Firm Specific Flashcards
Why Equity Research?
One of my main reasons for applying to a role in Equity research is that it seems like an area where you can continuously learn about an industry and firms, and become an expert in that one area. I love learning about topics, and delving deeper to really understand the intricacies of what really drives things to happen, and equity research seems to match up well with this part of my personality.
Also, I believe Equity Research allows you to develop a wide range of skills, and allows you to have a lot of responsibility and visibility from day one. Portfolio managers will use your analysis to inform their investment decisions, and having this much responsibility given to an entry level position is very unique but something I would thoroughly enjoy
I also think it is important to note why I am interested in research at a buy side firm. Being able to focus on the investment analysis side of the role rather than the marketing aspect is attractive to me as I believe I will progress my skills quicker, as the research side is particularly what I am intersted in.
Why T Rowe Price
When I was researching the company, I found an interview with Mitchell Todd, who works as the Co-Head for EMEA Equity. I found the interview very informative, and thought the culture of collaboration and being investor focused is a place that aligns with my own personality and beliefs. I also noticed that T Rowe Price has been awarded the Morningstar 2020 exemplary stewardship award, which recognises the strong culture at the firm, and this further drove home that T Rowe Price would be a fantastic company to have experience an internship at.
As a second thing, From my research, I also found out that there is an open door policy at the company, as well as an expectation that interns perform very similar work to that of full time analysts. As someone who loves to continuously learn and push myself, having opportunities to learn and the ability to make an impact during my internship is important to me, and hence the T Rowe Price seems a perfect fit.
Also, T Rowe Price’s position as one of the largest Asset Managers puts the company in a great place to thrive amongst the challenges the asset management industry is likely to face. As the active vs passive debate rages on, being able to learn how to research prospective investments from one of the most prestigious firms in the industry is an incredible learning opportunity and not one I wanted to pass up.
Why JP
One of the main reasons as to why I am applying to the programme is that JP Morgan is frequently recognised as the best, private bank in the world, as reported by Global Finance Magazine with both the 2020 and 2021 awards. JP Morgan is also a huge financial institution, managing 2.5 trillion dollars globally. I want to work for a company that is the best in the business, and this is clearly what JP Morgan is.
Also, I have spoken to Ryan Daniels, an analyst currently working in the JP Morgan private bank. He was incredibly forthcoming about the fantastic culture at JP Morgan, and gave an example of how supportive the company and his team have been. This really struck me as many companies say they support their employees, but it is another thing to actually follow through on this promise. Another thing Ryan said is that he has really enjoyed the training programme, and that JP Morgan provide scholarships for employees wanting to pursue the CFA certification. As a young professional, joining a company that will invest in me and provide rigorous training is something that is very important to me, and from speaking to people at the company, this is exactly what JP Morgan seems to do.
A third reason is JP Morgan’s strong position in the finance industry, emphasised by record revenues for 2020 (123 billion dollars) whilst maintaining a fortress balance sheet, and having a place on the Dow Jones Industrial Average. This strong position in the industry, as well as the great professional development opportunities, allows JP Morgan to be not only a fantastic place to start your career at, but somewhere that you can spend your whole career.
Why PWM
My motivations behind applying to the private wealth management dividsion come from my family background. Always grew up in a family that encouraged helping people; grandparents were in the police force, as well as mum working at charity shop. Ingrained in me to help people, for example volunteered for over 300 hours during A levels coaching football to younger year groups. This lines up really well with Wealth Management, as it all about helping people with their financial positon and providing for themselves and their family. I also have previous experience interning at a small independent wealth management firm, and found it very rewarding seeing the impact that pwm has on individuals and families. Also, I like the integration of the portfolio management and investment strategy aspect that an internship on the solutions team would provide. In my spare time, I have built a discretionary investment portfolio, as well as spent time developing quantitative trading strategies, and these are things that I have thoroughly enjoyed. I find that I have a quantitative mind, and really enjoy solving problems, so combining these attributes into a role where I can help others is something that I would thoroughly enjoy. This combination of employing both my analytical abilities and personable nature to have a real world impact on people and families is my ideal job, and this is exactly what I envisage working in private banking in the solutions team provides.
ER News
So I thought youd probably want to hear something a bit different than high US inflation or QE, so thought id talk more on an interesting news story I read on bloomberg regarding Gamestops potential inclusion in S&P500. The News story talks about how because of the meme stock rally in 2021, Gamestop now has a market cap larger than some of the smaller constituents of the S&p500. Therefore, when Gamestop satisfies the other criteria to be included, like two consecutive quarters of profitability and positive profits over 12 month period, could it be included in the S&P500 index. Obviously because the new valuation is largely based on human psychology rather than intrinsic value, it opens the door as to whether the inclusion would undermine what the stock market is about. But then on the other hand, the S&P500 is supposed to track the overall US market, and not including Gamestop in the index once it is rebalanced seems to move into active management, and as passive management is growing in popularity, this may be an issue. It will just be really interesting to see how this story develops over the next few months, and see what impact this has on Gamestops stock as well as similar ‘meme’ stocks.
PWM News
A recent news story that got my attention, was one published by various news outlets, and the article suggested that the traditional 60/40 portfolio may not perform as well as expected during the current market conditions. Traditionally, a common allocation would be to place 60% of your portfolio in equities, and 40% in bonds, and this should provide diversification as in the last 20 years or so, bonds and equities have had a negative correlation.
However, when inflation is at a high level but the growth in the economy is slowing, these two effects concurrently cause a decline in the prices of stocks and bonds, meaning that they would exhibit a positive correlation, and not provide any diversification.
The reason this story particularly interest me is that as inflation in the United States remains above 5% for the fourth consecutive month, we are entering a period where it is possible that we may see slowing economic growth but also high inflation, which means that investors may have to adjust their portfolios to use alternative asset classes for diversification. This would have a profound impact on a large amount of people, including both retail and professional investors
Why BlackRock
One of the main reasons as to why I am applying to the programme is that BlackRock is the largest asset manager in the world by AUM, with over 8.6 trillion dollars as of the end of 2020. As I want to work in the Asset Management industry, it seems natural to apply a firm as large and prestigious as BlackRock, where I can learn how to invest the right way from the best in the business.
Also, I have recently attended the women’s EMEA insight day on the 14th of September. Although I understand that the programme wasn’t marketed towards me, I still found the insight day really useful in learning more about BlackRock. Something that really stood out for me with this event is the time and effort that had gone into it, and it was a lot more in depth than other careers events that I have attended. To me, it felt like BlackRock really tried to give everyone a real in depth look at what BlackRock does, as well as what careers are like at the company. This event really stood out to me when compared to other company’s careers event, and is one of the main reasons I am applying to blackrock
Another reason I am applying to Blackrock is that its position in the industry allows it to thrive amongst the challenges it may face. No matter whether active or passive products will be preferred by investors in the future, BlackRocks will be able to thrive, as it has a unique position as being a leader in both areas. This means that BlackRock is not only an exciting place to start a career at, but you can potentially be there throughout your entire career.
Why Asset Management
Have previous experience with discretionary and quantitative investing and it is something I thoroughly enjoy. Therefore, pursuing a career in it is natural. . I also think the responsibility that comes from Asset Management is great - I like that you can decide your own investment decisions and the role is not purely advisory. I also think my skill set is well suited to the job; I am a very analytical and intellectually curious person, meaning that I want to always know more about the businesses and make an evaluation based on a logical approach. Finally, I think it is a very exciting and dynamic environment to work in. As you always need to stay up to date with current trends, as well as understand a wide-ranging plethora of subjects like business, economics or finance, there are always things to learn and ways to improve, and as someone who seeks continual self-improvement, this is a key motivation as to why I want to work in Asset management.
tell us something about yourself which can’t be ascertained from your CV
I wanted to talk about something a bit more personal about me rather than focusing on academics or experience. To this end, I would like to share that I am an avid football fan, and support Manchester United. Although I obviously watch football, I like to get involved with it in different aspects too. For example, I am a FA qualified referee, and have previously spent time volunteering to coach football to younger age groups during my a levels. Although I obviously do these things out of enjoyment, I would say that they have also made me a more well-rounded person, as refereeing puts you in a lot of uncomfortable and unpredictable scenarios and really tests your decision making under pressure.
Why Natwest
One of the main reasons as to why I am applying to the programme is that Coutts, the Private Banking arm of the Natwest Group, is frequently recognised as the best, private bank in the world, for example receiving the Financial Times’ banker magazine award for best private bank for millenials in November 2020 and Global Finance magazine’s award for best private bank in the UK. As I want to pursue a career in private banking, seems natural to apply for an internship at one of the most prestigious firms within the industry where I can gain valuable experience as to what my role would be in a full time position.
Also, when researching the company, I found an interview on YouTubve with Charlie Nightingale, an analyst in the private bank at the firm. I found the interview really informative, and one of the things that stood out was the flat structure of the firm. Charlie gave an example to support this, by saying that during his internship, he had the opportunity to speak with Peter Flavel, the CEO of Coutts. This really struck me as it would be a fantastic opportunity to meet and learn from senior members of the team, and is a real attraction to the Natwest programme. Another thing Charlie said was that the intern project was something that he enjoyed, and the work that he did still has an impact on the business to this day. This really attracts me to the role, as it seems like you can experience what it would be like working as a full time analyst, and have a great insight into what a career in private banjking would be like.
Why Wealth - Asset Management?
My motivations behind applying to the private wealth management dividsion come from my family background. Always grew up in a family that encouraged helping people; grandparents were in the police force, as well as mum working at charity shop. Ingrained in me to help people, for example volunteered for over 300 hours during A levels coaching football to younger year groups. This lines up really well with Wealth Management, as it all about helping people with their financial positon and providing for themselves and their family. I also have previous experience interning at a small independent wealth management firm, and found it very rewarding seeing the impact that pwm has on individuals and families. Also, I like the integration of the portfolio management and investment strategy aspect that an internship on the Wealth - Asset management internship would provide. In my spare time, I have built a discretionary investment portfolio, as well as spent time developing quantitative trading strategies, and I look forward to working on similar projects in my professional career. I find that I have a quantitative mind, and really enjoy solving problems, so combining these attributes into a role where I can help others is something that I would thoroughly enjoy. This combination of employing both my analytical abilities and personable nature to have a real world impact on people and families is my ideal job, and this is exactly what I envisage working in private banking in the solutions team provides.
TIme you showed leadership
A time I showed leadership was I was attending the HEC Paris Investment Banking and International Finance summer school this summer. As a part of the Summer School, we were assigned groups that frequently had to complete tasks together. In this particular scenario we had to make a case study on how we would value a company. No one was familiar with the case, so I nominated myself to be group leader. In this role, I was responsible for allocating tasks to other group members, completing the introduction and conclusion and making sure the presentation was cohesive and well structured. In addition to this, I also organised regular check ins to make sure everyone was working on time. Luckily, all of my group was incredibly hard working, and we had little to no issues. Our presentation went really well and the summer school leader noted that everything linked together nicely, and was very strong throughout.
Time doing something wrong
I have previously invested in Electronic Arts interactive around October 2018 when I was just starting investing. I made this decision because I liked playing fifa games with friends and thought that it was a good investment based off of thr high revenues they generate from the ultimate team game mode. However, the share price dropped sharply because of a delay to another game in EA’s portfolio. From this experience I learnt that you cant really focus on one catalyst and ignore everything else; you must weigh up both sides and look at all products from a company.
Team conflict
A time when I had a team conflict was when I was working with two others on my YouTube channel. As a group we produced videos that focused on how you can utilise technical analysis to analyse financial markets. One time we were having a discussion about which content to make and there was some disagreement between the 3 of us. Everyone was getting very defensive and we were not really making any progress. I recognised this, and suggested we took 24 hours to think through the options separately which would allow people to think things through rationally. The next day we decided to take a vote on the matter, and we ended up unanimously voting to produce the same video and everyone agreed the right decision had been made.
Why Goldman Sachs
One of the main reasons as to why I am applying to Goldman Sachs is that the company is frequently recognised as one of the most prestigious firms in the world, with world class talent throughout the business. Having the opportunity to work alongside and learn from some of the leading lights in the financial industry, such as Stephanie Cohen, the global co-head of the consumer & wealth management division, is a fantastic proposition, and not one that I thought I could pass up.
In addition to this, I have recently attended the Goldman Sachs firm expo at the 2021 Bright Network Festival, and had the opportunity to hear from Amber Patel, an analyst in the private wealth management division of the firm. Amber was incredibly forthcoming about the fantastic culture present at Goldman Sachs, and said that a particular highlight for her was how high calibre everyone was at the firm, and that she has made some of her closest friends through her job. Being able to work alongside some of the most driven, personable and well-rounded individuals in the world is an environment where I believe I can thrive, and from what I know about the firm, this is exactly what I envisage working at Goldman Sachs is like.
Walk me through your resume
Thanks for giving me this opportunity, and I would be happy too. My name is Nathan Watts, I am from Worcester UK and am currently studying for a masters in finance from Warwick business school.
I would say my interest in finance stemmed from an arguably unrelated experience during my younger years, where I built a business around buying and selling clothes. The idea was to find clothes that were listed for a price lower than what I estimated the item to actually be worth, purchase them and then try to sell them at a higher price for a profit. I spoke about this with my father, and he noted that this process sounds a lot like the process of investing, and that’s when my interest in the finance industry really started. From here, I did an internship with a small wealth management firm, where I was introduced to the basics of portfolio management, as well as being able to see first hand the impact that helping people manage their finances can have on an individual and their families life. In addition to this, I worked part time at Marstons pubs, where I honed my interpersonal skills.
Once at university, I joined various finance related societies, including the global markets and trading societies. Here I presented various presentations on technical and fundamental analysis, and realised that I really enjoyed talking about the financial markets with others. Because of this I decided, to set up a trading and investing community, where others interested in the world of investing could learn and network with others interested in the industry. A short while after, I explored building an algorithmic trading portfolio alongside some of my community members, which was a very challenging but enriching project. These experiences, combined with my passion for helping people, have led me to today, where I am pursuing a career within the wealth management industry, so I can have a real world impact on people and their families, whilst operating in a markets related role.
Tell me about yourself
Thanks for giving me this opportunity, and I would be happy too. My name is Nathan Watts, I am from Worcester UK and am currently studying for a masters in finance from Warwick business school.
I would say my interest in finance stemmed from an arguably unrelated experience during my younger years, where I built a business around buying and selling clothes. The idea was to find clothes that were listed for a price lower than what I estimated the item to actually be worth, purchase them and then try to sell them at a higher price for a profit. I spoke about this with my father, and he noted that this process sounds a lot like the process of investing, and that’s when my interest in the finance industry really started. From here, I did an internship with a small wealth management firm, where I was introduced to the basics of portfolio management, as well as being able to see first hand the impact that helping people manage their finances can have on an individual and their families life. In addition to this, I worked part time at Marstons pubs, where I honed my interpersonal skills.
Once at university, I joined various finance related societies, including the global markets and trading societies. Here I presented various presentations on technical and fundamental analysis, and realised that I really enjoyed talking about the financial markets with others. Because of this I decided, to set up a trading and investing community, where others interested in the world of investing could learn and network with others interested in the industry. A short while after, I explored building an algorithmic trading portfolio alongside some of my community members, which was a very challenging but enriching project. These experiences, combined with my passion for helping people, have led me to today, where I am pursuing a career within the wealth management industry, so I can have a real world impact on people and their families, whilst operating in a markets related role.
Tell me about a time you made a decision. How did you weigh up the pros and cons.
A time that I had to recover from a setback was when I failed to achieve the conditions of my offer to read Economics & management at the University of Oxford. This situation occurred because I actually underperformed at A levels, which was an incredibly disheartening experience, especially as I always want to perform to the best of my ability no matter what I am doing.
However, I didn’t let this get me down, and I wanted to make sure that I made the most of the opportunity to study at the University Of York. I decided to implement a structured study plan, meaning that I went to the library 9am to 2pm on weekdays, which allowed me time to keep on top of my studies, as well as participate in extracurricular activities such as attending society events, socialising with friends, or managing my trading and investing community.
My dedication to following this plan paid off in the end, as I actually graduated from the University of York with the highest degree percentage of any 2021 Economics undergraduate. I am really proud of this accomplishment, and emphasises my resilient attitude, given that I had to overcome a difficult experience which could have easily affected my performance at university.
Why wealth management
My motivations behind applying to the private wealth management dividsion come from my family background. Always grew up in a family that encouraged helping people; grandparents were in the police force, as well as mum working at charity shop. Ingrained in me to help people, for example volunteered for over 300 hours during A levels coaching football to younger year groups. This lines up really well with Wealth Management, as it all about helping people with their financial positon and providing for themselves and their family. I also have previous experience interning at a small independent wealth management firm, and found it very rewarding seeing the impact that pwm has on individuals and families. Also, I like the integration of the portfolio management and investment strategy aspect that an internship on the Wealth - Asset management internship would provide. In my spare time, I have built a discretionary investment portfolio, as well as spent time developing quantitative trading strategies, and I look forward to working on similar projects in my professional career. I find that I have a quantitative mind, and really enjoy solving problems, so combining these attributes into a role where I can help others is something that I would thoroughly enjoy. This combination of employing both my analytical abilities and personable nature to have a real world impact on people and families is my ideal job, and this is exactly what I envisage working in private banking in the solutions team provides.
What does your division do
I believe the function of the Consumer & Wealth Management division is two fold. First, one function is to offer high net worth clients’ solutions to help preserve and grow their wealth with a long-term perspective. This is done by looking holistically across the clients assets and liabilities, and includes investment management, tax advice and estate planning, and banking and lending facilities.
The other function is the consumer aspect of the division. By utilising Marcus by Goldman Sachs, which is an online-only consumer bank, Goldman Sachs is able to provide deposit and lending facilities to millions of customers across the United States and United Kingdom
Portfolio allocation
EDIT using Investment Management stuff
First thing to say is that personal goals, investment horizon and risk tolerance.
Right now, my time horizon is longer-term and hence I can look to take on more risk than if my time horizon was shorter term. Therefore, I would place a strong portion, say 70%, of my portfolio in various index funds to provide a large portion of my portfolio in relatively high-risk investments. Also, spreading around a few index funds will provide diversification without moving from the equities asset class. I would probably allocate 40% to a Nasdaq index tracker, as the US economy has a strong performance and this should give me a relatively stable core position of my portfolio. I would then look to invest another 20% in 3 other index trackers, for example the FTSE100, DAX30 and a Bovespa index tracker which will give me a higher risk higher return access to an emerging market in Brazil. These investments should give me sufficient equity diversification, but introduce some exchange rate risk to the portfolio. Next I would gain some exposure to the Lyxor World Water ETF, say 10%, as I am bullish on this sector as we will require some innovation to solve the potential water scarcity crisis on the horizon and hence this sector should benefit. I would then invest 20% in corporate bonds index trackers, providing a more stable investment and a higher risk but higher return investment than government bonds. The last 10% would be spread around other asset classes, perhaps in REIT’s, cryptocurrency and gold.
What skills can you bring to this role
I think my previous experiences have allowed me to develop skills that will help me during the role, and I believe my hardworking and personable nature will allow me to thrive. For example, Through my entrepreneurial efforts, I have experience building a quantitative portfolio utilising technical analysis strategies, as well as managing a small five-figure discretionary investment portfolio. During these projects, I have been able to develop my quantitative and problem solving skills, which will put me in good stead when performing portfolio or investment analytics. In addition to this, my time working in a client facing role at Marstons pubs has honed my interpersonal skills, which will be incredibly beneficial when interacting with clients during the internship.
Outside of this, I would also say that I am a good personality to be with in the office; I am incredibly driven and hardworking, which is emphasised by my academic success, but am also a friendly and personal person, and am always willing to engage in discussion or help others.
Give me a time you failed
A time that I had to recover from a setback was when I failed to achieve the conditions of my offer to read Economics & management at the University of Oxford. This situation occurred because I actually underperformed at A levels, which was an incredibly disheartening experience, especially as I always want to perform to the best of my ability no matter what I am doing.
However, I didn’t let this get me down, and I wanted to make sure that I made the most of the opportunity to study at the University Of York. I decided to implement a structured study plan, meaning that I went to the library 9am to 2pm on weekdays, which allowed me time to keep on top of my studies, as well as participate in extracurricular activities such as attending society events, socialising with friends, or managing my trading and investing community.
My dedication to following this plan paid off in the end, as I actually graduated from the University of York with the highest degree percentage of any 2021 Economics undergraduate. I am really proud of this accomplishment, and emphasises my resilient attitude, given that I had to overcome a difficult experience which could have easily affected my performance at university.
Tell me about an accomplishment
A time that I had to recover from a setback was when I failed to achieve the conditions of my offer to read Economics & management at the University of Oxford. This situation occurred because I actually underperformed at A levels, which was an incredibly disheartening experience, especially as I always want to perform to the best of my ability no matter what I am doing.
However, I didn’t let this get me down, and I wanted to make sure that I made the most of the opportunity to study at the University Of York. I decided to implement a structured study plan, meaning that I went to the library 9am to 2pm on weekdays, which allowed me time to keep on top of my studies, as well as participate in extracurricular activities such as attending society events, socialising with friends, or managing my trading and investing community.
My dedication to following this plan paid off in the end, as I actually graduated from the University of York with the highest degree percentage of any 2021 Economics undergraduate. I am really proud of this accomplishment, and emphasises my resilient attitude, given that I had to overcome a difficult experience which could have easily affected my performance at university.
Walk me through a hard goal you set
Wanted to motivate myself to work hard towards my degree, so decided I wanted to graduate with at least 80% overall. Set up a study plan, and went to library 8-3 which allowed me to study hard but then also have time for extracurriculars. Ended up achieving this, and received the head of department prize for highest overall degree % of any 2021 graduate.
Tell me a time you improved a task
A time I saw something that my team was doing wrong, was when I was building a quantitative trading portfolio alongside some of my friends. We were trying to build trading strategies that utilised technical analysis to trade on different financial markets, and in this particular scenario, We were trying to code a trading strategy that utilised a trailing stop loss, but the strategy was not working. We were using a quite niche programming language at the time, and when we were trying to troubleshoot the issue, we couldn’t actually find any materials or people to help this.
After taking some time to think about the issue, I realised that we could actually switch to a different programming language, and then see if we could solve the issue by taking this alternate approach. After doing some research with the group, we settled on trying to code the strategy with Python, and it actually turned out to work easily, as well as having other benefits such as more efficient backtesting and a plethora of materials that help us improve our programming skills..
By taking this alternate approach, we have vastly improved the building of our trading strategies, and I now frequently used the idea of trying to find alternate methods to solving things in other aspects of my life.
Tell me something hard you are doing at the moment
Something hard I am doing on that moment is Building my quantitative trading portfolio alongside a couple of my friends. Coming from an economic background, I haven’t had many opportunitys to use programming languages, and so I am unfamiliar with a lot of them. However, I recognised that these are essential skills to learn, and hence enrolled in a course from the EDHEC business school in python, and am also doing extra lessons in Matlab on the Warwick Business School. Although it is a steep learning curve, I am really enjoying the challenge, and the skills are proving useful when building our quantitative trading portfolio.
How would you build a portfolio?
EDIT using Investment Management stuff
First thing to say is that personal goals, investment horizon and risk tolerance.
Right now, my time horizon is longer-term and hence I can look to take on more risk than if my time horizon was shorter term. Therefore, I would place a strong portion, say 70%, of my portfolio in various index funds to provide a large portion of my portfolio in relatively high-risk investments. Also, spreading around a few index funds will provide diversification without moving from the equities asset class. I would probably allocate 40% to a Nasdaq index tracker, as the US economy has a strong performance and this should give me a relatively stable core position of my portfolio. I would then look to invest another 20% in 3 other index trackers, for example the FTSE100, DAX30 and a Bovespa index tracker which will give me a higher risk higher return access to an emerging market in Brazil. These investments should give me sufficient equity diversification, but introduce some exchange rate risk to the portfolio. Next I would gain some exposure to the Lyxor World Water ETF, say 10%, as I am bullish on this sector as we will require some innovation to solve the potential water scarcity crisis on the horizon and hence this sector should benefit. I would then invest 20% in corporate bonds index trackers, providing a more stable investment and a higher risk but higher return investment than government bonds. The last 10% would be spread around other asset classes, perhaps in REIT’s, cryptocurrency and gold.
An area thst you are interested in right now?
I think the recent news story that has really stuck with me is the current inflation levels in the United States. The current level has remained above the 5% mark for the 4th month in a row, which provides doubt to the idea that this inflation will only be trainsitory. The chair of the federal reserve Jerome Powell has previously expressed his belief that the current inflation level is only transitory, and hence inflation should reduce in the near future. However, the fact that inflation remains at such an elevated level brings into question whether this will actually be the case. The thing that is critical about this story is that, If inflation continues to persist at these levels, the federal reserve may be forced to increase interest rates, which is likely to halt the fantastic bull run we are seeing in the US equity markets, as well as having ramifications for the wider markets such as the Foreign Exchange rates or even the bond market. An increase in US interest rates is likely to cause people to rebalance portfolios, and most if not all asset classes are likely to be impacted, something that is evidently quite significant.
Example of Interpersonal skills
Example - Bar Staff at Marstons.
Scenario -
Task - Informed customer only 20 minute wait on food. This was incorrect, and was actually over 30 mins.
Action - Had to go and explain to customer who appreciated my honesty and thanked me for coming and updating them rather than just letting them sit there wondering
Responce - Learned that you should always be honest and keep clear communication with customer even in light of mistakes.
