Patrick Boyle

In today’s video we are going to discuss how to find a job in finance in 2020 and particularly how to find a job in finance during difficult times like during the coronavirus pandemic. What to expect when looking for a job during coronavirus.

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patricks’ Books:
Derivatives: https://amzn.to/2yOdRoN
Corporate Finance: https://amzn.to/2T56Syu
Statistics for Traders https://amzn.to/3dUv8vn

The US economy has shrunk almost 5% in the first quarter of 2020, many experts are predicting the worst economic recession "in our lifetime."
The Bank of England is predicting the worst economic slowdown in 300 years. Right now, 33 million US workers are unemployed
So, times are hard, or at least harder than normal, but that should in no way deter you. These jobs are always hard to find

It usually takes 3 - 6 months to find a good job
In difficult times you just must double your efforts
Many of your competitors will feel discouraged and give up – you don’t have to.

This job hunt will not be fun, but by the end of it you will have built an amazing skillset and be so much more resilient than before.
You have a full-time job right now, and that job is the job hunt
You are a salesperson! You will find that you will be selling for your entire career.

The seven key steps in your job hunt:
1. Inventory your skills and work out how they could be useful to a variety of employers
2. Build a high quality cv, have friends check it, eliminate buzzwords and management speak
3. Create a list of firms you could apply for. There are lots of great firms that you just haven’t heard of.
4. Read the financial press, look for firms that are growing or expanding. They should be high on your list.
5. For phone interviews, use “cheat sheets”
6. Apply online to all the big firms
7. Find an exhaustive list of big firms on Wikipedia.
8. Seek Internships and full-time jobs

That is the easy stuff out of the way.
You need to set goals, the goals need to be short term and achievable. You need to break complex tasks down to their simple components. What is the first step?
Step 1: get a meeting.
Step 2: Then lots of meetings.
Build a written plan, judge yourself against it be systematic
Set short term goals 1-5-day goals

Find jobs that have not yet been advertised
Contact real people not companies

Have a spreadsheet or word file where you keep detailed notes of your meetings.
Judge your progress by the results you see, not by the number of applications
The job hunt is a numbers game, the moor meetings you get the better your odds are.
Prepare for an interview with a friend
Search online for how the interview process works at the firms you are applying to. Find the typical questions
Research the firm and the people interviewing you
Prepare for well-known interview questions, prepare genuine good answers.
Keep searching right up until the moment you have signed an employment contract – don’t slow down just because you had a good interview
The harder you work at your job-hunt the more likely you are to be successful.

Learn more about your ad choices. Visit megaphone.fm/adchoices

All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

Applied Portfolio Management - How Hedge Funds Invest.

In todays class we learn what a hedge fund is, we learn why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio. We will talk about a number of hedge fund strategies such as long-short equity or market neutral, convertible bond arbitrage, fixed income arbitrage, macro investing, managed futures or CTA's volatility arbitrage and capital structure arbitrage. We will learn how these strategies work, and what the returns look like. Tune in to tomorrows video to learn about more hedge fund strategies.

Books mentioned in todays video:
When Genius failed by Roger Lowenstein https://amzn.to/2WZt28h


Buy Patrick's Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

Sign up for Compounded Daily at this link: https://www.compoundeddaily.com/

Today in a podcast style episode I welcome my friend Adam Robinson who has had possibly the most interesting career of anyone I know. He was a teenage Chess prodigy who trained with Bobby Fischer as Fischer prepared to play Boris Spassky for the 1972 world championship – in what has gone on to be known as The Match of The Century. He was an undergrad at The Wharton School at the University of Pennsylvania and later earned a law degree at Oxford University. He cracked the SAT and other standardized tests launching the Princeton Review Company – which he later sold. Adam is an Artificial Intelligence pioneer, a quantitative trader, a New York Times best-selling author, and an all-round master of strategy. His company Robinson Global Strategies provides macro research to some of the world’s most successful hedge funds. Adam's newest book How Not to be Stupid is one of the very few books to be endorsed by Warren Buffett.

Follow Adam on Twitter: https://x.com/iamadamrobinson
Adam Robinson on Amazon: https://amzn.to/4cAXPv3

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ [email protected]

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

Which Country is Spending The Most on their COVID-19 Bailout?
Paper by Professor Ceyhun Elgin http://web.boun.edu.tr/elgin/COVID_19.pdf

Buy Patrick's Book Here: https://amzn.to/2J2kF3A
Visit our website: http://onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

According to the IMF, by early April countries around the world have approved more than $4.5tn worth of emergency measures. That number has only grown since. In todays video, lets learn which country has the most generous deal and the different approaches they are taking

Professor Elgin of Columbia University recently published a paper titled Economic Policy Responses to a Pandemic where he reviews the different economic policy measures adopted by 166 different countries as a response to the COVID-19 pandemic. He then constructs an Economic Stimulus Index that combines all of the adopted policy measures. In addition, he analyzes how hard-hit various countries were by the pandemic and how that affects the extent of the countries’ economic policy responses. I’ll put a link to his paper in the description below.
Japan's response to the pandemic has been among the most aggressive, with a spending package estimated at around 20% of the country's economy. (It is topped only by Malta, which benefits from European Union funds.)

That compares to rescue spending estimated at roughly 14% of GDP in the US, 11% in Australia, 8.4% in Canada, 5% in the UK, 1.5% in Colombia and 0.6% in Gambia.

That ranking changes significantly if measures beyond spending, such as central bank actions, are considered.

In the biggest European countries, government pledges to guarantee new loans provided to businesses hurt by the shutdowns has accounted for a major part of the response. This is put in place to keep banks lending preventing widespread bankruptcies.

In the United States the Federal Reserve has stepped in with lending programmes with a similar aim.

When we factor in those kinds of actions, France is at the top of the pack in terms of generosity and the UK is now in fifth place, rather than 47th place.

Dr. Elgin shows that the biggest responses have occurred in countries that are richer, older - and have fewer hospital beds. Countries like the US and Japan are in a better position to finance new spending, due to investor willingness to buy their bonds, which keeps the interest cost of this spending lower.

Dr. Elgin notes that that the various countries are deploying these funds quite differently.

In many countries, the aid is targeted at the poor and to those less likely to get assistance through other programmes. Many are conditioned on a person's job or income having been affected by shutdowns.
Canada, is providing CAD 2,000 ($1,400) per month for up to four months to those who have lost income due to the pandemic.

All Americans earning under $99,000 are to receive as much as $1,200 per adult, while South Korea's central government is sending cheques of up to 1 million won ( $820) to families in the bottom 70% income bracket.
Hong Kong,Japan and Singapore are all pursuing similar strategies mailing cheques to working age citizens.

In Europe, many countries have opted against one-off bonuses and are relying instead on the existing safety net programmes, like the UK's Universal Credit system, to meet the needs of those who have lost their jobs.

A common strategy globally has been government programmes that help cover payrolls for companies suffering from lockdown measures. The idea is that if firms retain staff, this will allow the economy bounce back more quickly once the restrictions are lifted as companies will not have to re hire and retrain staff.

The US, has taken a different approach, dedicating more than $650bn to business loans, which do not have to be repaid if firms maintain staffing levels and spend the majority of the funds on wages w

Learn more about your ad choices. Visit megaphone.fm/adchoices

What Are Financial Derivatives?
A Video Explaining what financial derivatives are, who trades them and why?

Follow along using the book https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

In this video we will learn who issues derivatives, are they a zero sum game and what are the various underlyings. We will learn a little bit about futures options swaps, credit derivatives etc. We will learn the difference between hedgers and speculators

Follow me on Twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

Secure your privacy with Surfshark! Enter coupon code BOYLE for 4 months EXTRA at https://surfshark.com/boyle

In recent years, a number of companies have been caught claiming to use artificial intelligence while in reality, outsourcing this work to humans. The SEC recently settled with two funds who were misleading investors about their use of the technology. While artificial intelligence has been widely used in industry for decades, not all companies have been truthful with their claims of AI breakthroughs.
In today's video we discuss to what extent have big firms been faking AI?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Further Reading:
The Turk: The Life and Times of the Famous Eighteenth-Century Chess-Playing Machine by Tom Standage: https://amzn.to/3X3C5lV

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ [email protected]

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

In todays video we will learn all about Exotic Options.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What Are Exotic Options?

In finance, an exotic option is an option which has features making it more complex than commonly traded vanilla options. Like the more general exotic derivatives they may have several triggers relating to determination of payoff. An exotic option may also include non-standard underlying instrument, developed for a particular client or for a particular market. Exotic options are more complex than options that trade on an exchange, and are generally traded over the counter (OTC).

Look-Back Options
Look-back options give their owners the right to buy or sell the underlying security at the most attractive price that it actually trades in the cash market over a specified period of time. This time period is typically - but not always - the same time frame as the option's life.

Binary Options
Binary options (also known as digitals) have a fixed payoff if the option ends up being in the money at expiration, regardless of the extent to which it is in the money.

Bermudan Options
Bermudan options are a hybrid between American and European options. Unlike American options (which can be exercised at any time during a specified period) and European options (which can be exercised only at maturity), Bermuda options may be exercised prior to maturity, but only on certain dates.

Barrier Options
Barrier options are options that are either activated or deactivated when the price of the underlying security passes through some predefined value (the barrier). Barrier options have eight different varieties:

Up and in call - a call option that's activated if the price of the underlying rises above a certain price level.
Up and out call - a call option that's deactivated if the price of the underlying rises above a certain price level.
Down and in call - a call option that's activated if the price of the underlying falls below a certain price level.
Down and out call - a call option that's deactivated if the price of the underlying falls below a certain price level.
Up and in put - a put option that's activated if the price of the underlying rises above a certain price level.
Up and out put - a put option that's deactivated if the price of the underlying rises above a certain price level.
Down and in put - a put option that's activated if the price of the underlying falls below a certain price level.
Down and out put - a put option that's deactivated if the price of the underlying falls below a certain price level.

Restrike Options
The strike price of these changes if the price of the underlying passes through a barrier price. They're typically written so that the strike price of calls is lowered and the strike price of puts is raised.

Asian Options
Asian options are very similar to look-backs, with the exception that while look-backs are based on the highest or lowest price over a period of time, Asians are based on an average price. These options can be divided into two categories: Asian strike options and Asian expiration options.

Compound Options
Compound options provide their owners with the right to buy or sell another option. These options create positions with greater leverage than traditional options. There are four basic types of compound options:
Ca-call - the right to buy a call.
Pu-call - the right to sell a call.
Ca-put - the right to buy a put.
Pu-put - the right to sell a put.

Perpetual Zero Options
As the name implies, perpetual zero options never expire, and they have a strike price equal to zero. The perpetual right to buy an underlying security at a price of zero has the same val

Learn more about your ad choices. Visit megaphone.fm/adchoices

Order Types Used by Traders and Investors - Market Order - Limit Orders - Stop Orders

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

If you are buying or selling financial products, when you use a market order, you are essentially just requesting the transaction to go through at the next available price.

Limit orders are another order type but they limit the price at which the stock is bought or sold. You can place a limit order so that it will buy below a set price or sell above a set price. The main downside of a limit order is that the trade may not go through if the price never gets to the limit you have set. You therefore need to keep on top of your limit orders to ensure it does get bought or sold.

The stop order orders the purchase or sale of a stock once it’s reached a certain price.

Buy stop orders are put above the current market price and a sell stop order below the current price, with the potential benefit of reducing your loss or protecting your profits.

You can also use a stop limit order, which releases a limit order once the stop price has been triggered.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off

Are Britain’s millionaires really fleeing the country—or is the “exodus” just a statistical mirage?

This video digs into the numbers behind the headlines, from the much-quoted Henley & Partners migration report to the real impact of the UK’s non-dom reforms. We’ll look at what’s actually driving high earners to consider leaving, how tax policy shapes behavior, and why trust in government and value for money matter just as much as the top rate.

Along the way, we’ll separate myth from reality, compare the UK’s approach to countries like Sweden and Switzerland, and ask what history can teach us about taxing globally mobile wealth.

If you want to understand the real story behind the millionaire migration debate—and what it means for Britain’s future—watch now.

Further reading:

Tax Policy Associates - Why the rich paid less tax in the 1970s – despite 98% tax rates: https://taxpolicy.org.uk/2025/05/08/tax-rich-1970s-loopholes/
Tax Policy Associates - Are Henley & Partners’ millionaire‑migration reports fabricated?: https://taxpolicy.org.uk/2025/07/27/henley-partners-millionaire-migration-report-analysis/

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ [email protected]

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

What is a Forward Contract?
In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices