Post: #51

I agree with you westcoast on everything you've written on this thread.

Post: #52

WHY do those employers let employees work 80-100 hours a week? People are much more productive with appropriate sleep and exercise I suppose.

Interesting reading: http://epicureandealmaker.blogspot.in/20...rules.html

Post: #53

(12-05-2015 05:26 AM)Lime Wrote:  WHY do those employers let employees work 80-100 hours a week? People are much more productive with appropriate sleep and exercise I suppose.

Interesting reading: http://epicureandealmaker.blogspot.in/20...rules.html

First:



Second:

Go back and read WestCoast's posts in this thread. Employers don't "let" employees do this to themselves. It is the culture in that particular profession, and concordantly with the high risk of death or fucking your brain up, there is a high payoff to be found.

Third:

Your own link basically indicates the basic Red Pill truth: in all service industries, investment banking and/or Wall Street being service industries, the clients who take up the majority of your time are without fail entitled shitheads demanding extraordinary service even if they're paying ordinary fees.

Post: #54

^

Thanks, but why so harsh on me kicking the thread? You don't think it is an interesting point to discuss about? Maybe there are new members with new viewpoints.

Post: #55

Meh I said what needed to be said 2ish years ago. There isn't really much left to be discussed in this article that hasn't been discussed already.

So far you haven't provided a new viewpoint Lime. Care to expand on what has been discussed already?

Post: #56

(08-22-2013 04:44 PM)WestCoast Wrote:  ^ does a real estate agent add value?

Why don't you vilify them. It's the same job. I am not going to get into a pissing match though.

If you work in M&A all you are doing is being the intermediary on buying and selling companies. This is no different than a real estate agent taking a cut when you buy a home.

Most people don't have he faintest idea of how the street works.

The crooks you guys are referring to are in EVERY industry, you basically vilify CEOs which is legit. Vilifying a guy selling companies is not legit.

More examples:
Entourage = same shit as a M&A banker
Neil's movie script if he hired a negotiator and they bumped it up by 20% how is that valueless?

It's not, people just have no idea what the industry does and couldn't tell you the difference between a registered direct, a pipe, a an Ipo or a bridge loan.

Exactly WC; I guess we should villify the people who go to garage sales, buy cheap goods and re-sell them for higher prices. They're evil. They're profiting from all of us! Ebay and Amazon sellers also do this; it's only useful to those selling and buying - liquidity is provided to those selling and liquidity, in the form of an asset, is provided to those buying. It also keeps goods from stagnating and doing nothing useful - this is why we're able to have great wealth and use in what we own.

What you're realizing is how many useful idiots are everywhere. Blinded and manipulated by their greed and envy, they're slowly becoming slaves to their own destruction. The people demonizing this group of "liquidity providers" is only interested in more power (politicians, economists, bureaucrats, lawyers) - the power to control everything and limit our freedom. They just know which emotions most of you are slaves to.

Post: #57

(12-05-2015 10:00 AM)SunW Wrote:  .

What you're realizing is how many useful idiots are everywhere. Blinded and manipulated by their greed and envy, they're slowly becoming slaves to their own destruction. The people demonizing this group of "liquidity providers" is only interested in more power (politicians, economists, bureaucrats, lawyers) - the power to control everything and limit our freedom. They just know which emotions most of you are slaves to.

There's more to it than that. Whereas the government was previously hooked on the massive campaign contributions that Wall Street can provide, they're also starting to realize that they can just get that money by seizing it.

Post: #58

I have no sympathy at all for these dumbfucks who want to work 50 or 60 hours a week, let alone the ones who work 80, 90, or more. They make life harder for everyone else.

Post: #59

^^^
Reminds me of the movie Office Space.

Lumberg, the boss, to Peter, his subordinate, on a Friday afternoon: "Peter, I'm gonna need you to come in Saturday AND Sunday. We're ... a little behind, and ... need to do some catching up. Okay? Greaaat. Thanks Peter." (Lumberg walks off before Peter can even react.)

Post: #60

(08-22-2013 07:33 PM)MikeCF Wrote:  The banks paid back TARP but TARP was only a slice of the bailouts.

The bailouts included, among other things, giving Goldman Sachs and other big banks access to the Fed's discount window program.

Banks borrowed money at 0.25% and then bought Treasuries at 3.5%.

That's 3% of free money.

Goldman Sachs never paid back the $13 billion that the Fed laundered through AIG and onto Goldman's balance sheet.

Also, by recognizing that some banks are Too Big Too Fail, the government has de facto admitted it will bail out banks. This means that banks can make even riskier bets because Uncle Sam is in essence co-signing Wall Street's loans.

There were a lot of shadow bailouts and Wall Street has never come near to repaying the bailouts and never will.

My bad that I missed this post. I don't begrudge traders for what they do, as I recognize the value. I agree with Mike's point here: the problem that I have with some of these Wall Street companies (some, not all) is that they stole taxpayer money.

In my analogy with a garage sale trader or ebay trader, they may fail, but they fail only and we don't all pay for their failures. This isn't what happened with the bailouts. Some of the Wall Street people failed and we all had to pay for their failures. I understand people's anger against some of these people, but I suspect it was a set up - the government knew it would anger most people and it would help set the stage for the government to seize everything.

In that light (a setup), everything that the TARP did at the time, makes perfect sense.

Post: #61

I don't know shit about banking, but I have a super-dumb question. In this thread, some have explained you can get away with frequent Starbucks trips during the 'dayshift.' Could someone reasonably escape to the gym for 1 or 1.5 hours during, say, lunch break? I could pull all my waking hours in one place as long as I get to work out. I couldn't sacrifice my gainz (health/pussy) for a job.

I only ask because if I got enough time to go to the gym everyday, plus my meals are taken care of? That means I'd get fucking huge. Then living in NYC with that salary? Run forum legend TrueSlyr's patented zero-date bang strategy - scare up hoes on tinder to come straight to your pad with pics of your baller-ass Manhattan view.

More seriously, if they really DO work these crazy hours, do they just sign off on pussy for 3 years?

Post: #62

(12-06-2015 08:02 AM)SunW Wrote:  In my analogy with a garage sale trader or ebay trader, they may fail, but they fail only and we don't all pay for their failures. This isn't what happened with the bailouts. Some of the Wall Street people failed and we all had to pay for their failures. I understand people's anger against some of these people, but I suspect it was a set up - the government knew it would anger most people and it would help set the stage for the government to seize everything.

In that light (a setup), everything that the TARP did at the time, makes perfect sense.

Don't blame "the government." Government employees/elected officials have no agency. Why would some random congressmen, treasury secretary, etc. connive to launch a long term scheme to increase the power of the government, when it will only come to fruition long after he is out of "power" and unable to benefit from it?

The government is the tail, and it does not wag the dog. The powerful private individuals outside the public purview are the ones who pull the strings. The government is their tool, and this is why they wish to increase its power. You will find these people in the banks, in the media, in tech, etc. It is they who use the government to seize the wealth from you and from me. It is certainly not "the government" that is conniving to seize wealth from them.

Post: #63

(12-05-2015 09:44 AM)The Beast1 Wrote:  Meh I said what needed to be said 2ish years ago. There isn't really much left to be discussed in this article that hasn't been discussed already.

So far you haven't provided a new viewpoint Lime. Care to expand on what has been discussed already?

What do these interns actually do to warrant such hours? I'm curious.

Post: #64

(12-06-2015 02:05 PM)Foolsgo1d Wrote:  

(12-05-2015 09:44 AM)The Beast1 Wrote:  Meh I said what needed to be said 2ish years ago. There isn't really much left to be discussed in this article that hasn't been discussed already.

So far you haven't provided a new viewpoint Lime. Care to expand on what has been discussed already?

What do these interns actually do to warrant such hours? I'm curious.

Whilst this culture is not as intense in Australia, lower level banker still pull crazy hours. I just started a summer internship at a boutique Investment Bank. I'd say around 40% of the day is actually productive work. Most of an intern's day is playing around with excel models and the powerpoint presentations. These undergo like 15 editions each day. They also have me building models and constructing industry analysis of potential acquisitions to pitch to prospective clients. The whole process is grossly inefficient with less than 5% of pitched work being converted to a project.

It's just a re-inforced culture that is so pervasive. Investment Banks command lucrative milestone and success fees for effectively being the modern day highway-man. To justify this they need to constantly show the client how much work they are doing for them by sending them convoluted packs of uanessacry information. Interns and Analysts have the pleasure of preparing this.

Post: #65

(12-06-2015 09:12 AM)Kamikaze Wrote:  I don't know shit about banking, but I have a super-dumb question. In this thread, some have explained you can get away with frequent Starbucks trips during the 'dayshift.' Could someone reasonably escape to the gym for 1 or 1.5 hours during, say, lunch break? I could pull all my waking hours in one place as long as I get to work out. I couldn't sacrifice my gainz (health/pussy) for a job.

I only ask because if I got enough time to go to the gym everyday, plus my meals are taken care of? That means I'd get fucking huge. Then living in NYC with that salary? Run forum legend TrueSlyr's patented zero-date bang strategy - scare up hoes on tinder to come straight to your pad with pics of your baller-ass Manhattan view.

More seriously, if they really DO work these crazy hours, do they just sign off on pussy for 3 years?

If you could, I'd find a way to do a flexible lunch hour. Disappear and work out between 10:45 and 11:45 (avoid the 12-1 amateur hour), eat your lunch while doing work afterwards. I just get up early and work out before work and show up at 9:30.

(12-08-2015 07:15 AM)African.horn Wrote:  

(12-06-2015 02:05 PM)Foolsgo1d Wrote:  

(12-05-2015 09:44 AM)The Beast1 Wrote:  Meh I said what needed to be said 2ish years ago. There isn't really much left to be discussed in this article that hasn't been discussed already.

So far you haven't provided a new viewpoint Lime. Care to expand on what has been discussed already?

What do these interns actually do to warrant such hours? I'm curious.

Whilst this culture is not as intense in Australia, lower level banker still pull crazy hours. I just started a summer internship at a boutique Investment Bank. I'd say around 40% of the day is actually productive work. Most of an intern's day is playing around with excel models and the powerpoint presentations. These undergo like 15 editions each day. They also have me building models and constructing industry analysis of potential acquisitions to pitch to prospective clients. The whole process is grossly inefficient with less than 5% of pitched work being converted to a project.

It's just a re-inforced culture that is so pervasive. Investment Banks command lucrative milestone and success fees for effectively being the modern day highway-man. To justify this they need to constantly show the client how much work they are doing for them by sending them convoluted packs of uanessacry information. Interns and Analysts have the pleasure of preparing this.

Ha! I figured that much. My post back on the first page of working smarter not harder stands true. The more I look into Wall Street and understand how the financial markets really work, the more I realize that 95% of it is bullshit jargon, busy work, and convoluted to make the laymen intimidated by what is going on when most of it is just BS paper pushing.

I knew a finance girl who was very very talented with Excel and blew some people away during her internship by automating what she described as 85% of the work. The other 15 was spent making power points which arguably can be time consuming. She proceeded to watch movies and bull$hit after that. As for powerpoints, she was a manic worker and got a lot done.

I also have another friend who works as a geologist and told me how yesterday he automated a ton of data in Excel using VB. It's moments like that that make me smile.

Most work in businesses can be automated unless it is a clearly creative process. The fact Wall Street refuses to do this means that industry is ripe for a downsizing.

Post: #66

(12-08-2015 07:34 AM)The Beast1 Wrote:  I also have another friend who works as a geologist and told me how yesterday he automated a ton of data in Excel using VB. It's moments like that that make me smile.

Most work in businesses can be automated unless it is a clearly creative process. The fact Wall Street refuses to do this means that industry is ripe for a downsizing.

So what sort of work needs to be automated exactly..? I feel like this could be a rewarding niche to target

Post: #67

I used to work this many hours. I have many friends who run construction companies that work this much. Friends that run tech companies that work this much. Friends that run businesses of all types that work this much, doctors, lawyers, engineers, etc. What did I give up in my 20's? Pussy and travel. I had one at home, and I did go on vacation 1-2x a year, so life wasn't all that bad. Who knows how this kid died, its a shame, but its a freak occurrence. I doubt anyone can become truly successful or financially independent without this type of work ethic. Do you want to work at Walmart in your 70's? Why should you even worry about it when you can just get a government check at age 55 for a few peanuts.

Kids if you want to avoid this, start saving money in your teens and retire early and you wont even need TRT.

Post: #68

(12-08-2015 07:44 AM)Architekt Wrote:  

(12-08-2015 07:34 AM)The Beast1 Wrote:  I also have another friend who works as a geologist and told me how yesterday he automated a ton of data in Excel using VB. It's moments like that that make me smile.

Most work in businesses can be automated unless it is a clearly creative process. The fact Wall Street refuses to do this means that industry is ripe for a downsizing.

So what sort of work needs to be automated exactly..? I feel like this could be a rewarding niche to target

She got promoted to other tasks quickly. I doubt they would want to automate it if it means keeping those billable hours up.

Post: #69

(12-08-2015 08:02 AM)The Beast1 Wrote:  

(12-08-2015 07:44 AM)Architekt Wrote:  

(12-08-2015 07:34 AM)The Beast1 Wrote:  I also have another friend who works as a geologist and told me how yesterday he automated a ton of data in Excel using VB. It's moments like that that make me smile.

Most work in businesses can be automated unless it is a clearly creative process. The fact Wall Street refuses to do this means that industry is ripe for a downsizing.

So what sort of work needs to be automated exactly..? I feel like this could be a rewarding niche to target

She got promoted to other tasks quickly. I doubt they would want to automate it if it means keeping those billable hours up.

True, but the analysts themselves will have no problem slacking off while a computer does all their work for them, I suspect