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	<title>IBankingFAQ</title>
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	<link>http://www.ibankingfaq.com</link>
	<description>Learn about investment banking...become an investment banker</description>
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		<title>March 3, 2013</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/march-3-2013/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/march-3-2013/#comments</comments>
		<pubDate>Mon, 04 Mar 2013 23:25:29 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=677</guid>
		<description><![CDATA[<p>I am excited to say that I&#8217;ve finished work on my book, How to Be an Investment Banker: Recruiting, Interviewing, and Landing the Job + Website (Wiley Finance) which will be released on April 1, 2013. It was a lot of work but I hope many of you find it useful for the investment banking [...]]]></description>
				<content:encoded><![CDATA[<p>I am excited to say that I&#8217;ve finished work on my book, <a href="http://www.amazon.com/gp/product/1118487621/ref=as_li_tf_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1118487621&amp;linkCode=as2&amp;tag=ibankingfaq-20">How to Be an Investment Banker: Recruiting, Interviewing, and Landing the Job + Website (Wiley Finance)</a> which will be released on April 1, 2013. It was a lot of work but I hope many of you find it useful for the investment banking recruiting process. Basically, the book is an extension of this site covering in greater detail information about investment banking and lifestyle, recruiting and interviewing and the technical stuff that you need to know, including an overview of accounting, finance, financial statement analysis, valuation, modeling, M&amp;A and LBOs.</p>
<p>I&#8217;ve also recently launched a website called <a title="igokids" href="http://www.igokids.com" target="_blank">igokids</a>. This has nothing to do with finance or investment banking but it is my full-time gig so feel free to check it out. igokids is local search and discovery site for everything kid related in New York City (in a nutshell, &#8220;Yelp for parents&#8221;). I&#8217;m proud to say that I developed it from scratch myself, being a totally self-taught programmer. See all the exit opportunities that investment banking can lead to?</p>
<p>I also want to remind you about my financial modeling self study program, which costs only $49. You can learn how to build a financial model in the comfort of your own home or office. Knowing how to build an integrated cash flow model will definitely help you in your interviews plus it is a great way to prep for those dreaded technical interview questions. Click to view more information about the <a href="../financial-modeling-self-study/">financial modeling self study program</a>.</p>
<p>As always, I look forward to your <a href="../comments-suggestions-questions/80/">comments/suggestions/questions</a> and emails (<em>andrew [at] ibankingfaq.com).</em></p>
<p><a href="http://www.ibankingfaq.com/wp-content/uploads/2013/03/final_book_cover.png"><img class="size-medium wp-image-703" alt="How to be an Investment Banker" src="http://www.ibankingfaq.com/wp-content/uploads/2013/03/final_book_cover-201x300.png" width="201" height="300" /></a></p>
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		<title>August 16, 2012</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/august-16-2012/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/august-16-2012/#comments</comments>
		<pubDate>Thu, 16 Aug 2012 20:46:58 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=668</guid>
		<description><![CDATA[<p>I hope everyone is enjoying your summer (at least those of you in the northern hemisphere). I haven&#8217;t updated this short section on the home page in a while so a couple of announcements:</p> <p>First, I haven&#8217;t been so good at responding to questions asked on the site lately. My apologies for those of you [...]]]></description>
				<content:encoded><![CDATA[<p>I hope everyone is enjoying your summer (at least those of you in the northern hemisphere).  I haven&#8217;t updated this short section on the home page in a while so a couple of announcements:</p>
<p>First, I haven&#8217;t been so good at responding to questions asked on the site lately.  My apologies for those of you who have asked some good questions that I haven&#8217;t yet answered.  I will try to get to them soon.  You are also always welcome to email me.</p>
<p>But onto more exciting news (for me, at least). I am hard at work on a book to be entitled, &#8220;<strong>How to be an Investment Banker</strong>&#8221; that will be published by Wiley Finance.  It will be an extension of this site covering in greater detail information about investment banking, recruiting and interviewing and the technical stuff that you need to know.  I&#8217;ll keep you updated but it is targeted for release in the spring of 2013.</p>
<p>I&#8217;ve also recently launched a website called <a href="http://www.igokids.com" title="igokids" target="_blank">igokids</a>.  This has nothing to do with finance or investment banking but it is my full-time gig so feel free to check it out.  igokids is local search and discovery site for everything kid related in New York City (in a nutshell, &#8220;Yelp for parents&#8221;).  I&#8217;m proud to say that I developed it from scratch myself, being a totally self-taught programmer.  See all the exit opportunities that investment banking can lead to? </p>
<p>I also want to remind you about my financial modeling self study program, which costs only $49.  You can learn how to build a financial model in the comfort of your own home or office.  Knowing how to build an integrated cash flow model will definitely help you in your interviews plus it is a great way to prep for those dreaded technical interview questions.  Click to view more information about the <a href="../financial-modeling-self-study/">financial modeling self study program</a>.  </p>
<p>As always, I look forward to your <a href="../comments-suggestions-questions/80/">comments/suggestions/questions</a> and emails (<em>andrew [at] ibankingfaq.com).</em></p>
]]></content:encoded>
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		<title>September 8, 2010</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/september-8-2010/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/september-8-2010/#comments</comments>
		<pubDate>Wed, 08 Sep 2010 15:00:28 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=642</guid>
		<description><![CDATA[<p>Are you ready for the fall recruiting season? Those of you who recently started your senior year of college or your second year of an MBA program know that the recruiting season is here. Good luck to all of you!</p> <p>I want to remind you about my financial modeling self study program, which costs only [...]]]></description>
				<content:encoded><![CDATA[<p>Are you ready for the fall recruiting season?  Those of you who recently started your senior year of college or your second year of an MBA program know that the recruiting season is here.  Good luck to all of you!</p>
<p>I want to remind you about my financial modeling self study program, which costs only $49.  You can learn how to build a financial model in the comfort of your own home or office.  Knowing how to build an integrated cash flow model will definitely help you in your interviews plus it is a great way to prep for those dreaded technical interview questions.  Click to view more information about the <a href="../financial-modeling-self-study/">financial modeling self study program</a>.  </p>
<p>I also want to remind you about my coaching services.  We can schedule sessions in person (in NY) or over the phone and cover resumes, general recruiting and interviewing advice as well as mock interviews.  Click to view more information about the <a href="../interview-and-job-search-coaching/">interview and job search coaching</a>.  </p>
<p>As always, I look forward to your <a href="../comments-suggestions-questions/80/">comments/suggestions/questions</a> and emails (<em>andrew [at] ibankingfaq.com).</em></p>
]]></content:encoded>
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		<title>August 3, 2010</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/august-3-2010/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/august-3-2010/#comments</comments>
		<pubDate>Tue, 03 Aug 2010 16:02:07 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=637</guid>
		<description><![CDATA[<p>Are you ready for the fall recruiting season? Those of you going into your senior year of college or your second year of an MBA program know that the recruiting season will be here soon (the summer just goes by too quickly, doesn&#8217;t it?). For you students and for all of the rest of you [...]]]></description>
				<content:encoded><![CDATA[<p>Are you ready for the fall recruiting season?  Those of you going into your senior year of college or your second year of an MBA program know that the recruiting season will be here soon (the summer just goes by too quickly, doesn&#8217;t it?).  For you students and for all of the rest of you interested in investment banking, I want to bring to your attention a course that I&#8217;ll be teaching in New York City starting September 11.  The course runs on Saturday and Sunday for two consecutive weeks and covers valuation and financial modeling as well as basic accounting, corporate finance and financial statement analysis.  The course is great preparation for investment banking interviews, especially those stressful technical questions.</p>
<p>To register for the course or for more information, please <a href="http://www.instituteforfinance.com">visit the Institute for Finance website</a>.</p>
<p>I also want to remind you about the financial modeling self study program, which costs only $79.  So if you are not able to make it to New York for one of my lives classes, you can learn how to build a financial model in the comfort of your own home or office.  Click to view more information about the <a href="../financial-modeling-self-study/">financial modeling self study program</a>.  </p>
<p>As always, I look forward to your <a href="../comments-suggestions-questions/80/">comments/suggestions/questions</a> and emails (<em>andrew [at] ibankingfaq.com).</em></p>
]]></content:encoded>
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		<title>July 12, 2010</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/july-12-2010/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/july-12-2010/#comments</comments>
		<pubDate>Mon, 12 Jul 2010 21:42:37 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=631</guid>
		<description><![CDATA[<p>Are you ready for the fall recruiting season? Those of you going into your senior year of college or your second year of an MBA program know that the recruiting season will be here soon (the summer just goes by too quickly, doesn&#8217;t it?). For you students and for all of the rest of you [...]]]></description>
				<content:encoded><![CDATA[<p>Are you ready for the fall recruiting season?  Those of you going into your senior year of college or your second year of an MBA program know that the recruiting season will be here soon (the summer just goes by too quickly, doesn&#8217;t it?).  For you students and for all of the rest of you interested in investment banking, I want to bring to your attention a course that I&#8217;ll be teaching in New York City starting July 31.  The course runs on Saturday and Sunday for two consecutive weeks and covers valuation and financial modeling as well as basic accounting, corporate finance and financial statement analysis.  The course is great preparation for investment banking interviews, especially those stressful technical questions.</p>
<p>To register for the course or for more information, please <a href="http://www.instituteforfinance.com">visit the Institute for Finance website</a>.</p>
<p>I also want to let you know that I&#8217;m offering a special price for the summer on the financial modeling self study program.  I&#8217;ve reduced the price to only $19 from the old price of $49.  I hope that you will take advantage of this limited time offer.  Click to view more information about the <a href="../financial-modeling-self-study/">financial modeling self study program</a>.  </p>
<p>As always, I look forward to your <a href="../comments-suggestions-questions/80/">comments/suggestions/questions</a> and emails (<em>andrew [at] ibankingfaq.com).</em></p>
]]></content:encoded>
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		<title>January 27, 2010</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/january-27-2010/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/january-27-2010/#comments</comments>
		<pubDate>Wed, 27 Jan 2010 23:16:25 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=603</guid>
		<description><![CDATA[<p>To those of you who are still in the interview process for summer internships, good luck! And my congratulations to those of you who have accepted offers.</p> <p>I&#8217;ve made some changes to the home page of IBankingFAQ (the page you&#8217;re on now) so it&#8217;s not so static. I intend to use this top section to [...]]]></description>
				<content:encoded><![CDATA[<p>To those of you who are still in the interview process for summer internships, good luck!  And my congratulations to those of you who have accepted offers.</p>
<p>I&#8217;ve made some changes to the home page of IBankingFAQ (the page you&#8217;re on now) so it&#8217;s not so static.  I intend to use this top section to highlight any changes or updates to the site and other communications to readers.  The old home page is the <a href="http:../about/">About</a> page, where you can read about the site.  Below this section is a random FAQ that will change whenever you refresh the page.</p>
<p>You may have noticed a new purple banner at the top of the screen advertising a new self study program that I&#8217;ve developed to teach basic financial modeling.  This is something that has been in the works for a while and I&#8217;m pretty excited about it.  You can learn more about the <a href="../financial-modeling-self-study/">Financial Modeling Self Study Program</a>.</p>
<p>As always, I look forward to your <a href="../comments-suggestions-questions/80/">comments/suggestions/questions</a> and emails (<em>andrew [at] ibankingfaq.com).</em></p>
]]></content:encoded>
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		<title>October 8, 2009</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/october-8-2009/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/october-8-2009/#comments</comments>
		<pubDate>Wed, 27 Jan 2010 22:51:43 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=600</guid>
		<description><![CDATA[<p>I have upgraded the site’s theme. I am still making some tweaks, but the upgrade is substantially complete. Please contact me if you find any bugs or have difficulty finding any of the content.</p> ]]></description>
				<content:encoded><![CDATA[<p>I have upgraded the site’s theme. I am still making some tweaks, but the upgrade is substantially complete. Please contact me if you find any bugs or have difficulty finding any of the content.</p>
]]></content:encoded>
			<wfw:commentRss>http://www.ibankingfaq.com/ibankingfaq-updates/october-8-2009/feed/</wfw:commentRss>
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		<title>You have 100 balls (50 black balls and 50 white balls) and 2 buckets.  How do you divide the balls into the two buckets so as to maximize the probability of selecting a black ball if 1 ball is chosen from 1 of the buckets at random?</title>
		<link>http://www.ibankingfaq.com/interviewing-brainteasers/you-have-a-100-balls-50-black-balls-and-50-white-balls-and-2-buckets-how-do-you-divide-the-balls-into-the-two-buckets-so-as-maximize-the-probability-of-selecting-a-black-ball-if-1-ball-is-chosen-f/</link>
		<comments>http://www.ibankingfaq.com/interviewing-brainteasers/you-have-a-100-balls-50-black-balls-and-50-white-balls-and-2-buckets-how-do-you-divide-the-balls-into-the-two-buckets-so-as-maximize-the-probability-of-selecting-a-black-ball-if-1-ball-is-chosen-f/#comments</comments>
		<pubDate>Wed, 27 Jan 2010 17:40:55 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[Interviewing - Brainteasers]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=584</guid>
		<description><![CDATA[<p>Just to be perfectly clear, you are assuming that one of the two buckets is chosen at random and then one of the balls from that bucket is chosen at random.  You want to put 1 black ball in 1 of the buckets and all of the other 99 balls in the other bucket.   This [...]]]></description>
				<content:encoded><![CDATA[<p>Just to be perfectly clear, you are assuming that one of the two buckets is chosen at random and then one of the balls from that bucket is chosen at random.  You want to put 1 black ball in 1 of the buckets and all of the other 99 balls in the other bucket.   This gives you just slightly less than a 75% change of having a black ball chosen.  The math works as follows:  There&#8217;s a 50% chance of selecting the bucket containing 1 ball with a 100% chance of selecting a black ball from that bucket.  And a 50% chance of selecting the bucket containing 99 balls with a ~49.5% (49/99) chance of selecting a black ball from that bucket.  Total probability of selecting a black ball is (50% % 100%) + (50% * 49.5%) = 74.7%.</p>
]]></content:encoded>
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		<title>October 6, 2009</title>
		<link>http://www.ibankingfaq.com/ibankingfaq-updates/upgrade/</link>
		<comments>http://www.ibankingfaq.com/ibankingfaq-updates/upgrade/#comments</comments>
		<pubDate>Tue, 06 Oct 2009 14:13:11 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[IBankingFAQ Updates]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=470</guid>
		<description><![CDATA[<p>I&#8217;m currently working on upgrading the site&#8217;s theme. All of the content should be here but might be a little harder to find. Sorry also for the random banner images. Hopefully things will be fixed up shortly.</p> ]]></description>
				<content:encoded><![CDATA[<p>I&#8217;m currently working on upgrading the site&#8217;s theme.   All of the content should be here but might be a little harder to find.  Sorry also for the random banner images.  Hopefully things will be fixed up shortly.</p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
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		<title>Is investing in stocks really investing?</title>
		<link>http://www.ibankingfaq.com/markets-and-investing/is-investing-really-investing/</link>
		<comments>http://www.ibankingfaq.com/markets-and-investing/is-investing-really-investing/#comments</comments>
		<pubDate>Tue, 18 Aug 2009 23:37:27 +0000</pubDate>
		<dc:creator>Andrew</dc:creator>
				<category><![CDATA[Markets and Investing]]></category>

		<guid isPermaLink="false">http://www.ibankingfaq.com/?p=421</guid>
		<description><![CDATA[<p>No.  Buying stocks is speculating.  Even if you&#8217;re buying value stocks.  Even if you&#8217;re planning to hold stocks for the long-term (whatever that means).  I wish more people understood this.  Anytime you spend money on the hope and prayer that the thing you bought appreciates in value, you are speculating, not investing.  Here&#8217;s another way [...]]]></description>
				<content:encoded><![CDATA[<p>No.  Buying stocks is speculating.  Even if you&#8217;re buying value stocks.  Even if you&#8217;re planning to hold stocks for the long-term (whatever that means).  I wish more people understood this.  Anytime you spend money on the hope and prayer that the thing you bought appreciates in value, you are speculating, not investing.  Here&#8217;s another way to think about it.  If you have significant control over your spent money (say, starting a business or building a new factory) then you&#8217;re investing.  If you don&#8217;t then you&#8217;re speculating.</p>
<p>Oh, and one last thing:  speculating is just a more acceptable synonym for gambling.</p>
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