NEW HERE? LEARN MORE
closeclose
Last visit was: 29 Apr 2024, 09:43 It is currently 29 Apr 2024, 09:43
Decision Tracker
My Rewards
New posts
New comers' posts

Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

Investment Mgmt Internships

SORT BY:
Date
Kudos
   1   2 
avatar
naturallight
Current Student
Joined: 24 Aug 2005
Posts: 260
Own Kudos [?]: 7 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   16 Jan 2008, 20:01
cbreeze wrote:
So, if you are a chartered CFA, that means you had 4 years of relevant work experience ? I hope you don't mind my asking why you are pursuing an MBA if you have the official charter?
I have a friend, a sell side analyst, is a CFA but does not think an MBA is necessary.


yep, I have the work exp. There were lots of reasons why an MBA appealed to me, but in terms of the CFA, I felt like the CFA provided the knowledge, and an MBA provided the job opps. I think it would be hard to break into a lot of the top tier funds without an MBA. Some firms only hire their MBA interns, so it's a really tough nut to crack w/o an MBA.

Also, if you look at the leaders of investment firms, they frequently have MBAs. So maybe a CFA would suffice in the initial years, but down the road, if I wanted to take more of a firm leader role, an MBA would help. Better to do the MBA now.

Ultimately, your friend is right--nobody in business really needs an MBA, whereas lawyers need law degrees and doctors need med degrees. However, if you can get into a top 15 program and your personal circumstances allow you to go, you'd be crazy not to. The career options it opens up are staggering.
User avatar
Bdevil25
Manager
Manager
Joined: 27 Sep 2007
Posts: 81
Own Kudos [?]: 15 [0]
Given Kudos: 0
Location: Durham, NC
 Q47  V44
Send PM
Re: Investment Mgmt Internships [#permalink] New post   04 Feb 2008, 15:39
naturallight wrote:
forcefeed wrote:
Do you have any tips on how to prepare for IM before heading to bschool?


I think I wrote a big post on this last year, but here's the short version:

- read as many books on investing as you can
- build your own stock portfolio
- write up a long and a short stock pitch
- look into the cfa program
- read the wsj each day


I'm interested in investment management, but have no experience in the field. I'm currently reading "A Random Walk Down Wall Street." Are there any other must-reads?
avatar
naturallight
Current Student
Joined: 24 Aug 2005
Posts: 260
Own Kudos [?]: 7 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   05 Feb 2008, 12:00
Bdevil25 wrote:
I'm interested in investment management, but have no experience in the field. I'm currently reading "A Random Walk Down Wall Street." Are there any other must-reads?


ha, A Random Walk Down Wall Street is all about why you shouldn't invest in an actively managed fund. good stuff to know about though.

I liked these a lot

Value Investing with the Masters
by Kirk Kazanjian

Expectations Investing: Reading Stock Prices for Better Returns
by Alfred Rappaport


my overall favorite business book is

The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron
by Bethany McLean

not really about investing, but super compelling and you will learn a little bit about financial statements.
User avatar
vinviper
Manager
Manager
Joined: 25 Aug 2005
Posts: 120
Own Kudos [?]: 8 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   22 Feb 2008, 09:50
I took am a CFA w/ 5+ years experience and am now looking to get an MBA. I work in inst asset mgmt. All the top PMs have both. S0 I agree with Cal

Other good books
Stocks for the long run
When genious failed
Den of Theives
User avatar
vinviper
Manager
Manager
Joined: 25 Aug 2005
Posts: 120
Own Kudos [?]: 8 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   22 Feb 2008, 10:07
[quote="Bdevil25"][quote="naturallight"][quote="forcefeed"]
Do you have any tips on how to prepare for IM before heading to bschool?[/quote]

I think I wrote a big post on this last year, but here's the short version:

- read as many books on investing as you can
- build your own stock portfolio
- write up a long and a short stock pitch
- look into the cfa program
- read the wsj each day[/quote]

I'm interested in investment management, but have no experience in the field. I'm currently reading "A Random Walk Down Wall Street." Are there any other must-reads?[/quote]


And if I can add to this -- reading WSJ is the minimum. If you like Inst investing try to get P&I daily and/or Fundfire.
avatar
naturallight
Current Student
Joined: 24 Aug 2005
Posts: 260
Own Kudos [?]: 7 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   06 Mar 2008, 10:25
whee! I just accepted an internship as a high yield credit analyst for a big mutual fund. I'm pretty excited about it.
User avatar
djhouse81
Current Student
Joined: 30 May 2007
Posts: 485
Own Kudos [?]: 72 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   07 Mar 2008, 08:51
naturallight wrote:
whee! I just accepted an internship as a high yield credit analyst for a big mutual fund. I'm pretty excited about it.



Congrats! Given the interesting times in the credit markets, you'll have your work cut out for you. Is high yielding credit the area that you want to be in upon graduation or are you hopinh for another financial market?
avatar
naturallight
Current Student
Joined: 24 Aug 2005
Posts: 260
Own Kudos [?]: 7 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   09 Mar 2008, 08:22
djhouse81 wrote:
Congrats! Given the interesting times in the credit markets, you'll have your work cut out for you. Is high yielding credit the area that you want to be in upon graduation or are you hopinh for another financial market?


Thanks! I guess we'll see how it goes. I think it will be good for a summer internship because my past work has been in equity, and I'm looking forward to learning about how to invest in other areas. For our Investment Speaker Series class the other day, we had a guy from a big hedge fund come in to talk to us, and it was really quite phenomenal how much he knew about various markets--equity, all sorts of bonds, MBS and other asset backed securities, merger arb, commodities. I want to be that guy.
User avatar
forcefeed
Manager
Manager
Joined: 29 Dec 2006
Posts: 214
Own Kudos [?]: 22 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   13 Mar 2008, 19:21
naturallight wrote:
whee! I just accepted an internship as a high yield credit analyst for a big mutual fund. I'm pretty excited about it.


Congrats!!! I bet it feels like getting the first acceptance all over again.
User avatar
died4me
Senior Manager
Senior Manager
Joined: 03 Aug 2006
Posts: 415
Own Kudos [?]: 9 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   21 Mar 2008, 20:24
I recently accepted an internship (equity research) from an asset management firm. I am a career switcher with no financial background.

Here are things that you need to get and do well on an interview.
- tailor your resume
- read many good books
- invest/manage your portfolio
- involve with your school's investment management club
- prepare 3-4 good stock pitches
- BE PASSIONATE about the industry and the job that you are applying for.
- sign up CFA (the fact that you put your $$$ down to sign up the exam shows that you are somewhat committed)
- call call call. call your alumni call anyone!
- networking. oh did I just mention this right above?
User avatar
baer
Manager
Manager
Joined: 11 Jun 2006
Posts: 176
Own Kudos [?]: 56 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   31 Mar 2008, 10:27
Can anyone advise on a good resource for information on how to put together a stock pitch?
avatar
gmatclb
Director
Director
Joined: 09 Jan 2007
Posts: 707
Own Kudos [?]: 27 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   17 Apr 2008, 08:43
Congrats to dead4me and naturallight.

Did you guys get the interviews through your school or how did you get them?
avatar
naturallight
Current Student
Joined: 24 Aug 2005
Posts: 260
Own Kudos [?]: 7 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   29 Apr 2008, 20:43
gmatclb - Yeah, I got my position through on-campus recruiting. But there were a ton of postings that came through in Feb-Apr. The recruiting for this industry is less structured than for other industries.

baer - I'm going to put together a "how-to" guide on creating a stock pitch. I can send it to you when I'm done. This is a rough rough outline.

Finding the Investment
1. Screens (either MSN or Google, or Greenblatt's free screen, or a custom screen)
2. Other (news, a place you shop, etc)

Evaluating the Investment
1. Learning about the company (10k, 10q, earnings call transcripts, news)
2. Learning about the industry (S&P industry reports, competitors, 5 forces)
3. Financial analysis (ratios, accrual analysis, trends, dupont breakdown)
4. Valuation (DCF, comps, LBO)
5. Writing the pitch (brevity, clarity, interesting, persuasive)
User avatar
lepium
VP
VP
Joined: 24 Sep 2006
Posts: 1359
Own Kudos [?]: 208 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   30 Apr 2008, 22:30
cbreeze wrote:
I have a friend, a sell side analyst, is a CFA but does not think an MBA is necessary.


I can argue that he (she?) will need the MBA in a few years, when she has to manage a team, redesign a department or division, lead a turnaround effort, etc. The MBA will come in handy then. Experience can help but usually involves a longer learning process than does the MBA + experience combo.

L.
User avatar
baer
Manager
Manager
Joined: 11 Jun 2006
Posts: 176
Own Kudos [?]: 56 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   01 May 2008, 07:22
naturallight wrote:

baer - I'm going to put together a "how-to" guide on creating a stock pitch. I can send it to you when I'm done. This is a rough rough outline.


Thanks! Please do share. Since my original question, I've contacted a bunch of people in the industry and have gotten some valuble advice. Also, for those looking to put together a model, I'd recommend Training the Street's financial modelling seminar. I took it 2 weeks ago, and it was fantastic.
User avatar
baer
Manager
Manager
Joined: 11 Jun 2006
Posts: 176
Own Kudos [?]: 56 [0]
Given Kudos: 0
Send PM
Re: Investment Mgmt Internships [#permalink] New post   01 May 2008, 07:27
lepium wrote:
cbreeze wrote:
I have a friend, a sell side analyst, is a CFA but does not think an MBA is necessary.


I can argue that he (she?) will need the MBA in a few years, when she has to manage a team, redesign a department or division, lead a turnaround effort, etc. The MBA will come in handy then. Experience can help but usually involves a longer learning process than does the MBA + experience combo.

L.


+1. I was speaking to a guy who has a CFA and MS in finance and has been a PM at some big funds; he said on interviews he still gets asked "why no MBA?".
User avatar
mr_gondola
Intern
Intern
Joined: 02 Dec 2007
Posts: 12
Own Kudos [?]: 1 [0]
Given Kudos: 0
Location: South Korea
Concentration: Finance, IM
Schools:HBS, Wharton, Booth
 Q49  V37
GPA: 3.42
Send PM
Re: Investment Mgmt Internships [#permalink] New post   22 Aug 2008, 07:46
The way it was explained to me:

IB/ sell side recruits from B-school

Buy side recruits from sell side.

undergrad is a different ball game, but MBA with no finance experience is supposed to be tough road into buy side firms.
GMAT Club Bot
gmatclubot
Re: Investment Mgmt Internships [#permalink]
22 Aug 2008, 07:46
   1   2 

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions