In the spirit of adding some interactivity to this site, please post your comments and suggestions. Also, feel free to post your questions about investment banking and I will try my best to answer them.
-Andrew
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Comments / Suggestions / Questions…In the spirit of adding some interactivity to this site, please post your comments and suggestions. Also, feel free to post your questions about investment banking and I will try my best to answer them. -Andrew 188 comments to Comments / Suggestions / Questions… |
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Hi Andrew,
Thank you so much for all your help. I’ve actually read through your website already and have looked through Wallstreetoasis to prepare for my upcoming final round interview with Houlihan lokey FAS group. I was wondering if there is anything else I need to prepare?
Is there any recent interesting news about them? I looked onto their website but not seem to have much.
Thanks a lot!
Edwin
Edwin,
Houlihan Lokey interviews tend to be pretty technical so I would definitely be prepared for them. As for recent news I don’t know of any off hand. I would do a quick Google News search for them and see what comes up.
Hello Andrew,
Awesome website, I really admire your patience and knowledge. I will have an assessment center for Equity research position in a BB. They said it’ll contain a case study.
Could you figure out what a case study for research guys will be like? Should I sharpen some valuation methods and/or financial ratio analysis?
Thank you and best regards,
Matt, I am not very familiar with interviews for equity research positions so I really can’t give advice with regards to the case study. I would have a basic understanding of valuation (specifically equity multiples like P/E) and financial ratio analysis, as you mentioned. I wouldn’t expect it be as technical as investment banking interviews, but that is just a guess on my part. You may want to search or ask this question on http://www.wallstreetoasis.com or http://www.analystforum.com as you might find more folks that have gone through ER interviews on those sites. Sorry I can’t be more helpful.
Hi Andrew,
wonderful site, first time looking at it in detail and wished i could’ve gone through it sooner
I have a quick question.. What are the main differences in i-banking groups (ex. you mentioned product groups, industry groups etc.) and what differentiates their work from each other? i got superday coming up for a intern position called Client Management Analyst at a BB, and from what i was able to figure out so far it’s a coverage position… how is coverage different from the rest if any main differences at all?
Thanks a million.
Myv,
Generally the work between product and coverage groups is about the same, in that you do analysis, valuation, presentations, etc. However, product groups such as M&A or leveraged finance tend to do more modeling and coverage groups tend to do more pitching. However, there are exceptions as certain banks (and certain groups within banks) operate differently. I’m not familiar with the Client Management Analyst position so I can’t comment specifically on it.
Hello, Andrew!
I have perhaps stupid question but nevertheless.. When a company goes public, it issues shares and investors buy these shares.. I wonder to whom belong shares that circulate in the stock market? to the company or investors or somebody else?
Steven, I’m not 100% sure that I understand your question. As you correctly say, when a company goes public (IPO) investors buy these shares. These investors are then free to sell to other investors, who can then sell to yet other investors, etc. This is what’s known as the “stock market.” Whoever buys the shares, owns the shares. Does that help you?
Andrew,
I want to say that you have a wonderful site here. I have a query for you. I am a recently qualified chartered accountant in Canada (24 yrs old), and work for a BIG firm. I have spent the last 4 years in financial services, and have a pretty good grip on the industry. I do not have a CFA or MBA or any finance related designation.
My question to you is, in your experience have you ever seen a certified accountant (CPA or CA) become an ibanker? If so what type of obstacles do i face if i wanted to pursue this career path. Being a CA would i have a leg up on say someone who just has a finance degree, or would i be judged pretty much at the lowest level?
thanks for your help
Mike, I have seen plenty of CPAs become investment bankers. Typically, however, this happens after they get an MBA at a top business school. Folks with accounting backgrounds tend to do well as Investment Banking Associates. It may be possible for you to make the switch into investment banking without the MBA but you would likely start as a first year Analyst. If you want to give that a shot then try to network your way to get interviews. If you are serious about banking, I would start thinking about getting an MBA.