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Investment Banking Course
1. Introduction and Investment Banking Course Overview
Course Introduction and Study Plan
Course Material Download
Preparation Checklist
Cheat Sheet
2. Investment Banking Recruiting Strategy
Introduction to Investment Banking Recruiting Strategy
Why Recruit for Investment Banking?
Exit Opportunities
Recruiting for Investment Banking
Ranking Candidates
Typical Recruiting Process and Timeline
Exploding Offers
Evaluating Offers
Off-Cycle Opportunities
3. The Investment Banking Landscape
Introduction to Investment Banking Landscape
What do Investment Banks Do?
Investment Banking Divisions and Functions
What do Investment Bankers Do?
Roadshow and Initial Public Offerings (IPOs)
Top Investment Banks and Landscape
Bulge Bracket Banks
Elite Boutique Banks / Independent Advisors
4. Qualitative Preparation
Introduction to Qualitative Preparation
Typical Interview Format
How to Answer Qualitative Questions
The "Big 3" Qualitative Questions
Tell Me About Yourself
Advice for Qualitative Questions / Tell Me About Yourself (Examples)
Communication Tips
Why Investment Banking?
More Reasons for Why Investment Banking?
How to Research an Investment Banking Firm
Why This Firm?
Why This Firm? (Examples)
Video Answers to The Big 3 Qualitative Questions
Types of Qualitative Questions
Scenario Questions
Personality / Creativity Questions
Questions to Ask Interviewer
Thank You Emails and Email Templates
5. Accounting Principles
Introduction to Accounting Principles
The 3 Financial Statements
Income Statement
Non-Cash Expenses
EBITDA
Cash Flow Statement
Cash Flow Statement Line Items
Free Cash Flow
Balance Sheet
Balance Sheet (Assets)
FIFO and LIFO Accounting
Balance Sheet (Liabilities and Equity)
Net Working Capital
Dividends
Compound Annual Growth Rate (CAGR)
Basis Points
6. Discounted Cash Flow (DCF) Valuation and Enterprise Value
Introduction to DCF and Enterprise Value
What is Valuation?
Time Value of Money and Asset Risk
Time Value of Money Questions
Discount Rate
Discounted Cash Flow Analysis
Terminal Value
Perpetuity Assets
Discounted Cash Flow Concepts
DCF Model Example (Excel)
Weighted Average Cost of Capital (WACC)
Capital Structure (Equity and Debt)
WACC Example #1
Capital Asset Pricing Model (CAPM)
Beta
Deriving Beta and Beta Theory
WACC Inputs
Tax Shield and Debt Tax Shield
WACC Example #2 (Excel)
Enterprise Value
Non-Controlling Interest
Treasury Stock Method (Excel)
Capital Structure Neutral
7. Comparable Companies and Precedent Transactions Valuation
Introduction to Comparable Companies and Precedent Transactions Valuation
Comparable Companies
Apples to Apples
Determining Appropriate Comparable Companies
Standardizing Comps Data
Selecting Valuation and Operating Metrics
Benchmarking Financial Information in Excel
Comps Walkthrough Example (Excel)
Imply Valuation of Target Company (Excel)
Last Twelve Months and Next Twelve Months
What Drives Multiples?
Pros and Cons of Comps
Multiples May Have Exponential Correlation
Precedent Transactions Analysis
Precedent Transactions Example
Pros and Cons of Precedent Transactions
Comps and Precedents Questions
8. Accounting Flowthrough
Introduction to Accounting Flowthrough
What is Accounting Flowthrough?
Flowthrough Logic (Excel)
Asset Write Down and Revenue Questions
Accounting Flowthrough Tips
Debt and PIK Debt Questions
Ownership Reporting Methods
Equity Investment Questions
9. Accretion / Dilution Analysis
Introduction to Accretion / Dilution Analysis
What is Accretion / Dilution Analysis?
Components Needed for Accretion / Dilution
Sources of Capital in an Acquisition
Inverting P/E Multiple for Equity Transactions
Accretion / Dilution Questions
Cost of Financing
Synergies
Revenue and Cost Synergies
Cost to Realize Synergies
Pro Forma Share Price Analysis
Ways to Make Accretion / Dilution Harder
10. Leveraged Buyout (LBO) Analysis
Introduction to Leveraged Buyout Analysis
What is Leveraged Buyout Analysis?
Key LBO Levers
How to Build an LBO
Sources (Debt)
Sources (Equity)
Uses
Paper LBO Example and Determining Assumptions
Forecasting Income Statement and Cash Flow Statement
Internal Rate of Return (IRR)
Multiple of Money (MoM)
The Rule of 72
Debt Paydown and Returns
LBO Questions
11. Stock Pitch and Company Analysis
Introduction to Stock Pitch and Company Analysis
How to Prepare for a Stock Pitch
What Makes a Good Company and Investment?
Where to Get Stock Pitch Ideas
Screening for Stock Pitches
Company's Business Model
Collecting Company Data
Basic Stock Pitch Structure
Stock Pitch Examples
Video Stock Pitch Answer
Common Stock Pitch Questions
12. Market Questions and Deal Preparation
Introduction to Market Questions and Deal Preparation
Market Questions Framework and Example
Tell Me About a Deal
Deal Walkthrough Examples
Video Deal Walkthrough Answer
13. Brain Teasers and Lateral Thinking
Introduction to Brain Teasers and Lateral Thinking
Types of Brain Teasers
Finance Brain Teasers
Estimation Brain Teasers
Open-Ended Creativity Questions
Normal Brain Teasers
14. Course Conclusion
Conclusion
Refer a Friend to Get My PE and IB Resumes!
Referral Instructions
Course Feedback
Investment Banking Course Survey
Video Answers to The Big 3 Qualitative Questions
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