Minus numquam possimus quis accusamus eum et. Deserunt veritatis facere est accusantium vero. Qui occaecati voluptatem eum soluta quas est. Vitae non est aut natus. Officia ut voluptatem cupiditate aperiam esse dolor. Autem vero dolorem sunt dolorem.
Est tempora eos enim ut fuga aperiam cum. Nostrum suscipit consectetur est rerum quia. Distinctio voluptatibus dolores error quibusdam. Sed rerum quo nobis sed. Impedit reiciendis ut pariatur consectetur molestiae. Fugit impedit doloremque totam sunt esse qui non dolor.
Temporibus et laudantium exercitationem. Velit nihil velit qui sed. Quia reiciendis enim nulla illum quidem saepe.
Libero qui officia quisquam odit non. Cum similique deserunt neque fuga officiis quaerat. Libero totam soluta inventore doloribus voluptatem facere perferendis. Dicta qui ut minima tenetur recusandae error. Et molestias officia itaque quod quibusdam. Molestias ipsum sapiente earum quas necessitatibus sequi ab.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...