Platinum Asset Management Internship FAIL & WIN!?

I apologise beforehand as I write this post in the early hours of the morning before sleep. I was reflecting on my Platinum Asset Management Internship phone interview in bed (which occurred around 7/17, bit naive of me to even apply) and figured even though I didn’t get it, everything I said was correct. Well, sort of.

So this may help some of you that are considering doing a similar internship in the future, with the application process at least. I’m just going to go over the questions that I remember, my answers and the result.

I did elaborate on my answers in the interview when asked. Just not going through the chore to do it here.

Questions are in randomised order:

• Not including basic interview questions that are usually asked with any job application. Also not including questions asked about the businesses history/ceo as they are expected.

Q.1 Who is the leader of China? Xi Jingping.

Straight forward, may have pronounced his name wrong multiple times by adding a ‘g’ mid name but hey.

Q.2 What is the current AUD to USD exchange rate? 0.76 (or whatever the actual value was then).

I got this correct as I just checked the day previous. I usually check every 2nd day or so. Phew.

Q.3 In which direction do you think this is going to go? Down.

I guess we’re not deep enough to have a clear result.

Q.4 In which direction do you think the Australian interest rate will go? It will stay stagnant for a while, but if I were to choose in which direction it will go after this period of stagnation, it would be down.

So far I’m correct considering its still is where it was. Still think its going to go down next.

Q.5 Where do you think the Australian housing market will go in the future? Down.

Now this question didn’t come out of no where, it was somehow led to this which I don’t remember how. I guess I’m somewhat correct considering the slow downturn occurring in Melbourne and Sydney.

Q.6 What companies are you currently invested in? A2M & ASX.

Holy shit did I get this correct. Since then A2M has risen around 300% in price with ACX increasing around 100%.

Q.7 Where are the opportunities for future growth for A2M? But ACX is at an all time low, why do you think that?

So for A2M I talked about global growth, growing product range and improving margins. The interviewer did get very specific about the forecasting I included with my application. I did get a little lost, I guess I lacked some conviction when he asked specific questions about my forecasting for A2M.

For ACX I said it was due to negative investor sentiment and that it is undervalued. Argh, a bit broad. I didn’t state specific reasons why. Nonetheless.

Q.8 What is 0.7 * 0.7? Ugh… hmm… (me tempted to use my computer calculator but my keyboard is too loud) ugh… 0… point 4..2?

Holy shit I royally fucked up here, this question is ingrained in my brain for the rest of my life. I’m an expert in multiplications. I was always the first kid that finished the 12 x 12 multiplication table race in class (even though I often cheated by having a head start of 3 calculations or so before the timer started). Especially my x7 multiplications, its my favourite number. I know 7 * 7 is 49 and 7 * 6 is 42.

That isn’t the issue.

The issue was I never knew that when multiplying decimals like that the answer is the same, except with a decimal point in front. Holy fuck, how did I miss something so basic throughout my education. Now I could answer that answer 10x over without thinking, a simple maths concept I learned in those 10 seconds of failing. I guess I’m a calculator/computer baby.

Overall it probably wasn’t the sole reason why I wasn’t accepted but it did stick with me the most. But hey, I’m surprised I got mostly everything else right, especially the predictions.