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.
指南为英文，与面试语言一致。
"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.
提示Pick a company you can discuss for 20 minutes, not the most famous one. Expect follow-up questions on every number you mention.
"What's happening in markets?"
- 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.
Bond math you should do instantly
Price change ≈ − modified duration × change in yield
例题 · Duration
经代码验证A bond has a modified duration of 7. Yields rise by 0.50%. Roughly how much does its price change?
查看解题过程
- 1.−7 × 0.50% = −3.5%.
答案About −3.5%.
Real yield ≈ nominal yield − expected inflation
例题 · Real yield
经代码验证A 10-year bond yields 4.5% and expected inflation is 2.5%. What is the approximate real yield?
查看解题过程
- 1.4.5% − 2.5% = 2.0%.
答案About 2%.
Common mistakes
常见错误
- Pitching a company you can't defend past the first question.
- No numbers, or numbers you can't source.
- No risks. Every pitch has them, and naming them shows judgment.
- Stale news. Read the markets every morning for the weeks before interviews.
Interview craft