Teach Me and I'll Teach You, Real Life Investment Banker

ICX, REQ, XLM, XRP, POWR.

ICX is the inside man on Korean government and business. REQ, XLM, XRP are payment solutions, and big ones. REQ is 7% owned by Y-Combinator (Coinbase was Y-Combinator), XLM is attached to IBM, and XRP is the real deal modernizing banking transfers.

Yes you should always have more bitcoin ether and ripple. I as a heavily credentialed stranger on the internet am beyond bullish on ETH.

Yc has very agressive business tactics.

ICX is good if you buy soon (under $10ish). Monero is a really good for a long term hold, it's "dark web" market is only growing by the day. Buy more ETH if you can.

mfw banking tards think they can make money because they got "investment" in their titles kek

If you are jelly don't be, 99% of this board will blow their account. The 1% that times it perfectly will make bank for the 99%. There isn't liquidity for everyone to exit at inflated prices.

If you aren't busy sucking your MD's cock maybe you can study the art of pump and dumps and compare it to cryptos.

why no enigma friend?

Because I've only done my research on a dozen coins, I want to be thorough and haven't DMOR on enigma.

I really want to start dumping money into ICOs.

You should really consider having an equal amount of BTC and BCH so you are covered in case of a switch of the crown. It is not as unlikely as people claim and you could even say the process is already going on

> an equal amount of BTC and BCH
so zero

Fellow NYC wagecuck here. Work at a BB DCM desk. this is what your portfolio should look like at the beginning of 2018, with 1 rebalance in June.

ETH 20%
XLM 15%
LINK 20%
XMR 20%
XRP 20%
MANA

Wake up around 6:30. Check email, read the headlines, see if any firedrills have popped up overnight.

Get on 6 train, head into the office by 7:30. Have a morning staff meeting where we go over any developments in our business (deals, etc.), anything going on in our sector (company reporting earnings, competitor scooping up deals, big macro news).

By 8:00, get back to work on whatever project I've been staffed on. Could be building out a pitchdeck (powerpoint presentation that the senior guys use to convince clients to do business with us), or if we have a deal in the works, getting to work on a model or the CIM. Usually have a few firedrill projects dumped in my lap ("xyz bank that is also on the deal needs this information now!! why didn't you guys send it earlier?!"). Do this for the next couple hours but its mainly deadtime where I read the local bugman news like barstool sports so I can talk to coworkers about it. Office politics is the number one key to success.

Grab a lunch at 12:00. Back in the office at 12:15, everyone eats at their desk.

Afternoon is usually more bullshit work, might have a few conference calls to get on where us analysts take notes and have data ready incase a senior guy needs to reference it.

By 5:00 PM, the senior guys start leaving. Order dinner off seamless at 6:30, eat and then us junior guys hit the gym around 7:30. Back in office by 8:45, and this is when the real work begins (because you aren't being interrupted with stupid firedrills). Could be tying up the model and getting it to an associate for review, could be me checking a more junior guys work, could be cranking on those 100 slide pitch decks. This goes until midnight or so. Then a junior guy will print off the final draft of the work and take a car up to the MDs apartment and drop it off with the doorman, who will give it to the MD on his way into the office in the morning. He will review it, usually tear the entire thing up, and we start again tomorrow.

TLDR of my prior response is that the daytime, 8:00-6:00 is mainly meetings, trying to get work done, dealing with shit that older guys dump on you and avoiding their attention.

Nighttime is when you actually make progress on the longer-term projects.

What do you want to do? If I were you and you have average grades, don't waste time on finance - ultracompetitive and a total jewclub. If you are semi-social, try to get a job in enterprise tech sales. HUGE money to be made and much better worklife balance.

jesus christ how horrifying

>Link
>No ICX or TRX

never gonna make it

I cover industrials, so don't have a huge inside scoop on EV/renewables. But consensus on the street is that TSLA/Elon is a total fraud. Don't know anyone who owns the stock in their personal accounts.

That being said, while we don't like Elon, EV is certainly going to become the norm over next ten years. Just don't know if there is a good way to play the theme in the public markets.

I have been seeing these types of responses lately so I will inquire...

Why ICX and TRX over LINK? I think they have extremely similar range of outcomes

Ayy my fellow NYC wagecucks. I'm a consultant at a B4 so I know the struggles.

Agree with this portfolio, though I think OMG is gonna blow up in 2018 and would consider that at least as an honorable mention.

...

Thanks man. I really need to buy more ETH, I think it will be hugely disruptive for IB over the next fifteen years.

What were bonuses like at your bank? My all in comp is up 20% y/y, but thats to be expected as analyst. VPs/Directors were up ~10%, so actually pretty good compared to enviroment last couple of years.

I know nothing about real world finance. Where’s a good place to start learning? Required texts?

Re Crypto - Here are the main 5 coins to HODL for the next few years as we transition to a crypto economy:
>Omisego
>Populous
>Veritaseum
>SALT
>Litecoin

Thins like salt, Populous and Omisego are actual business ideas built on top of the ethereum blockchain. For instance, PPT is invoice factoring, OMG is a next generation exchange and SALT is crypto lending.

85 base I anticipate around 60 bonus . I was working in the asset management branch of my bank and I finally broke into the IB 3 months ago (as a first year analyst even tho I was 2nd year in AM). the 60 is the value for the full year though, so it wil lbe pro-rated

I'm not joking. I would rather work at KFC. That sounds like pure hell.

65-85 hours a week... start living dude. Fuck

Check out Raiblocks. It's been shilled a lot the past couple days but that's not a reason not to look into it. It's free, instant, decentralized.

My question for you: did you have a strong network/connections to land your job? I'm a finance student with good grades, I know how to have a conversation with people. But I don't know a single person who works at an investment bank. Am I fucked? Keep it real.

>I would rather work at KFC
>65-85 hours a week
how many hours do the managers work at kfc?
i know chefs in restaurants work those hours and get paid fuck all

Depends on what you want to learn about. In terms of actual investing for yourself in equities, read Intelligent Investor. Its a long ass read and is dense but will cover everything you need to know, for life.

If you want to learn about Wall Street, read Barbarians at the Gate. Gives the inside scoop on the $24 billion LBO of RJR Nabisco.

>do all this
>get surpassed by a NEET who wakes up at 1PM sitting in his bedroom who initially put $500 into a shitcoin 6 months ago

Just leave. Your work I mean, you're literally taxing your brain for Mr. Shekleberg. Old world finance as you say, is pretty much nothing to what's going to happen with crypto.

I'm not working at KFC btw kek. But here in my country KFC cucks start at 7.30 and fuck off at 6.

I wouldn't sleep on it. MIT team making secret contacts available and applying them to financial investing. Their recent growth looks good, and they're unlikely to go anywhere in 2018 other than up

Holy fuck. No amount of money in the world could ever be worth having to suffer through this. What the fuck, man. How do normies do it?

Nice man, that's really good shit. Sounds about right. Awesome job breaking in, put your head down and get through the next couple of years - it will be worth it, but its going to suck. No way to sugarcoat it. And never underestimate the power of office politics - know which MDs are the killers and get them their work quickest, with zero errors, at the expense of the lesser MDs. It will pay dividends.

Don't lose hope, if finance is what you want to do. Apply for positions in equity research and sales/trading in addition to banking. If you aren't from a top 35 school (I wasn't), target boutique banks. Send them a four-five sentence email (literally to their "[email protected]" address if that's all you can find).

"To Whom It May Concern,

My name is XXX, and I am currently junior/senior at xyz college studying XYZ. I recently came across your firm and was impressed with XYZ deal you've done/XYZ award you have received (personalize this to the specific firm). I believe I could contribute to your firm given my XYZ internship/XYZ background from XYZ club at school. I'd love the opportunity to discuss any positions you may have available, at your earliest convenience. Please see attached for my resume.

Very Respectfully,
XYZ"

Polish that up and blast that out to as many banks as you can find. I'm not shitting you, I came from a podunk school with average grades but applied to probably 250 banks/hedge funds that way and it worked out.

Also look into enterprise sofware sales (Salesforce.com, Oracle, etc.). Big money to be made. I have 24 year old friends who do that and make 6 figures.

You better get paid a lot of fucking money, like well over 100k a year. But you "juniors" probably push 50k a year until your 3rd year or some bullshit.

Totally understand that viewpoint. Just had a chip on my shoulder coming from a shit background and a shit school and wanted to prove to other people, and mainly to myself, that I could get in and do the same job that Harvard/Yale fucks do, do it better, and get paid well doing it. But its definitely not for everyone.

First year analysts (lowest on totem pole) make around $150k
Second year makes around $180
Third year makes around $210

Teacb me how to not pay crypto taxes

fuck of gramps
just all in hold xml and kys
no one needs investment niggers

Alright thanks man. Good to know that there are people out there who broke in without coming from Ivies or had insane connections. It still sounds like an uphill battle but at least it's not hopeless.

What type of data do you look at? Seems like they would have algorythms doing that shit by now.

Also a wall street slave here. Its coming, my cousins developing the software for the vampire squid atm

OP, buy LINK for a high risk great investment with a non-trivial chance to go anywhere from 50-200x or better. It aims to provide a decentralized ‘oracle’ solution, which would enable smart contracts to interact with off-chain data in a trustless way.

Buy XRB as someone else said, for a relatively great chance to go 5-20x. They have novel tech and great product and vision that is already born out to a degree.

Buy ETH, and buy some BTC. Stay away from LTC.

My questions for you are:

How fudged are the official inflation numbers?

Would you rather be in an index fund right now or in cash? (Assuming those are your only 2 options)

Also I’ll be applying to b school next year. Any thoughts on consulting vs. investment banking?

This isn't normal, this is unsustainable Japanese-tier insanity. Most normie financial jobs office jobs involve like 2 hours of actual work and 6 hours of dicking around on the internet five days a week.I don't know anyone that sits at a desk and spends the majority of the time actually working except for maybe sales. Its all soulless, brainless yes-man bullshit that will turn you into a shell of a human being. These are the guys their wives get bored of and cheat on because they don't have an existence outside of their job. All they can do it talk about work, dress like they're at work and only care about their social status and hierarchy at work.

Yeah, being in the medical field or something that requires actual physical labor isn't as comfy as a nice white-collar job, but they aren't as soul draining or feel so pointless. My jobs hard as an ICU nurse, I am on my feet 7 hours of a 12 hour shift and I will have periods where I am breaking a sweat pushing and pulling obese super poopers, bent into weird positions, hands covered in shit, or performing CPR on a lost cause for over 5 minutes, but at no point do I ever think "Man, wish I was doing 80 hours a week making useless PowerPoints, researching bars and lines, making up bullshit to talk to bugmen about so they don't ostracize me and making sure Saul Shekelsteins balls are perfectly shined before the big jewbank meeting tomorrow involving a mass of funds I'll see less than 1% of."

Eventually automation will make us all redundant. I wonder how our masters are preparing for a post work world.

Transportation PhD here. TSLA is fucked. The real car companies are getting up to speed with EV tech. They've been moving slowly because they want to do things right and don't want to risk their badge selling crap. TSLA's days are numbered.

Just buy the coins that get shilled all the time that aren't obvious pajeet coins or bots. hold like half your portfolio in safe bets like bitcoin, ripple, ethereum, monero, maybe a quarter in safe-ish bets like NEO, and a quarter in potential moonshots like ICX, LINK, REQ, ZRX etc.

>85 hours a week
how much do you get paid for that? I get like 70k a year for 40 hrs/week (of which I actually work maybe 10, the rest I just spend browsing Veeky Forums)

I've studied some of Anton's stuff and he seems to make a pretty solid case that IB is not where its at anymore. See his youtube video "investment banks destroyed" where he really lay out the argument destroying the myth that banks is the place where you want to be and that banks where where the place to be was years ago, but nowadays the real talent has moved from IB to hedge funds and the people stuck in banks are the dead-weight that couldnt make it into a hedgefund and banks suck because you work and work and work and barely make anything from all that work and that seems to match exactly whats been said in this thread. Not sure if Anton is legit or not but hes allegedly former GS alumn. Anyways speaking of him he teaches a lot about doing the analysis to arrive at a view and generate ideas and weigh them out in in excel and maybe you could carry that idea from IB to apply it to crypto, I've seen before theres an user that has been posting with an excel with a list if ideas and views on different coins.
Which brings me back around to something I've been wondering about is starting my own hedge fund. How to do this? How to find good service providers(lawyers, etc) that wont try to sell me wrong stuff I dont need or want?
Would it be better for me to try to startup outside of the nazis of SEC and form a structure in another country like Malta? Would I have to move outside the us to do this? one big concern about this is would I might make it too hard to get investment from some family offices or seeders?

Assuming you hold these for a year or more and not price check every 5 mins.

XMR: you'll need this for when you want to cash out and ski the tax man. Otherwise hold btc or both.
EOS: Chinese ethereum. Most successful I CO I history. 2018 is its year when it goes live. Good partnerships already lined up
ENG: the private Ethereum. Essentally monero+ethereum. Focus on Decentralized privacy. Has a woring app based on Enigma protocol. MIT backed with a good developer team. 2018 is also it's year.
XRP: fastest, cheapest and best coin for intra exchange purposes. The best utility token right now. Also backed by numerous banks. Federal Reserved tested. American Express among others is using XRP.

I made $210k this year. Not doing this forever though.

how many years out of college?

Nice LARP. As if any NYC investment bankerbro would even know Veeky Forums exists much less shitpost here when could be out enjoying hookers and blow

Take

>xtp

Huh

presumably he means XRP?

XRP* not XTP

>long term HODLs
More XRP, buy some XMR too.

>what's the word on the street regarding the most likely source
>timing of the next recession?

theguardian.com/business/2017/dec/03/financial-markets-overheating-financial-crisis-bis

Check out BIS's shit and other sources.

then go re-qualify to be a trader, you can even easily afford to take a break now
not that being a trader is any easier or less stressful but you can make a huge bank now on this bubble

also most biz is a joke and too lazy to learn the basics of TA and watch the markets, so you wont learn anything here

Btw, if you have spare $, buy gold.

Thanks for the reccs user. So as a qualifier, I am an investment banker - primarily, we advise people on buying/selling entire companies, or help companies raise capital in the equity or debt capital markets. I am not an economist.

That being said, I don't think official inflation numbers are intentionally "fudged" per se, but it is right to be skeptical of them. A few different reasons why. First, let's look at it this way. An organization is trying to measure the rise in prices of an entire basket of goods throughout the entire economy. That is an incredibly hard job to do accurately given the short-time span they have to turn the data around. Secondly, that organization is a government organization, and we all know how incompetent the government is. Thirdly, inflation might not be the best gauge anymore, because technology is deflationary - for example, the storage within an iPhone right now would cost over $1 million in 1990. Now, it probably costs apple $40.

Tough - I'd say prices are elevated right now, but if you can invest in a boring dividend fund I'd do it. If the option is just the SPY, thats a tougher decision to make.

Depends on what your ultimate career goals are. If you want to do banking long term, do banking. If you want to do consulting OR something else (and you don't know what is it yet) long term, do consulting. You will get broader exposure outside of just finance and that will be valuable if you want to do something else after a few years.

hey senpai.
my portfolio looks something like this:
dash: I was an early buyer, when it was less than $12. I keep most of my porfolio in dash because of tax reasons and because it is stable (but rising).
icx/icon: didn't dyor on this one, but it was shilled and I checked the charts and it wasn't recently pumped (although had already multiplied some times from ICO). bought in around $2, I'm planning on leaving it there for some time. it's the "Korean eth". not sure how true that is, but it has been pumped real good these past days.
phore: it's a pivx fork. it incentivices hodling through masternodes and has a low market cap. bought in low and has been steadily rising. I checked the discord and it had a very good community despite being small, so I bought.
ark: was shilled as fuck. it did me well. bought at $4, like 28k, sold half at $6. it has staking, which increases hodling incentive.
Wabi: an actual working product, unlike a lot of coins. hasn't done me that well. I expect it to rise a lot soon.
chainlink: this is super shilled here. it has done me well desu. the supply is mostly held by a very small number of wallets, which probably means low circulating supply. a lot of people believe very deeply in this coin. I think it's worth it, if only for the memes.
xmr/monero: the only truly private coin
blocknet and wave: decentralized crypto exchanges.
if I were to recommend some of these coins, I would say dash for stability and monero cause it's private.

tfw actually owned that stock pre-merger
House of Nomura is another good one

Currently work for the senate budget committee. Looking for advice shifting over to what you’re doing. Have a throwaway email I could reach you @?

Well like you said I work at a bank not a hedge fund, so not qualified to answer your question.

I think over 10 years, guy at bank will end up roughly the same as guy at hedge fund, assuming HF guy isn't the next David Tepper. Also, pretty much everyone's career starts out at bank for first two or three years, then they go private equity or HF, OR stay at bank long-term. The key difference is personality. At the end of the day, investment banking is a people business. You are a specialized, technical salesman at the end of the day. HF is for the real big brain nibbas.

While I think the equity markets are a touch overheated right now, the actual economy (not the (((financial economy)))) is doing well right now. 2008? No. Housing is actually in middle innings and still has a few more years of runway ahead of it for sure. Biggest area of concern is auto, but that has no where near the knock-on effects for rest of the economy that housing did. I think people are expecting a correction (-5%) in 2018, but I would be buying the dip. Only thing I could see slowing is consumer confidence if some retarded liberal shit happens with Mueller vs Trump. If we get infrastructure passed in 1H18, economy is going to moon.

What about average grades but a board member as a godfather, fortune 500 and 100.

Throwaway212 (at) tutanota . com

>so not qualified to answer your question.
that makes me sad
>I think over 10 years, guy at bank will end up roughly the same as guy at hedge fund
check out the 5th video he really goes into the opportunity costs breakdown.
but then on the other hand ultimately he is trying to sell his wares.
he did say going to a bank for a couple years with the intention of just learning the infrastructure is a valid idea before you go over to a hedge fund just as long as you have a plan and know what your plan is.
>investment banking is a people business. You are a .. salesman
this is what I've been thinking for awhile. I couldnt do that at all I'm not good at sales and I probably couldnt get good at in no matter how much I tried.

You should be good then, schmooze with him and ask him to get you an internship, he certainly has the connections or knows people who have the connections.

Here's my picks, you should read a bit into them:

SUB: Basically fixing the internet's censorship problem. It'll probably 10x by EOY 2018.

CND: AI Bot that makes picks for you. Essentially the same thing that will put you out of work on Wall Street, but for crypto.

HST: Democracy bullshit. Normies will love it when they think they can finally have non-corrupt election... LOL. Should make some solid $$$ as shithouses like the United Nations and US gov adopt it.

XLM: IBM is balls deep in this and it's actively being chosen over ETH. This is a long-term HODL.

>, I own 1 BTC, ~4 ETH, ~2 LTC and $300 worth of XRP.
You already 'made it', most people here have under 1k.

leave before you loose it and keep your 'real' job

The vast majority of the millionaires on here got in years ago, most of us are NEETs or college students trying to make meager money we should never in any universe have. Any other millionaires on here are blockfolio larpers.

I have one question, why are finance/actuary/investment majors in college so fucking gay and annoying? They're massive LARPers themselves and never shut the fuck up about some new investment or project or interview or whatever. Are the people on Wall Street annoying strivers as well?

XMR , XLM , XLB

oh god if that's what you think wall street actually is irl than you watch WAY too many movies

Ark.

here are some of it's features
>Dankest and best memes of any coin around
>Most generous userbase (especially grandburger)
>Kim Possible Poster Girl
>Still under $10

Do most people stay with this long term? How do you advance?

are you a quant? would you say most quants aren't very creative people but have excellent(obvious) spatial and quantitative abilities?

$210 a year after three years work?

Does seem like much. I mean I was earning $7000 a year in neetbux.

How do you survive on $210?

That gives me hope user. I went to law school at a school that was tier 2 when I applied and drop to right under tier 3 when I got there.

I don’t have as many connections as I should have and my first year really destroyed my grades for the next three years. And I just failed the bar my first time. I’ve had a horrible 3.5 years and felt like such a fuck up.

Glad to know that average people have a shot. I hope you get some ease at work soon user.

Sorry for the blog post everyone.

how do you work 80hours a week and have so little savings?

jesus christ america is fucked

Yes, they are even worse.

At investment banks, you move up the ladder from analyst->associate->vice president->director->managing director.

Along the way you transition from being an excel/powerpoint monkey towards basically a networker/salesguy trying to land deals, using those quantiative skills you developed as an analyst/associate.

What did you major in in college?

Dragonchain. If you look at the marketcap compared to similar companies, it's obvious it will be worth 10x the value within a year.

the poor guy lives in NYC, the cost of living is retarded there

Neat. Kinda sucks that Musk isn't going to be able to actually disrupt the car industry, but this was inevitable I guess

im a neet with an engineering degree and i still keep missing the moon missions... perhaps soon i suppose.

stay a neet t b h, you'll miss everything once you start working

t. same position as you but got a job last month. 5 am starts are fucking shit