WILEY Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions

Description

In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one has been able to take the time to properly codify the lifeblood of the corporate financier's work-namely, valuation. Rosenbaum and Pearl have responded to this need by writing the book that they wish had existed when they were trying to break into Wall Street. Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions is a highly accessible and authoritative book that focuses on the primary valuation methodologies currently used on Wall Street-comparable companies, precedent transactions, DCF, and LBO analysis. These methodologies are used to determine valuation for public and private companies within the context of M&A transactions, LBOs, IPOs, restructurings, and investment decisions. Using a step-by-step how-to approach for each methodology, the authors build a chronological knowledge base and define key terms, financial concepts, and processes throughout the book. They also provide a comprehensive overview of the fundamentals of LBOs and an organized M&A sale process. In the aftermath of the subprime mortgage crisis and ensuing credit crunch, the world of finance is returning to the fundamentals of valuation and critical due diligence. This involves the use of more realistic assumptions governing approach to risk as well as a wide range of value drivers. While valuation has always involved a great deal of "art" in addition to time-tested "science," the artistry is perpetually evolving in accordance with market developments and conditions. In this sense, this book is particularly topical-in addition to detailing the technical fundamentals behind valuation, the authors infuse practical judgment skills and perspective to help guide the science. Review: CFA試験の参考書としてもオススメ - Rosenbaum and Pearlによる、Investment Bankingの名著です。 Leveraged Buyoutsについて興味があったので、購入しました。 平易な文章で分かりやすく書いてあり、具体的なexcelでの計算式にも 触れられています。 価格がちょっと高いですが、身につければ十分ペイできますのでオススメです。 Review: Great book for new hires and prospective professionals - When trying to learn how to financial model, the content that most other books force upon the reader may seem daunting and overwhelming; however, this is not the case for Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions. This book thoroughly walks the reader step-by-step through the most commonly used financial models on Wall Street and simplifies concepts that other books unnecessarily make complex. The book also comes with a passcode to access online materials through Wiley's website. These online materials include both completed and blank models where the reader can actually plug in numbers and do their own analysis. This book is a must have for new-hires (analysts, associates) and prospective professionals (students). I read the book during my sophomore year of college and secured an internship at a large bank after expressing my knowledge of these models to my interviewer. If you are a college student trying to go through the interviewing process or a new hire who wants to learn quickly, I recommend this extremely straightforward book.