WSO Weekly Wrap-up

January 18, 2025



Hey WSO Monkey,

Just want to let you know we have a Financial Modeling & Valuation Bootcamp coming up on January 25-26. It's a 2-day intensive bootcamp that covers all the essentials and is led by an industry pro. It might be helpful if you're looking to level up your finance career. Seats are limited, so check it out soon if you're interested!

-Patrick

Top Discussions

  1. Secret & Lessons From 2 Yrs in Banking: My Advice - "Don’t make this your life. If you burn out redlining every day then you are missing the point. This is a 4 quarter game. You just lined up for the tip off. While you will never have work life balance, own the things that are crucial to you. Gym time on Saturdays. Eating out once a week. Movie night with your girlfriend or boyfriend. Join a sports league. Having an identity outside of work is one of the drivers that will improve your work product. Don’t abuse it though. If you are telling your team you are out every 4 days for a few hours, then they may hold that against you..."

  2. Q&A - Credit HF Analyst - "Happy new year. I want to give back as someone who has been in the industry 10+ years now and as someone that once benefited from the forum in my junior days. Would appreciate those asking questions refrain from asking about 1) anything that can be found easily thru search function and 2) anything too personal about me. Background: 2 years in RX IBD -> 5+ years in long only distressed PE-type credit -> Credit HF."

  3. What They Don't Teach You About Distressed Debt - “Actual frameworks for analyzing stressed credits, restructurings, and special situations. Practical case studies with the technical details your professors skip over, which help you understand leveraged finance that goes beyond classroom theory.”

Register Now: The Pitchbook Evolved

Ensure your pitchbooks win every time with Stifel, Leverest, and UpSlide.

UpSlide is hosting CIB experts from Stifel and Leverest to share their strategies and tips for deal teams to gain a competitive edge in 2025.

They’ll break down some of the biggest obstacles faced by pitching teams, as well as how to overcome them. Plus, they’ll share insights on:

  • Why pitchbooks are shrinking while deal competition is rising

  • What boutique teams can do to stay ahead of their bulge bracket counterparts

  • How to automate your work in PowerPoint and Excel to impress your MD

Save the date:
📆 January 30th
⌚ 10:30 am EST
⌛ 45 minutes

Top Discussions (contd.)

  1. What Happens to Useless VPs / Ds? - "Yes, VP/D should have enough reps to give good guidance and catch mistakes, but there should be no mistakes by the time it gets to them, since thats the associate’s job. Vp/d goals are likely to be focused on building client relationships to bring in future dollars rather than needing to understand some deep model issue. Theyre being assessed on how they present the outputs that associate below them is competent enough to produce without mistakes, rather than on some technical skill, so that’s where they focus..."

  2. The Grass Isn’t Always Greener: An Expensive Lesson - "Everyone in my cohort got promoted—except me. I left a secure, high-paying role for what I thought would be a step up. Instead, I’ve found myself in a relentless, soul-sucking environment surrounded by people with no lives outside of work. Sure, I’ve closed over $4 billion in deals this year—great for the resume—but I’ve realized I don’t love the work or the industry. This was an expensive mistake, I left a lot of money on the table and took a step back in my career - but it’s taught me a lot. To anyone thinking about making a leap because you think the grass is greener: be careful. Know what you’re chasing and why. Sometimes, the cost of learning that lesson is far higher than you ever expected."

  3. Macro RV: A Primer - "This post is a broad response to the question posted here: How is RV actually traded? In a word, macro RV rests at the intersection of art and science; of discretion and statistics..."

  4. Stories of What Happens to People When PE Deals Perform Poorly - "The reality in PE is results (real or fake) at the end of the day speak. No LP is doing enough work to uncover why a great deal was great or why a shitty deal sucked. there’s a very strong argument most of what you see in the industry is levered beta - PE is only better than HF insofar as the marks are private so there’s “less volatility” What PE and HF and the entire “alternatives” industry is really good at undeniably is transferring value from LPs to the GPs."

WSO Alpha: Latest Updates 📈

We uploaded the December brokerage report for those of you curious how we did.

Hot Jobs 💼

Controller - "This position is responsible for the preparation of financial statements, budgets, and forecasts; maintenance of internal controls and procedures; management of third-party audits and state tax returns; and supervision of accounting personnel..."

Senior Associate / Vice President - "We are seeking a Senior Associate / VP level professional who is actively engaged in the lower middle market with a proven track record of executing direct deals. The ideal candidate could come from a private equity firm, family office, investment bank, or independent sponsor..."

Project Finance Associate - "This is a career-level role, and we expect the Project Finance Associate to grow and find new ways to impact our organization, contributing to Zanskar’s broader financial and capital allocation strategy..." 

Investment Banking Analyst - “A boutique IB practice focused on MM M&A. Lean, mean, entrepreneurial team of highly motivated deal makers who all ‘punch above our weight’. While other investment banks have large teams working around the clock, we work smart in small teams, and achieve outstanding results for our clients and still get home in time to see our families. Industry generalists…“

Investment Analyst - "...invests in privately held companies across media and entertainment, including film and television, digital media, creator economy, video games, live experiences, sports, and related services and enabling technologies ..."

Director of M&A - "...formed to be the best long-term home for independent companies that provide unique data, content or information focused on small but important niches and are owned and operated by founders."

Sr Discretionary Researcher / Trader - Fully Remote - "We are a discretionary, event-driven proprietary trading firm and hedge fund specialized in the digital asset space."

Marketing Manager - West Coast, US - "The Firm is an early-stage venture capital firm with $300mn in assets under management and a deep commitment to supporting the next generation of groundbreaking technology..."

Research Associate (Equity Small Mid Cap) - New York, NY - "This position will support the Small/Mid-Cap Equity research team and initially be responsible for covering multiple sectors in support of current team members."

On Deck - Training 🎓

All in Eastern Standard Time

Stay Strong,
Patrick Curtis
CEO and Founder, WallStreetOasis.com

WSO Mobile App: iOS | Android

PS - We're also always looking to add resume reviewers and WSO Mentors to our team. Set your own pay (from $40/hr to up to $400/hr) to increase or decrease mentee flow. To submit an application, go here.

PPS - Think you have an interesting story? Want to share it with our podcast listeners? Hit reply and let me know!




* PE Interview Bootcamp includes lifetime access to the PE Interview Course
** FMV Bootcamp includes lifetime access to the Elite Modeling Package
*** IB Interview Bootcamp includes lifetime access to the IB Interview Course