Exactly - this was his plan whole time. That is why he sent letter about Thompson's resume; that is why he wanted seat; that is why he wanted to "unlock value" of Asian assets;
that is why Yahoo bought his shares at July 19’s closing price, guaranteeing liquidity without forcing Third Point to pay a discount, as usually happens when an investor offloads a large chunk of stock.
"If you already allow people to follow you, people who send friend requests that you ignore, delete or hide will automatically start following you. If you don’t want a specific person to follow you, you can block them at any time."
1. Excel work. Valuing companies or modeling a merger or acquisition or financing. Sometimes it goes beyond this, but that’s the bread and butter of what you do in Excel.
2. Writing (PowerPoint or Word). For pitches you’ll write slides on industry trends, executive summaries and explanations of your analysis… for deals you will create marketing documents that “sell” your client in Word or PowerPoint.
3. Research. This can be finding reports for senior bankers, doing industry research, or Googling for hours on end trying to find the adoption rate of cell phones in a southern province of Kazakhstan.
4. Administrative Tasks. I hope you like scheduling meetings, taking notes, and sending out status updates to your team, because you’ll be doing a lot of that.
I have cousin who worked for Nomura in London and 100+ hours per week are normal thing in IB industry. I doubt that all-nighters were mandatory for interns, but it is very competitive environment and there are dozen of other interns/students waiting for opportunity and ready to do it.
Someone wrote its for the face-time but nobody pulls all-nighter for face time.
One thing to remember is that a lot of those 100 hours are sitting around waiting. Not to say they don't put in a lot of hours, but a friend of mine (banking intern) was told a 7pm to wait for a signed document to be signed and faxed in.
It eventually came at 4am. He basically sat around for 8hr waiting for it.
