Past Midway Ramblings on Business & Life

TagInvestment Banking

Inflation and Where I Think It’s Going

I bought a 50 lbs. bag of rice at Sam’s six months ago for $20. I know, that’s a lot of rice. But it was cheap! This week, I was shopping at Sam’s again and saw the same rice product, priced at $26 per bag. That’s 30% inflation over 6 months! How does this square with the reported 12-month Consumer Price Index inflation rate of 6.0% (9.5% for food)? See chart below. I discussed this, in part, in...

Gold. Lots of Gold.

The U.S. Treasury (plus the Fed) holds a lot of gold. I was curious about this, so I looked into it… so you don’t have to. How Much is a Lot? The U.S. Treasury currently holds 261 million Fine Troy Ounces of Gold (261,498,926 to be exact). The book value for this gold is recorded as $11 billion. If you’re not familiar with accounting, book value is NOT market value. Dividing $11 billion by the...

Party Like an Investment Banker

Let’s say you’re an investment banker or work in private equity and you get invited to a cocktail party. While there, you get the dreaded question, “What do you do for a living?” (because very few people outside New York understand what investment bankers do). Although I worked as an investment banker for Bear Stearns in London (back when that was still a firm), I’m pretty sure my own...

From Engineering To Finance

After an undergraduate degree in mechanical engineering, a Master’s degree in acoustics (also engineering) and working as an engineer at General Electric for three and a half years, I realized I really didn’t enjoy engineering. While I learned a lot at my time at General Electric, especially in project management, engineering just didn’t excite me, at all. I was also discovering that I had an...

Bear Endings

May 2002. London. After only 13 months with Bear Stearns, my desk phone rang. It was the corner office. The Assistant was calling to tell me that “Jeremy would like to meet with you in the conference room.”. Just minutes before, even though we all knew layoffs were on-going, I had been helping a more junior Analyst named Allen work through a financial model. Although work had all but ceased on...

Past Midway Ramblings on Business & Life

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