Relive ‘Vicky Cristina Barcelona’ Before Applying For A Job At Fortress

Mike Novogratz is sick of meeting kids who interned at banks before working on Wall Street. BORING.
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More this, less "I ran into Gary Cohn once in the cafeteria."

Mike Novogratz isn’t going to recommend doing something stupid, like not going to college. But if you’d like to work at Fortress Investment Group, he does recommend you become interesting and not some carbon-copy Wall Street drone whose résumés are putting him to sleep and clogging his shredder. So before you become the 741,987th person to crow about all they learned during their two month Goldman internship, let him stop you. For Mike Novogratz wants to hear tales of the world when you sit across from him. Before heading off to college (Princeton would be good), take a year off and travel the world. Watch the sun rise over Angkor Wat. Outrun kidnappers in the Middle East. Learn about the pleasures of your body from a French dame. Spend some time on the professional-wrestling circuit. Figure out something new to do with bitcoins. You know, rough it for a while, develop that sunken backpacker look, get that venereal disease treated. Then give him a call. Trust him: Some time in shitty hostels and paying for street-cart dosas with handjobs will make your eventual jetting between different Rosewood properties all that much sweeter.

"We interview a lot of kids, and they always want an internship at Goldman Sachs, an internship at McKinsey," Novogratz, founder of Fortress Investment Group, said Sunday on the weekly show "Wall Street Week."

His advice: "Go do something different. Get on a motorcycle and travel through India and take photographs. Create a story where you learn something...I'm a big fan of the gap year."

A billionaire’s advice: Don’t Intern at Goldman Sachs. Travel [CNN Money]


Mike Corbat's Wife Is Gal-Pals With The Wife Of One Of The Guys Abruptly Fired The Day He Was Named CEO, And Other Things Making His First 100 Days At The Top Awkward

Over at the Journal today you will find a story called "Awkward Spot For Citi's CEO," which details the various awkwardness encountered by Mike Corbat since he took over as Chief Executive Officer, following Vikram Pandit's awkward ousting. There is also a delightful bonus round of awkwardness that comes as a postscript to the article, but we'll get the that later. First, why are things slightly awk for Corbat? Well, for starters, he knew that Pandit was going to be unexpectedly and unceremoniously fired long before VP did, including the entire time they were on a business trip together. The whole time they were flying over there together, having dinner together, meeting with clients together, taking in shows and doing touristy things when they had downtime from the conference together, he knew Pandit was about to get hit by a truck. No one blames Corbat for Vickles getting canned but, at the same time, there is a feeling by a few at Citi that you'd have to be some kind of monster to look a person in the eye and say "Sure, a trip the the Zen Temples sounds great," and take in the cherry blossoms and drink sake and do karaoke and fight over who is Scarlett Johansson and who is Bill Murray with him all the while knowing what was going to happen when you got home. For Vikram Pandit, a trip to Tokyo for the International Monetary Fund and World Bank conference last month seemed routine. But Michael Corbat, the longtime Citigroup executive who joined Mr. Pandit there, knew better. Unbeknown to Mr. Pandit, Citigroup Chairman Mike O'Neill had told Mr. Corbat that the board could seek Mr. Pandit's resignation as chief executive and hand the job to Mr. Corbat, according to people familiar with the situation. A day after Messrs. Pandit and Corbat returned to New York, that is exactly what happened. A host of financial, competitive and regulatory issues confronts the 52-year-old Mr. Corbat atop the nation's third-biggest bank by assets. But no task is more critical than soothing workers unsettled by the way the board ousted Mr. Pandit and his longtime right-hand man, John Havens, who ran the investment bank and served as president and chief operating officer. The effort is made even more delicate by Mr. Corbat's proximity to Mr. Pandit in the days before the coup. Executives say they don't blame Mr. Corbat for Mr. Pandit's overthrow, though some wondered how Mr. Corbat was able to sit through the IMF meetings knowing what was to unfold. Additionally awkward is the fact that there has been chatter around the office and scrawled on the walls of the men's room that there's only enough room in this Citi for one guy named Mike, and it's not Corbat. Adding to Mr. Corbat's challenges is the perception among some insiders that he is overshadowed by Mr. O'Neill. Employees have privately joked that of the two Mikes, it is Mr. O'Neill who is truly in charge. People close to Mr. O'Neill dispute that notion and say he has spent little time at his Citigroup office in the past month. Finally, you have the awkwardness of Mike not only knowing his colleague Vikram was going to be fired, but that his colleague and friend, John Havens, was getting the boot himself, which may or may not have caused auxiliary awkwardness for Corbat on the home front. Mr. Corbat's position is all the more awkward given his close personal relationship with Mr. Havens. The two men spent time together outside of work, occasionally vacationing with their wives at Mr. Havens' Scotland estate. All good examples of things that could be characterized as awkward to be sure. But! The absolute most wonderful bit of awkwardness to be found in "Awkward Spot For Citi's CEO," is, without question, this: