10/15/2009
10/09/2009
Credit Suisse. Recommended Reading
After the Trade is Made – David M. Weiss
An Introduction to Capital Markets (Products & Applications) – Andrew Chisholm
An Introduction to Equity Markets – Reuters
An Introduction to Global Financial Markets – Stephen Valdez
Barbarians at the Gate: The Fall of RJR Nabisco – Bryan Burrough & John Heylar
Beginner’s Guide to Investment – Bernard Gray
Don’t Send a Resume – Jeffrey J. Fox
How the Bond Market Works – Robert Zipf
How the City of London Works – William M. Clarke
Liars Poker: Rising Through the Wreckage on Wall Street – Michael Lewis
Monkey Business: Swinging Through the Wall Street Jungle – John Rolfe
Principles of Corporate Finance – Brealey & Myers
Saving & Investing – Michael Fisher
Securities Operations: A Guide to Trade & Position Management – Michael Simmons
The Money Machine – Philip Coggan
Understanding Derivatives in a Day – Stefan Bernstein
10/01/2009
GUNGA JOHN
You can talk about cachet
And your Harvard MBA
When you're nine-to-fivin' for some white-shoe banker
But when you're market-makin'
And you spend your day risk-takin'
Then it's guts and ice-cold blood for which you hanker
Now at Solly in her prime
Where I used to spend my time
With Billy, Timmy, Tommy, Craig and Ron
Of all that trading crew
The bravest man I knew
Was our legendary leader, Gunga John.
It was "John! John! John!
We bought the IBM deal Gunga John!
Should we hedge? The market's sloppy.
Henry thinks it's pretty toppy.
You'd better make the call here, Gunga John!"
His morning protocol
Was to light a Temple Hall
Then take a little stroll around the store
And while Goldman's Johnnys might
Head for lunch at some chic site
Our Johnny ate with us--right on the Floor!
Yes it's John! John! John!
Not perfect, nor were Koufax, Ford, or Spahn
Tell the guys who worked for Buffett
That in my book they can stuff it!
You're a better man than they are, Gunga John!
And your Harvard MBA
When you're nine-to-fivin' for some white-shoe banker
But when you're market-makin'
And you spend your day risk-takin'
Then it's guts and ice-cold blood for which you hanker
Now at Solly in her prime
Where I used to spend my time
With Billy, Timmy, Tommy, Craig and Ron
Of all that trading crew
The bravest man I knew
Was our legendary leader, Gunga John.
It was "John! John! John!
We bought the IBM deal Gunga John!
Should we hedge? The market's sloppy.
Henry thinks it's pretty toppy.
You'd better make the call here, Gunga John!"
His morning protocol
Was to light a Temple Hall
Then take a little stroll around the store
And while Goldman's Johnnys might
Head for lunch at some chic site
Our Johnny ate with us--right on the Floor!
Yes it's John! John! John!
Not perfect, nor were Koufax, Ford, or Spahn
Tell the guys who worked for Buffett
That in my book they can stuff it!
You're a better man than they are, Gunga John!
9/14/2009
the order of importance in terms of getting the interview
1) Ability for analyst at BB bank to vouch for you to get an interview. This entails networking.
2) School / work experience brand name. Work experience brand is probably more important for internship than for full-time recruiting, since for full-time you're either trading up (i.e. going from UBS to Goldman) or you didn't get an intern offer. Either way, the resume selectors aren't going to be that impressed with your work experience.
3) What you say on the bullets -- only when the BB can't come up with enough applicants via recommendations or brand-name experience applicants will they actually read the bullets and select you based on what you did.
2) School / work experience brand name. Work experience brand is probably more important for internship than for full-time recruiting, since for full-time you're either trading up (i.e. going from UBS to Goldman) or you didn't get an intern offer. Either way, the resume selectors aren't going to be that impressed with your work experience.
3) What you say on the bullets -- only when the BB can't come up with enough applicants via recommendations or brand-name experience applicants will they actually read the bullets and select you based on what you did.
9/10/2009
Goldman CEO Lloyd Blankfein Is King of the World
Now if only he could just enjoy it. Last year, Blankfein, the Brooklyn-born, Harvard-educated son of a postal worker made $68.7 million and bought a $27 million apartment at 15 Central Park West. In the midst of the subprime crisis, his firm just had the best year ever. So why is he so unhappy? "I worry that we're too smug," the Goldman Sachs CEO tellsFortune, "and then I see everyone wringing their hands over the worry that we're too smug, and then I think we're too nuts, and we're destined to have unhappy lives, and we'll always be miserable strivers." Later on in Fortune's lengthy profile, Blankfein says, self-deprecatingly, that "the business media focus on [Goldman] like People focuses on movie stars, except they're better-looking and have more fun." Aw, shucks! Lloyd worries, just like Us!
Are we being played by a man who is actually hyperaware of the media and his own self-image? "I'm always imagining how much worse the headline about Goldman will be when we screw up if we have a quote out there claiming magnificence," he told Goldman's managing directors at a meeting in London in October. "People are dying for us to misstep." After all, as one former Goldman executive puts it, Blankfein may be "funny and self-deprecating," but he "can reach across the table and rip your throat out when it's warranted."
9/02/2009
The True I.Banker Look
Suits: Wearing black suits is restricted to funerals and evening activities. The colours of business are dark grey/charcoal and dark navy blue. If you must get pinstripes, please get very thin ones. Make sure your suit jacket is double vented at the back lest you look like a bible salesman
Shirts: Two colours only: White and light(!) blue. Blue with white stripes is also ok. By all means steer clear of any “smart” colours like purple, pink, green etc. if you can’t pull it off properly (if you are an intern you can’t do it by default). Grey and yellow/beige shirts are hideous to look at when combined with a suit (usually without a suit as well). Don’t buy a shirt with a button-down collar if you plan on wearing a tie with it. Barrel cuffs are ugly, but I reckon wearing french cuffs with proper cufflinks might alienate a few guys on the street when worn by an intern. Get the french cuffs when you are promoted.
Ties: When combining patterned ties with a patterned shirt, you quickly look like an optical illusion. Can’t go wrong if you only purchase solid ties (very very small patterns look solid from further away).
Shoes: You forgot a key ingredient of adequate “white shoe firm” footwear: A leather sole! Stop bitching about expensive shoes. You pay for what you get, good ones will last you a long time. But thanks for helping readers to stay away from those square-toe, rubber-soled abominations by Kenneth Cole et al.
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