Sales & Trading vs Investment Banking: Pay, Paths, and Exits
The core distinction is structural, not cultural. Sales and trading generates revenue through market activity, position-taking, and client order flow.
Knowledge Base
Lee Anderson writes about tax strategy, estate planning, and wealth management for FatFire, covering the questions that matter to high-net-worth households pursuing financial independence. Every article draws on primary sources including IRS guidance, fund prospectuses, and academic research, and is reviewed against the FatFire editorial standards (fatfire.com/editorial-standards/) before publication.
516 articles — page 22 of 43
The core distinction is structural, not cultural. Sales and trading generates revenue through market activity, position-taking, and client order flow.
Berkshire Hathaway is not a private equity firm. Calling it one is the most common misunderstanding in conversations about Berkshire private equity.
Back leverage in private equity is fund-level borrowing secured against the net asset value of an existing portfolio, rather than against the assets of any individual portfolio company.
Singapore-based private equity and venture capital managers held SGD 5 trillion in assets under management as of 2023, according to the Monetary Authority of Singapore.
Greystar private equity sits at the intersection of institutional-scale capital and vertically integrated operations.
The MSCI EAFE vs S&P 500 chart is one of the most instructive visuals in global investing, and most people read it wrong.
Oral surgery private equity activity has accelerated sharply over the past decade, and the economics explain why.
NAV in private equity is the fund's total asset value minus its liabilities, divided by outstanding LP units. That formula is simple. What sits inside it is not.
A private equity pitch deck PDF serves one purpose: give a sophisticated allocator enough signal to justify a second meeting.
PCAP, short for Partner's Capital Account, is the ledger record that tracks each partner's economic interest in a private equity fund from first close to final distribution.
The private equity deal process runs from sourcing to close in roughly 3 to 9 months, depending on deal complexity, competition, and regulatory requirements.
Sidecar private equity is a co-investment structure where an investor commits capital to a specific deal or dedicated vehicle alongside an established general partner, outside the main fund.