Very cool informative thread OP. Repped.
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10-04-2013, 01:30 PM #121
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10-04-2013, 01:31 PM #122
I didn't have kids until I was a senior VP. With the seniority and the market downturn, it got easier to spend quality time with them. Most people will say I'm an unusually doting father. I think I am. I'm grateful for the downturn for that reason. I wouldn't trade those bad years for good years and good comp, if I had to spend more time away from my boys.
You should have told me. I didn't know you were in the field.
For the same reason young hollywood types do it. It makes us feel better about our decisions, and we think it might help get chicks.
They make a lot of money for kids out of undergrad, I will say that. But I will also say that for Manhattan, I was middle-class and I was a managing director.I'm always angry.
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10-04-2013, 01:31 PM #123
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10-04-2013, 01:32 PM #124
That last sentence is so true it makes me want to cry. I close very minor deals compared to you (300M max), but we do wind up in the odd string of all-night grind session closing proposals with a similar structure of people. Going over stuff for the 1000th time combing for mistakes and none of it makes sense anymore because its 2am and you are cross eyed and sick from the caffeine.
I do this maybe 5-6 days a quarter, with 2:00pm golf hooky days to make up for it. If you told me I had to do it 7 days a week for 15-30 weeks I would want to die. I would for sure quit.------♥♥-----
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10-04-2013, 01:32 PM #125
interesting thread, although I'm not even planning on going into finance/banking. What is your opinion on college OP? Would you say only certain majors are worth getting into or would say the reputation of a particular school is more important?
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10-04-2013, 01:34 PM #126
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10-04-2013, 01:34 PM #127
Hey Op,
I would value your input on something, I'm starting a business brokerage and what do you think is the best way to attract clients to list their business with us ?
- targeted emails
- mass faxing
- cold calling
- Online seo
I'm going to be doing all of the above just looking at where to focus. When you did M&A how did you guys get clients/leads ?
thanks,
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10-04-2013, 01:35 PM #128
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10-04-2013, 01:37 PM #129
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10-04-2013, 01:38 PM #130
As a M&A specialist, how did you decide on how purchase a company? You worked for a company and they want to buy "corp xyz" so that they can get access to their customer base and man power. I know in many instances that sometimes the buying company tends to get the shorter stick. I guess I'm just curious to know what are the top 3 reasons why a company will want to merge/buy another company, like what are some typical stratgies for 100+ million dollar plus companies and 1 billion dollar plus companies?
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10-04-2013, 01:38 PM #131
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10-04-2013, 01:38 PM #132
Hehe, I'm famous.
Yes, I will say that everyone tends to exaggerate their hours. But I worked in a particularly bad analyst program, which is what I've always said. I've just always declined to say which group/firm.
The analysts at the BB M&A shops I worked in had it bad, I will tell you that. But at my later banks, late meant midnight, not 4am like it was for us.
Also, I think much has changed, structurally. People haven't been paid in years. They're not willing to knock themselves out anymore for the pay they're getting. They'll work until 10, but not until 3.
You could see that among my MD peers. During the good years, half of them would still be there at 8pm. After 2008, it got to be a ghost town on MD row by 7:30.
That attitude has filtered down through the ranks, and I can't blame them. I'd feel the same way. But I think it will be hard, even when the market picks up, to ever get people to do what Moelis or Lorello did in the old days. That culture is gone, and will be hard to bring back to life.I'm always angry.
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10-04-2013, 01:40 PM #133
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10-04-2013, 01:42 PM #134
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10-04-2013, 01:44 PM #135
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10-04-2013, 01:46 PM #136
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10-04-2013, 01:46 PM #137
Which way? If you want a Comp M4, absolutely I'll take a T1.
I got six Comp M4s but only 3 T1s, and I like the micros better.
Most of them room in groups. You're not at home enough to really enjoy it much anyway - better to live with 3 or four others and get the rent down.
The good news is that your primary expenses will be rent, clothes, transportation and alcohol. The firm will end up paying for all of your dinners anyway. I didn't go to the grocery store for the first two years I was an analyst.I'm always angry.
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10-04-2013, 01:47 PM #138
Do guys from places other than the US, in particular Pakistan, have a chance of joining a major, bulge bracket firm for IB? What steps do you think should be taken to improve the odds? Does having passed CFA help in the process?
Pls respawn."Everybody Pities The Weak; Jealousy You Have To Earn."
- Arnold Schwarzenegger
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10-04-2013, 01:49 PM #139
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10-04-2013, 01:52 PM #140
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10-04-2013, 01:53 PM #141
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10-04-2013, 01:53 PM #142
I miss the idea of the city. I regret taking NYC away from my boys.
But the reality of it? There's very little I miss about the city.
I like guns, not good for NYC.
I hate nanny-state-ism, not good for NYC
I don't go out much, NYC is lost on me
The truth is my life changed very little, except for the better when I left
The market sucks anyway. it would be hard right now even if you were a 4.0 Wharton grad. Find an interesting job, do well in it, use it to get into a top b-school and consider banking after your MBA if you really still want to do it.
This actually is not my area of expertise, but conceptually yes it should be true.I'm always angry.
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10-04-2013, 01:58 PM #143
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10-04-2013, 02:03 PM #144
If you're ever in Toga, let me know. Live right downtown. Those horse races. Interesting stuff, I come from engineering so I can't speak in much to regards of all this but definitely has me thinking. Keep up the good posts.
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necessarily reflect the views of my employer.
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10-04-2013, 02:03 PM #145
Local VC or angel most likely.
Only after returning videotapes
CFA is not that important, except to show you have commitment. There are a ton of young desi (both Indian and Pakistani) bankers on Wall Street. The Pakistani ones though do mostly come from wealthy Pakistani families.
Sure, why wouldn't you?
The short answer is that I don't decide to acquire a company. My client does.
I suggest possible candidates for him, sure. That's one of the ways I build the relationship, and one of the ways I plant a flag on an idea. "Hey, I brought that idea to you!"
Companies buy companies because:
-Vertical Integration - you buy a company either up or downstream in the food chain, like a supplier or a customer. You have more control over your operation as a result.
-Horizontal integration - you buy a competitor or a complementary business. Maybe you make computers and think you can create a tablet by buying a mobile phone company. Presumably, you think you can either get better market power, or reduce costs by eliminating redundancies. Interesting story about how my coverage partner once nearly sent my clients to prison for violating the Sherman Act (by accident). It was a semi-innocent mistake by someone who wasn't used to advising industry giants. The thing is, if you are in an oligopolistic field and your clients are selling a commodity product, you have to be very careful. In any other situation, merger partners would discuss things like their pricing strategy etc. Here, that's illegal. We needed to blind all pricing discussions including disclosure of each side's prices to their customers a complete secret until the merger was complete. My coverage partner had no idea that was an issue when he arranged a sales diligence session between the two organizations. I intervened, squashed the meeting and kept them out of jail. For the closing dinner I bought them all orange jumpsuits.
-Financial returns - you don't really care what they make. You buy them because they make money, and you can get good financial returns (this is what VC and PE firms do)I'm always angry.
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10-04-2013, 02:07 PM #146
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10-04-2013, 02:08 PM #147
10/10 thread despite the fact that I understand roughly 3.50% of what has been said ITT. Love NYC though.
General question: At my age is it worth taking a job that pays terrible but is good experience and looks great on a resume? (I'm in real estate FYI). I go back and forth between feeling entitled/wanting more $$ and being grateful for what I already have.
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10-04-2013, 02:09 PM #148
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i had no success looking for FT work
help?*top tier ivy because grandpa donated half the buildings crew*
*family coat of arms in our foyer crew*
*have to breathe into a paper bag if i see a guy juicier than me crew*
*adrenaline rush when a girl looks in my direction crew*
*rush home from the gym to admire my pump crew*
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10-04-2013, 02:12 PM #149
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10-04-2013, 02:12 PM #150
Actually I do have a question to ask you, what's your opinion on the merger between TEL (Tokyo Electron) and AMAT (Applied Materials)? I work for the former and find this joint venture very interesting and to be quite the lucrative oppurtunity considering the IP sharing down the road, which could also corner the semiconductor market for specialized tools
The views expressed on this Web site/Weblog are mine alone and do not
necessarily reflect the views of my employer.
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