Numi, why did you quit PE? Isn’t PE suppose to be a prime destination a lot of ppl wnat ot get to? the guys I spoke to in PE are pulling in enough cash to get a date with Kim K.
There is also a good chapter about conducting management team interviews in a book called “Best Practices for Equity Research Analysts” by James Valentine, which I recommend.
Numi, why did you quit PE? Isn’t PE suppose to be a prime destination a lot of ppl wnat ot get to? the guys I spoke to in PE are pulling in enough cash to get a date with Kim K.
Numi is swinging a bigger dick than I am.
Haha, you guys are too kind. Yeah, I spent a couple years in private equity / leveraged buyouts before ultimately realizing that I enjoyed public markets investing more than doing deals. I just felt a lot more in touch with everyday happenings in the world and also appreciated the dynamism and psychological elements of the public markets, and it was this combination of factors that sent me back to the drawing board to figure out what I really wanted to do. In private equity, you work with a lot of intelligent people with good business acumen, not only with respect to doing deals but also with regard to growing companies after you’ve bought them. However, there is also a rather lengthy and challenging process of getting a deal done, and some people seemed to enjoy this process more than I did - I was really more interested in focusing on investment for investment’s sake.
So, in 2010, I decided to go to business school. I know a lot of people in finance that don’t have their MBA’s, but I had been thinking about business school as early as 2006 and it was an important life goal for me and I found the education and experiences to be tremendously valuable. In 2011, I did my internship at a multi-strategy hedge fund last summer. This helped me realize that I want to continue working in investment management / hedge funds. I got my MBA several weeks ago, and now I’m back in New York interviewing with various buy-side firms in hopes of finding the right opportunity and culture fit. (I’m open to potential introductions!)
That’s pretty much what I’ve been up to since I went on hiatus from this forum almost a year ago. Also, regarding your point about people in private equity reeling in some good coin, I can say it’s a good job to have but most people aren’t actually “killing it” until you make principal at most buyout shops, with the exception of the mega-shops such as TPG, Blackstone, KKR, and the like, where you’re easily getting high-six figures all-in as a vice president out of business school. Unfortunately, as a pre-MBA private equity associate, that also meant I wasn’t able to score a date with Kim Kardashian, but I did see her walking around during a time-out at a Mavericks game once, and she is really hot.
please elaborate a bit more on the Kim K viewing…..how did the crowd react? did you feel nervous? envious? was she still with that guy she broke up with?
She was with Miles Austin that night so I presume they were still dating. I think the crowd around me was pretty starstruck as they were sort of muttering things about her, and nobody wanted to be overt, but I overheard them and that’s how I noticed. As for my own reaction, I guess you could say I was “delighted.”
Numi, you always struck me as more of a public markets guy, though at the time you went for PE, you said you were more interested in “transactions oriented work” and putting deals together. I never quite got it, since it didn’t seem to fit with the rest of your personality, and figured that the allure of PE paychecks was driving that (not a criticism, just an observation).
Your public equities persona seems much more consistent with the way your mind works. The transaction is much simpler in the public equities world, and that leaves more time for thinking about the business and the investment thesis, which always struck me as your forte.
You want a quote? Haven’t I written enough already???
Numi, you always struck me as more of a public markets guy, though at the time you went for PE, you said you were more interested in “transactions oriented work” and putting deals together. I never quite got it, since it didn’t seem to fit with the rest of your personality, and figured that the allure of PE paychecks was driving that (not a criticism, just an observation).
Your public equities persona seems much more consistent with the way your mind works. The transaction is much simpler in the public equities world, and that leaves more time for thinking about the business and the investment thesis, which always struck me as your forte.
bchadwick, thanks for your thoughts. I was wondering what you thought specfically made me have more of a “public markets mentality”? I have some ideas and certainly the three years I’d spent in equity research influenced the way I thought about investing at least in part, but when I left research I did feel pretty burnt out and wanted to try something new. In particular, private equity satisfied my curiousity to both work on the buy side and also see the trnasactional side of things. However, it wasn’t until I had been in PE for a couple of years that I realized it wasn’t for me (when argably, maybe I could have known sooner). In an effort to better understand my own strengths and weaknesses, I’d appreciate hearing your candid feedback, not to mention that people frequently ask me why I left PE during interviews.
What’s been new with you these days? Any exciting developments for you over the last year? Have you come across any good books or websites that you’ve recently found to be influential in the way you think about investing?
Studying With
Numi is swinging a bigger dick than I am.
Nice, just bought this book.
I like that book. Very useful stuff in it, the time management stuff too.
You want a quote? Haven’t I written enough already???
Haha, you guys are too kind. Yeah, I spent a couple years in private equity / leveraged buyouts before ultimately realizing that I enjoyed public markets investing more than doing deals. I just felt a lot more in touch with everyday happenings in the world and also appreciated the dynamism and psychological elements of the public markets, and it was this combination of factors that sent me back to the drawing board to figure out what I really wanted to do. In private equity, you work with a lot of intelligent people with good business acumen, not only with respect to doing deals but also with regard to growing companies after you’ve bought them. However, there is also a rather lengthy and challenging process of getting a deal done, and some people seemed to enjoy this process more than I did - I was really more interested in focusing on investment for investment’s sake.
So, in 2010, I decided to go to business school. I know a lot of people in finance that don’t have their MBA’s, but I had been thinking about business school as early as 2006 and it was an important life goal for me and I found the education and experiences to be tremendously valuable. In 2011, I did my internship at a multi-strategy hedge fund last summer. This helped me realize that I want to continue working in investment management / hedge funds. I got my MBA several weeks ago, and now I’m back in New York interviewing with various buy-side firms in hopes of finding the right opportunity and culture fit. (I’m open to potential introductions!)
That’s pretty much what I’ve been up to since I went on hiatus from this forum almost a year ago. Also, regarding your point about people in private equity reeling in some good coin, I can say it’s a good job to have but most people aren’t actually “killing it” until you make principal at most buyout shops, with the exception of the mega-shops such as TPG, Blackstone, KKR, and the like, where you’re easily getting high-six figures all-in as a vice president out of business school. Unfortunately, as a pre-MBA private equity associate, that also meant I wasn’t able to score a date with Kim Kardashian, but I did see her walking around during a time-out at a Mavericks game once, and she is really hot.
Career Coach -- www.linkedin.com/in/numicareerconsulting
How to Break Into Equity Research -- www.mergersandinquisitions.com/equity-research-recruiting
please elaborate a bit more on the Kim K viewing…..how did the crowd react? did you feel nervous? envious? was she still with that guy she broke up with?
She was with Miles Austin that night so I presume they were still dating. I think the crowd around me was pretty starstruck as they were sort of muttering things about her, and nobody wanted to be overt, but I overheard them and that’s how I noticed. As for my own reaction, I guess you could say I was “delighted.”
Career Coach -- www.linkedin.com/in/numicareerconsulting
How to Break Into Equity Research -- www.mergersandinquisitions.com/equity-research-recruiting
Numi, you always struck me as more of a public markets guy, though at the time you went for PE, you said you were more interested in “transactions oriented work” and putting deals together. I never quite got it, since it didn’t seem to fit with the rest of your personality, and figured that the allure of PE paychecks was driving that (not a criticism, just an observation).
Your public equities persona seems much more consistent with the way your mind works. The transaction is much simpler in the public equities world, and that leaves more time for thinking about the business and the investment thesis, which always struck me as your forte.
You want a quote? Haven’t I written enough already???
i’m doing some research on Austin and Kim right now…..will let you know if i get any insights….
bchadwick, thanks for your thoughts. I was wondering what you thought specfically made me have more of a “public markets mentality”? I have some ideas and certainly the three years I’d spent in equity research influenced the way I thought about investing at least in part, but when I left research I did feel pretty burnt out and wanted to try something new. In particular, private equity satisfied my curiousity to both work on the buy side and also see the trnasactional side of things. However, it wasn’t until I had been in PE for a couple of years that I realized it wasn’t for me (when argably, maybe I could have known sooner). In an effort to better understand my own strengths and weaknesses, I’d appreciate hearing your candid feedback, not to mention that people frequently ask me why I left PE during interviews.
What’s been new with you these days? Any exciting developments for you over the last year? Have you come across any good books or websites that you’ve recently found to be influential in the way you think about investing?
Career Coach -- www.linkedin.com/in/numicareerconsulting
How to Break Into Equity Research -- www.mergersandinquisitions.com/equity-research-recruiting
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