...Careers in Investment Banking WetFeet Insider Guide 2005 Edition The WetFeet Research Methodology You hold in your hands a copy of the best-quality research available for job seekers. We have designed this Insider Guide to save you time doing your job research and to provide highly accurate information written precisely for the needs of the job-seeking public. (We also hope that you’ll enjoy reading it, because, believe it or not, the job search doesn’t have to be a pain in the neck.) Each WetFeet Insider Guide represents hundreds of hours of careful research and writing. We start with a review of the public information available. (Our writers are also experts in reading between the lines.) We augment this information with dozens of in-depth interviews of people who actually work for each company or industry we cover. And, although we keep the identity of the rank-and-file employees anonymous to encourage candor, we also interview the company’s recruiting staff extensively, to make sure that we give you, the reader, accurate information about recruiting, process, compensation, hiring targets, and so on. (WetFeet retains all editorial control of the product.) We also regularly survey our members and customers to learn about their experiences in the recruiting process. Finally, each Insider Guide goes through an editorial review and fact-checking process to make sure that the information and writing live up to our exacting standards before it goes out the door. Are we perfect...
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...Evaluating Performance 1. Introduction Choosing investments is just the beginning of your work as an investor. As time goes by, you’ll need to monitor the performance of these investments to see how they are working together in your portfolio to help you progress toward your goals. Generally speaking, progress means that your portfolio value is steadily increasing, even though one or more of your investments may have lost value. On the other hand, if your investments are not showing any gains or your account value is slipping, you’ll have to determine why and decide on your next move. In addition, because investment markets change all the time, you’ll want to be alert to opportunities to improve your portfolio’s performance, perhaps by diversifying into a different sector of the economy or allocating part of your portfolio to international investments. To free up money to make these new purchases, you may want to sell individual investments whose performance has been disappointing while not abandoning the asset allocation you’ve selected as appropriate. To assess how well your investments are doing, you’ll need to consider several different ways of measuring performance. The measures you choose will depend on the exact information you’re looking for and the types of investments you own. For example, if you have a stock that you hope to sell in the short term at a profit, you may be most interested in whether its market price is going up, has started to slide or...
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...horizon to group communication, Organizational communication and then to mass communication. The time where we live is 21st century and this period is very well known for its development in science and information technology. Nowadays emails, internet, fax, phones, mobiles, television are very common. And these are the tools that have made communication easier, faster, and reliable. At present it takes no time to communicate from one corner of the world to other. In this relation, the whole world is being looked at as a single community that is connected by electronic communication systems. Thus, globalization can be defined as the integration and democratization of the world’s culture, economy, and infrastructure through the transnational investment, rapid proliferation of communication and information technologies, and the impacts of free-markets on local, regional, and national economies. Globalization mainly deals with the interconnectedness of the people in a global manner. It is due to the globalization that we are so much adapted and...
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...The Banker Blueprint: The Last-Minute Guide to Breaking Into Investment Banking A Production http://breakingintowallstreet.com http://www.mergersandinquisitions.com http://breakingintowallstreet.com http://www.mergersandinquisitions.com Feel free to copy this report and send it to all your friends. Actually, scratch that – please copy this report and send it to all your friends. Forward it to as many people as possible. The more the merrier! Print it out, pass it around, and hand out copies to everyone you know. Just make sure you keep the names and logos on each page intact. Table of Contents Why I Wrote This Guide and What You’re Going to Learn ........................................................... 4 Reality Checks and Beaches in Thailand .......................................................................................... 4 Action Plan, Step 1: Plan Your Strategy ........................................................................................... 6 Your Strategy: Action Steps ........................................................................................................... 9 Action Plan, Step 2: Craft Your Story ............................................................................................. 10 Your Story: Action Steps .............................................................................................................. 14 Action Plan, Step 3: Network Like a Ninja .....................................................
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...the New York investment banking firm of Rubin, Stern, and Hertz (RSH), was in a bind. His star semiconductor analyst, Peter Thompson, had abruptly announced his resignation; he had received an offer from one of RSH’s competitors. But Peter was not only a star analyst, he was also RSH’s only semiconductor analyst. This was certainly not a role that could be left vacant for long and, right now, RSH particularly needed strong coverage of the semiconductor industry because of an upcoming deal with the PowerChip company. (See Exhibit 1.) Stephen examined how much money Peter generated for the firm and saw that he could legitimately raise Peter’s compensation. Then he devised a backup plan: to split Peter’s team by encouraging Peter’s junior analyst, Rina Shea, to stay at RSH. Peter ended up leaving the firm and Stephen promoted Rina to senior analyst, assigning her to cover PowerChip and the rest of the semiconductor industry, at least temporarily, while he decided whether to offer her the position permanently or hire someone from outside the firm. Now Stephen faced the task of finding a permanent replacement for Peter. Should he make Rina a permanent offer or hire from outside? RSH Research Department RSH’s corporate culture was especially strong in its research division. Senior research analysts often began as junior analysts and remained at the firm long after the research director gave them their own franchises. Instead of competing with each other, most analysts at the firm supported...
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...York investment banking firm of Rubin, Stern, and Hertz (RSH), was in a bind. His star semiconductor analyst, Peter Thompson, had abruptly announced his resignation; he had received an offer from one of RSH’s competitors. But Peter was not only a star analyst, he was also RSH’s only semiconductor analyst. This was certainly not a role that could be left vacant for long and, right now, RSH particularly needed strong coverage of the semiconductor industry because of an upcoming deal with the PowerChip company. (See Exhibit 1.) Stephen examined how much money Peter generated for the firm and saw that he could legitimately raise Peter’s compensation. Then he devised a backup plan: to split Peter’s team by encouraging Peter’s junior analyst, Rina Shea, to stay at RSH. Peter ended up leaving the firm and Stephen promoted Rina to senior analyst, assigning her to cover PowerChip and the rest of the semiconductor industry, at least temporarily, while he decided whether to offer her the position permanently or hire someone from outside the firm. Now Stephen faced the task of finding a permanent replacement for Peter. Should he make Rina a permanent offer or hire from outside? RSH Research Department RSH’s corporate culture was especially strong in its research division. Senior research analysts often began as junior analysts and remained at the firm long after the research director gave them their own franchises. Instead of competing with each other, most analysts at the...
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...BLAW 2210 Term Paper Career Preparation My top two career choices are corporate financial analysis in investment banking and actuary. I will be discussing the legal environment of my career choices, taxing authorities, entity structure, graduate school in order to obtain certain license, self-assessment of my chosen careers. First, I will discuss how I can work as a corporate financial analysis in investment banking. After that, I will talk about what I need prepare to be an actuary. 1.corporate financial planning and analysis The responsibility of a corporate financial planing and analysis is to support management planning and decision making by identifying, maintaining, and evaluating information,as well as recommending actions. * Legal environment * Entity structure Investment banking is concerned with the primary function of assisting the capital market in its function of capital market intermediation, i.e. the movement of financial resources from those who have them means investors, to those who need to make use of them means issuer for generating profit. Therefore, it can be inferred that investment banks are those institutions that are the counterparts of banks in the capital market in the function of intermediation in resources allocation. Investment banks carried on carious activities it helps companies and governments and their agencies to raise money by issuing and selling securities in the primary market. They assist public and private corporations...
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...financial-related field, albeit not direct equity investing experience. Landing a buy-side job is extremely difficult. This is pretty much common knowledge among MBA candidates, but let’s walk through the reasons why. First, the job is very appealing to those interested in finance – it’s challenging, fulfilling, intellectually stimulating, and potentially very rewarding. You generally don’t have to work quite as many hours as investment bankers or even management consultants, but have the potential to earn more. This results in many, smart and talented candidates looking for buy-side roles, leading to a high supply of labor. On the demand side, investment management is a scalable business, where hiring needs are not directly proportional to assets under management. For example, in order to manage $100 million in stocks, a fund might start out with a PM and two analysts. When the fund hits $300 million, they might add one analyst, and perhaps one more when the fund reaches $500-$700 million. In this example, while AUM went up by five to seven times, the fund’s analyst staff increased by just two times. As a result of these factors affecting both supply/demand, the number of candidates seeking positions far exceeds the number of available seats, and the process is very competitive. There are two general paths to the buy-side from the MBA program – the first is to land a summer internship at a large mutual fund company (Fidelity, T Rowe...
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...Times One of Forbes’ 33 “Favorite Sites.” – Forbes “To get the unvarnished scoop, check out Vault.” – SmartMoney Magazine “Vault has a wealth of information about major employers and job searching strategies as well as comments from workers about their experiences at specific companies.” – The Washington Post “A key reference for those who want to know what it takes to get hired by a law firm and what to expect once they get there.” – New York Law Journal “Vault [provides] the skinny on working conditions at all kinds of companies from current and former employees.” – USA Today Customized for: Mian Badr (mian.iftikhar@studbocconi.it) Customized for: Mian Badr (mian.iftikhar@studbocconi.it) VAULT CAREER GUIDE TO MIDDLE MARKET INVESTMENT BANKING JOE BEL BRUNO AND THE STAFF OF VAULT Customized for: Mian Badr (mian.iftikhar@studbocconi.it) Customized for: Mian Badr (mian.iftikhar@studbocconi.it) Copyright © 2009 by Vault.com, Inc. All rights reserved. All information in this book is subject to change without notice. Vault makes no claims as to the accuracy and reliability of the information contained within and disclaims all warranties. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without the express written permission of Vault.com, Inc. Vault, the Vault logo,...
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...Global Perspectives on Investment Management LEARNING FROM THE LEADERS Conversation with a Money Master BILL MILLER, CFA with FRED H. SPEECE, JR., CFA Bill Miller, CFA, is chairman and chief investment officer at Legg Mason Capital Management, Inc., and was named ‘‘The Greatest Money Manager of the 1990s’’ by Money magazine. In this question and answer session, Fred H. Speece, Jr., CFA, interviews Bill Miller about his insights into portfolio management in general and value investing in particular. Continuing a tradition of lifelong learning a cfa institute publication Conversation with a Money Master BILL MILLER, CFA Bill Miller, CFA, is chairman and chief investment officer at Legg Mason Capital Management, Inc., and was named ‘‘The Greatest Money Manager of the 1990s’’ by Money magazine. In this question and answer session, Fred H. Speece, Jr., CFA, interviews Bill Miller about his insights into portfolio management in general and value investing in particular. Speece: You have an impressive long-term track record as a portfolio manager. Given today’s very efficient and sophisticated market, do we still have room for stock picking? Miller: When we discuss market efficiency, we run into a semantic issue about what exactly is meant by the term ‘‘market efficiency.’’ At Legg Mason, we believe that the markets are pragmatically efficient, which means that they are extremely competitive and usually beat most active managers. For example, fewer than 35 percent of...
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...GMT THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2012 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. APRIL 24, 2012 / 12:00PM, 2498.TW - Q1 2012 HTC Corp Earnings Conference Call CORPORATE PARTICIPANTS Peter Chou HTC Corp - CEO Chialin Chang HTC Corp - CFO Joey Cheng HTC Corp - Director, IR CONFERENCE CALL PARTICIPANTS Ben Lu Seligman - Analyst Will Power Robert Baird & Co - Analyst Richard Ko - Analyst Alban Cousin Arete Research - Analyst James Faucette Pacific Crest Securities - Analyst Dan McComb Viking Global Partners - Analyst PRESENTATION Operator Welcome, everyone, to HTC's 2012 Q1 results conference call and webcast in English. Today with us we have CEO, Mr. Peter Chou; CFO, Mr. Chialin Chang and IR Director, Mr. Joey Cheng. All lines have been placed on mute to prevent the background noise and after the presentation there will be a question and answer session. (Operator Instructions). For your information, this conference call is now being broadcasted live on the Internet. Webcast replay will be available within an hour after the conference is finished. Please visit www.htc.com under the Investor Relations section. Now I would like to introduce Mr. Peter Chou...
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...Stock Investing FOR DUMmIES 2ND by Paul Mladjenovic ‰ EDITION Stock Investing FOR DUMmIES 2ND ‰ EDITION Stock Investing FOR DUMmIES 2ND by Paul Mladjenovic ‰ EDITION Stock Investing For Dummies® 2nd Edition , Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2006 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. Requests to the Publisher for permission should be addressed to the Legal Department, Wiley Publishing, Inc., 10475 Crosspoint Blvd., Indianapolis, IN 46256, 317-572-3447, fax 317-572-4355, or online at http://www.wiley.com/go/permissions. Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the...
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...1 / 57 http://breakingintowallstreet.com/ http://www.mergersandinquisitions.com/ Feel free to copy this report and send it to all your friends. Actually, scratch that... Please copy this report and send it to all your friends. Forward it to as many people as possible. The more the merrier! Print it out, pass it around, and hand out copies to everyone you know. Just make sure you keep the names and logos on each page intact. http://breakingintowallstreet.com/ http://www.mergersandinquisitions.com/ 2 / 57 Table of Contents Why I Wrote This Guide and What You’re Going to Learn ......................................... 3 Does This Guide Apply to You? ................................................................................. 4 How to Become a Drug Dealer................................................................................... 5 Why Would a Bank, or Any Company, Want to Hire You? ......................................... 8 Action Plan, Step 1: Plan Your Strategy ................................................................... 10 Your Strategy: Action Steps ..................................................................................... 15 Action Plan, Step 2: Craft Your Story ....................................................................... 16 Your Story: Action Steps .......................................................................................... 22 Action Plan, Step 3: Network Like a Pro..........................................
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... Meaning you buy and sell them in real time just like stocks -- except that with an ETF you're controlling hundreds of stocks with a single trade! Giving you the power to instantly diversify your portfolio or quickly seize opportunities to profit from coming macroeconomic trends (like an energy crisis or a housing boom) that could push a basket of stocks up or down. A quick example: Want to tap into the wealth-building power of the international markets? (And hedge against your U.S. investments?) Purchase an ETF that tracks the developed international markets of Europe, Australasia, and the Far East (the MSCI EAFE Index). It's like adding 800 of the very best international stocks to your portfolio -- instantly! And for just 0.35% in annual fees. One more: You may have heard the old adage "Small caps lead bull markets." Truth is, small caps don't just lead into bull markets, they charge into them -- handing investors an average return that's more than double that of the S&P 500, according to data from RidgeWorth Funds (a Lipper Award-winning firm). Want to expose your portfolio to that kind of growth? All you have to do is snap up an ETF that mirrors the small-cap index -- the Russell 2000. And it costs you less than 0.25% annually. That's 65% cheaper than what the average mutual fund charges. And you're harnessing the collective power of thousands of stocks. With ETFs, you're able to buy a diversified group of stocks from any sector, market capitalization, region...
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...was about the best year in a decade — fast growth and low inflation.” The 10.7 percent growth recorded in 2006 was the fourth consecutive year of double-digit economic growth and China’s strongest year since 1995, when the economy grew 10.9 percent. The economic miracle — fueled by soaring exports and huge investments in buildings, roads and cities — goes on even in the face of frequent warnings from government officials and private specialists about asset bubbles, excessive bank lending and an overheating economy. “Right now, the economy is growing at the upper limits of what is acceptable,” said Li Lianfa, an economist at Peking University. “The government is facing a lot of challenges.” Chief among them are balancing the supersize growth and heavy investment, and trying to distribute the riches as evenly as possible. Analysts say the government is determined to keep the economy revving, but is also wants to prevent anything from spoiling the party before 2008, when Beijing is to play host to the Olympic Games. To help cool the economy, Beijing has raised interest rates and pressured banks to temper lending, with some results. Fixed-asset investment slowed in the latter part of last year, for instance, and economic growth in the last months of 2006 slowed from a feverish second-quarter pace of 11.5 percent. Many economists are now forecasting that Beijing will take additional steps, possibly raising...
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