http://www.glamwire.com/articles/2008/10/04/investment-banker-for-hire-the-oracle-of-new-york en-us 40 <img src="/files/persky.jpg" <Br> <Br> You may have seen the investment banker Josh Persky on one of the tens...maybe hundreds of news pieces done about him...as the MIT grad hits Wall Street handing out his resume looking for work...wearing a sign saying "Experienced MIT Grad for Hire" hanging over his suit jacket. We believe his story itself is kind of an economic barometer, and certainly one that can reflect on the trajectory of thousands of out of work bankers in New York City. So we will present, once a week, the "Oracle of New York, " from Josh's blog, which is syndicated here by permission, and which can be seen daily at www.oracleofny.com <Br> <BR> Here is the first installment. <BR> <Br> <b> Goldman Sachs, GE and the Oracle of Omaha </B> <BR> By <B> Josh Persky </B>(Currently in Omaha.) <Br> <Br> The Oracle of Omaha (Warren Buffet) has added Goldman Sachs and GE to his trophy room, the Bailout Bill has passed the Senate, and I had a productive interview in Omaha. Is the worst of the storm passing? <BR> I received the following email from a fellow MIT alumni: <Br> <BR> I went to M.I.T.back in the '70s and am in a similar pickle: out of work. (I haven't tried your approach, but I am thinking about it.) Anyway, I thought I'd let you know (if you don't know already) that your picture with the sandwich board appeared in a Chinese newspaper, dated September 7. I'll be happy to send you the tear sheet, if you don't already have it. _Good luck on your job search. My heart goes out to you. I lost my position (as a speechwriter) last January....I am older than you and am having a very hard time.... _Best wishes ( out of work MIT grad) <Br> <BR> For an upcoming interview, I was asked to provide the typical steps used to produce a valuation of a bank loan to a private company: 1. Gather and review financial and legal documentation. 2. Note key loan parameters, such as: interest rate, maturity date, type of loan (bullet or amortizing), first or second lien, financial covenants, up-front and other fees, pre-payment penalty. 3.. Note key financial performance parameters: EBITDA, income, margins, cash flow, balance sheet (historic, current, projected). 4. Analyze key financial ratios: leverage, interest coverage, loan to value. 5. Perform synthetic credit rating on company and DCF analysis on loan. 6.. Compare company to publicly traded similar companies. 7. Compare loan to publicly traded similar debt instruments. 8. If the company is distressed, determine the value of its assets. If the company is in bankruptcy, determine probability and timing of recoveries. Sat, 04 Oct 2008 18:23:00 +0000 urn:uuid:7a4f8fc2-fb6c-4972-9b44-d6eadb30c299 Cal Rhodes http://www.glamwire.com/articles/2008/10/04/investment-banker-for-hire-the-oracle-of-new-york NY Warren Buffet Warenn Ge Sachs Golman Omaha Of Oracle Persky Josh As a result, Baltimore, Memphis, New York andWashington. <a href="http://www.loanbank.co.za/" rel="nofollow">Loan Bank</a> Sat, 04 Oct 2008 20:04:29 +0000 urn:uuid:812a2e65-1588-4da0-8ee4-bd486b5a3b09 http://www.glamwire.com/articles/2008/10/04/investment-banker-for-hire-the-oracle-of-new-york#comment-168941 Good stuff. Sat, 04 Oct 2008 18:37:52 +0000 urn:uuid:edd2aede-7219-4179-99bc-bab04b763890 http://www.glamwire.com/articles/2008/10/04/investment-banker-for-hire-the-oracle-of-new-york#comment-168939