Interview craft

Market questions: pitching a stock and discussing the news

A structure for "pitch me a stock", "what's happening in markets?" and quick bond-math questions. Interview practice only, never investment advice.

3 min de lecture2 exemples corrigésS&T · AM · HF · Equity research

Les guides sont en anglais, la langue des entretiens.

"Pitch me a stock"

1
One-line thesis
The company, what you think, and what the market is missing.
2
Two or three reasons
Each backed by a number: growth, margins, market share, cash generation.
3
Valuation
What it trades at against peers and its own history, and what you think it's worth.
4
Catalysts
What will make the market see it, and roughly when.
5
Risks
What could go wrong, and what would change your mind.

ConseilPick a company you can discuss for 20 minutes, not the most famous one. Expect follow-up questions on every number you mention.

1
What happened
One sentence with a number: the move, the data release or the decision.
2
Why
The cause, as the market sees it.
3
Who's affected
Which assets, sectors or countries, and in which direction.
4
What to watch next
The next data point or event that would confirm or reverse it.

Price change ≈ − modified duration × change in yield

Exemple corrigé · Duration

Vérifié par code

A bond has a modified duration of 7. Yields rise by 0.50%. Roughly how much does its price change?

Voir la résolution

RéponseAbout −3.5%.

Real yield ≈ nominal yield − expected inflation

Exemple corrigé · Real yield

Vérifié par code

A 10-year bond yields 4.5% and expected inflation is 2.5%. What is the approximate real yield?

Voir la résolution

RéponseAbout 2%.

Erreurs fréquentes

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Interview craft