Spennyboi
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Hello, I'm a soon to be (fingers crossed) law student commencing my first year this September. I have little, arguably zero knowledge of finance. What can I do to get a greater understanding, i.e. any book recommendations, and how can I prepare for participation in the finance society. I don't want to join and be useless due to being ill-prepared or incompetent in regards to finance. Also, just to be clear, I do want to break into investment banking and would be planning to apply to as many internships as possible, so I'm trying to build the relevant knowledge to succeed before I actually begin my first year.
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anonuser99
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Book is kind of overkill. Go understand what IBD actually does (because I assure you if you have zero financial knowledge, you have no idea). Go watch Bill Ackmans everything you need to know about finance. Maybe also complete asimplemodel.com's courses on modelling (even this is overkill for right now). Go understand how the stock market works, plenty of YouTube videos for this. Go understand what other asset classes exist. Use investopedia, Google, whatever.

Go read the FT everyday and Google what you don't understand.
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Spennyboi
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(Original post by anonuser99)
Book is kind of overkill. Go understand what IBD actually does (because I assure you if you have zero financial knowledge, you have no idea). Go watch Bill Ackmans everything you need to know about finance. Maybe also complete asimplemodel.com's courses on modelling (even this is overkill for right now). Go understand how the stock market works, plenty of YouTube videos for this. Go understand what other asset classes exist. Use investopedia, Google, whatever.

Go read the FT everyday and Google what you don't understand.
Thanks, I will make sure to utilise those. Could you possibly help me understand what finance societies usually include? although I'm sure they do vary university to university. Am I going to be expected to come in with a solid pre-existing understanding of finance, especially if I want any shot at positions of power with the society, since the ultimate goal here is to bulk up my CV.
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anonuser99
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(Original post by Spennyboi)
Thanks, I will make sure to utilise those. Could you possibly help me understand what finance societies usually include? although I'm sure they do vary university to university. Am I going to be expected to come in with a solid pre-existing understanding of finance, especially if I want any shot at positions of power with the society, since the ultimate goal here is to bulk up my CV.
Well you'll find out. First years don't tend to get leadership positions. So you have a year to figure out what leadership does. I have no idea what finance societies do since I've never been a part of one. But I imagine if they operate like normal societies, it's just organising sponsorship, events, talks maybe even conferences. If it's an investment society then I guess they pretend to invest/write research reports.
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Spennyboi
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(Original post by anonuser99)
Well you'll find out. First years don't tend to get leadership positions. So you have a year to figure out what leadership does. I have no idea what finance societies do since I've never been a part of one. But I imagine if they operate like normal societies, it's just organising sponsorship, events, talks maybe even conferences. If it's an investment society then I guess they pretend to invest/write research reports.
Interesting, you have never been part of a finance society. I read your guide on what to do if you don't secure an internship, and assumed naturally you had either succeeded or tried the process yourself. Is this the case? I always thought participation, and usually an important position within the finance society was vital for internship and job applications.
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anonuser99
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(Original post by Spennyboi)
Interesting, you have never been part of a finance society. I read your guide on what to do if you don't secure an internship, and assumed naturally you had either succeeded or tried the process yourself. Is this the case? I always thought participation, and usually an important position within the finance society was vital for internship and job applications.
I have been in a society, just not a finance one. I don't know how material it was in my success. I have plenty of other relevant experience. As I said in my guide, not much is absolutely vital, it all just contributes to a larger whole.
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asianchimp777
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Investment Banking by Joshua Rosenbaum & Joshua Pearl is a book I've heard about on wall street oasis. Might be a good read idk havent read it personally
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Gunna_Seggs
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(Original post by Spennyboi)
Hello, I'm a soon to be (fingers crossed) law student commencing my first year this September. I have little, arguably zero knowledge of finance. What can I do to get a greater understanding, i.e. any book recommendations, and how can I prepare for participation in the finance society. I don't want to join and be useless due to being ill-prepared or incompetent in regards to finance. Also, just to be clear, I do want to break into investment banking and would be planning to apply to as many internships as possible, so I'm trying to build the relevant knowledge to succeed before I actually begin my first year.
The Daily Telegraph: How The Stock Market Works, is pretty good starting point. It goes over main bits and parts without too much details.
I'm not too sure about what kind part of IB interests you but the Vault has a nice guide about asset management, you can find pdf copy using google.

On youtube you can watch Wall Street Millennial and FINAiUS.
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tierny3
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Keep up with commercial awareness and form an opinion on macro events

Most importantly, try to get work experience anywhere (the stronger the brand name, the more likely you will get invited to interview)

Make a CV and cover letter

Make a bank of questions answering stuff like 'tell me about a time you showed integrity'
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