You’re a Harvard undergrad and you want to beef up your resume so that in a couple years, top hedge funds will be begging you to take meetings with them. You figure joining some sort of on-campus investor group might do the trick, but there are so many to choose from it’s difficult to figure out which one is going to be your ticket to the big leagues. Except it’s not actually that difficult at all. In fact, the answer is quite simple. There are student investment clubs and there is Black Diamond Capital Investors. The former, piddling little after-school programs for, when it comes down to it, amateurs. The latter, an opportunity to put your balls on the table and make some real money. Read more »
Hardcore Harvard Investment Group Soliciting Student Partners Who Aren’t Afraid To Take Some Risks With Their Parents’ MoneyBy Bess Levin
As you may have heard, several weeks ago a fed up Harvard Crimson staff ran an impassioned editorial urging Occupy Wall Street protesters on campus to leave Goldman Sachs, and those hoping to gain employment with the firm, alone. The last straw had been a group of Occupy Harvard supporters who “attempted to disrupt a Goldman Sachs recruiting event,” which represented a step too far. The newspaper took occupiers to task for “presenting a facile and trivializing interpretation of the root causes of the economic catastrophe and debases our national conversation on the issue,” for failing to comprehend that Goldman Sachs is going to hire employees regardless– and, god damn, it, they ought to be Harvard students–, and for just generally embarrassing themselves by “pitching a simplistic conception of the financial crisis and targeting fellow students [which] is not the way to have a successful movement.” Moving forward, the Crimsonians cautioned, “Occupy ought to refrain from such ill-conceived protests in the future.”
But it was already too late. Goldman canceled an event in Cambridge, supposedly due to the proximity to reading period, though more likely to send a message– that it would entertain the idea of hiring Harvard graduates when it was made to feel welcome. At the time, we urged those dreaming of a job with Lloyd and Co to woo them and woo them hard. Compliments, flowers, red carpet, the works. An editorial extolling, say, the virtues of Abacus and their rippling abs. Stuff like that. Maybe not stuff like this: Read more »
Back in August, a Dartmouth undergraduate wrote an editorial taking issue with “faceless hedge funds” and his peers in New Hampshire who “flock to Wall Street to perpetuate class-based systems of power and dominance.” And, as the new semester began, it turned out that Dartmouth boy wasn’t alone. At campuses across the country but particularly at Ivy League schools, those less than thrilled with Wall Street, and the prospect of their fellow students taking jobs there, have let it out. As a result, many would now prefer to disclose a raging case of gonorrhea or being born with only 7 toes, than the dirty little secret that they hope to gain employment in the financial services industry, for fear of mocking and scorn. After a group of Occupy Harvard protesters “attempted to disrupt a Goldman Sachs recruiting event at the Office of Career Services” on Monday, though, the school newspaper had decided it’d had enough. A strongly-worded editorial was in order.
… while many experts agree that Goldman was part of the problematic system that created the financial crisis, Occupy Harvard’s targeting of a Goldman Sachs recruiting event presents a facile and trivializing interpretation of the root causes of the economic catastrophe and debases our national conversation on the issue.
They went on. Read more »
Yesterday afternoon, the Securities and Exchange Commission announced that it had frozen the assets of “purported” Boston-based quant named Andrey C. Hicks. Purported because, was he actually a quant? Not so much! Other small inaccuracies in his story with which the regulator took issue, describing the total as Hicks’ “brazen web of lies”: Read more »
Bernie Madoff Under The Impression That Harvard Plans To Teach A Course Based On His Legitimate YearsBy Bess Levin
Since February, Bernie Madoff has been on a little something called the Legitimate Years Tour. Yes, he may have pleaded guilty to a $50 billion crime that ruined countless people’s lives, not to mention resulted in the suicide of his own child, but why must that be all that is said of him, when it only represents a single entry on the old CV? He’s did a lot of other stuff too, and because everyone seems to have forgotten all that when his name comes up, much like they conveniently forget about how Mussolini made the trains run or time, or how Hitler built those wonderful autobahns, or how Ted Bundy made women feel special, he was forced to embark on the LYT to jog some memories. The first stop was a February an interview with New York, wherein he griped to Steve Fishman:
“Does anybody want to hear that I had a successful business and did all these wonderful things for the industry?” Bernie continued. “And got all these awards? And so did my family? I did all of this during the legitimate years. No. You don’t read any of that.”
Next stop: a chat with New Yorker reporter Jeffrey Toobin, who was reminded that Madoff “was worth a billion dollars before any of this nonsense started,” during which it was also suggested he should be getting credit for his later work (the legitimacy of which is still an open-ended question in his mind), if only for the fact that its complexities could only be understood by the most sophisticated of investors (him). And finally, as sit down with the Times, where Berns explained that he got such a raw deal because the judge, like all of his feeble-brained haters, doesn’t understand how “the industry” works.
And yet for all the work he’s put into educating you people on the History of Bernie’s World, in which the whole Ponzi thing is but a blip, you just still don’t get it. But you know what? That’s fine. Not a problem. Because Harvard does. Read more »
What did Larry Summers really think of the Winklevoss twins? “Rarely, have I encountered such swagger, and I tried to respond in kind,” the former president of Harvard said in an interview at Fortune’s Brainstorm Tech conference. Cameron and Tyler Winklevoss were at Harvard at the same time that Mark Zuckerberg launched Facebook, and they had come to Summers for help in their fight for a piece of the action. Summers dismissed them, a scene dramatized in the movie the “Social Network.” Summers didn’t try to dispel the portrayal. “One of the things you learn as a college president is that if an undergraduate is wearing a tie and jacket on Thursday afternoon at three o’clock, there are two possibilities. One is that they’re looking for a job and have an interview; the other is that they are an a**hole. This was the latter case.” [Fortune]