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Wednesday 26 June 2013
Quantum Dawn 2: War on Wall Street
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Labels:
IB
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Life in IB
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Quantum Dawn
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Trading
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War Stories
Sunday 9 June 2013
Trials by Fire & Water - Part II: Acing the Trials
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But of course, just knowing what hurdles you will
be facing is not enough – you also need to know how to cross those hurdles and
what mistakes to avoid. So in this post, I will attempt to help you do just
that in Part II of Trials by Fire and
Water – Acing the Trials.
Labels:
101 Series
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Breaking In
,
IB
,
Interviews
,
PE
Saturday 25 May 2013
Finance Books: The Best of Non-Technical Recommendations
If you are interested in finance and like reading,
check out the books below. None of them are technical books – they’re all
Wall Street War Stories. While some are hilarious stories of people who have
worked in finance, others are gripping tales of hedge funds and the collapse of
the world’s stock markets in 2008.
Every single one of these books comes heavily
recommended and all are considered to be among the best books ever written on
Finance. From a common-man point of view, believe it or not, some of the books listed
here will beat the best thrillers that you have ever read.
Labels:
101 Series
,
Breaking In
,
Finance Books
,
IB
,
Life in IB
,
PE
Sunday 12 May 2013
Bateman Interviews: CEO - "I'm a guy who gets things done"
It’s
been a while since I posted a new interview, so I thought what better way to
get back to the job than an interview with the top guy in a company? I recently
got a chance to have a lengthy one-on-one conversation with CEO of the biggest flower company in India.
He is a person who has reached where he is today, solely on the basis of sheer
hard work and a determination to move ahead. In today’s plethora of
MBA-wielding C-level executives, it’s hard to believe that he is not even a graduate. Today, he has over
27 years of experience and is considered an authority in the retail and
e-commerce segments.
Read
on if you are interested in a wealth of free information in an uninhibited
conversation, with the sort of person most of us don’t even get to meet.
Without further ado, presenting Mr. Pawan Gadia, CEO, Ferns N Petals.
Labels:
Bateman Interviews
,
Interviews
,
Networking
Sunday 14 April 2013
IB & PE Interviews: The Trials by Fire and Water
So
you have finally received that interview call from the PE firm in Mumbai.
Great, congrats! But now you’re worried sick about what exactly they are going
to grill you on. Will you be asked to pitch stocks or be required to build a
full-blown DCF model in an hour?
Well,
if you know what PE is, then you know you won’t be pitching stocks in the
interview; but yeah, that DCF model with multiple scenarios is fair game. And
now that I have successfully scared you about IB/PE interviews (if you still aren't scared, you should be –
thinking back on my own interview experiences still gives me the chills),
let’s talk about just what happens in IB & PE interviews. In Part II, we’ll see how we can
come out of these grilling sessions alive and in one piece.
Like
any other industry, there’s no fixed rule for the interview process. However, there
are certain parts of the interview process that you will find in all IB and PE
interviews. In keeping with the theme of the blog, this post will give you a true sneak-peak
into the interview process at most firms.
Read
on to know all about IB & PE Interviews: The Trials by Fire and Water.
Sunday 31 March 2013
Breaking In: From IT-support to PE Fund Manager
Wait, what? After all my raving on how it is near impossible to break into IB from back office financial analysis, now I’m
talking about freaking IT support intern
to Private Equity Fund Manager?
All right, calm down. You see, the key words in
the above sentence are “near
impossible”. This is the story of a guy
who made this seemingly impossible story turn true. He went from being an intern
in IT-support to Investment Banking Analyst to where he is today – running his own PE fund.
Read on to find out if fairy tales exist in real
life.
Sunday 24 March 2013
Private Equity: The Inside Story
In the previous post on Private Equity, I provided
an overview of what the industry is all about. But for those interested in
knowing the minutiae of how a PE firm operates, this post will satisfy their
queries. It is a gloves off, no-holds-barred post which will tell you all about the internal workings of a Private Equity firm.
Fair warning:
Hold on to your horses, folks. This one is gonna get technical. In case you do proceed, make sure to read to the end - that's where you'll find the best part.
Monday 18 March 2013
Private Equity 101
Since
the inception of this blog, I have been talking about Investment Banking. But
what about the other areas of “high finance” – IB’s cousin Private Equity and
the distant relative called Hedge Funds? So today, let’s go pay a visit to that
rich cousin whom IB envies – PE.
This
is the second post in Bateman Begins 101 Series and will introduce you to the
little-known world of Private Equity. You can get the definition of PE from
anywhere, but below you will find out what actually happens in PE, why it is
considered to be “better” than IB and
most importantly, why it is so bloody difficult to break in.
So
without further ado, introducing Private Equity – the promised land. What even
investment bankers dream of.
Saturday 2 March 2013
Life in IB: The best IB story I've ever read - From WSO
Came
across this gem on WSO and just had to share it. It's written as a comment by
one of the best posters on WSO and I wanted to share it here. It is without a
doubt the among the most awesome IB stories I have ever read. Kudos to
rufiolove!
Background:
The original poster had posted some tips on how to get out of getting staffed
on weekends. The relevant tip is below, followed by rufiolove's comment.
Caution: The
language used below might not be suitable for sensitive readers.
Thursday 28 February 2013
Breaking In: Cold - Calling
Now that you have read the interview with DivyaAggarwal, it’s safe to assume that you must be even more interested in getting
into IB. Because if you are not, then you are reading the wrong blog. So let’s
come back to the ways which can turn that IB dream into a reality.
In my earlier post about methods of networking, I
mentioned that cold calling is one of the most effective ways of breaking into
finance. This post will tell you how to
cold call so that you can get the best results.
Also, some reminders:
- Cold calling works best at the smaller places. So if you’re targeting BB banks, you might want to rethink your strategy.
- Do not expect success in 10 phone calls. If you’re calling for a job, you might have to try anything from 20 to 100 times, or even more, before you get your first tangible lead. But if you’re calling for an informational interview, your chances are much better.
- But, all it takes is one affirmative answer to turn that lead into an interview.
Friday 22 February 2013
Bateman Interviews: "A day in IB begins with a BBM and ends with a BBM"
I
recently had the opportunity to speak with Divya Aggarwal, an Investment Banking
Analyst at Avendus Capital,
one of the top investment banks in India. She was excited to learn about this
blog and was happy to provide an inside peek into the world of IB. Over a
course of 3 weeks, I was finally able to finish this interview (read on to find
out why it took so long).
Divya
Aggarwal is a qualified CS and CFA L2 candidate and has past experience in
Consultancy at Mckinsey and M&A advisory services at KPMG. And
below, she’ll give you answers to whether IB is like a relationship or a
marriage, why analysts have a love-hate relationship with their Blackberry and
why even investment bankers aspire to move to the buy side.
Labels:
Bateman Interviews
,
Blackberry
,
Breaking In
,
Buy-Side
,
IB
,
Life in IB
,
PE
Friday 8 February 2013
Networking - How a casual conversion in a train can get you into IB
A friend recently pointed out to me
that networking techniques are relevant not just for IB, but for every industry
out there. While this is true, the reality that I have seen is that a very
small percentage of youngsters who are just starting out resort to networking.
The reasons may differ from hesitation
to simply a lack of awareness as to how to network. Therefore, as I promised earlier, this post will be dedicated solely to networking methods. Read on to find
out the best methods for networking in India.
Tuesday 29 January 2013
Breaking Into Investment Banking
Now
that you are sufficiently educated in what investment banking is, the question
arises as to how to actually break into this industry. This is gonna be a long one, but I'm gonna make it worth your while. Read on to find out why.
A select world:
The usual advice prospective monkeys get is to work hard, prepare for interviews, so on and so forth. No one ever tells how to get that interview in the first place. Because make no mistake, landing an interview in IB in India itself is no small matter.
A select world:
The usual advice prospective monkeys get is to work hard, prepare for interviews, so on and so forth. No one ever tells how to get that interview in the first place. Because make no mistake, landing an interview in IB in India itself is no small matter.
Thursday 24 January 2013
The Investment Banking Hierarchy
Now
that you know what investment banking is and what bankers do, the question
arises as to which stage you will
fit in and what you will do. Without further ado, let's jump right in.
So which level
monkey are you?
The
IB hierarchy is well defined and rigorously imposed. There may be minor differences in naming at some banks, but the generally accepted designations
are as follows:
Sunday 20 January 2013
Bateman Interviews: Investment research in three distinct fields, breaking in and more.
For the inaugural interview with Bateman
Begins, I have with me a Chartered Accountant, CFA charter holder and one of
the most active volunteers in the Indian CFA Society. With almost 10
years of experience in hedge funds research, credit analysis and bond trading analysis, he has
been at the centre of a universe which most of us only dream of.
An avid educational volunteer and guest lecturer at several reputed institutions, there are few people better placed to advise prospective monkeys. So without further ado, I present to you Mr. Biharilal Deora in the very first of Bateman Interviews:
An avid educational volunteer and guest lecturer at several reputed institutions, there are few people better placed to advise prospective monkeys. So without further ado, I present to you Mr. Biharilal Deora in the very first of Bateman Interviews:
Labels:
Bateman Interviews
,
Breaking In
,
CA
,
CFA
Friday 18 January 2013
Tuesday 15 January 2013
Investment Banking 101
This
is the first in a series of posts that will briefly describe the various
areas of the Finance industry
While this blog is not intended for theoretical
education, I felt that a short description of each part of the Finance
industry is warranted. Therefore, if you already are well aware of what IB is,
feel free to skip this one.
About the Blog
Welcome
to Bateman Begins.
Bateman Begins is about life in high finance - not stock tips and clueless musings on the economy - but about the elusive world of Private Equity and Investment Banking. It's about a world which very, very few people get to experience. Read on, and Bateman Begins will arm you with some unusual tips on breaking in, exclusive, inside-view interviews with industry professionals and much, much more.
What makes this blog different from a truck load of other finance blogs out there?
For the very first time in India, Bateman Begins gives you a peak into what some call "high finance". Every other blog out there in India focuses on investing, money management and the economy. While there are other websites and blogs on private equity, investment banking and hedge funds, they are all based in developed markets, where the practices are radically different from what we find in India. Bateman Begins attempts to plug the gap.
Bateman Begins is about life in high finance - not stock tips and clueless musings on the economy - but about the elusive world of Private Equity and Investment Banking. It's about a world which very, very few people get to experience. Read on, and Bateman Begins will arm you with some unusual tips on breaking in, exclusive, inside-view interviews with industry professionals and much, much more.
What makes this blog different from a truck load of other finance blogs out there?
For the very first time in India, Bateman Begins gives you a peak into what some call "high finance". Every other blog out there in India focuses on investing, money management and the economy. While there are other websites and blogs on private equity, investment banking and hedge funds, they are all based in developed markets, where the practices are radically different from what we find in India. Bateman Begins attempts to plug the gap.
Feel
free to comment or ask questions. And of course, it goes without saying – if
you like what you read, spread the word around by sharing. Happy reading!
Click here to go to the Bateman Begins Facebook page.
About
the author:
I am a Chartered Accountant who broke into Private Equity as a fresher. I started this blog soon after I received my offer from the PE firm. Considering the number of hours that I work, it’s a matter of time before I go full American Psycho. And hence the name of the blog, Bateman Begins.
Click here to go to the Bateman Begins Facebook page.
I am a Chartered Accountant who broke into Private Equity as a fresher. I started this blog soon after I received my offer from the PE firm. Considering the number of hours that I work, it’s a matter of time before I go full American Psycho. And hence the name of the blog, Bateman Begins.
Disclaimer:
I am heavily inspired by Brian DeChesare’s www.mergersandinquisitions.com. While an
excellent website, its data on Indian IB/PE industry is limited; as is the
case with every other website on the net. This is what motivated me to start
something of the sort with an exclusive focus on India.
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