AD Newsletter: March 2024
Letter from AD Leadership
Dear Access Distributed Community,
We're thrilled to present another edition of our newsletter, brimming with captivating insights and perspectives from our exceptional community members. Let's embark on a journey through the enriching content awaiting you in this month's edition:
Grace Demetrician explores Nvidia's remarkable growth, prompting discussions on its valuation amid debates on an AI bubble. Take a journey through a day in the life of Victoria Chukwuma, an Investment Banking Analyst at TD Securities, gaining insights into her routine and success tips. Neha Thakur sheds light on the Bull vs. Bear Market, underscoring market awareness for aspiring candidates. Check out our upcoming events!
Thank you for being an integral part of our vibrant community. We hope you find inspiration, knowledge, and valuable insights within these pages.
Happy reading!
Getting Up To Speed: Nvidia
By AD Alumni Fellow, Grace Demetrician
Nvidia, the face of the artificial intelligence surge, recently reported earnings that caused their stock price and valuation to soar. Nvidia specializes in the production of computer chips that are utilized across various sectors including data centers, automotive application, gaming, and more.
Just in the last year, Nvidia is up over 230% and over the last 10 years, it is up over 14,000%. These growth rates are astonishing and highly unusual for a company of this size. Nvidia’s products have always been of the top-quality and this is reflected in their consistent growth in earnings. Nvidia’s biggest customers include Microsoft, Meta, Amazon, and Alphabet, which is good in the sense that these companies have the cash and option to spend a lot on chips, but also positions Nvidia at risk because all of these tech companies can rise and fall in tandem.
The attention that Nvidia has recently attracted is very important for many reasons. Some investors are bearish on the fact that this is one of the signs of an AI bubble and that Nvidia is overvalued. On the other hand, some investors believe Nvidia has proven their worth through their top-tier quality and wise financing decisions. There are many resources we can turn to, as investors, to learn more about this debate, and I look forward to hearing your opinions!
A Day in the Life
Meet: Victoria Chukwuma
Interviewed & written by AD Fellow Chinni Kanu
Meet Victoria Chukwuma, an Investment Banking Analyst at TD Securities in Toronto. Victoria graduated from the Smith School of Business at Queen’s University in 2023 and has worked at TD Securities under their M&A division since August of last year.
Day in the Life:
Start of the morning
Depending on the day, I generally wake up between 8:00 and 8:20 am, and then I will leave at 8:40 am to get to work around 9 am. I usually listen to a podcast (generally the global news podcast) on the walk to work.
Get to work
First, I will set up my laptop and say hi to everybody on my team. Then, I will check my inbox and flag essential emails that I need to reply to and go through. Afterward, I read my favourite newsletters (Global News, Reuters and Business Insiders) to see what is happening in the markets and the world.
First Round of Work
Depending on the day, meetings are either front-loaded or backloaded. Generally, in the morning to early afternoon, I get things done that I had yet to do the night before or just landed on my desk, such as responding to my questions from my VPs, turning comments and reconfirming/confirming past deliverables.
Lunch and Friends
At noon, it's usually time for me to eat lunch with my team, a meal prepped from the weekend before. It usually takes me 45 minutes to eat, so I will return to my desk from 12:45 to 1 pm.
Second Round of Work
From 1 - 4, I am generally in meetings where I may feel tired, but taking notes and being present is essential. Immediately after, my team and I digest notes and look at the possible next steps. From 5 - 7, I will go through the to-do list the day before and create a new round of to-dos.
Third Round of Work + Wrapping Up
Around 7, I wrap up another round of work and go to the gym for just under an hour, order my food on my walk as food is provided for free if you are working past 8. Around 9:30, I work on my to-do list, get as many deliverables done as possible and fall asleep at 1.
What are some tips you may have for people going into investment banking?
Be bold and ask questions: It is a very fast-paced environment if you don't tell someone you don't understand, they will assume you know what you are doing. If you are an analyst, you must learn a lot, so questions are mandatory.
Be positive: Especially during late nights working, optimism and positivity will help you get through those long nights.
Organization and time management: Easily the most important, you will fail if you don’t have organization and time management. Creating a to-do list and carrying a notebook with you is best.
Having a support system: It is a very demanding job, and you need people who will reach out to you, whether it be your family or friends.
What has been the most significant learning moment in your career?
As much as this job is mental and technical, it is also psychological, specifically when talking to clients. For instance, my VPs have mastered presenting and discussing financials with their clients and specific stakeholders. It is very similar to how sales roles are in how you have to think of speaking and presenting information.
Definition of the Month: Bull Vs. Bear Market
Written by AD Alumni Fellow Neha Thakur
A bull market is any type of market where prices climb up and there is a generally rising trend. In simple words, if someone is bullish on a security or the market, they believe that its price will increase.
The bear market is the exact opposite of the bull market. In a bear market, prices are expected to decline and there is a declining trend. If someone is bearish, there is unanimous pessimism and an unfavorable outlook towards the market.
As Wall Street recruiting kicks off, it is important for candidates to be cognizant of whichever way the market is headed. Aspects such as unemployment rates, labor market statistics, and an understanding of the market’s general direction are essential as candidates choose what type of industry or role is best for them.
UPCOMING EVENTS
What is Investment Banking? - March 20 @ 7 PM ET
RSVP Here
Join AD Co-Founder and founder of Financeable, Mike Kimpel, as he demystifies the world of Investment Banking. You'll walk away with a better understanding of the different career paths within banking and a roadmap for how to break into this industry.
Financeable: Valuation in 2 Hours - March 27 @ 7 PM ET
RSVP Here
Continue your journey through finance with AD Co-Founder and founder of Financeable, Mike Kimpel.
Financeable: Build a Financial Model in 2 Hours - April 3 @ 7 PM ET
RSVP Here
No experience required!
AD Info Session & Alumni Panel - April 9 @ 7:30 PM ET
RSVP Here
Want to learn more about the Access Distributed Sophomore Fellowship? During our live event, you will hear from AD Fellow Alumni and learn about their experience in the fellowship program, how they landed their incredible internships, and more!
