Monday, April 30, 2012

Make a Difference - Wisconsin. 4th Annual Investment Conference: May 9, 2012

The CFA Society of Milwaukee is proud to sponsor the 4th AnnualMake A Difference - Wisconsin Investment Conference.  This is a must-attend event for CFAs and we're excited to see another impressive line-up of speakers.  

The keynote speaker will be Jim Chanos, President and Founder of Kynikos Associates, the largest investment firm devoted exclusively to short selling.  Throughout his career, he anticipated many corporation disasters, including Boston Chicken, Sunbeam, Tyco International; and most famously, his ENRON short -- which Barron's called "the market call of the decade, if not the past fifty years."         

All proceeds from this conference benefit financial literacy education for area youth through Make A Difference - Wisconsin.  The CFA Society of Milwaukee is proud to partner with this wonderful organization!

Final Round of AIM Equity Presentations to be Held in AIM Room on Friday, May 1st at 10 am

AIM Equity Presentations on Friday, May 1st
10:00 am (AIM  Room)
Student Presenter
Company Name
Kobe Park
Barclays PLC ADR
Intl Financial Services
Atena Liu
Intl Information Technology
Timothy Maturo
Robbins & Myers Inc.
Varun Varma
Assured Guaranty Ltd.
Intl Financial Services

The write-ups will be posted on Tuesday, May 1st at:

Sunday, April 29, 2012

The AIM Class of 2012 enters their last week of classes

Dr. Mark Eppli was a guest this past week in Dr. Krause’s Alternative Investment course

This week, Dr. Mark Eppli, Professor of Finance and the Robert B. Bell, Sr., Chair in Real Estate at Marquette University, guest lectured in Dr. David Krause’s Alternative Investments course.  Krause said, “It was a pleasure having Dr. Eppli join us for three lectures on real estate as an alternative investment class. He is truly among the most knowledgeable in the nation on this topic.”

Krause continued, “Mark did a very thorough job discussing the advantages and disadvantages of real estate investment. He went into detail describing the characteristics of real estate investments.  Besides going in depth with the financial mechanics of multi-family unit and commercial real estate investment, he also covered portfolio related topics (i.e. low volatility, liquidity, pricing, leverage and tax implications). He also worked through monthly and annual pro forma cash flow models.”

“Dr. Eppli also discussed some of the disadvantages of real estate investing which include high minimum initial cost, low liquidity, and the complexity of evaluating each individual investment,” Krause added. “I really appreciate Mark’s time – and I know the students benefited greatly. He’s always a student favorite in the classroom.”

Mark Eppli is a Professor of Finance and the Bell Chair in Real Estate at Marquette University. Professor Eppli is widely published in a range of commercial real estate topics and is coauthor of the bestselling real estate development text in the nation. Prior to obtaining his doctorate, he worked in commercial real estate for PM Realty Advisors and GE Capital. He has served as a consultant to a number of finance, real estate, and government entities. Professor Eppli received awards from Greater Washington Urban League and the Urban Land Institute for his efforts to attract minorities to the real estate profession. In January 2012, Professor Eppli was appointed independent board member for the Federal Home Loan Bank of Chicago. He holds a Ph.D. from the University of Wisconsin, in Real Estate and Urban Land Economics.

Hi professional interests include shopping center economics, single-family house pricing, commercial mortgage default, new urbanism, smart growth, and commercial real estate development.

He has been widely published including his text: Real Estate Development: Principles and Process, fourth edition, Washington, DC: Urban Land Institute (2007), coauthors Mike E. Miles, Gayle L. Berens, and Marc A. Weiss; and Valuing the New Urbanism, Washington, DC: Urban Land Institute (1999), co-author Charles C. Tu.

Mark was a Research Fellow with the Urban Land Institute from  2004-2010. A board member with the Real Estate Research Institute from 2005-present. He is also a current board member of the Local Initiatives Support Corporation – Milwaukee. 

Dr. Krause concluded, "Mark Eppli is a special professor within the College of Business. We are very fortunate to have him at Marquette. Thanks, Mark, the students and I appreciate your knowledge and insights."

Bill Stone, 2012 College of Business Administration Recipient of the Entrepreneurial Award, Attended the AIM Equity Presentations on Friday, April 27

Each spring, Marquette University sets aside one special weekend to honor distinguished alumni from every college and school who represent the heart, soul and spirit of Marquette. Hundreds of alumni and guests come to campus for a series of celebrations regaling our Alumni National Award recipients — a chance to hear their stories and how they are making a difference in the lives of others.

On Friday, April 27, the College of Business Administration and Graduate School of Management held its annual Alumni Awards Reception and Luncheon at the Alumni Memorial Union. There were six award winners, including William Stone (BUS AD '77), who was the 2012 recipient of the COBA Entrepreneurial Award.

Following the luncheon and a visit with Marquette President Father Pilarz, Mr. Stone visited Dr. David Krause and the AIM students. He attended the equity presentations in the AIM Room where he heard three stock pitches from students in the Class of 2013.

Bill Stone founded SS&C Technologies (ticker: SSNC) in 1986 and has since led the company through the acquisition of 33 software firms. Today, SS&C employs more than 1,500 people in Asia, Australia, Europe and North America. The firm is headquartered in Windsor, Connecticut.

SS&C is a leader in the delivery of investment and financial management software and related services focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. 5,000 financial services organizations, from the world's largest to local financial services organizations, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $16 trillion in assets.

Bill’s favorite quote is from Abraham Lincoln which helped defined his life: “Whatever you are, be a good one." Bill continued, “Running a financial services software and services company provides an environment where everything that happens in the world affects the company or our clients." As the chief executive officer and chairman of the board of directors, Mr. Stone elaborated "My work is intellectually stimulating and financially rewarding.”

In 1996, SS&C raised capital in an Initial Public Offering and was acquired by entities affiliated with the Carlyle Group in 2005. In 2010, the company again went public and now trades under the symbol SSNC on NASDAQ.  “My primary focus is to position SS&C in a global environment,” Bill says. And though his eyes are set on the global market, his heart holds the lessons his father taught him. “My father taught me to have discipline, energy, brains and ability, he says. “Because those were all traits he had in abundance.”

Bill has made a life of taking after his father. Today he holds — or has held — National Association of Securities Dealers securities series licenses 6, 7, 8 and 22. He was a New York Stock Exchange and Municipal Securities Rulemaking Board principal and an associated person with the Commodity Futures Trading Commission. Additionally, he has served on the boards of the University of Connecticut School of Business and University of Connecticut Foundation.

SS&C Technologies just achieved its 25th anniversary since its 1986 founding. Listen to interviews with Bill Stone.

In addition to seeking professional excellence, Bill is also a philanthropist and supporter of the arts. His company operates SS&C SummerWind, a performing arts amphitheater based in Windsor, Conn., for which Bill is a major benefactor.

I’ve seen the trials and tribulations of contracting major musical acts,” he says. “As well, I’ve watched the vagaries of fundraising and experienced the joy of sitting in the prime seats on a beautiful Connecticut evening to enjoy wonderful musicians.”

Fun facts about Bill:
  • Hometown: Evansville, Ind.
  • Someone alive or dead he’d like to have dinner with: Ronald Reagan
  • The Marquette faculty member who had an impact on Bill: Rev. Roland Teske, S.J.
  • Favorite Marquette memory: “Being at the Omni in 1977 when Al McGuire walked out on the floor for the national championship game.” 
  • In grade school, Bill wanted to be a pro football player. 
  • Most influential person in Bill’s life: His father.

Saturday, April 28, 2012

Friday's AIM Equity Presentations

Catie Collins pitches Elan Corporation ADR 

AIM Equity Presentations on Friday, April 27
Student Presenter Company Name Ticker Sector
Eric Gomach Potash Corporation of Saskatchewan POT Intl Basic Materials
Peter Lemek  Blackbaud, Incorporated BLKB Information Technology
Patrick Maag American Public Education, Inc. APEI Consumer Discretionary
Michael Schwoerer Administradora de Fondos de Pensiones Provida PVD Intl Financial Services
Catie Collins Elan Corporation plc ADR ELN  Intl Healthcare 
Sam Sladky LAN Airlines S.A. LFL Intl Industrials

The Class of 2012 AIM Student-Managed Funds Annual Report

The Class of 2012 AIM Student-Managed Funds Annual Report is now available on the AIM web site or at the following link: 2011-2012 AIM Fund Annual Report.

The students will present the performance results of the AIM Small Cap Equity and International Equity Funds on Wednesday, May 2 and the AIM Fixed Income Fund on Friday, May 4.

  •          Location:  Marquette University in the College of Business Administration Straz Hall, 606 N 13th Street in the AIM Research Room 488, 4th Floor

  • Wednesday, May 2nd 11 to 11:50 a.m.
  • Presentation of the AIM Small Cap and International Equity Fund 
  • Friday, May 4th 11 to 11:50 a.m.
  • Presentation of the AIM Fixed Income Fund

Follow the link this for a pdf of the 2012Annual Report.

Thursday, April 26, 2012

Attention: Freshmen and Sophomores interested in the AIM program (Open House 4/27/2012)

AIM Student Semester Equity Presentations and Open House for Freshmen and Sophomores interested in the AIM program.

We have scheduled an Open House just for you from 2:00-2:15 pm and encourage you to stay for 3 AIM student presentations  OR you can come from 3:00-3:15 pm and stay for the final 3 presentations.

Meeting Agenda:
  • Open House:  2:00 p.m.
  • Equity Presentations:  2:15 to 3:00 p.m. 
  • Open House:  3:00-3:15 p.m.
  • Equity Presentations:  3:15 to 4:00 p.m.

This is a great opportunity for you to talk to Dr. Krause and current AIM students about the program, including the application process.  

Also, FMA students will be there to answer your questions on the New York trip next fall.  Now is the time to sign-up for that trip.

FMA Trip to NYC

The New York Trip gives Marquette Business students the unique opportunity to look behind the scenes of the banks and financial institutions that make up Wall Street.  The trip is a fast-paced, four days full of bank visits, networking, and eating out of food carts.  In years past, students have had the opportunity to visit institutions including Morgan Stanley, JP Morgan, and Citi.  They’ve had the opportunity to tour through the trading floors of different banks and boutiques including Deutche Bank and Susquehanna Bank. 

All in all, students that have attended the trip said that the cost was a drop in the bucket compared to the experiences that they gained while in New York – plus if they could choose between fall break in New York or at their parent’s house… most would choose New York.  
AIM Open House Location:
Marquette University, College of Business Administration, Straz Hall, 606 N 13th Street in the AIM Research Room 488, 4th Floor
(pdf directions to AIM Room)

The final AIM Class of 2013 Student Equity presentation will be In-House on Friday, May 4th.

Wednesday, April 25, 2012

AIM Class of 2012 Picture

Recent AIM Visitors and Activities in April

April has been an active month for students in the AIM program. Sour activities include:
  • Five AIM students advanced to the semi-final round of the CFA Investment Research Challenge in New York City.
  • Over 20 Marquette alumni in New York City hosted a gathering with Dr. Krause and the AIM CFA Challenge team following their presentation.
  • Matt Rose (MU AIM ’08, Alpha Investment Consulting) and Brady Endl (MU MBA ’11, Marquette University) were guests in Dr. Krause's Alternative Investments class where they discussed hedge fund investing.
  • Six AIM alumni visited Marquette's campus and participated in Dr. Krause's Alternative Investment and AIM classes.
  • Five AIM students presented their equity recommendations at Geneva Capital Management.
  • 26 Marquette alumni had dinner with COBA Dean Linda Salchenberger and Dr. Krause at Joey Buona’s Restaurant.
  • The 5th annual Ins and Outs of Wall Street was again successful (see article above).
  •      88 undergraduate students attended
  •      32 Marquette alumni presented at the event
  •      9 Marquette administrators and faculty attended the    day-long event
  • An AIM impromptu event after the Ins and Outs of Wall Street held at a campus watering hole attracted over 50 Marquette alumni and current AIM students.
  • Jason Rector (AIM '09) spoke to Dr. Krause's Alternative Investments and AIM classes.
  • Five students presented their equity recommendations at Timpani Capital Management.
  • Six students pitched stocks in the AIM Room and an open house was held for the freshmen and sophomores interested in the program.

Dr. Krause, AIM director commented, "This has been an amazing past couple of weeks. It is truly incredible to see the growth of the Marquette finance alumni network the past several years. In the New York area alone we've seen a group of 8 Marquette alumni in 2005 grow to over 150 today. It is hard to thank each and every alumnus, but everyone associated with the AIM program and the finance alumni network should be pleased with the successes we've achieved. Thank you all." 

AIM Students Again Go on the Road to Pitch Stocks

The newest class of AIM students are completing their first equity research projects and are going on ‘road shows’ in March and April to pitch their stocks. Since spring break three of the six sets of AIM equity presentations will be held away from the Marquette campus and in the offices of investment companies.  In a previous newsletter we reported about the Chicago road trip that was held in March. Since then five AIM students and Dr. Krause visited Geneva Capital Management on April 13, where they pitched their recommendations before Bill Priebe, Michelle Picard, Scott Priebe, Jose Munoz (MU AIM ’11), Nicholas Bauer, Derek Pawlak (MU), and Katie Immel. The AIM students who presented at Geneva Capital Management were Brent Adams, Greg Trunk, Jillian Morrissey, Kobe Park, and Steve Demogerontas. 

“The session at Geneva Capital Management was another valuable applied learning experience for our students,” said Dr. David Krause, AIM program director. “The professionals knew our stocks and asked many insightful questions. They also helped the students with useful research and presentation suggestions. Visits like this reinforce the ‘applied’ element of the AIM program. And we’ll continue to go on the road on Friday afternoons to present stocks to investment professionals. The students and I enjoy these opportunities."

On Friday, April 20th, five more AIM students presented their equity recommendations at Timpani Capital Management. The AIM students who presented their stocks were Taylor Nordmark, Dan Tallarico, Elizabeth Buckton, David Maio, and Mark McCanna. Dr. Krause said, “This marks the fourth year we have visited Timpani Capital Management. During each of the previous 'road shows' the students have received excellent feedback from the professionals at Timpani, which is located in northwest Milwaukee.” 

Timpani’s mutual fund offering is the Frontegra Timpani Small Cap Growth Fund (Ticker: FTSGX).  Dr. Krause, AIM program director added, "Timpani focuses on small cap stocks and employs an investment philosophy and approach very similar to that followed in the AIM program. The questions that Brandon Nelson, Ryan Isherwood, and Mike Klenn (MU AIM ’10) ask our students are always useful and help our students improve their research skills. We always enjoy the opportunity to visit Timpani Capital Management."

Dr. Krause stated, “On behalf of the students in the AIM program, we want to thank all of the companies that have hosted our ‘road trips’ the past several years. All of the student presenters agree about the benefits of these types of interactions. The questions and insights of investment professionals are highly beneficial and serve as an important element in the AIM program. What the AIM students learn in these interactions can't be found in text books - it can only be obtained by working with people experienced in security analysis.”

There will be two more sets of presentations that will be held this semester – these will be in the AIM Room on April 27th and May 4th. These presentations regularly are attended by investment professionals and Marquette’s finance and accounting faculty. More details about the events will be posted on the AIM blog at:

Tuesday, April 24, 2012

Dr. Krause was a guest on Chicago's WBBM Noon Business Hour

Dr. David Krause, Marquette's AIM program director, was a guest on Chicago's WBBM Noon Business Hour with  Join Kris Kridel and Regine Schlesinger. They discussed the economy and current financial markets trends. 

The program can be heard at the WBBM link above and the interview with Dr. Krause begins at 15:00.

 He discussed the "risk on / risk off" nature of the current markets along with the renewed discussion about the European financial situation. Additionally he addressed questions about the Federal Reserve's current meetings and the likely impact the upcoming French election might have on the European and U.S. financial markets.

The Fifth Annual “Ins and Outs of Wall Street” Event was Held on April 14th

On Saturday, April 14th, Marquette University's Applied Investment Management program and the Finance Alumni Network sponsored the fifth annual "Ins and Outs of Wall Street.” The event has grown significantly since the first forum was held in the spring of 2008, when eight alumni led by Dan Williams prepared a presentation for students interested in careers on Wall Street. Through this year’s event we have had over 60 Marquette alumni participate to some degree with the first five Ins and Outs events.

This annual event provides an opportunity for our finance alumni to share their personal experiences, including the best ways to prepare for "Wall Street" interviews and how to grow a career in the current competitive financial environment. Alumni from companies such as R.W. Baird, Bank of America, Citigroup, JP Morgan, Morgan Stanley, Gates Foundation and Wells Capital Management participated in the event.
This year there were 32 Marquette alumni on campus to participate in the Ins and Outs event, which included nearly 100 Marquette students and faculty – bringing the total to almost 400 students that have experienced the Ins and Outs of Wall Street event over the past five years.
Dr. David Krause, AIM program director said, "This has grown into an important event for the freshmen and sophomores that are majoring in finance at Marquette. Our alumni from the major national and regional financial institutions offer valuable insights into the recruiting process. During their visit to campus, the alumni also provide an important networking opportunity for our undergraduates. This is an outstanding event and one that all finance students should take full advantage. The Ins and Outs of Wall Street has probably grown to become our most important annual event on the Marquette campus for finance majors.”

The agenda was set up to provide information on a variety of topics to help students improve their opportunities for interviews and employment with leading financial firms. The elements of the Ins and Outs program included: an overview of the functional areas in finance; breakout sessions with alumni in the various functional areas; interviewing tips; and networking skills. Dr. Krause, who along with Marquette’s Advancement Office and alumni organized the event said, “The day was again a huge success. We are truly thankful for the support and participation of our alumni. The Ins and Outs of Wall Street is a unique opportunity for our students to understand what it will take, beyond their classroom learning, to succeed in the world of high finance. This event gets better and better each year.”  

Dr. Krause continued, “We had over 80 students arrive for the event by 8 a.m. on a Saturday morning in April, which I believe goes to show how our students realize the importance of the Ins and Outs. I also think that the students were highly impressed with the alumni presenters – who serve as important role models. We have recent Marquette alumni working within almost every major financial firm in the country, in every conceivable functional area of the finance industry, and at all levels of the organization. It shows that Marquette finance undergrads can go from campus to Wall Street within a few short years.”

The morning was organized with various alumni talking and interacting with students about their respective functional areas of finance. The functional areas were broken down as follows (with the alumni presenters):
  • Investment Banking (Brandon Giles, Amy Klemme, Adam Bordner, Katie Kasper, Brian Finnie, Luke Darkow, Sarah Clasing, and Victoria Fox)
  • Sales & Trading (Mike Rice, Mark Davino, Herwin Yip, Ray Lefebvre, and Christina Starkey)
  • Wealth Management (Bill Fritz, Mary Kowarick, Dan Williams, Pamela Lucina, and Tiffany Roberts)
  • Investment Research & Asset Management (Tim Kellen, Mike Signore, David Zakutansky, Armintas Sinkevicius, and Kyle Zabel)
  • Alternative Investments - Private Equity & Hedge Funds (Gavin Kaparis, Barrett Willich, Greg Rawls, Phil Bronsteatter, Chris Williams, and Joel Grebenick)

Following lunch the students were given advice on the ‘soft skills’ needed to succeed in landing an internship or their first job in the finance industry. They received tips and advice from the alumni about how to prepare resumes and successfully interact in various professional settings – including telephone and in-person interviews. 

The ‘Preparing for the Interview and Breaking into a Major Finance Firm’ section was conducted by Bill Fritz and Armintas Sinkevicius. Their “do's and don’ts” advice about resume writing, networking, and interview preparation was well received by the students. There was considered interaction and many excellent questions were poised about how to handle certain job search and interview situations. 

The discussion about appropriate professional business apparel and how to dress for an interview was spearheaded by Amy Klemme, Sarah Clasing, Herwin Yip, and Joel Grebenick. Dr. Krause said, “The students received some valuable advice about how to dress for an interview or a social event held by a prospective employer - and the importance of not being an 'outlier.’ As unfair as it might seem, it is likely that a student with a good resume might not be given full consideration for a position if they show up in inappropriate attire or with a lack of the basic social skills in a professional setting.”
Before the day concluded and the networking events began, the students were treated to two mock interview sessions. Katie Kasper conducted a telephone interview with Brian Finnie for a finance research internship and Dan Williams and David Zakutansky conducted a mock in-person interview with Joel Grebenick for a full-time investment banking position. The students made considerable comments and asked many questions about the ‘do’s and don’ts’ of interviewing.
Dr. Krause observed, “I think this section of the day might have been the most important for our sophomores and juniors in attendance. They now have a much better understanding about how the interview process works and what employers are looking for…. I’m certain that the past Ins and Outs of Wall Street have led to many of our students obtaining offers that they wouldn't have otherwise.”

Dr. Krause concluded, “Through the efforts of Dan Williams (who has helped to organize all five of our Ins and Outs events) and all of the other Marquette alumni and our people in the Advancement Office, the day was an enormous success. I can say categorically that the Ins and Outs event is a game-changer for our students. Every year our students learn more and more tips about how they can improve their understanding of the investment and banking workplace and how to make our students more attractive to prospective employers. I have always known that our students can technically and fundamentally compete with the top students from the ‘target schools’ across the country – if just given the opportunity – and this is what the Ins and Outs of Wall Street event is about…. giving our students the opportunity to get the interviews and to make a positive impact. In my mind the day was a huge success and we are indebted to the efforts of our alumni for their contributions. Thanks to everyone involved in the planning and implementation of the Ins and Outs.”

Thursday, April 19, 2012

Follow-up to the 5th annual "Ins and Outs of Wall Street" event

We were very encouraged to see so many Marquette students attending this past weekend's Ins and Outs of Wall Street event on Marquette's campus.  Our hope is that you found value in the presentations and material provided by our alumni during the event. 

We realize there was a lot of information presented on Saturday, so we have posted the materials on the AIM website for your review.   We are hopeful that you will reach out to our alumni with a thank you note or a nicely written email message (especially to those alumni who took the time to speak with you individually).

On behalf of the AIM program, Advancement Office, faculty, and administration at Marquette, we are thankful for the outstanding contributions of our alumni. This group continues to contribute to the University with their time and commitment. This was the best Ins and Outs event to date - a sincere thank you to the contributors and presenters!

Want to Ace Your Next Internship or Job Interview?

Janet Aschkenasy, writing in the NYSSA’s The Finance Professional’s Post, reports that narcissists do much better in job interviews than their less obnoxious counterparts, according to a new study from researchers at the University of Nebraska-Lincoln scheduled to be published in the Journal of Applied Social Psychology.

Technically, narcissism is a mental disorder in which people have an inflated sense of their own importance and a deep need for admiration. Those with narcissistic personality disorder believe that they are superior to others and have little regard for other people’s feelings.

And yet, university researchers point out narcissists’ innate tendency to promote themselves—in part by engaging and speaking at length—which implied confidence and expertise in job interview settings.

“This is one setting where it’s OK to say nice things about yourself and there are no ramifications. In fact, it’s expected,” said Peter Harms, assistant professor of management at the University of Nebraska-Lincoln and a co-author of the new study. “Simply put, those who are comfortable doing this tend to do much better than those who aren’t.”

An announcement from the university explains how researchers engaged in the two-part study examining the effectiveness of the types of behaviors that narcissists exhibit—“which would be typically seen as maladjusted”—in the narrow context of an interview.

In the first part, 72 participants were videotaped in a simulated job-applicant setting. As expected, narcissists were more likely to self-promote; however, it was when expert interviewers challenged applicants that narcissists started behaving in unexpected ways, Harms said. While normal individuals backed off of their self-promotion tactics when held accountable, narcissists actually increased their attempts to make themselves look better.

“When feeling challenged, they tend to double down,” Harms said. “It’s as if they say, ‘Oh, you’re going to challenge me? Then I’m not just great—I’m fantastic.’ And in this setting,” Harms observed, “it tended to work.” In the study’s second part, 222 raters evaluated videos of applicants with similar job skills and varying levels of narcissism.

The raters consistently awarded chronic self-promoters—who spoke quickly and at length and who used ingratiation tactics—such as smiling, gesturing, and complimenting others—with much better evaluations. Equally qualified applicants who were more modest scored lower.

“This shows that what is getting [narcissists] the win is the delivery,” Harms said. “These results show just how hard it is to effectively interview, and how fallible we can be when making interview judgments. We don’t necessarily want to hire narcissists, but might end up doing so because they come off as being self-confident and capable.”

For interviewers, the study’s findings mean they must become aware of the tactics used by narcissists, Harms said, and, if necessary, avoid selecting people who chronically use self-promotion and ingratiation, unless those behaviors are appropriate for the position.

For job seekers, meanwhile, the key takeaway from this report, according to Canada’s Globe and Mail, is that “In job interviews, the rules of normal social interaction get shifted, and people looking to get hired need to view what might be odious behavior in the rest of life as beneficial.”