Here's a refresher on the concept of working capital. But we don't just cover the concept today, we'll look at the formula and what it means. Specifically:

• Working capital cycle (aka the funding gap) = Receivable Days + Inventory Days - Payable Days

Thanks so much for supporting the show!

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Updates in the world of investment banking, regarding Wells Fargo's release from it's $1.95 trillion asset cap. Also, Ken Moelis steps down as CEO of Moelis & Co.

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Drew Pascarella is a seasoned investment banker and educator (including my professor!). Drew shares his journey from an IT role at Goldman Sachs to becoming a front-office investment banker at Citi, and eventually transitioning to teaching at Cornell University.

We cover a lot of ground, including themes such as:

- the importance of networking and mentorship
- building your reputation throughout your career
- the evolving landscape of investment banking education

It was an honor to interview someone who played such a big role in my journey these past two years. So Drew - thank you for coming on the show!

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Series 63 exam results and differences from the SIE.

Also…I just graduated from business school!!!! 🙌🏽

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Most of the investment banking jobs in the United States are in New York...but what if you want to work somewhere else? Setting up your life in a physical location is a big decision that impacts your entire lifestyle. Today we cover how to tackle this interview question.

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Today we're sitting down with Pete Fraser, a former mechanical engineer who successfully pivoted to investment banking after his MBA at Cornell. Pete shares his journey from working in a steel mill in Gary, Indiana to landing a coveted position at Guggenheim in New York City.

We discuss:

• The culture shock of MBA recruiting
• A cautionary tale about getting cut
• The "Zero Defects" philosophy
• The importance of having a champion on the inside
• ...and much more

Check out Pete's book Wall Street Dropout at https://streetdropout.com/

You can reach out to him at: peter@streetdropout.com

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Beta measures systematic risk...great to know, but what do we do with it? In today's episode we'll walk through how to un-lever and re-lever beta based on the capital structure of a target business that you're valuing (e.g. for a DCF analysis).

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How I did on the Securities Industry Essentials (SIE) exam and advice for you!

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