The SuMarket Blog
Guides and notes on going from headlines you skim to markets you understand.
Investment banking interview technicals: what actually gets asked
The recurring technical questions across first rounds and superdays — the three-statement linkage, enterprise value, accretion/dilution and LBO returns — with the answers interviewers are listening for.
How a DCF actually works, step by step
"Walk me through a DCF" is the most reliably asked question in banking recruiting. Unlevered free cash flow, WACC, terminal value and the equity bridge — the whole thing, in the order you should say it.
What is EBITDA — and what it hides
Both ways to calculate it, why it pairs with enterprise value, why capital-intensive businesses make it misleading, and how to read an adjusted EBITDA reconciliation sceptically.
IB vs PE vs consulting vs PWM: choosing a path honestly
What you actually do daily in each, when you can enter, what hours to expect, and what each opens next — plus three questions that discriminate better than prestige does.
How to use SuMarket
A quick visual tour of the app — read a plain-English market briefing, learn with AI study tools, build a glossary that sticks, and track the markets that matter to you.