Looking for two prospective monkeys, I'm trying to throw some investing ideas together but don't have the time to actually do the underlying research. I'm hoping for two semi-skilled monkeys with opposable thumbs that can take direction and produce error-free work.
The arrangement I have in mind is the following:
I have an idea, I produce a rough outline of the thesis and dig up any necessary data to get the ball rolling.
I send out the data and give you direction on how to get to where we need to be.
You send it back, I review, possibly give comments/direction for additional analysis and then we follow-up again.
I'm looking for monkeys who can obviously work independently and can think through problems/analyses they have never done before. Likely I haven't done some of these before either, but you should be able to intuitively think through an investment thesis and formulate it should be analyzed/looked at. You should be very resourceful... advantage to monkeys who have access to market data sources (Cap IQ, Bloomberg, FactSet etc...) through work/school.
It will serve as a very valuable learning experience, one I would have killed for while I was still a prospective monekey.
You can expect to do a variety of analyses across all sorts of investment strategies including PE/LBOs, merger arb. I've got a pipeline of ideas including merger arb trades and an LBO which I built out extensively but haven't updated in about 6 months. Its likely fully priced, but I need to update the model and update/finalize the investment memorandum (which I sent out to a few PE sponsors over the summer).
My purpose is the same as yours.
1- to develop and master certain investment strategies
2- to learn how to think through a variety of investment concepts
3- to come up with an actionable investment idea
In return, you'll get the benefit of my ideas/guidance and career mentorship. Since there will be 2 of you, you'll be checking eachother's work, sharing ideas, and quasi-competing. You'll get the experience and knowledge that is entailed in learning new concepts from scratch and you'll have the benefit of adding these projects to your resume and having additional concrete experience/knowledge to talk about in interviews.
PM me if interested with a few sentences about yourself, your background, what you can offer and what you hope to gain and I'll provide an e-mail address for resume drops.
Outsourcing? :P
This is genius lol
I had an intern for a couple months earlier in the year; they're useful (if they're capable like mine was - though I think you'll have a tough time with getting quality work unless you're able to meet with them in person at least occasionally). If there's a Penn/Wharton kid on this board with a REAL passion for energy and wants an unpaid internship, I'll consider them (I think that's really specific so I doubt anyone will respond, don't want to steal Marcus' thunder).
Haha, not quite. Thats an easy way to get fired and probably sued. The other thing is, no one in their right mind would do banking work for anything less than banking comp. Its dog shit work and not very intellectually stimulating.
This is more to generate proprietary investment ideas... which is far more interesting and intellectually rewarding then dog shit banking work.
^^^ Haha, that really would be hilarious if someone tried to outsource their banking work. I don't think anyone would agree to do it, an internship should be more than anything about learning.
My friend and I thought about it when we were bankers. Problem is you spend more time teaching the person what to do and correcting them than you save from the outsourcing. Disaster. Also, you can't tell your Associate that your personal intern failed to meet the deadline and therefore your work isn't done. Ugh!
http://www.outsource2india.com/services/financial.asp
Just think of it, you could be an analyst at like 4 BB's with this.
The funny thing is the number of PMs Marcus has in his inbox right now... And the number of PMs any of us banking monkeys would have if we tried to (illegally) outsource our work.
Marcus, are you doing this to send out to sponsors as a way to "get a foot in the door?" I'm just curious as to the purpose of sending these investment theses to sponsors.
Not really. What do I have to gain from "getting my foot in the door"? The right to earn salary+bonus for 2 years in a position which isn't unattainable anyway?
I was pitching that idea because I thought it was a compelling investment and I was looking to get a sliver of sweat equity out of it. Also thought it was a pretty original and under the radar LBO, especially for its size.
As for the work I'm doing now. Its really just to get a very thorough understanding of some strategies I'm interested in and understanding exactly the types of value hurdles and pitfalls that come into play. Its also to generate executable ideas that I would possibly invest in with my own capital.
That's why I was asking — didn't know what your intent was. Have you ever heard of buyout shops giving a piece of equity (or even the opportunity to co-invest) to an outsider? I feel like there would be some issue there (if not disallowed all together). Anyways — I get why you'd do it, just was wondering why you'd distribute to sponsors.
Cheers.
speaking of which, have you guys seen the show Outsourced? f'kn hilarious.
Haven't heard of it in the past, but also can't imagine a situation where something like that would be disclosed anyway. It was a $700 million LBO, so even a 10 bps finders fee would have been a 700K finders fee. Don't see why that wouldn't be the case, if you deliver a proprietary idea that is so attractive that they actually execute on it, likely thats a contact/resource which they want to keep open.
Fair point. Final question before I leave you be — get any bites from the sponsors you distributed it to?
Only distributed it two. One is a well known MM PE firm and the second is a family office running several billions of dollars. Family office, no bite. MM firm: got a call back, really liked the company/thesis but felt it was too expensive (which it admittedly was)... mostly just a thank you call, but the response atleast demonstrated that they read my 10-ish page investment memo.
This reminds me of Kramerica Industries from Sienfeld. If Marcus suggests work on a rubber bladder system for oil tankers I'd be very suspicious...
thread title gets a severe NO HOMO rating, but since its MH i give it a neutral
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