Distressed Products Group Intern
Hi guys,
I will be interning within a top distressed S&T group this summer. It is one of DB/JPM/GS. At first I was not aiming for this, sort of stumbled into it. However now im really interested and cant wait to hit the desk. What type of work will I most likely be doing? Reading credit docs, checking covenants, maybe a DCF here and there?
Ive read distressed debt investing by Moyer and read the RX case study by HL. Anything else I should do to prep before I hit the desk?
Thanks!
Hi CertainRomance, no, I never sleep and so I can respond to any lonely threads (like this one) at all hours of the night. Impressive, I know ;-)
More suggestions...
If those topics were completely useless, don't blame me, blame my programmers...
I interned in a similar BB group, also within S&T. Did a lot of fundamental work (lots of modeling), always keeping a credit perspective on things (focus is on downside protection, EBITDA, cash, WC, ciclicality, CAPEX,etc.) and with the aim of generating trade ideas. Job is to elaborate a view on the names you are covering, speak with trading and clients (buy side, mostly HFs) and help trading to take a position (L/S, CDS) and to start making markets.
That sounds great, ill send you a PM later if ok? Thanks!:)
Congrats on DB!
They’re one of the top Distress desks…..
He didn't mean that as an insult. DB is the only one that calls it the distressed products group, but anyway its a top group. Congrats OP, can't wait to get on your distro
I actually interned for this team at DB a few years ago, lol.
You’re going to be in a lot of meetings, with your work mostly being model based.
How were you perceived by the job market after that internship? / are you in credit today?
Hi! I’ll be in your same position next year! Can I DM you?
Sure, go for it!
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