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Management Consulting versus Investment Banking

Management Consulted

The cons of investment banking – the long hours, the repetitive and unengaging nature of the work, the lack of non-finance exit opportunities – mattered far more to me than a 6-figure salary. Cashflow or not, the extra money is substantial and a defining driver of why many people do investment banking. 2 LIFESTYLE.

Banking 272
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Chinese Banks Hemorrhaging Deposits, 1st Quarterly Drop Since 1999; Banks Offer iPhones, Even Cars for Large Deposits

MishTalk

Chinese banks have experienced an outflow of deposits for the quarter for first time since 1999. To compete for funds, Chinese banks offer anything from fresh vegetables for small deposits to a Mercedes A180 for deposits big enough and long enough. The effective yield on the Mercedes is approximately seven percent!

Banking 61
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Pettis on Strains in China's Banking System; Avoiding the Fall

MishTalk

Next year will be a very important year for China because possible strains in the banking system and the intensity with which the reformers present their case will give us a better sense both of how much debt capacity the country retains and of how well positioned Xi Jinping and his allies are to implement the needed reforms.

Banking 57
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Argentine Central Bank Chief Quits in Currency Dispute; Hyperinflation On the Way?

MishTalk

On Tuesday evening, Argentine President Cristina Fernández accused Juan Carlos Fábrega, head of Argentina’s central bank, of " provoking a devaluation of the peso ". In response Head of Argentine Central Bank Quits. There was a sharp sell-off in the benchmark Merval stock index after Mr Fábrega’s departure was announced.

Banking 55
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Lessons Learned from a German EMBA

Tom Spencer

In the fall of 2015, after spending two years in a small town in the Ruhr Valley starting to learn German (I will appreciate Mark Twain’s perspective on the sprache so much better going forward), I moved to Frankfurt to begin my Executive MBA at the Frankfurt School of Finance and Management. Germany is more interesting.

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$550 Billion Energy Junk Bond Bubble Busts; "Whac-A-Mole" Distortions in Multiple Markets

MishTalk

Since early 2010, energy producers have raised $550 billion of new bonds and loans as the Federal Reserve held borrowing costs near zero, according to Deutsche Bank AG. percent in June, according to Bank of America Merrill Lynch index data. CJES), postponed financings this month as sentiment soured. And this is a mania.”

Energy 73
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Ukraine Hikes Discount Rate from 6.5% to 9.5%, Overnight Rate to 14.5% to Halt Crash of Hryvnia

MishTalk

On Monday, the Ukraine central bank pulled out the bazooka with a massive set of rate hikes. Kiev’s central bank raised the benchmark discount rate from 6.5 Since the beginning of the year, the Hryvnia has fallen from 8.26 to the US dollar, to 13.16 to the US dollar, a decline of 37.2% per cent to 9.5 per cent to 14.5

Banking 52