New Job!
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From: Yorba Linda, CA
Originally Posted by Vik2000,Oct 23 2010, 04:52 PM
What's your main job magician?
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From: Behind You
Man, the competition within the investment banking field is so fierce. I feel like my CFA Level 3 candidate status isn't helping much, but instead it's making interviewers asking me harder questions because of it. I just attended this huge career fair at Boston (it's for bilingual students who speak both Eng and Japanese). I've been having interviews for Equities or FI research positions, but it's PITA. I guess trying to directly getting into such a prestigious field is nearly impossible.
Deutsche Bank interviewer asked me if I know what straddle is. I told him I can't remember what it is. He also asked me what swaption is. I basically told him it's a freaking option to swap. Seriously who the hell remembers these after the exam?!
UBS interviewer asked me how to create a synthetic forward. I couldn't remember that one either.
The only interview I did fine was with Nomura Securities. The guy interviewing me was also a CFA charter, so he was rather being kind to me. The question he asked was regarding exercising call/put options, and I was able to answer it correctly.
Anyway, sorry for going off-topic. Just felt like sharing how I'm feeling now. I'm so bored waiting at Boston Airport for my flight back to Vancouver. Still got like 8 hours to go woot. FML.
If you know any entry level position, let me know
Btw, I'll also for sure be reading your articles.
Deutsche Bank interviewer asked me if I know what straddle is. I told him I can't remember what it is. He also asked me what swaption is. I basically told him it's a freaking option to swap. Seriously who the hell remembers these after the exam?!
UBS interviewer asked me how to create a synthetic forward. I couldn't remember that one either.
The only interview I did fine was with Nomura Securities. The guy interviewing me was also a CFA charter, so he was rather being kind to me. The question he asked was regarding exercising call/put options, and I was able to answer it correctly.
Anyway, sorry for going off-topic. Just felt like sharing how I'm feeling now. I'm so bored waiting at Boston Airport for my flight back to Vancouver. Still got like 8 hours to go woot. FML.
If you know any entry level position, let me know
Btw, I'll also for sure be reading your articles.
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From: Yorba Linda, CA
Originally Posted by Vik2000,Oct 23 2010, 06:20 PM
Deutsche Bank interviewer asked me if I know what straddle is. I told him I can't remember what it is. He also asked me what swaption is. I basically told him it's a freaking option to swap. Seriously who the hell remembers these after the exam?!
A straddle, by the way, is an option strategy in which you buy a put and a call with the same strike price, usually near the current market price. You make money when the price of the underlying moves significantly, or when the implied volatility of the underlying increases (i.e., the option premium - the time value of the option - increases). You lose money if option premia do not increase significantly and the price of the underlying doesn't change much.
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From: Behind You
I haven't touched any books since June after I finished my CFA L2 exam. It's been about 5 months already. I mean if you can still remember the definitions to these terms after not touching it for months, then good for you, but I highly doubt you can. Plus don't forget when you are sitting in front of an interviewer from top investment bank, you'll be nervous and sometimes your brain won't function the way you like it to.
