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Accounting vs Investment Banking (1 Viewer)

frinkanator

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dreamz said:
what's more funny is u think u'r king shit, looking down upon people working in an accounting firm

when in fact, u've got absolutely no idea what it's like to work in any finance related industry

stfu
Shite man, at least use proper punctuation, you're impressing like those street tools off Jamies Kitchen.... another incompetent junior 'accountant' coming up...

cheers.
 

redruM

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frinkanator, just don't act like a tool. You don't need to insult others to prove a point. :)
 

frinkanator

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redruM said:
frinkanator, just don't act like a tool. You don't need to insult others to prove a point. :)
I like to converse with people on their level. It makes it much easier for them to understand. :rolleyes:
 

seremify007

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frinkanator said:
Actually, it's not thought or research... I am attaining it through sheer experience. Trading the various markets is a form of industry experience. And I'm not sure you and our loopy friend dreamz quite understand it but the psyche of getting deals and trades under pressure is a unique experience. And I'm lucky enough to taste a bit of it trading the markets and learning from those who've been there. you are essentially the little fish amongst a sea full of IB's and funds. I've talked to those in the aussie industry, and read about many who've worked at london SE, nyse, and the truth is many of those grads, are yet to experience the roller coaster ride that comes with the job. All they've done is read books, done exams, got a degree and tagged along in some cadetships, but experiencing the rush is totally different. There will be days when you are losing a lot and your bonus is on the line. these will make or break you.
What I don't get is why someone who's main experience in M&A is based on meeting people in the industry is telling me what it's like to feel the pressure of 'getting delas and trades under pressure'... considering you're a full time uni student with all the spare time in the world to surf the net and watch the sharemarket, failing to realise that alot of people out there who do have full time work don't have the time/resources to continuously monitor the sharemarket. I don't think you're under any sort of extreme pressure; not to mention you still live under your parents roof.

I love it how you can also say that people on cadetships just 'tagged along'... yet another one of your beliefs which is based not on experience, but what you "think".

I'll get straight to the point which noone else around here seems to make:

Wait until you start working.

Assuming you manage to score a position in IB, disguising your cockiness and lack of respect for any other profession apart from IB such as the HR people who are interviewing you, then your opinion which is based on experience rather than what you've heard will actually amount to something.

frink said:
of course there are disclaimers and such, but insider trading is not all black and white. comparing your relatively miniscule trading portfolio to a massive M&A will not mean much to the stock, and no one really loses. when dealing with human emotions it is difficult to narrow rules and regulations to a T. some rules are made to be broken.

cheers.
Not only do you think you're above everyone else because you trade shares AND have met real IBers, but you also seem to lack any morals (or the ability to pretend that you do have some). You're not the only one around here who trades shares whether it be from their savings or inheritance; and no I don't trade shares anymore.

When you finally do start working in the industry, or in any large firm/bank, you'll realise that it's not just the skills and ability which is important- it's also your integrity.

dreamz said:
what's more funny is u think u'r king shit, looking down upon people working in an accounting firm

when in fact, u've got absolutely no idea what it's like to work in any finance related industry

stfu
I guess I had selective reading and somehow managed to miss your post :)

I wonder how game Frink is to mention who he really is- would he want future employers to see him post here and know who he is? Most of this forum know who I am and where I work, but frink on the other hand is using the internet to withold his identity. If he reveals himself, at least this way we'll know who he is when he attends recruitment events at our respective firms/IBs.

frinkanator said:
Exactly. And I guess you and others are Big 4/IB personnel, and therefore in a position to judge? It's like '''OMFGWTFBBQ!!!! how can a first year do that???!!, you need special VIP access to which they give special badges to once you're past penultimate year maaan!!!."

I actually associate with ex IB'ers (one, being one of our brokers). Not lick their ass through superficial training.

being a corporate lap dog, taking out the auditors trash and making coffee perhaps?
We don't look down on people who don't follow the same career path as us. What we do look down on are people who think they know everything because they read the paper, "associate" with ex IBers (how old are they anyway?), trade shares and attend uni (curious- what course/uni are you doing?), etc...

That last comment you made about dreamz was just rude, disrespectful and unnecessary.

It's difficult to tell if you're being this cocky and overconfident because you know your future employers won't ever realise who you are, or because you really do think you're God's gift to IB.
 

lizbon

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you don't have to get personal about this mate, i never said anything about been king shit myself and better than you, i dont think any of the others have said so either.

As you said, there are alot of traders who are ordinary people e.g mum and dads and retirees, it's a pretty profitable and enjoyable hobby if you know what you're doing. The truth is trading does not necessarily have to complex at all, following a simple strategy in low p/e ratios, high div yields, and doing some research on prospectuses & risk return measures will likely result in decent returns, you only have to look at Warren Buffet to see the results.

Chris Brycki is a self made millionaire, he runs his own investment company and works for a hedge fund. Whatever you want to discredit him, turning 200k into 6mil in a few months is still a pretty damn good achievement.

Btw been humble isnt just about getting down to the level of ex-IBer's that are above you in terms of industry exp. It's also about showing a little dignity & modesty to ppl you think are "noobs".
 
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phrred

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yes, why are they ex IBers did they fail and get fired or did they find something better to do?

Just because you know a couple of contacts doesnt make you gods gift to the ASX, you're still a 19 yr old 'tertiary fool'. My dad was an IBer, many of his friends are IBers (some very high up, MD of Merill Lynch) and portfolio managers. We have a chat sometimes but that doesnt make me amazingggggggg.

Also you didnt tell everyone how well your're doing in your trading. Are you one of those dudes gettin burnt on CDU?
 

dreamz

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the fact that you even pointed out my "horrible spelling" shows just how immature you are

sure, u trade ur mummy/daddy's portfolio, but you're still a little boy... a little boy who thinks he's made for the real world (let alone, investment banking)

some advice (coming from someone who actually works in M&A):

grow up.
 

CrashOveride

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lizbon said:
Chris Brycki is a self made millionaire
He has done some very good hypothetical trading... what about real though?

Does his investment company have a website?

I never heard about the "Universities Share Portfolio Competition".
 

frinkanator

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Ah well it looks like you've all beaten me to a pulp. Well done. I guess that's what I get for not having any backup dudes on here. I shall argue no further. But I never implied I was better than anyone. Quite the opposite really. I bring my own world of experiences to the table, maybe even throw in a little fun acct. vs. IB banter just to spice things up - but when it comes to myself having no direct association with a Big 4/IB or being a uni noob I get somehow shot down personally by the masses. No one ascertains a different brand of coffee. It's all corporate branded lattes for you guys, and nothing else can come close. Behind all that glitz and glamour you like to immerse yourself in, there are other unique individuals in the game. Well I'm happy where I am at the moment, and you cotton wool dudes seem to have a good idea of where you're heading. But yeah agree to disagree for now.

As for my real identity seremify007, I really don't see the need to parade myself and my efforts, as you keenly do. I think employers will take me for what I am in person and my track record, not by the harshness/niceness of posts I make at a school fan club or by the number of business friends at that corp. I have. Phrred, I've done relatively well in trading, but not without its downfalls of course.... as you'd know most responsible traders don't publicly blow their own horns on returns so to speak.

Cheers.
 

redruM

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frinkanator said:
I like to converse with people on their level. It makes it much easier for them to understand. :rolleyes:
I think you are a troll.

But if you're not...you can be the best person (for a position) on paper, but I think when it will come down to it, you will suck at having respect for others and you won't fit into any firm.

I hope you are a troll and/or just bullshitting. If you aren't then I'm amazed that someone can have their heads up their ass this far.
 

frinkanator

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redruM said:
I think you are a troll.

But if you're not...you can be the best person (for a position) on paper, but I think when it will come down to it, you will suck at having respect for others and you won't fit into any firm.
Honestly, you automatically make that assumption because I'm posting little too aggressive for your liking on this board? I'm sorry but I didn't barge in on the World Economic Forum with all the world's business elite watching. Is that how far you have your heads up your asses?
If the business world were made up of soft individuals like yourself, then every firm would have pink walls. Business is about dealing with people, not pansies. You scratch my back I'll scratch yours. Not, if you kiss my ass I'll kiss yours. If you can't handle the unplesantries of doing business with people, then sorry you're not cut for it. An employer would rather take up someone whose decisive and instinctful than some preppy who just knows what to say at the right time, just to get browny points.

cheers.
 
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redruM

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Honestly, you automatically make that assumption because I'm posting little too aggressive for your liking on this board?
Well, we only know about you through your posts; content and tone. And going by that and the fact that BOS is troll-prone, I just threw the idea out there. I didn't assume anything. I clearly addressed it as if you weren't...


I'm sorry but I didn't barge in on the World Economic Forum with all the world's business elite watching. Is that how far you have your heads up your asses?
All I said was that you don't need to make insults to others, because you perceive them to be inferior. Let me guess, you laugh weekly at your garbo?


If the business world were made up of soft individuals like yourself, then every firm would have pink walls.
I don't mind the colour pink. Its amazing that you knew this about me.


Business is about dealing with people, not pansies. You scratch my back I'll scratch yours. Not, if you kiss my ass I'll kiss yours.
Thanks for business lesson.


If you can't handle the unplesantries of doing business with people, then sorry you're not cut for it.
Like you said yourself, this isn't the World Economic Forum...so maybe some pleasatries won't be too bad? Stress is bad for your health.


An employer would rather take up someone whose decisive and instinctful than some preppy who just knows what to say at the right time, just to get browny points.
What makes you think the employers don't know about this, and more importantly, what makes you think employers can't pick up on this?



Look, the only problem I had was your overly aggressive tone. Your achievements sound great, but you seem like an elitist. Something which I don't like about people. But that isn't important as I wouldn't be someone who'd be in a position to employ you.
 

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Sorry Omnidragon, I dont live on BoS. Yes GSJBW have done well in M&A but they have been inconsistent in the past.

ND: You seem like a newsgrabber, copy one topic from another forum and paste it here :)
 

ND

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Oh do you mean the Aleksey Vayner thing? Heheh nah someone forwarded that to my email. Funniest thing i've seen in a while so i thought i'd share.
 

frinkanator

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seremify007 said:
I wonder how game Frink is to mention who he really is- would he want future employers to see him post here and know who he is? Most of this forum know who I am and where I work, but frink on the other hand is using the internet to withold his identity. If he reveals himself, at least this way we'll know who he is when he attends recruitment events at our respective firms/IBs.



We don't look down on people who don't follow the same career path as us. What we do look down on are people who think they know everything because they read the paper, "associate" with ex IBers (how old are they anyway?), trade shares and attend uni (curious- what course/uni are you doing?), etc...

That last comment you made about dreamz was just rude, disrespectful and unnecessary.

It's difficult to tell if you're being this cocky and overconfident because you know your future employers won't ever realise who you are, or because you really do think you're God's gift to IB.
I couldn't resist to rebut this little gem one last time :)
"Attend recruitment events at our respective firms/IBs?" Show me the document that says you are an employee of these corps, and I'll give you my soul. Are you a recruiter?

Seremify007, you speak like you hold yourself in such high authority... This is what I mean by these 'cadetships' going to your heads. Just because you have a nice academic record, and are able to tag along at these nice shiny corporations, it is alright to talk down on people like myself. If I go by your sig correctly you were still a scrawny year 12 stressing about exams just last year? Heck last year, I chose to learn from real investors/traders who have gone beyond the corporate world and are doing so much better managing their own financial livelihoods.
Personally to me, you seem like the typical spoilt brat mummies boys, who wet themselves when they get into the real world. Like I've said, it's not just book smarts, but street smarts are also attractive to employers. I like to call myself a user of both.
My main point is that, it really is pointless to judge me without even knowing...you really have no idea of the various ways to get industry exposure/knowledge beyond the Big 4/ Big IB world you only know about. I'm not trying to sound like I have a grudge against the corporate world... I do wish to get to the corporate level in the future. Perhaps even a cadetship god forbid. But I will not seem like I'm better than everyone or talk down to others who have taken other unique paths.

If you actually look beyond your fat cranium, I was including the accounting vs. IB banter to talk you stale people up. Because all the threads I've read on here are as pink as an ass kissers bottom. I'm sorry if I rained in on your tea party forum. But you have to learn how to deal with people like me. I believe my style is a leg up on the usual bulldust you hear from ponces with impeccable uni marks. Don't accuse me of having no morals, manners or integrity... being raised in a business environment, and liasing with customers in the IT industry has taught me a lot about mutual relationships in business. It really is only an agression I have towards stiff lips like you. But when it comes to being professional, I like to think I have some idea. I love it that you judge my personal traits, and potential failure with recruiters on a few posts I've made at a forum packed with teenyboppers... I've only joined in the last couple days, yet you seem to post like Ian Macfarlane and Peter Costello combs these forums every day.

Do you really think I hate CPA/CA's with a passion? My dad and I deal with them occasionally. And they certainly don't hate me. It's a business relationship. I don't kiss their ass.

I said, I don't really see the point in advertising myself, but if you must perhaps try and compare 'my penis with your fat large corporatised one with massive authority' then: The ex IB'ers I associate with; some are heads of trading floors at broking houses, but the particular one I was talking about was a 28yo ex Mac bank dude, who has his own successful investment company, managing quite large portfolios - of which me and my father currently have some investments in . These guys aren't the juniors or recruitment agents you like to rub shoulders with. They have been there working hard and have used their experience there as a launching board into a sucessful independent financial career.
I go to a uni in Melbourne, majoring in Finance and like I've said a million times, I don't think I'm gods gift. It is very much the opposite, as you speak like you own me just coz I'm different to your average punk 1st year. I really don't think you guys are so special or see why you think this forum is so special, but the way you talk to each other is hilarious. Spot a little game of croquet at the country club, old chap?

I've actually taken the effort to shy away from a lot of the corporate BSer's who think they're top because they are up there with the 'big boys' - but instead aligned myself with those members of the community who have successfully built up themselves up. Not ride on the coattails of corporate utopia.

Cheers.
 
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Conspirocy

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frinkanator said:
The ex IB'ers I associate with; some are heads of trading floors at broking houses, but the particular one I was talking about was a 28yo ex Mac bank dude, who has his own successful investment company, managing quite large portfolios - of which me and my father currently have some investments in .
Cheers.
Think an important lesson has been displayed by frinkanator, sometimes when your getting started in the real world, its not what you know but who you know.

Like maybe some people would take the same path as this kid from melb, but never had the chance. It's a real edge, I have friends at uni who have worked hard and had no leg ups to get where they are. Others have worked hard and got where they want to be . Some worked hard, got in and then got rejeceted, or beaten by people who peaked at the right time.

Then again, some people do get a leg up from parents and who they know. but seriously all that does is get your foot in the door, once your there you have to perform or you will just be stuck and collecting a pay cheque.

Like I'd ask if frinkanator went to a private school in melb, but I think if he said yes, that would cause an even bigger stink. But would be interesting to know.

My experiance is that sometimes people from different backgrounds dont get along. However, entry to uni doesnt discriminate based on who you are or where you are from, only what you achieve. Is that really the same for the workforce?

Then again, achievement is subjective. While what you actually achieve is a good indicator of what can do. It is not an full proof indicator of what you could possibly do. This is an important point, im sure people could possibly at this stage of their life make a decision to go into Accounting or IB and then work for it and achieve it, just because they chose one doesnt mean they couldnt do the other, or weren't smart enough etc etc, which has been the tone expressed a lot.
 
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AppleXY

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Re: Accounting Cadetships

an irrevelant question, but i hope u guys dont mind.. but...

Is 1st Year Accounting (similar to VCE accounting) in action in a accounting job (auditing), coz its veeryy tedious and frustrating haha :p
 

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Re: Accounting Cadetships

All this talk about business, enterpreneurship, aligning yourself with the right people, sucking up, investing, creating wealth is nauseating to me. It reminds me too much of the arse sucker contestants on the apprentice.

I personally didn't choose to do Commerce to trade for some rich , I think of it as a viable avenue to contribute to society and improve the structure and efficacy of our capitalist system. I don't know why accounting is so shit to some people. I've come to realise it doesn't really matter what other people think. If they think accountants are too shit for IB, who cares? if they think lawyers get paid more than accountants, who cares? if they think the the big 4 are backwater institutes for investment banking, management consulting and law firm rejects (who are in turn medicine rejects), who cares?

AppleXY said:
an irrevelant question, but i hope u guys dont mind.. but...

Is 1st Year Accounting (similar to VCE accounting) in action in a accounting job (auditing), coz its veeryy tedious and frustrating haha :p
I think its like this. 1st year accounting/VCE is like learning what 1 + 1 is.

When you are working in accounting, you don't actually do 1 + 1 but in order to understand how to do anything else you have to know what 1 + 1 equals.

In other words, in chemistry, although in VCE you may learn 2H2 + 02 ---> 2H20 (i dunno if thats correct, i just pulled it outta my ass), when you work as a scientist you don't combine hydrogen gas with oxygen gas all day. Its essential, foundational knowledge but you don't "apply" it directly
 
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