Coffee Chat

Michael Neal
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Coffee Chat is the investment banking recruiting podcast from OFFERGOBLIN. Each week, coaches Michael Neal and Ryan Tan break down exactly how to land the offer. We cover: Networking that actually worksTechnicals that show up in real interviewsA weekly temperature check on what we're hearing right now—across our clients, users, and the street Whether you're at a target school, fighting from a non-target, or switching careers, this is your playbook. Drawing on experience across Centerview, Wells Fargo, UChicago Booth, and Training The Street.

  1. 4 gg fa

    Coffee Chats: A Primer

    A Leland livestream primer on coffee chats — what they actually are, how to get one, and what a banker is screening for.

  2. 4 gg fa

    How to Get the Coffee Chat

    A Leland livestream on how to actually land a coffee chat — outreach that gets replies and how to make the ask.

  3. 4 gg fa

    Tell Me About Yourself

    A Leland livestream on how to actually answer "tell me about yourself" without rambling — and how to keep your answer memorable.

  4. 4 gg fa

    Your Investment Banking Resume

    A Leland livestream on how to build a standout investment banking resume — what recruiters actually scan for and how to structure it.

  5. 23 ago

    Discounted Cash Flow Explained (Better)

    Discounted cash flow from zero: what you actually buy when you buy a share, and why a DCF never equals the price. This episode of the OFFERGOBLIN technical series opens on a class model of NVIDIA, built out by revenue stream, that asked one question. What would have to be true for the market's price to make sense? The answer was absurd, and the stock did not care. From there it builds the discounted cash flow in plain English: why a share is a claim on future cash, which cash you discount and why it's unlevered, why a dollar later is worth less than a dollar now, what WACC is and why the rate has to match the cash flow, terminal value and why it runs 60 to 80 percent of the answer, how the model bridges to a share price, and when a DCF is the wrong tool. It closes on the part nobody says out loud. Value and price are different questions, and the way bankers actually use the model is backwards: start from the price and solve for what the market must already believe. A real Goldman Sachs superday question gets worked on air. QUESTIONS FROM THE EPISODE Goldman Sachs Healthcare — Superday, 2025 (why you need a discount rate at all, worked on air): https://www.offergoblin.com/q/019fd45e-1066-477e-8118-9d619927f139 Moelis Generalist — 1st Round, 2024 (what cash flows you use, and how you get there): https://www.offergoblin.com/q/34de4b7e-32c3-4296-9962-6b2e88992dcd FT Partners FinTech — Superday, 2022 (explain WACC and how it's used in a DCF): https://www.offergoblin.com/q/4cf98d1b-6cf4-4f6b-aa84-d02b8cc0453b Lazard Industrials — 1st Round, 2023 (the two ways to calculate terminal value): https://www.offergoblin.com/q/de77b686-74d6-4573-9af7-6cbd71062074 Evercore — 2017 (from enterprise value to price per share): https://www.offergoblin.com/q/2fce9535-ddf2-4a6f-b74d-e6d51c761bda J.P. Morgan Technology — Superday, 2023 (Zoom or Broadcom, which one do you run a DCF on): https://www.offergoblin.com/q/123bcd29-0f89-4aa7-a367-4596f0fe166a The free guide to the discounted cash flow: https://www.offergoblin.com/resources/discounted-cash-flow-dcf Practice 3,500+ reported IB interview questions: https://www.offergoblin.com/question-bank The OFFERGOBLIN technical series is hosted by Michael Neal, founder of OFFERGOBLIN and former Centerview banker. New episodes every Friday. Everything OFFERGOBLIN: https://linktr.ee/offergoblin Run it backwards on a company you follow. What would the market have to be assuming to justify today's price, and do you believe it? Put your answer in the comments.

  6. 9 ago

    Trading Comps Explained - The IB Interview Answer

    Trading comps from zero: how bankers value companies off their peers, and the day Jeff Bezos got $5 billion richer. This episode of the OFFERGOBLIN technical series opens in April 2015: Amazon shows Wall Street the AWS numbers for the first time, the cloud business everyone assumed lost money turns out to run a 17 percent margin, the stock jumps 14 percent to an all-time high, and Jeff Bezos ends the day nearly $5 billion richer. Same company, new comparison. From there it builds comparable company analysis in plain English: why bankers price everything off comps, what a multiple actually is, how the peer group gets picked, the three multiples that do almost all the work (EV/EBITDA, EV/Revenue, P/E), why enterprise value pairs with EBITDA but share price pairs with earnings, and what makes one company trade at a higher multiple than another. A real Moelis question gets worked on air. QUESTIONS FROM THE EPISODE Moelis — 2019 (the orange farm, worked on air): https://www.offergoblin.com/q/99826411-0842-40c6-9b78-34e0e2b15fe8 Lazard Energy — 1st Round, 2025 (explain the multiple gap): https://www.offergoblin.com/q/0fd44070-47b4-4bf0-8e43-f185b5eba9fc Lazard Healthcare — Superday, 2025 (find the errors): https://www.offergoblin.com/q/04f20d55-df81-4cbd-b4f7-1cc3e1c0d126 Centerview Partners Healthcare — 1st Round, 2025 (comps vs precedents vs DCF): https://www.offergoblin.com/q/14b34e5e-2d46-47a4-85c8-d208a35b25fe FT Partners FinTech — Superday, 2022 (picking the peer group): https://www.offergoblin.com/q/f2e4e77e-dd2b-4a3b-93f3-ed603bd17594 Moelis Technology — 1st Round, 2024 (enterprise or equity: sort the metrics): https://www.offergoblin.com/q/15c96dce-8813-46c0-921d-729916e05cf3 Guggenheim Generalist — 1st Round, 2025 (the broken multiple): https://www.offergoblin.com/q/1c372e55-2f09-488b-ab06-feaa60c71720 Homework — Citi, 1st Round, 2021 (build the multiple, explain the gap): https://www.offergoblin.com/q/05a28029-f8a6-421c-a523-3ad5be11059a The free guide to how bankers value companies: https://www.offergoblin.com/resources/valuation Practice 3,500+ reported IB interview questions: https://www.offergoblin.com/question-bank The OFFERGOBLIN technical series is hosted by Michael Neal, founder of OFFERGOBLIN and former Centerview banker. New episodes every Friday. Everything OFFERGOBLIN: https://linktr.ee/offergoblin Orange farm, apple farm: in the comp set or out? Make your case in the comments.

  7. 2 ago

    Enterprise Value vs Equity Value - The IB Interview Answer

    Enterprise value vs equity value, from zero. In 2009 GM's stock went to nothing while the business kept building cars — two price tags, one company. This episode of the OFFERGOBLIN technical series opens valuation. It opens on General Motors in 2009: the stock went to zero, and about five weeks later somebody bought the company anyway. How much do you pay for a company whose stock is worth nothing, and how were the factories still building Chevys the whole time? Same answer to both. From there it builds both numbers in plain English — what enterprise value actually buys, why noncontrolling interests are the line that makes it click, what market cap really represents, basic versus fully diluted shares, and the five-line bridge between them. One real Morgan Stanley question gets worked on air. QUESTIONS FROM THE EPISODE Morgan Stanley Generalist — Superday, 2024 (worked on air): https://www.offergoblin.com/q/4654b9e7-6988-4121-a8b3-2a73f5f758ca Bank of America Technology — 1st Round, 2024 (the bridge, with numbers): https://www.offergoblin.com/q/565c0726-d7dd-4bde-88b7-f93e004193b8 Lazard Technology — Superday, 2025 (the bridge, in their words): https://www.offergoblin.com/q/29f0b894-1380-46e4-8494-80d645a0b44e Citi Technology — Superday, 2022 (raising cash): https://www.offergoblin.com/q/9664ade9-3105-4461-ae44-26ff043478a8 Centerview Partners Technology — 1st Round, 2024 (debt-funded buyback): https://www.offergoblin.com/q/36b25ae5-8655-4c2d-9c7a-21f74a8623a3 Greenhill Generalist — 1st Round, 2025 (borrowing to buy an asset): https://www.offergoblin.com/q/3d875b85-028e-47e1-b2f4-b6988d3cc492 Goldman Sachs Generalist — 1st Round, 2023 (the corporate jet): https://www.offergoblin.com/q/15f2c725-b3ba-4ccd-bd59-e899c71f578d Homework — Moelis Technology, 1st Round, 2025 (fully diluted equity value): https://www.offergoblin.com/q/49ca1a1e-6207-4880-ae95-764b2e0637f1 Homework — J.P. Morgan Technology, Superday, 2024 (the bridge, run backwards): https://www.offergoblin.com/q/0fea8c25-bce3-4980-919f-40b61b5f59d8 The free enterprise value guide from the episode: https://www.offergoblin.com/resources/enterprise-value-ev Practice 3,500+ reported IB interview questions: https://www.offergoblin.com/question-bank CHAPTERS 0:00 GM, 2009: the stock went to zero, the company still got bought 0:40 Who I am, and what this episode covers 1:26 The two price tags 2:42 Equity value is the market cap 3:35 Basic vs fully diluted shares 4:55 Building enterprise value: the bridge 5:35 Noncontrolling interest and equity investments 6:34 Morgan Stanley question, worked 7:28 What actually moves enterprise value 9:19 Three traps 10:09 The answer, start to finish 10:48 Practice and close The OFFERGOBLIN technical series is hosted by Michael Neal, founder of OFFERGOBLIN and former Centerview banker. New episodes every Friday. Everything OFFERGOBLIN: https://linktr.ee/offergoblin Which line of the bridge still trips you up — noncontrolling interests or equity investments? Drop it in the comments.

  8. 24 lug

    You Will Get This Question at Your Superday.

    This episode of the OFFERGOBLIN technical series builds the three statements from zero: what each one actually tells you, how it is structured line by line, and the interview technique for each. The examples run on a company that builds and sells rockets, not a lemonade stand. Midway through, a real Jefferies Superday question gets worked on screen, and the episode closes with the linkage answer you are almost guaranteed to be asked. QUESTIONS FROM THE EPISODE Jefferies Technology — Superday, 2022 (worked on air): https://www.offergoblin.com/q/418f5d64-75a3-403c-a5d3-719b076a2ed3 The follow-up trap on that card — Bank of America Consumer, Superday, 2024: https://www.offergoblin.com/q/a4e412f5-af03-4fd2-93ec-070cf554f605 The closing question — Evercore Energy, 1st Round, 2026: https://www.offergoblin.com/q/16d214fe-172d-4826-9cbf-458d11a7f248 Practice card — Moelis Technology, 1st Round, 2025: https://www.offergoblin.com/q/487211eb-6bb0-4399-863e-ae8803e0289b Practice card — Evercore Technology, 1st Round, 2024: https://www.offergoblin.com/q/5390c1ee-f15a-4e02-b70e-99408700908e The free 3-statement guide from the episode: https://www.offergoblin.com/resources/3-statement Practice 3,500+ reported IB interview questions: https://www.offergoblin.com/question-bank CHAPTERS 00:00 The mock interview that got me cut 01:35 Who I am, and what this series is for 02:13 What this episode covers 02:43 What the three financial statements are 03:52 Income statement: is the business making money? 04:40 The four subtractions, revenue to net income 06:16 The trick for any income statement question 07:29 Cash flow statement: net income to actual cash 07:47 Operations: non-cash add-backs and working capital 08:43 Investing: the factory and CapEx 09:18 Financing: debt, investors, dividends 09:55 Real Jefferies Superday question, worked on screen 10:48 Balance sheet: assets, liabilities, equity 12:01 How the 3 statements link: the answer to have loaded 13:45 Practice and close The OFFERGOBLIN technical series is hosted by Michael Neal, founder of OFFERGOBLIN and former Centerview banker. New episodes every Friday. Everything OFFERGOBLIN: https://linktr.ee/offergoblin

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Descrizione

Coffee Chat is the investment banking recruiting podcast from OFFERGOBLIN. Each week, coaches Michael Neal and Ryan Tan break down exactly how to land the offer. We cover: Networking that actually worksTechnicals that show up in real interviewsA weekly temperature check on what we're hearing right now—across our clients, users, and the street Whether you're at a target school, fighting from a non-target, or switching careers, this is your playbook. Drawing on experience across Centerview, Wells Fargo, UChicago Booth, and Training The Street.

Informazioni

  • Creatore
    Michael Neal
  • Anni di attività
    2026
  • Puntate
    20
  • Classificazione
    Contenuti espliciti
  • Copyright
    © 2026 Michael Neal
  • Fornitore