Posted 8:14 PM by Zachary (e-mail)
Michigan Scene
This is the second week of the Michigan Leadership Program (the orientation for MBA1s, an expanded version of last year's one-week Leadership Development Program; more on it later), and so a handful of MBA2s are back to lead the sections through the week's activities. Still, by and large, most MBA2s aren't back. Here is a pot-pourri of thoughts from the first couple days:

The variety of summer experiences is astounding. Some MBA2s have already received (and accepted) offers, some are waiting; some loved their jobs, some hated them. It's a real mixture...

It's completely a hunch, but management consulting seems to be making a huge comeback at Michigan. I know that UMBS was a huge feeder for the McKinseys and Bains back in the late '90s, and then (like most schools) took a huge hit during the recent recession. But speaking to some of my returning classmates, hearing about how they were treated, and looking at the upcoming recruiting schedule, it looks like MC is back...

Golf, golf, golf, golf. It seems like every MBA2 I spoke to has been hitting the links every other day. I never got around to taking lessons in New York, and now I'm regretting it. It's now my number one goal (outside of classes and Finance Club and football, of course). A classmate has recommended MilesOfGolf.com...

Catered lunch during today's MLP activities: West Texas Barbecue...

Numerous parties this week, capped by Saturday's home opener...

I discovered that Michigan Business School has two new bloggers coming on board.

Posted 7:50 PM by Zachary (e-mail)
Summer Wrap-Up
2. Sales & Trading Internship on Wall Street
I went into this summer with a clear understanding of what a Wall Street trading floor is like (from my time at CSFB) and limited expectations for what I, as a summer intern, would be able to accomplish. Thankfully, those expectations were blown away, as the bank I worked for entrusts its young hires with serious responsbilities. From day one I was analyzing trade ideas, pricing securities, and "taking" (simulated) positions. There were no coffee runs or crap-work like that. There was a ton of social events, more steak and beer than I ever thought I could consume, and many smart, straight-shooting, interesting colleagues.

Like most other returning MBA2s, I'm waiting to hear whether the bank will extend me a full-time job offer for after graduation (most of us will be hearing in the next few weeks). Because I had such a great summer, I'd be eager to return to the same bank, but regardless, the experience was very rewarding professionally and personally.

Posted 7:39 PM by Zachary (e-mail)
Summer Wrap-Up
1. The Washington Campus
It seems like years, but it was only three months ago that I attended the Washington Campus' Understanding Washington program for MBA students. Over the course of a week, several dozen MBA students and I sat through presentation after presentation on the mechanics of the federal government. The strength of the program was its broad array of speakers, from congressmen to lobbyists to former ambassadors to reporters.

I was really impressed by the maturity and thoroughness of the presentations. The main lesson learned was that the federal government and the hundreds of tangtial organizations make Washington, DC an extremely complex place where power is very diffuse. Indeed, speaker after speaker emphasized that no single person or group has much power. Even the President, the most powerful figure in the city, is tied down by numerous systemic, legal, and political levers.

Posted 9:18 AM by Zachary (e-mail)
Upcoming Term
Landed back in Ann Arbor yesterday to find my apartment filled with more spiderwebs and dust than the set for Raiders of the Lost Ark. The next few days will be cleaning and settling back in (first reaction, coming from New York: where is everybody?)...

My schedule for the Fall term is pretty Finance-centric:

ACC 564 - Corporate Financial Reporting (14 week)
For students who will "use financial statement information as an input to economic decision-making"

FIN 608 - Capital Markets & Investment Strategy (7 week)

FIN 612 - Principles of International Finance (7 week)
FIN 614 - Managing International Portfolios (7 week)

FIN 615 - Valuation (14 week)
Valuation is one of the most popular electives at UMBS, and is often taken in the first year by students looking to go into investment banking. It extends the lessons learned in the core finance class.

FIN 621 - Corporate Financial Policy (7 week)
FIN 622 - Corporate Financial Engineering (7 week)

FIN 640 - Financial Trading (7 week)
This is the class that makes the most use of the Tozzi trading center. Students compete with each other in a variety of trading simulations.

MO 512 - Bargaining & Influence Skills (7 week)

ASIANLAN 429 - Business Japanese (14 week)
I'm trying to take advantage of the University of Michigan's many sterling academic departments by doing some extended language study.

Update I jumped the gun in my last post; the opening game is next Saturday, not tomorrow. That means another 171 hours to wait...

Posted 10:41 AM by Zachary (e-mail)
Done!
I finished up the summer sales & trading internship yesterday. It blew away my expectations in every respect; there really is no other summer job as interesting, challenging, and fun, out there. The good news: I loved trading, I loved the firm, I loved the desks I was one, and I love the people I worked with. The bad news: this bank doesn't release full-time offers for a few more weeks (this varies from bank-to-bank; some classmates got offers before their summer ended, some on their last days).

In the coming weeks I'll be studying up for the placement exam for 4th Year Business Japanese, preparing for the Finance Club weekly meetings (and New York trip), and acting as a section leader for the new MBA students (in Section 6).

The REAL GOOD NEWS: Only 143 hours until kickoff of Michigan football. Life is good.