15th August and Goldman Sachs

Last night the recruitment presentations were on the basics of "Investment Banking" (IBD) and "Trading" (Markets), while this morning the program at the auditorium revolved around patriotic sentiments as the country turns 60.

The presentations last night briefed us about the methodologies of valuation, discounted cash flow etc. under the IBD banner and sales, trading, structures and research (in order of decreasing glamor and bonuses), all essentially in equity, under the Markets banner. Financial accounting, i.e. the balance sheet, income statement, cash flow statement better make more sense to find footing in IBD. In markets the 2 key words are "buy" and "sell" and the plays are in options, futures and derivatives. Markets is a zero sum game, but for biggies like Goldman Sachs, it is the company's cash cow.

This morning I saw the Indian tricolor waving in the morning breeze. I was holding a box of Bengali sweets in my hand. The feeling was nostalgic, quite dichotomous from the ambitions and confusion that simultaneously arose the night before. The college staff had showed up in large numbers and had brought their families along. The kids were running around, the adults were busy in small-talk while munching away on their sweets, the spirits were high. Inside the auditorium, the music, dance and drama clubs were about to begin their performances. I realized something, albeit temporarily, (is it Swami Vivekananda I'm quoting?) "It isn't what you do, but how you do it that matters."

Under the sun, with a satisfied sweet tooth and no classes to attend today, life, my friend, is good.