Canadian Cannabis Industry Overview

Canadian Marijuana Companies Aphria Inc. (TSX:APH) Headquarters: Leamington, ON Market Capitalization: 2.258B Patients: Undisclosed Growing Space (Planned or Under Construction): 127,000 sq ft (2,300,000 sq ft) Aphria is a large Canadian LP based out of Leamington, ON. The company operates in both the retail and wholesale space and attempts to differentiate themselves

Understanding the Trading Floor

Written by a structurer at a major investment bank Compensation on the Trading Floor versus Investment Banking Getting paid on the trading floor is very different from getting paid in investment banking. From other literature, the trading floor is supposed to be much more meritocratic than investment banking – we can easily

Why Are Canadian Oil & Gas Companies Down?

This runup in oil prices has resulted in energy companies across the globe seeing their stock prices rise as cash flow expectations ramp up. However, Canadian energy companies have lagged global peers and for some names – gas producers in particular - dropped precipitously during this same time period. The reason

February 2018 Oil Price Update

This week, everything is down – stocks, bonds, commodities and Bitcoin have all been hit hard by the return of volatility, with no safe havens (ironically, Snapchat and Twitter did very well). This sell off was not in line with economic data, which was broadly positive throughout the week. Consumers are

Accounting Questions for Investing and Equity Research

For equity research and investment roles, a very good understanding of accounting is required to parse through financial statements and figure out what does and does not matter. Understanding how things flow through the three statements and how foreign operations affect company profits and cash flow is especially important for companies

Pitch Me an Oil & Gas Stock

What Energy Stock Would You Buy? Pitch me a stock is a question you are certain to get in any investing role or for equity research. You will occasionally get "pitch me a stock" in investment banking, but will not be required to go as in depth. For research and investing

Interview with: Transfer Pricing VP

What is transfer pricing? Transfer pricing refers to the rules and methods for pricing transactions between enterprises under common ownership or control (ie. subsidiaries of large multinationals). It largely applies to the pricing of cross-border transactions between related entities, a good example would be the pricing of services provided by a subsidiary

What Are Segregated Funds? Should You Buy Segregated Funds?

Segregated funds are mutual funds with embedded derivatives or insurance policies. For instance, a segregated fund may be a mutual fund that is similar to most other mutual funds except that they will guarantee 75% of your initial investment provided that you do not collect your money for 10 years.

How to Build Wealth as an Investment Banker

In a previous post, we confirmed that investment bankers do make a lot of money but do not necessarily have a lot of wealth. Most investment bankers end up saving less than their professional peers in consulting or accounting, which are lower paying professions – and much less than their

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