Comments (158)

May 13, 2010

Depends. The current deal I'm on is fucking excruciating. I just push through it and try to knock out all my work and work on PE recruiting/side projects.

But this deal is the exception, most of the other stuff I work on is extremely interesting and engaging, so I enjoy it. If you hate everything you work on... thats a different story obviously.... either you're just not getting staffed on good deals or this field isn't for you.

May 13, 2010
Marcus_Halberstram:

Depends. The current deal I'm on is fucking excruciating. I just push through it and try to knock out all my work and work on PE recruiting/side projects.

But this deal is the exception, most of the other stuff I work on is extremely interesting and engaging, so I enjoy it. If you hate everything you work on... thats a different story obviously.... either you're just not getting staffed on good deals or this field isn't for you.

I'm not in banking or PE.

i don't want to glorify this, but from reading various posts, it seems like people in PE and hedge funds get to work on a lot of interesting stuff, interact with clients, and go to various conferences/networking events. I'm in a group that does stat arb trading, which i find especially boring.

May 13, 2010
jjc1122:

I'm in a group that does stat arb trading, which i find especially boring.

Isn't trading supposed to be fast-paced and exciting? That's one of the main reasons I want to get in.

I work in MO and do like 30 minutes of actual work a day (much of it is automated). I can't study for the CFA out in the open or go on ESPN.com since I work on a trading desk and everyone can see what everyone else is doing...Very boring. I feel like Peter Gibbons in Office Space. What do I do? WSO and CFA studying in a very small Adobe Acrobat window.

May 13, 2010
jjc1122:

Who else feels this way about their job? I'm insanely bored and don't find my work interesting. How do you guys deal with this?

WSO, SeekingAlpha, various new publications (this is what im interested in). I feel you, I work in BO as a year-round intern at a BB... I don't find my work to be meaningful or engaging. I am glad I discovered this early in my career so I can position myself to find something in a different area (ie FO, consulting, a revenue generating division anywhere). I've been at work for an hour now and I have yet to speak with another human being.

May 13, 2010

i used to work a part-time job for a state agency and holy shit was it boring. i would get my work for the day done in about my first 15 mins and finish the rest of the day out cycling through my usual rotation of websites thanks to the magical keyboard shortcut alt+tab. my favorite sites to waste time include

the onion
fark
WSO
dealbreaker
brobible
news
419eater

May 13, 2010

Ive been at my job for almost 5 years and I enjoy coming to the office. My team is awesome and I dont mind being around these fools for 50 - 60 hours a week. I would say that the downside of PE is the cyclical nature of a deal meaning that workload and pace fluctuate dramatically depending on where you are in the deal (preliminary due diligence, bid letters, stewarding existing portfolio companies). Luckily, the IPO markets are heating up. Exit time.

May 14, 2010
junkbondswap:

Ive been at my job for almost 5 years and I enjoy coming to the office. My team is awesome and I dont mind being around these fools for 50 - 60 hours a week. I would say that the downside of PE is the cyclical nature of a deal meaning that workload and pace fluctuate dramatically depending on where you are in the deal (preliminary due diligence, bid letters, stewarding existing portfolio companies). Luckily, the IPO markets are heating up. Exit time.

Heating up? IPOs are getting pulled left and right and pricing way below the range..

May 13, 2010

First time that happend I left my job (I was in an hedge fund of funds), now it happens but because I am leaving to do my MBA and no one wants to give me new responsabilities

May 14, 2010

You just helped me reach 100 banana points!

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May 14, 2010

cat/kitten videos

speed boost blaze

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May 14, 2010
torchic:

cat/kitten videos

+1

Don't listen to anyone, everybody is scared.

May 14, 2010
torchic:

cat/kitten videos

You stole the words from my mouth. BTW, when I read the title I thought OP must be an MBA student.

Matrick:

[in reply to Tony Snark"]

Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand.

BatMasterson:

[in reply to Tony Snark's dating tip]

Sensible advice.

May 14, 2010

Do my accounting/finance homework for me!? I'll give you 10 SB's for every assignment you complete (all the answers better be right + perfectly formatted in Excel though). That pic is adorbs btw! :)

May 14, 2010
CorpFinHopeful:

read some ebooks on your computer?

Currently reading Klarman's Margin of Safety for the second time.

MissMoneyPenny:

Do my accounting/finance homework for me!? I'll give you 10 SB's for every assignment you complete.

Eh... what the hell. Send it over. I might give it a shot if it's challenging enough and if I'm still bored.

May 14, 2010

quit

I eat success for breakfast...with skim milk

Best Response
May 14, 2010

I always feel so guilty when I get bored because there's no reason to be bored in today's world. There's so much to do and learn - all for free - and I'm sitting here shit-talking people in CNN article comments.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

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May 14, 2010

ah so you're the guy...

WSO's COO (Chief Operating Orangutan) | My Linkedin

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May 14, 2010
GoldenCinderblock:

I always feel so guilty when I get bored because there's no reason to be bored in today's world. There's so much to do and learn - all for free - and I'm sitting here shit-talking people in CNN article comments.

Why would anyone read that? Cat pics are a much more *exciting* way to kill time.

Edit: You're Bateman, so just listen to Phil Collins or Huey Lewis and the News while you "read" you mags and do crossword puzzles.

Matrick:

[in reply to Tony Snark"]

Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand.

BatMasterson:

[in reply to Tony Snark's dating tip]

Sensible advice.

May 14, 2010

read some ebooks on your computer?

May 14, 2010

Just get laid, awesome feeling I promise

May 14, 2010

Thanks for the suggestions, people. I posted this thread for the times when I get sick of reading, cause' that's all I do when I get bored in office (apart from browsing 9gag in the shitter). Figured WSO might have something more interesting than that considering I posted this in the monkeying around section.

May 14, 2010

trust me on kitten videos - same goes for puppy vids.

speed boost blaze

May 14, 2010

Pick a non-finance class on Coursera, learn some cool shit.
Other option: read books on Kindle Cloud Reader. Once you go e-book you never go back.

Currently: future psychiatrist (med school =P)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

May 14, 2010
chicandtoughness:

Pick a non-finance class on Coursera, learn some cool shit.

Other option: read books on Kindle Cloud Reader. Once you go e-book you never go back.

Can you die content never having amassed a giant library of leather-bound books, each one with signs of wear and clearly used, not just purchased for show?

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

May 14, 2010

@"chicandtoughness", yup, believe it or not, doing a couple of coursera things too. I hate to say it, but I'm getting tired of being productive and in 'learning' mode all the time.

@"kidflash", yeah... I might do that. Wish R. R. Martin would hurry up already. Got any fiction recommendations? I'm open for the absolute best of fantasy, thrillers (think Bourne, Reacher - not Dan Brown/Sydney Sheldon crap). Something fast-paced that you couldn't put down.

May 14, 2010

Hire me and then when you are bored/not busy, teach me your ways.

May 14, 2010

hmmm. a bit old, but i actually really like the actual james bond books from back in the day (in terms of bourne type stuff).

dunno if you read any dystopian stuff (since it's kind of a mix of fantasy and thriller), but handmaid's tale and brave new world were both fantastic.

+1 on waiting for the new GoT season and winds of winter.

May 14, 2010

Love reacher novels. Try the Douglas Preston and Lincoln Child series. Promise you won't be able to put them down. Start with Relic and then Reliquary. Takes place in NYC. Kind of Sci-Fi/mystery/thriller. Def will not disappoint!

May 14, 2010

watch nascar time trials

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

May 14, 2010

Read the Redwall series by Brian Jacques if you are into non-fiction. There are 34 books and they are fucking unreal.

May 14, 2010

nonfiction?? i remember reading this stuff as a kid, i think. isn't it about a bunch of anthropomorphic rodents?

May 14, 2010

Do you know about StumbleUpon?

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

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May 14, 2010
GoldenCinderblock:

Do you know about StumbleUpon?

Best suggestion on this thread. +1. Exactly the sort of thing I was looking for. Gotta love Pocket extension for Chrome for sites like this.

May 14, 2010

All of this and PM me if you need real advice.

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May 14, 2010

How about a quick phone chat with a college kid? I would love to hear about some of your experiences - dead serious btw.

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May 14, 2010

...tinder

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May 14, 2010
Bateman Begins:

Already reached 4096 on the 2048 game a few weeks ago. What the hell do I do now?

Obviously go for 8192

May 14, 2010

Came here to say this

May 14, 2010

Let WSOers take you out for coffee and lunch

May 14, 2010

Get 8192, it's possible.

May 14, 2010

reddit /r/aww

May 14, 2010

Start researching other PE firms in your space and applying. If the deal flow at your shop remains negligible for any duration of time then this is a very ominous sign for an acquisition analyst/associate in particular.

May 14, 2010

This was my first thought too. I thought lack of deal flow = bad. I know it does in REPE.

Please don't quote Patrick Bateman.

May 14, 2010

Listen to Decision Points narrated by GW Bush.

It's a great book, especially with Bush narrating.

May 14, 2010

"Hold on a sec...you mean they made all this money without doing IB --> PE --> HBS --> PE --> God?
How is this possible?!?!?!!??" - TheKing

May 14, 2010

fixate on something non finance related, sports, plans for the weekend. Look up jokes to crack...use them when networking.

Re-do your excel sheet calculating future earnings and how rich you'll be....oh nm you already do that daily....

May 14, 2010

I take it out when I am bored, even on the bus.

May 14, 2010

Read some Neal Stephenson. Guy's a genius. Start with Snow Crash for sci fi, The Baroque Cycle for historical fiction, or Cryptonomicon for a little of both. Guarantee you won't be able to put them down and they're all like 900 pages so they'll occupy you for a bit.

May 13, 2010

I work in the BO and I feel you. A lot of what I do is tedious and time-consuming but I'll occasionally get huge blocks of time with nothing to do. I try to read a lot of blogs and news (The Big Picture, abnormalreturns, WSO..) but I eventually just resort to looking at random crap on wikipedia.

May 14, 2010

A few weeks ago, I alphabetized the files within the files on my desktop. That'll pass some time

If I had asked people what they wanted, they would have said faster horses - Henry Ford

May 14, 2010

Go find some cute girls and put a mack down!

May 14, 2010

I became a King Kong on WSO.

May 14, 2010
GoodBread:

I became a King Kong on WSO.

legendary response

May 14, 2010
Banker88:

If anyone has good books in PDF that would be appreciated.

Sent the download link for a book that I'm currently reading (More Money Than God by Sebastian Mallaby).

I win here, I win there...

May 14, 2010

Confessions of an Economic Hitman. Pretty interesting read.

http://webcache.googleusercontent.com/search?q=cac...

May 14, 2010
onebuck:

Confessions of an Economic Hitman. Pretty interesting read.

http://webcache.googleusercontent.com/search?q=cac...

[/embed]
Read it already- great book. Would be interested if anyone has the PDF of his new book "hoodwinked". Anyone have Barbarians at the Gate on pdf?

May 14, 2010
May 14, 2010
Ben Shalom Bernanke:

http://www.dontevenreply.com/index.php
You're welcome

LMFAO Just read the first set of emails. That is fcking hilarious.

May 14, 2010
Ben Shalom Bernanke:

http://www.dontevenreply.com/index.php
You're welcome

wow that is just fantastic

May 14, 2010
Ben Shalom Bernanke:

http://www.dontevenreply.com/index.php
You're welcome

This is literally the best site since tuckermax. I've been laughing out loud at my desk for the past hour. Thanks for making me look like an idiot!

May 14, 2010

Can someone post a link to the chat again ? chatzy or whatever

May 14, 2010
May 14, 2010

On the productive side I would suggest abnormalreturns.com
No way you can get through an entire linkfest but there is at least 30 mins of worthwile reading there everyday.

May 14, 2010

sporcle is pretty fun/addictive especially if you like sports

May 14, 2010

Ever get those emails from a "Nigerian prince"? Some of these are hilarious:

http://www.419eater.com/

May 14, 2010

The donotreply one is hilarious.

May 14, 2010

go to library.nu. plenty of free books there. i just downloaded the valuation book written by josh pearl and josh rosenbaum

May 14, 2010

can someone post a link for the valuation book please

May 14, 2010

longreads.com

May 14, 2010

Speaking of free time, I don't know if I have too much -- How much down time do you guys have on a an average day?

May 14, 2010

any of these sites safe for company computer?

May 14, 2010

der is awesome haha, Failbook is good, FMyLife, Texts From Last Night, if you can watch videos I usually check out break.com and liveleak.com

May 14, 2010

Great thread keep it coming. I just wish there was a way to transfer between LCD and e-ink on the same computer.

May 14, 2010

It's most likely blocked, but I like http://www.terezowens.com/
College students may like http://clubtrillion.blogspot.com/
Lastly, http://aplayerornothing.blogspot.com/ is an oldy but a goody.

May 14, 2010
May 14, 2010

dontevenreply
HILARIOUS

Professional Bro,
J. Cans

May 14, 2010

aplayerornothing.com, hadn't seen that one before. Entertaining read.

May 14, 2010

NSFW but barstoolsports.com is great

May 13, 2010

Go online - find something that interests you - apply.

May 13, 2010
SquareMileMan:

Go online - find something that interests you - apply.

+1. I do a lot of job searching at work.

May 13, 2010
GoodBread:
SquareMileMan:

Go online - find something that interests you - apply.

+1. I do a lot of job searching at work.

+2 I applied for and got my current job while at work at my previous job

May 14, 2010

Yes, it's a stepping stone and shows that you've had experience at an early stage. WM intern work is typically administrative and shitty, but this will help you land that next step.

Look into the SA hiring process (where you'll do better work, as it is offered at many big HFs and more securities oriented roles) you haven't already and get yourself prepared for recruiting the fall of your junior year. FWIW the letter of recommendation from your PM might not do for you as much as you think.. Do a good job learn what you can and network. That's the benefit of a BB WM internship, props for doing it early. You're ahead of the curve.

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May 14, 2010

I hate IB. For every interesting transaction I work on, there are a multitude of pitch books, terrible transactions, and internal research projects about things your MD will often forget about 5 minutes after he requests it. I deal with it knowing the money is sick and that I'll take a vacation for 2 years getting my MBA soon enough.

I commend the people who go from analyst to VP+, but there is literally no amount of money that you could pay me to take that path.

May 14, 2010

Always a few interesting reads:

http://abovethelaw.com/

May 14, 2010

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

May 14, 2010

got em

May 14, 2010
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May 14, 2010

Watch porn in the bathroom...with no headphones

May 14, 2010

delete

May 14, 2010
May 14, 2010

@"thebrofessor"
BeyondProxy looks cool. Will read. Thanks.

@"SocratesIsMortal"
I read that. Liked all of it. Even the parts about diddling little boys.

Moar? U.S.A. game doesn't start for a while.

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

May 14, 2010
May 14, 2010

i offer my deepest condolences, truly tragic

May 14, 2010

You don't know the half of it. Tragic is uch an understatement

May 14, 2010

hit on the new shrew. werd 2 yer mama.

May 14, 2010

Nah she looks like an old bag. I dont think anyone would do it even if she offered a guranteed bonus

May 14, 2010

slow day at the office?

May 14, 2010

Tor has started a program whereby they issue a new E-book every week of some fairly big name property. This should give you something new to read weekly, I use it to keep busy.

May 14, 2010
May 14, 2010
Alex_Kap:

I found this: http://www.mygazines.com/

Woah, that is by far the worst marketing/branding I have ever seen. It definitely looks like some gay shit until you see what the site really is and I would definitely not want someone to walk by my computer and see MYGAZINES.COM logo on my monitor.

May 14, 2010
May 14, 2010

Long hours don't necessarily translate to higher pay

And higher pay doesn't depend on industry group. Mainly depends on whether your team head cares about making sure the juniors get paid.

May 14, 2010

generally FIG and Healthcare gets worked the most but all in all, it's pretty standard across the board.
pay is also pretty standard at the analyst level

May 14, 2010

oh gotcha. Sorry for making this dumb question haha

May 14, 2010

Pay generally does not vary across groups for analysts. And even if it did, a $5k difference in an analyst bonus is just about the worst method of selecting groups.

May 14, 2010

Depends which group is the strongest/generates the most revenue at your bank. There can actually be quite a bit of a difference

May 14, 2010

If you're talking about M&A, then it depends on the forte of the bank, but in general, FIG will CONSISTENTLY earn a slight more, just because it generally has some of the highest deal flow in IB groups. You can confirm this by looking at league tables and you will see that FIG/consumer retail composes the majority of the M&A business.

May 14, 2010
JustADude:

Depends which group is the strongest/generates the most revenue at your bank. There can actually be quite a bit of a difference

This is false.

May 14, 2010
NorthSider:
JustADude:

Depends which group is the strongest/generates the most revenue at your bank. There can actually be quite a bit of a difference

This is false.

I agree with JustADude. Although this may differ across the banks, at GS each group is told the number of analysts they can choose to be in the top bucket. It is then up to the groups to determine which analysts are top bucket. Revenue is an important factor (though not the only one) in the number of top bucket spots that each group gets.

Feel free to elaborate if you have seen it done differently at other banks.

May 14, 2010

Definitely look at the best dealflow going through a group rather than strictly pay. That will lead to more $$ down the line anyway

May 14, 2010
seamlessftw:

I agree with JustADude. Although this may differ across the banks, at GS each group is told the number of analysts they can choose to be in the top bucket. It is then up to the groups to determine which analysts are top bucket. Revenue is an important factor (though not the only one) in the number of top bucket spots that each group gets.

Feel free to elaborate if you have seen it done differently at other banks.

No, this is fairly standard practice. So - what? - TMT and FIG at GS get one (two!!?!?) more top bucket bonus than C&R? One analyst per class gets ~$5k than his equivalently-ranked peer in C&R or Industrials? That brings up the average a whopping $700 pre-tax? Is that our operating definition of "quite a bit of a difference"??

Please - please - do not make a career decision based on a few hundred bucks in E(V).

May 14, 2010
NorthSider:
seamlessftw:

I agree with JustADude. Although this may differ across the banks, at GS each group is told the number of analysts they can choose to be in the top bucket. It is then up to the groups to determine which analysts are top bucket. Revenue is an important factor (though not the only one) in the number of top bucket spots that each group gets.

Feel free to elaborate if you have seen it done differently at other banks.

No, this is fairly standard practice. So - what? - TMT and FIG at GS get one (two!!?!?) more top bucket bonus than C&R? One analyst per class gets ~$5k than his equivalently-ranked peer in C&R or Industrials? That brings up the average a whopping $700 pre-tax? Is that our operating definition of "quite a bit of a difference"??

Please - please - do not make a career decision based on a few hundred bucks in E(V).

We are merely answering the original question, not providing advice. As far as group selection goes, I agree that there are more important factors than pay.

May 14, 2010
NorthSider:
seamlessftw:

I agree with JustADude. Although this may differ across the banks, at GS each group is told the number of analysts they can choose to be in the top bucket. It is then up to the groups to determine which analysts are top bucket. Revenue is an important factor (though not the only one) in the number of top bucket spots that each group gets.

Feel free to elaborate if you have seen it done differently at other banks.

No, this is fairly standard practice. So - what? - TMT and FIG at GS get one (two!!?!?) more top bucket bonus than C&R? One analyst per class gets ~$5k than his equivalently-ranked peer in C&R or Industrials? That brings up the average a whopping $700 pre-tax? Is that our operating definition of "quite a bit of a difference"??

Please - please - do not make a career decision based on a few hundred bucks in E(V).

I'm not telling him to make a career decision based on difference in bonus. I know for a fact that top bucket bonuses at a couple BB's last year had differences of up to 20k between groups, it's not a few hundred bucks.

May 14, 2010
JustADude:

I know for a fact that top bucket bonuses at a couple BB's last year had differences of up to 20k between groups, it's not a few hundred bucks.

Did you receive the check? You do realize most people lie/inflate bonus numbers.

"so i herd u liek mudkipz" - sum kid
"I'd watergun the **** outta that." - Kassad

May 14, 2010
mudkipz:
JustADude:

I know for a fact that top bucket bonuses at a couple BB's last year had differences of up to 20k between groups, it's not a few hundred bucks.

Did you receive the check? You do realize most people lie/inflate bonus numbers.

I will confirm as well. Gap at GS between top and bottom was huge.

May 14, 2010
seamlessftw:
mudkipz:
JustADude:

I know for a fact that top bucket bonuses at a couple BB's last year had differences of up to 20k between groups, it's not a few hundred bucks.

Did you receive the check? You do realize most people lie/inflate bonus numbers.

I will confirm as well. Gap at GS between top and bottom was huge.

Yes, of course the gap between top and bottom bucket was huge. He's saying the top bucket varies $20k between groups, which is just untrue. Unless you're comparing a tiny group with one or two analysts that received bottom bucket bonuses and calling that the "top bucket for the group" to a larger group where - obviously - at least one person received top bucket. Saying there is a $20k difference in top bucket bonuses between groups as a first year analyst is misleading, at best.

May 14, 2010
NorthSider:
seamlessftw:
mudkipz:
JustADude:

I know for a fact that top bucket bonuses at a couple BB's last year had differences of up to 20k between groups, it's not a few hundred bucks.

Did you receive the check? You do realize most people lie/inflate bonus numbers.

I will confirm as well. Gap at GS between top and bottom was huge.

Yes, of course the gap between top and bottom bucket was huge. He's saying the top bucket varies $20k between groups, which is just untrue. Unless you're comparing a tiny group with one or two analysts that received bottom bucket bonuses and calling that the "top bucket for the group" to a larger group where - obviously - at least one person received top bucket. Saying there is a $20k difference in top bucket bonuses between groups as a first year analyst is misleading, at best.

Hey man I'm just providing information that I know, if you don't work at my BB then don't blatantly say it's false information, thanks. This difference was between a strong product group vs. an okay coverage group

May 14, 2010
JustADude:
NorthSider:
seamlessftw:
mudkipz:
JustADude:

I know for a fact that top bucket bonuses at a couple BB's last year had differences of up to 20k between groups, it's not a few hundred bucks.

Did you receive the check? You do realize most people lie/inflate bonus numbers.

I will confirm as well. Gap at GS between top and bottom was huge.

Yes, of course the gap between top and bottom bucket was huge. He's saying the top bucket varies $20k between groups, which is just untrue. Unless you're comparing a tiny group with one or two analysts that received bottom bucket bonuses and calling that the "top bucket for the group" to a larger group where - obviously - at least one person received top bucket. Saying there is a $20k difference in top bucket bonuses between groups as a first year analyst is misleading, at best.

Hey man I'm just providing information that I know, if you don't work at my BB then don't blatantly say it's false information, thanks. This difference was between a strong product group vs. an okay coverage group

So, with Street top bucket at $55k, you're telling me you had an industry group of meaningful size (more than 4 analysts per class) where the top bucket was $35k? Unless this is UBS, consider me skeptical. Regardless, this is not at all the norm, and such is a misleading piece of information.

May 14, 2010

Deleted, new discussion

May 14, 2010

Download Joe Rogan Experience app. Listen to high comedians and people explore realms of thought that have never crossed your mind.

    • 1
May 14, 2010
Mr. Hansen:

Download Joe Rogan Experience app. Listen to high comedians and people explore realms of thought that have never crossed your mind.

i second this

WSO's COO (Chief Operating Orangutan) | My Linkedin

May 14, 2010
Comment
May 14, 2010
May 14, 2010
Comment

Greed is Good!

May 14, 2010
May 14, 2010