Monkey to Millions | Andrew (Session 3) - More Upcoming Interviews - Oct 15, 2019
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In this session, Andrew is again under immense pressure as he is suddenly in several interview processes that he has limited time to prepare for. We review what he should focus on most to try and give himself the best shot at landing a solid internship offer.
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WSO Podcast (Episode 3) Transcript:
Patrick (CEO of WSO): [00:00:04] Well. Hello and welcome, I'm Patrick Curtis, chief monkey of Wall Street Oasis, and this is monkey to millions. A show where you get a front row seat as I mentor young students and professionals to try and help them break into their dream jobs in the first cohort. You'll meet four students, all preparing for intense job interviews while trying to also balance a personal life and schoolwork. The goal of this show is to shine a light on the struggles of trying to break into competitive positions with a non-traditional background and to give you a roadmap for your own success. My hope is that as you get to know these four impressive students, you're inspired to dream big. Remember, these are real people, and this is their true story. Let's get to it in this session. Andrew is again under immense pressure as he is suddenly in several interview processes that he has limited time to prepare for. We review what he should focus on most to try and give himself the best shot and landing a solid internship offer. But first, take a listen from Andrew himself from the weeks leading up to this session. I just like it's kind of like an overview on the past week. I applied to a few jobs, a few summer analysts, private equity jobs in Toronto. On top of that, I also received a few interviews and a few interview requests. A few, I'm probably going to end up turning down. So last Sunday night, I ended up doing a private equity interview with this private equity team started off pretty easy. Just a few behavioral goals. And then he ultimately got into rapid fire. Technical second, just for behavioral. He's kind of just asking, just like, walk me through your resume. He's like, I'm looking at it like right now. And then he kind of moved on to like, what are some key like qualities or characteristics that I took away from my past few internships? Like with my experience, like at the Impact Fund as well as here at PSP. So I kind of played to that. And then he was asking a little bit of why, why Victoria? So I had pretty good story because I'm also from a small town on the coast. So he really liked that. He thought my story fit very well with kind of my application and what they were looking for and then just moving on and technical. I really kind of knew ahead of time like what was going to be on it because one of my friends had actually done this interview a few months ago. So he pretty much like started with walk me from EBITDAR to leverage free cash flow. So it was also pretty easy because I also had notes, just a supplement in case I draw a blank. The second question was walk me through an LBO model. So it would help that I'd recently done like an LBO modelling seminar for only like a four hour seminar, but it still helped a lot. So I had I referenced that model a little bit before the call, just in case that question was asked. He only really dug into a few things. It was like what? What would be a few things that would impact your EBITDA exit multiple? So a few a few things to answer to that like your company could, your company's industry could be in like a few different growth stages or contraction stages or overall, the company might just be growing at a faster rate than its industry. There was an accounting walk through questions, so it was a PPE sold at five hundred million. Its book value was 400 million. So just walk him through the impacts on the financial statements. So initially I forgot the tax component. So after I was already on the cash flow statement, I walked myself back to the income statement and then I informed him that yes, there would be a lot of taxes on this. And then I ended up checking the answer later on and I ended up getting it correct. And then another question was when you're in an icy meeting, your IRR for a project to have a floor of or 17 percent or 18 percent. And this one, this one investments base case is 17 percent. What are a few ways we can do to boost IRR? So I also researched that before the call, so it really helped. And then finally, there was a question it was so as a pension fund, what would be more important? Investment your multiple on invested capital or your IRR and explain. So as a pension fund, you'd be looking more at IRR because you're investing long term and that's time sensitive versus Mike would just be focusing on just your multiples on invested capital doesn't take taking the consideration time. So, yeah, I was a little bit on that. I also have an investment banking interview coming up this Friday. So kind of what I'm doing prep is I'm probably going to end up staying awake for the next maybe five hours. It's 6:30 in Montreal right now, so I've got that on Friday, and I also have to study a little bit for an interview tomorrow with an alternative investments firm in Toronto. So it's a little bit of a busy week, but I think I'll be able to press through it, especially with the IB interview being mostly general questions. And I know a few friends who've done an interview with this exact interviewer in years past. So I think I'll be able to perform pretty strong on that. So that is in Toronto, but it's over the phone for the interview. So I'd imagine the second round would be flown out Super Day or a Skype Super Day. Yeah. So that's the recap. I feel like I've
Andrew: [00:06:07] Gotten just a recap over the last week. Essentially, I had one interview on last Wednesday. I think it would pretty well. I'll find the results so this week and that is for an alternative investments job in Canada and not at a pension fund this time. So it's a little bit different. On the other front, I had by CIBC Investment Banking Interview moved from last Friday to mid-October, so I still have roughly a week or so to prep for that and I think I'll fare pretty well. I'm just seeing that it's over the phone and I've done a majority of my interviews over the phone. I think I'm pretty comfortable running through a lot of scenarios on that front. Besides that, I had three interviews today, so it was pretty crazy. Started off this morning with the RBC Global Markets program. That first basically just run me through your resume and talk a little bit more about yourself popped into a few of the technical questions. Some of the parts of what I said about my where I see the economy going didn't make too much sense. So it was a little rusty there. And that was mainly my lack of preparation for this interview because I did have two others that I put a lot more work into. So I knew I was going to be a little bit rusty going in. So from there, the rest of the conversation kind of just was based around what I've done, where I would want to see myself in the rotational program. So I know equity research would have been a huge factor just in there because that's what I essentially was doing for my school's investment fund that I really stress that heavily. And I stress some of the relationships that I had at RBC with a few of the equity research veeps and a few of the people who had gone through the rotational program before that. So I think I covered a few of my bases there. Moving towards my RBC Investment Banking interview started off was really casual. Just again, walk me through your background. What do you like to do in your spare time? And then we moved on to a few technical. They were very, very high level and she never really dug too deep into any of my answers. So it was pretty surprising. It was kind of just like, walk me through the main valuation methods. What are a few acquisitions that you've paid attention to in the market? So I actually looked into Onyx, their acquisition of WestJet. I think that happened just last May, and it was funny, too, because after going back, I had one of my friends look her up on LinkedIn. And it turns out she has a lot of mutual and a lot of the similar people actually work at all. Next. So I'm not too surprised if she knows people that would know more about the deal than me, but I think I had a good high level understanding of it and kind of from there just talked about which kind of valuation methods would give you the highest with the highest value and just run down the list on that front. And then just talk to a bit about leadership and strengths weaknesses. I think I really hit it out of the park. And then just to wrap things up on that interview, she said that she was very impressed with her discussion and that she'd take her notes to HR. And then finally, just moving onto the Oxford Properties interview. It was actually quite weird. It was a WebEx interview and it was the internet connection was terrible, and they were essentially just reading off of a paper. They didn't seem interested at all. So I really took away from it that I don't want to work at Oxford Properties just based on the people that I spoke to. They just seemed so unqualified. I don't even know how they got there. So that was pretty funny. Moving on through the next few days, I do have another real estate specific interview on Wednesday morning, and then I'm pretty much just prepping for my next few investment banking interviews. So I know I have a mock interview tomorrow at 2:00 p.m. and that's with an x CIBC banker from Calgary. So she'll run me through a bit of the interviews that she had done, and I'm really hoping to gain a lot of that and really just prep do my best to recap on the last week. Last Monday, three interviews pretty much back to back actually heard back from one of those interviews where it was essentially for the RBC Global Markets rotational program. Didn't think it went very well, but I just got a final round interview request on Friday. I sent you that to you and Skype, so it's essentially three 30 minute interviews. There's a few equity research people, a few fixed income, few debt market people that I'll be interviewing with. So kind of to prepare for that, I just read through a lot of the recent. News, kind of all the investment banking guides for the fixed income stuff like that, really just trying to prep myself for any kinds of technical questions I wouldn't really be expecting. So I did that pretty much this whole weekend, and it's a long weekend in Canada today off. So I spent two days studying and then on my other job front for CIBC Investment Banking. I actually had to talk with a VP just throughout the week. He's actually in there financial sponsors group. So he's just telling me all about how the program was set up. And then I kind of dropped it on him that I was actually going to be interviewing there in a few weeks. He thought I had kind of missed the boat, but I informed him that I wasn't. I wasn't late, that it would be interviewing and then non-target bucket, which I guess is normal for these organizations. So, yeah, not on that end. I still got another week to prep for that, and I'm just trying to get in as many phone calls and as many mosques as I can just to really be prepped and just kill it in case I do have to take that interview. But for this Wednesday, I'm really trying to prep hard and grind out those three interviews and then I'll find out that night or the next morning. If I'm accepted to that program, that would probably be my, my number one pick, just as it would give me so much exposure to capital markets in Canada. So, yeah, really looking forward to that and just brushing up on all the recent news and kind of just trying to form opinions from there. But I guess we'll talk on Tuesday night more about this. Awesome.
Patrick (CEO of WSO): [00:12:38] So remind me it's capital markets, right? Coming up. Yeah. So tomorrow at from 10 to noon, I've got. Three 30 minute interviews. Is that a picture of your names? Is that the final thing? This is. That's a super cell. I'll find out more tomorrow night, early Thursday morning if I get that or not, but it'll be exciting. Very exciting. So I assume right now, so it's capital markets and fixed income. Is that correct? How should I think about it? It's like a rotational, so like there's like debt capital markets, like fixed income, currencies, and then I think there's like also like equity research people that will be interviewing me. And so this is for RBC, correct? Yeah, for RBC. So let me share my. Let me show you some stuff I have here. That's what I thought it was. Have you looked through the company database yet? Yes, I've seen stuff like that. I don't know if they'd have it for the exact position. Toronto a couple of markets right here in Toronto should be it. Yeah. So there's a couple in here that looked pretty relevant and some of the stuff was interesting. One of them kind of scared me, it says. One of the questions is why aren't you applying for an actual investment banker? If that's where you want to be in a couple of years, I'm like, if he gets that trouble because you have a slide, right? Right? Yeah. So just be ready to answer that. Just be ready to answer. Be like, you know, I'm young, I'm just trying to I want to be in the right, you know, to great firm and, you know, capital markets definitely interested me. Yeah. You don't have to hide from so much exposure you can get between all the. You don't have to hide from that, you know what I mean? Don't like feel like if they're attacking you or being really aggressive about it. Yeah, you know, be like, Look, I know I'd be really lucky just to get an offer here. Just being super humble, you know, and likable would be like. You know, I'm from a non-target I think it'd be it'd be silly if I didn't apply and assumed I could just get whatever you know. I know there's. Exactly. And I think that's a good answer, because then they can that'll quickly, hopefully shut them up. And then in terms of like, yeah, I would definitely look through these. Anything that's RBC Capital Markets like in the capital markets division because you look by division in Toronto. I would definitely be looking at those because you could get like word for word, those types of things, those types of questions. Another one I saw. What made you choose RBC? You know, that's you know, That's pretty typical, you know, pretty typical. There's a little I do you have a headset? Yeah, yeah. Yeah, I'll plug in. Cool. Not that I don't love hearing myself. I actually now I can't hear you. I can't hear your audio. Nothing. It's like a busted pair of old headphones that I have, so I need to I need to stock up on some new ones pretty soon. No worries. So let's just. What do you think so tomorrow, do you want to go use this session or is more like a technical interview, like dive into some of that stuff? I assume you saw in the technical court interview course we have like specific things on bonds, loans, interest rates and currencies. Yeah. Yeah. I was on the road a bit this weekend. Yes, I would focus most of your time on just those three modules like the bonds, loans, interest rates, currencies and options and derivatives. Maybe. Well, maybe not options in derivatives as much, but definitely. Yeah. Stocks to. And make sure you're really comfortable around those because. Nine times out of 10, you're going to get stuff very similar to that. So do you want to? Do you think it'd be helpful to go through that? So tell me so you have that interview on tomorrow, correct? Yeah. More on that. And I've got to. Yeah. And then there's a first round for CIBC Investment Bank. Like the non-target bucket, so I don't know, I think they only end up hiring like one or two from that pool, not even. But my point is that my academic director for over 20 seconds, so I still have. We still got a week. So pretty much right after this. If I don't end up getting this one, then I'll pretty much just study my ass off for that. See where I go. Yeah, I think it's good. Just focus on the one for tomorrow. And then how have you been able to do any marks leading up to this? I know. Not yet. Do you want me to do a quick one right now, like a 10 minute, 15 minute? Um, yeah, I guess why not? Can't hurt, it can't hurt. All right, let me see, and yet if you don't know something, it's fine, you can just brush up on it. I'm not trying to like bust you right now. It's just more of I want to see. Where you might need a little more catching up. Mm hmm. Um hmm. Carol, this isn't a good for capital markets. Let me go back here, I'm trying to find a really good. I really want to focus on capital markets, you know? And this isn't my expert, this is my expertise, either, so it's hard for me to even like. So do you know the difference between an investment grade bond and a junk bond? Yeah, investment grade, they're not as risky in the high yields or a lot riskier. Do you know, like the actual the what's considered a junk bond credit rating? So we'd like to put Triple B know I can see it right there, but I wouldn't say so. Yep. Ok, so like would interest rates be higher or lower on the investment grade bond? Maybe lower than high yield, right? Ok, great. You're just going to cheat, you're going to look at all the answers right here on my screen. Let me see here. You know, the current yield on the 10 year Treasury. But I don't know, it's probably sitting right around like one point six. Between one point six and one point seven, I'd imagine somewhere around that. I have no idea. Would you put subordinated debt or common stock, which puts higher on the capital structure? I can see right there, but it's mainly because your debtors are going to have the first dibs on your life like liquidation versus your stockholders or last because they're like they take the risks, they take the most risk just as long as they can see the most return versus your debtors. So like you're like a fixed percentage like debt holders or whatever, they're going to get a fixed percentage every month, every quarter, every year, for sure. Do you know what some companies you're following now? Do you follow any specific markets and in Canada? Or specific stocks? Just real estate, just a few that I've pitched and that have been pitched to my school fund. Do you think those were good investments? Yeah, I think definitely so. The one that I pitched, I'd originally pitched, it was like $18, 30 cents. It was like a local apartment, right? Just hit like a billion market at the time, and then it started to get a lot more coverage. They started moving to like Central Canada for like some of their acquisitions. And so it was like $18 when I pitched it. Originally, it's sitting right around like 20, 20, 60 now. So that was just since April. And then another one we didn't end up buying, but it was like, it's like a retail fuel company, and they see they don't they're not exposed as much. So like the price of oil is there. Look into it more, but for the exact hour, actually, it was pretty, pretty cool, and it was actually recommended by one of the directors in the fund. So I can just look through that deck and just kind of learn the company more. Yeah. Be really polished, at least on one of those. Yeah, definitely. That's right. Or less than 24 hours. I was that I messaged my one connection there. Who's? Bp like equity research for RBC, and then he said, I'll read you the email, apologies for the delayed response. I can't give you anything too specific, but a few high level pointers would be prepared both long and short stock bits. Probably a good idea for one of them to be on the real estate space just considering your role. The interviewing team will likely dive a bit deeper into the weeds considering your experience prepared for the interviewers to ask about your interest beyond rotating and equity research. So he said, for example, like DECC Capital Markets, fixed income, stuff like that. I mean, think about a couple other sectors of interest. Your resume would suggest real estate so like like you were saying, obviously, and then he said placement will be highly. Dependent on capacity needs, so I guess since he's listing debt capital markets, I'd say that's probably a dominant team for the internets where they need help. You mean? Yeah, yeah. So, yeah, I mean, so let's start at the top there. Long and short pitch prepared. Tell me, do you have anything prepared? Are not nothing off the cuff right now. I think it's literally just going to go back and review the successful ones that I pad and just brush up on the new numbers, new prices and kind of what's the strategy behind that? And then for the short one, I think I might just steal one of my buddies that he, he and I worked on a little bit and just have like high level on that and kind of where I would see that investment going. Yeah, I mean, I think it's important when you're talking about a short specifically to hone in on like the catalyst of what's going to drive it lower. Because you can say I get super valuable, it's better if there's like an event coming up like a refinancing that they're not going be able to do or something like that'll work on the timing because if you just say, Oh, it's overvalued, look at these historical numbers. Look at all this. They're going to probably push you harder on that. Dive into it. So be prepared like, no, ideally there's some sort of event or catalyst and hopefully that the short you worked on hasn't played out. You almost wanted to have gone up more to make it even more of a juicy short. Yeah, definitely on it. But yeah, I definitely leverage whatever you can. There's also, if you don't have access to the hedge fund course, we can get you access tonight to that. There's some shorts in there or just an idea of how you can. It might give you an idea how you can structure it in the types of questions you'll get asked. You can download a template of a short, a short pitch and just try to like, take the company you already have and know well and fill in that sheet there. Because if they're going to ask you that and you're not, you don't know the industry and or the company, well, you're going to be in deep trouble. Yeah. Versus if it's something already polished, they're going to be impressed. That's going to set the interview up for success when they start getting the behavioral and the behavioral ads. I think you'll be fine. Mm hmm. We can dive in a little bit more here, but is there something specific you wanted to go through with me? I mean, we can do more like behavioral stuff. I don't know, like I don't know what the hardest questions would be for this one since it's a rotation, maybe. What would I most want to focus on? Would. I don't even see that being a tough question to answer. What would you say? They're behaving honestly, I'd really like to get a rotation in the like the debt capital markets team, just because it's such a huge industry and there's so many areas you can specialize inside of that and it's never really seen as like the sexy the industry. But I think there's a lot of potential and you can really work your ass off and like go up the ranks and say you don't want to work your ass off. Yeah, but like, what are you going to say? What are you going to say to them? Like, do you have something prep for like, so you want to say DCM? But is there specific things around debt capital markets that interest you? In been pretty peculiar, like nothing besides like the size of the debt industry. It's always in need like companies will always need debt versus certain companies aren't always going to want to issue equity or to seize it offerings or anything like that. So I think it's all boys in need and it's such a huge industry that I could just see myself going into that direction. Yeah, I think the other answer you could give that might be helpful is if you're going to say DCM is interesting, I think you can also say, to be honest, like I'm still learning a lot about these industries and the reputation that that RBC has. A DCM is really strong. So to be in a stronger with really intelligent people, although I'm sure all groups have really people, it's really just what my focus is on since I'm so young and still trying to learn so much. So like always taking the humble approach versus trying to like show, you know, so much. Is almost a better approach. Do you know what I mean? Yeah. Like instead of trying to show off like usually the way, the way, the best way to show off is really at the end with the questions, OK? And you don't want to be like, go overboard and be like, ask all these technical questions. But enough nuance there that shows you. You understand how the bank works, like how DCM interacts with equity research and these other desks enough where you've talked to people, where you kind of understand how those structures work. So for me, if you're saying like, what would you rather be in? If you said to me, like, you know, to be honest, I still feel like I have a lot to learn, but I'm ready to work incredibly hard and DCM seems really interesting to me because you obviously, you know the amount of capital being put to work nowadays with overseas. And it's a really, really strong desk. And I don't know if that's true for them. I assume it is. I think it's really exciting when you get to help bring an issue to market or blah. Hmm. I think that would be a good answer because you're not like trying to be like debt capital works. This is my dream since I was a young kid. You know what I mean? But you're just saying it's more the bank's reputation and specifically in that group, they're really strong and you've heard good things from the people you've spoken with. Yeah, if you can name drop like I spoke with that and he seemed really, you know, he seemed to have great things to say about TCM, and obviously that's you can always kind of pull from there versus trying to like, Yeah, I think I think versus trying to wade your way through the like the mental gymnastics of saying like companies need debt, you know, and they don't always want to issue equity. Yeah, yeah, OK. Do you know what I mean? Like little things like that? Would be more comfortable to you. It's more honest, you know, it's more genuine. And I think the most important thing is that they come out of here thinking, you're a hard worker and that you're genuine. You're going to just you're not trying to be like Wolf of Wall Street or something like that, trying to like, give them a give them some sort of B.S., you know, try not trying to feed them any BS. Yeah, exactly. Like, if you can just keep coming back to like you're just learning more, you want to be around smart people and you think obviously as an obviously an incredible reputation. Then I think that's going to get you a long way. If you say that a few times, you don't want to keep like harping on it, but if you can drop it a few times, it's not going to hurt you. Does that make sense? Yeah. So just the just don't feed like the loaded, loaded answers with like, why like what I was pretty much answering and kind of just be like the humble approach and say, Oh, from like who I've spoken to, who's clearly knows a lot about the industry that was that this is a really, really good desk to be on in this rotational program is just an incredible opportunity. Yeah, exactly. To learn, you know? Exactly. I think each group in each desk has their own unique things you can pull from. So equity research like being able to go and take those deep dives into specific industries and specific companies is really fascinating. Dcm being able to look at the capital markets and understanding a little bit of how those work and how issuances are done and how the whole, you know, I assume with DCM, they do like, you know, how the road show, how an issuance is formed and that whole process something that would be incredible to learn as well. So like just showing that you're eager to learn, but you understand little bits and pieces about how each of the like what each of them are. And it sounds simple, but it's like it's enough to that for them to be like just nodding and be like, OK, he gets how everything interacts. He's not like, he's not lost, you know what I mean? Yeah, exactly. It can go a long way. Ok, cool, cool. So. Legal Sharia, I put on my video just to or I'll share my screen, that's probably better. So I think for just in terms of prepping for you, I think tonight I would first go through the company database to look specifically for capital markets questions in Toronto, and it can be from a couple of years back as it could be the same associates in VP's there that you're going to be interviewing with. Mm hmm. I would definitely do that. I would definitely get you. Actually, I would start with your long pitch and your short pitch. Because if you're if the guy there said that they're going to ask you that I think not being prepped for that would be a shame. Yeah, exactly. So what else did he say in the email? What was the second part? Second. The interviewing team will likely dive a bit deeper into the weeds, considering your work experience. Yes, they're going to want to know about your specific deals. Yes, like everything that I've been working on so far. Yeah, so like knowing those numbers well will be important. Did you ever have a chance to walk through with the analyst, her model? With her. No, I haven't. I didn't get the chance with that, that I can pretty much just go back and kind of pull like what the rough like returns were like unlevered stuff like that. Yeah, I would look at that. But then, yeah, if you can think if you know the rough numbers in terms of top line, bottom line, that type of stuff, not just like the overall returns, they could be important to know those. Yeah, just to say they like, you know, you weren't running the model, but you were still interested in curious and you know, you were following along the rough numbers. Yeah, I think would be good to show like interest in stuff like that. Make sure you're looking at what the values and culture. On their annual report. This tip had that in there. Read over the annual report and letters to shareholders gives quite a bit information about the company and their culture. Um. It might ask you kind of questions and sell, but how about the products and how RBC generates revenue, says, which is interesting, but yeah, it just look through these. After you get the long and short kind of tied up, I'd maybe have like a one page summary on each of them in terms of the main points, so you can have like a cheat sheet studying going in so you feel like you're decently prepped for that. That's a good thing to have. It is because any other interviews there's potential to be like, tell me a short tell me along, like even in a banking interview, you can get that sometimes. So not a bad idea to have them either way. So it's even if they don't ask you tomorrow, it'll be something where you can leverage it, probably in the future. Um, what else? Man, I'm seeing a lot of like technical stuff here, but hopefully that's not well, like the first round that I had with this one, it wasn't. It was pretty much like the same description. It said it would be like a mix, like a conversational mix of behavioral and technicals. And that was the same description I had for this next one. And it wasn't. It was really technical. Like a lot of the questions were pretty straightforward or like probably the hardest one was like, you're given two companies, one's like a utility company and one's like a fashion company. So what do you think in terms of like the focus for tonight besides the long short, do you think? I mean, what's your plan? You think you're gonna stay up late? Yeah, like I'd say probably. Probably another like five hours. I'm just going to go to the gym like I'm going to like my work gets like all like the Wall Street Journal newspapers. So I'm just going to take like the weekend edition plus today's edition and just go like on the treadmill and read that for like an hour. And then I'll be like at least somewhat current with everything that's going on. And then kind of besides that, I'll run through like the bond section of the guide again. And kind of besides that, just try to try to hone in on like why I want to do this. And then I'll review the long short. But I think that that part should be a little bit easier, just based on that. I've done them a little bit before, so I have a little rough template on what to do. What time is the interview? 10 a.m. Oh gosh, forget it. I was going to say I could look through your long short, but it's not going to happen. Ok. All right. Well, is there anything else I can do to help you to prep? I maybe can you would you be able to shoot me that the hedge fund guy where you have the template or whatever? Yeah, get me some of your username on Skype chat and I'll get you actually the hedge fund course and I'll send you a link over and I can show you where, like all the short stuff is ok, perfect man. And then. Yeah, I wouldn't spend like a ton of time developing a new short if you can leverage it already had, but just put it in a format like a one pagers to help organize your thoughts. Yeah, like in terms of catalysts like the setup, what's been happening with the stock? Did the different valuation metrics, why you think it's overvalued, the catalyst of what's going to when you think, what's the event or what's going to actually drive it? The potential upside potential downside when you'd cut the trade stuff like that? Yeah, definitely. And then the long and then along a little bit easier been doing long at, yeah, investment funds. Exactly. Awesome. All right, so let's connect, yes, shoot me that I'll get, I'll get you access to that. And then. Yeah, definitely. Keep me updated and on the investment. If you don't get it, we may want to schedule another quick session to do a real mock on technical ivy for the CNBC interview. Yeah, because that's I think that's like my last chance for Summer for the bank. What happened with RBC? I've nothing you never heard. I think I think they put me in this one only for the rotational. So it's a little bit of a ding potentially there. Yeah. Ok. So, yeah, I wonder if you get this offer, if you can still do the CIBC, like if you all have time. You have to accept on the spot or can you wait? Yeah, off the aisle to see if I end up getting that, but it should be like, I'll let you know, like, I mean, Either I think I'd be. Just run because he said that the interviewer said if I end up getting an offer that they'll like, push the timelines ahead for me. So CIBC said that. Yeah. Okay, great. You're like, No, no, no, it's good. Money is good. We need time to prep for Tuesday is good. Yeah. Cool, man. Ok, well, maybe we can squeeze in one more like a mini mock for strict ibe. If this one doesn't work out, our fingers crossed for tomorrow. But obviously you have a lot of work for tonight, so I'll let you get to it. Awesome. Thanks. Good luck. Yeah. Talk to you and keep me updated, Lou. Yep. And thanks to you, my listeners at Wall Street Oasis. If you have any suggestions whatsoever, please don't hesitate to send them my way. Patrick at Wall Street Oasis. And till next time.
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