I read the Economist, WSJ and other usual suspects to stay up to date on current events but what are the trends in interview questions about current events? Do interviewers want to see if you know specific details or is it more to see if your generally up to date?
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Usually, they just want to see how you articulate your thoughts and your level of financial literacy.
All you really need to do is read the left-hand side of the front page of the WSJ and then read one or two of those articles in full.
Just know the big macro stories and a few talking points about each one.
Tangentially related - there was a VP in my group who loved asking candidates A) if they follow the news, and if yes (and it's always yes), B) if they could name 3 leaders of countries beside for the POTUS... there was one superday where candidates were like 3/20 on this.
Current events for interviews? (Originally Posted: 10/23/2013)
In a bit of a pickle...haven't kept up with the markets as well as I should have these past months since summer started. What can I do to cram some near past, and current events for an interview (investment role) coming up in a few days?
Thanks guys!
Read these as far back as you want, should be plenty to catch up easily
http://seekingalpha.com/author/wall-street-breakfast/articles
Seeking alpha is great. Also know major economic news.
MBS - Current Events (Originally Posted: 01/31/2015)
With numbers coming out last week, a lot of trading spots will open up at my firm and I might be asked to interview for one in the Mortgage department so I want to start preparing now.
I've read all the primers and have been doing MBS related work for a few years now. My weak spot are questions about how current events affect certain products. (Ex. how will Mel Watts testimony to congress affect spreads for MBS products?)
I understand some of this is just common sense and that if I can't put two and two together I don't deserve this job, but I'm coming here to ask for any advice on how to hit these questions out of the park.
Thank you.
PM me.
you can PM me as well, might be able to offer some good color
News/Current Events and IB interviews (Originally Posted: 10/12/2015)
During ib interviews (specifically for summer analysts), how much do you expect candidates to know about current events in the finance and business world?
Is it really necessary to read the Wall Street Journal every day? The whole thing? Time is limited.
Is it necessary to follow the markets?
Don't read the full journal every day, that's crazy.
Know what's generally going on macro-wise. Even though it's (somewhat) irrelevant to what you do as an IB analyst, interviewers will like to see that you are aware.
It's also important to be able to speak to a recent deal that was in the news.
Bump
CAVEAT: I just realized that you are searching for a SA role. This advice is coming from someone looking into lateral recruiting. So take it with a grain of salt.
I think using the phrase "time is limited" as an excuse does not bode well with members of this board. Or with anyone else in any kind of demanding industry.
I think that MLE4444 answered your question quite well. I have been interviewing for a while with numerous banks. News topics have only come up a couple of times, and mostly if I brought them up. Macro events are probably more important to know, not just with finance, but just for your own personal knowledge. I've had questions come up about the Argentinian debt crisis, the Greek debt crisis... actually, pretty much just about debt crises. (These were for BB DCM roles.)
If you are interviewing with a specific industry group, definitely read up on that industry's news. Find a recent big deal within the industry. And, I mean, you should also have some interest in that industry.
No way in heck do I read the whole paper. I rarely read full articles (then again, I am a slow reader, shhh!). And if you don't know something, don't act like you do.
I guess people are giving you shit because the way you phrased your question was, "Ugh. Do I HAVE to read the news? Like... all of it?? I'm so busy!!!" Not the attitude to have...
Hope that this somewhat helps, though I really just reworded what MLE4444 had said.
It doesn't matter. Few people in IB/PE have a clue about the macro-landscape; instead they choose to focus on industry-specific news (which they won't expect you to know). That said, it's good to have an opinion w.r.t. to basic trends in credit markets, M&A, etc.
In my experience, most in finance aren't well-qualified to dissect macroeconomics, let alone geopolitics. But get rich enough and you can land a seat at CFR.
Best way to learn about current events in the markets (Originally Posted: 08/07/2011)
Hi guys,
I've got an upcoming final round IBD interview for next Summer.
I'm trying to develop my commercial awareness and understand everything that's happening around the world. I know for IBD, focussing on recent deals is important, but I also want to learn about the Euro crisis and the problems in USA at the moment.
My problem is that whenever I pick up my morning Financial Times I don't have a clue what I'm reading about (I'm a maths undergrad) so what would be the best way to get the basic knowledge?
Thanks
keep reading.. it will eventually click
I agree keep reading. Look online for basic articles summarizing.
For cliff notes:
Greece is broke. Portugal / Italy / Spain going broke. U.S. raised debt ceiling, got downgraded by S&P.
no watch cnbc fast money for two weeks
Go learn some general fiance terms on investopedia.com then go back and read.
Listen to Bloomberg radio throughout the day and you'll catch on.. pretty much the way I learned the basics.
Watch the pulse or inside track on bloomberg
Bloomberg, CBNC, WSJ. Read, watch, and listen.
Keep a journal. Every great man in history kept a journal. Try to write at least one good page a day.
Write down your general ideas about how you think things may work as much as you can. Then read about the thing, and find out about how your ideas conflicted with other peoples interpretations, and how things actually happen.
Also, read up on mass delusions and social psychology. Its important to note, I think, that a lot of the biggest financial events and trends happen without people realizing whats going on, i.e. the subprime bubble, tulip bubble, internet bubble etc. Learn from peoples mistakes, and from what their reasoning was for participating in these bubbles. That way, you can realize the real extent to which the best and brightest minds can really account for market movements. Buffett talks about that here from the start of the video until about 7:30
Current events and S&T type questions in IB interview? (Originally Posted: 01/07/2013)
So, when going through the WSO technical interview guide, there are alot of questions that aren't directly relevant to investment banking.
Some examples: What are 3 stocks you like? What are some stocks you would short? Where will the stock market be in x months in your opinion?
From anyone with IB interviewing experience, how common are these questions? Also, how likely are you go get a question on current events? (i.e. what stories have you been following in the Journal, what is the Dow at?)
Thanks
I've heard questions about the markets are usually asked by more senior interviewers. You might be asked about if you know any recent deals the bank (or group) has done. If something big just happened, you might want to know that.
Have been asked stock-picking questions in an IBD superday with a top BB (GS/MS). It's a reasonable question. In robustly valuing a company for IB, you should understand how headwinds/regulatory environment/news are impacting the equity valuation.
Current events/following the markets is definitely something you should know going into any IB interview- read up in the journal/dealbook/any other news source and have an idea of what is going on. Anything major you should be aware of- don't have to be an expert, but you should have an idea and an opinion. I've never been asked about stocks I would short, and that seems a little too much for IB. I have been asked about stocks I like/if I invest on my own, which I was shocked to be asked and totally butchered the question.
Hey guys! Just wanted to promote The Opportune Time. We're a free financial weekly newsletter written by Stanford students working at Morgan Stanley and JPMorgan. We write about the news in very laymen terms and provide analysis on the markets and current events. We've helped tons of students with the market part of their interviews. Take a look at our website and subscribe! IT's just the opportune time .com with no spaces!
Among other things, I was asked about current treasuries and general questions on the US economy + stock markets
being asked about current events/news (Originally Posted: 12/25/2010)
I will be applying to MBB+competitors for undergrad summer internships soon. For those who have been through the recruiting process - have you ever been asked/grilled about current events during the behavioral?
I just went through the FT for all three MBB and was never grilled about any current events that I did not bring up in the interview. That being said, if you've got something on your resume - e.g. interest in Russian politics or past research in bond markets - I'd be ready to talk about current events in conjunction with regular resume questions.
.
i always prepared for my interviews by reading published cases/articles of the respective firms (especially those related to the practice i was interviewing for), i also read up on the firm and whenever i interviewed, i would always make note of the secretaries names, etc......however i was never once asked anything related to this stuff.
The only time anything related to current events came up in a consulting interview was when, in a case, I was asked what might be appropriate for a company in this case.
I mentioned it looked like they needed to find a merger partner.
My interviewer said "Yes, that's exactly right. What kind of target would you look for?"
I responded that they needed to find a partner from an emerging market since that's where growth was happening and manufacturing was cheapest, etc. I then said "There's no way they should merge with another American company like ____"
His response "I would agree with you, except they did merge with ___, and helping to integrate the companies was the case I've based this interview on."
Somehow, I still got the offer.
thanks guys. this is good to know. i'll still be ready if it comes up but won't be worrying too much about it.
I know you said MBB, but...
I'd be especially vigilant about industry news/current events if you apply to a specific practice within a more generalist form... or if you're applying to a industry-specific boutique. I am in healthcare consulting and ask about industry trends in every interview (it's all we do, and a great way to find out if someone is actually interested in the industry).
Sources to get smart (Originally Posted: 07/04/2017)
Hey team,
Any resources you guys would recommend for getting smart on PE "current events"? I figure recent happenings/a sense of the investment environment will be helpful as I look toward recruiting, especially if I gradually build it up over the next few months.
FT has some decent coverage, but seems sporadic. Any suggestions? What do you guys read to stay sharp?
Dealbook and reuters
The Economist and FT for PE macro environment
PE Hub is pretty solid too
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