<p>hmom, thank you for the comment…though, i don’t recall ever watching a movie about an investment banker. In fact, my uncle works for an insurance company and does acquisitions. His claim is that “investment bankers are lying sacks of ****”. I’m sure I’ll find out whether this is a valid statement at some point, but many of the books I’ve read often hint at the truth in the claim. You commented that S&T is mostly quantjocks, yet a friend of mine who interned at Goldman over the summer(who attends neither a “superior” ivy, nor a lower “ivy”, or even a top 20 school…just good old UMD College Park) said that this was not the case(although I do admit that I thought such was true up to that point). Yet, he was in the equities division and indicated that in fixed income such could be the case. He also spoke to the contrary about failed traders working in CorpFinance. He was under the impression that if you were percieved to be valuable to Goldman, that you would be worked around into a position that suited you. </p>
<p>Any comments on the I-banker’s role at a hedge fund? I mean, what is the need for a banker at a fund that is mostly engaged in a combination of long and short positions in liquid assets. I could understand the necessity, if say, the fund were intending on taking over or merely buying a stake in a private company. Yet, how common is this? My Uncle says he’s had far less competition with hedge fund guys as of the past few years because many of them are still sitting on investments in other companies that are yet to pay off.</p>