Day 5: Comps, & Accretive Deals

Today I went in at about 8:45. I want to try to be the first intern in every day and near the last one out. One great thing about my group is that they really don't care about face time. If you're done, you leave. The thing is that our group is the busiest at the firm, so if you're done it's a rare occasion.

I finished up the project that I started yesterday. It was basically just going through slides and updating the spreadsheets beneath them. Not too bad. I finished that before lunch and spent the rest of the day working on "homework" that we were given. We basically have to spread some comps for three companies. They gave us a comps template (which is horrible, by the way - it runs from left to right instead of up and down, so your financial statements are a pain to read) and a bunch of 10 Ks and Qs to work through. It has been a tedious process.

One cool thing today was that I got to work through an accretion/dilution model with an analyst. I don't think I could go build one myself, but I understood how it all worked and flowed. Maybe I'll try to rebuild the one he built sometime in the next few days if I don't get staffed.

We finished off the day going out for drinks. We went to a bar and every body got beers except for me. It was a little awkward, but they were pretty cool with it. I wonder if it will affect the hiring decision at all - I'm sure it will in the sense that part of it is them asking themselves if they would like to be around me all the time. If I don't drink, I don't fit in as well. Oh well - you never can go wrong doing what's right. Wow - that sounded like a MormonAd.

I thought I was going to be free this weekend, but right as I was leaving my staffer asked me, "So did you finish that project?"

"Yeah"

"Oh great - so you have some capacity now, right? Well keep your BlackBerry on this weekend because I might need you to come in."

I haven't heard from him yet, but I'm worried that my holiday weekend might be spent at the office. We'll see...