My First Posting: Why Mongolia??

After graduating from university last May I decided to take the daring step into the world of finance by doing a 6 month internship at a Private Bank in the West End of London. I say daring because I have never been one gifted with numbers and linear left-brain thinking. That kid sitting staring out the window cloud watching in Trigonometry? that was me. But so with some successful bum steer from the family I decided to give being a "banker" a try. I learned a great deal in those 6 spiritualizing months working at the bank, including the fact that I never want to work in the industry again. However I must be honest and say that I met some hard working successful people who are really good at what they do. More so, I did learn a good amount of financial jargon and how the banking organisation and investment process is structured. Though I would do it again, I am thankful for this experience.

Two months into my internship my grandfather (a 90 year old investor and a financial and geopolitical enthusiast who has not retired, reads ungodly amounts, and has abs and legs harder than mine will ever be from his ritual 7am daily swim) started repeatedly emailing and calling me telling me about what was happening in Mongolia. Since childhood I have received countless news clippings from him and at times its been hard to keep up as his fascination and understanding of the global arena is so strong. But this time, after weeks of phone calls, voice messages and emails directing me to dozens of articles strictly concerning developments in Mongolia I decided to give it more than just a glance. I dove in. During my hours of "free time" at work when none of the bankers had anything for me to work on I begun my research. I read countless articles and reports from investment banks and financial newspapers and journals across the world and soon found myself seriously interested.

After about two weeks my boss happened to be walking by and glancing over my shoulder humorously said, "What's all of this about Mongolia? I've noticed you've been reading quite a bit about it recently." 

A bit embarrassed and unsure the reason why I replied by saying, "Oh it's nothing really... it's just um... something I'm looking at!" 

"Why don't you give the investment managers a brief in next weeks markets review meeting?" 

Hearing the sarcasm in his voice I found myself slightly offended. Trying to defend my initial sheepish reaction I without realising it said, "Sure, I'll put together a presentation!" He was not expecting this response and as walked away seemingly dumbfounded. I smiled to myself as I confidently leaned back in my chair, quickly to start panicking 5 seconds later once I realised what I just committed to.

I put in some serious hours that next week. It was the first time in my life I was seriously researching something so academic yet not related to any school project. I put together a mean presentation and after 6 days was ready to give my presentation to the 20 investment managers. It was short, but straight to the point and after I was congratulated by everyone on my team. The word got around the office quick and soon I had people I didn't know asking about Mongolia.


Right before giving the presentation I asked a coworker/friend to review it. After doing so he said, "Well Avo, the truth is that it's totally useless for us that you are giving this presentation. Not useless because its a poor presentation, rather because we will never invest in such a frontier market as Mongolia; it's kind of against our house view." I can only hope that one day the bank may change their house views and start offering more options in riskier investment opportunities for some of their more adventurous clients. I was the first intern to give a presentation in the history of the bank.