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Know the level within 10bps, the trend over 2 weeks, and one Know the level within 10bps, the trend over 2 weeks, and one Know the level within 10bps, the trend over 2 weeks, and one

Pick a story where you had to set direction without complete info. Pick a story where you had to set direction without complete info. Pick a story where you had to set direction without complete info.

Pick a Chapter 11 from the last 12 months. Know the Pick a Chapter 11 from the last 12 months. Know the Pick a Chapter 11 from the last 12 months. Know the

Lead with the catalyst, not the company. Interviewer wants to see Lead with the catalyst, not the company. Interviewer wants to see Lead with the catalyst, not the company. Interviewer wants to see

Start with the defensive playbook: poison pill, white knight, staggered board, Start with the defensive playbook: poison pill, white knight, staggered board, Start with the defensive playbook: poison pill, white knight, staggered board,

Stock deal: acquirer's earnings yield is 5%, target's is 6.67%. Stock deal: acquirer's earnings yield is 5%, target's is 6.67%. Stock deal: acquirer's earnings yield is 5%, target's is 6.67%.

Lead with the work product: smaller teams, earlier exposure to clients, Lead with the work product: smaller teams, earlier exposure to clients, Lead with the work product: smaller teams, earlier exposure to clients,

Pick a deal under $10B announced in the last 6 months. Pick a deal under $10B announced in the last 6 months. Pick a deal under $10B announced in the last 6 months.

A EBITDA = $200M. B EBITDA = $150M. Plus $50M synergies A EBITDA = $200M. B EBITDA = $150M. Plus $50M synergies A EBITDA = $200M. B EBITDA = $150M. Plus $50M synergies

Income statement: pre-tax income drops $100, so net income falls Income statement: pre-tax income drops $100, so net income falls Income statement: pre-tax income drops $100, so net income falls

Three drivers: multiple expansion, EBITDA growth, debt paydown. Three drivers: multiple expansion, EBITDA growth, debt paydown. Three drivers: multiple expansion, EBITDA growth, debt paydown.

Pick a real, recent failure with stakes. Show the diagnosis, the Pick a real, recent failure with stakes. Show the diagnosis, the Pick a real, recent failure with stakes. Show the diagnosis, the

FIFO has higher EBITDA because older, cheaper inventory hits COGS first FIFO has higher EBITDA because older, cheaper inventory hits COGS first FIFO has higher EBITDA because older, cheaper inventory hits COGS first

Equity value = 100M × $50 = $5B. EV = $5B + $300M Equity value = 100M × $50 = $5B. EV = $5B + $300M Equity value = 100M × $50 = $5B. EV = $5B + $300M

Start with the moment you decided — a specific deal, a specific Start with the moment you decided — a specific deal, a specific Start with the moment you decided — a specific deal, a specific

EV/Revenue is the obvious one given negative earnings, but pair it with EV/Revenue is the obvious one given negative earnings, but pair it with EV/Revenue is the obvious one given negative earnings, but pair it with

Reverse chronological, but tie each role back to one thread — Reverse chronological, but tie each role back to one thread — Reverse chronological, but tie each role back to one thread —

Cost of equity rises (CAPM), cost of debt rises, so WACC Cost of equity rises (CAPM), cost of debt rises, so WACC Cost of equity rises (CAPM), cost of debt rises, so WACC

Growth profile, margins, capital intensity, end-market risk, management quality, Growth profile, margins, capital intensity, end-market risk, management quality, Growth profile, margins, capital intensity, end-market risk, management quality,

Don't list traits. Pick one differentiator and prove it with one Don't list traits. Pick one differentiator and prove it with one Don't list traits. Pick one differentiator and prove it with one

Use STAR. Pick a story where you advocated for a position, Use STAR. Pick a story where you advocated for a position, Use STAR. Pick a story where you advocated for a position,

Show your work out loud. Estimate cabin volume (~30,000 cubic feet) Show your work out loud. Estimate cabin volume (~30,000 cubic feet) Show your work out loud. Estimate cabin volume (~30,000 cubic feet)

Four beats: who you are, why finance, what you've done about Four beats: who you are, why finance, what you've done about Four beats: who you are, why finance, what you've done about

Round covers can't fall through the hole no matter how you rotate Round covers can't fall through the hole no matter how you rotate Round covers can't fall through the hole no matter how you rotate

EV = market cap + debt - cash + preferred + minority interest. EV = market cap + debt - cash + preferred + minority interest. EV = market cap + debt - cash + preferred + minority interest.