How to understand enough about trading/markets to pass an interview

[john kane]

ive got a first round interview with lehman brothers for their graduate trading program.

one slight problem.

i know nothing (technical) about trading.

the interview will be next week.

i know there is a reading list as a sticky but i dont have time to buy books and read them.

all i know is you go long when you think the price will go up and short when you expect it to go down (something like you borrow the stock at time t and give it back at time t+1 and pay for it at the lower price).

anyway, sample interview questions i could be asked (in addition to the usual teamwork, leadership etc) are:

how do you value a company and how are financial statements interrelated?

What do you consider to be the long-term global impact of the current price of oil?

What time of year would a ski lodge be likely to need more financing? For what?

Where do you believe the equity market is heading this year and why?


any suggestions/help/advice greatly appreciated.

i understand ill have to read the economist, FT, and a few other bits and bobs, but what else should i do?