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Investment Banking Course
1. Introduction and Investment Banking Course Overview
Course Introduction and Study Plan (2:49)
Course Material Download
Support FAQ
Preparation Checklist (1:15)
Cheat Sheet (2:06)
2. Investment Banking Recruiting Strategy
Introduction to Investment Banking Recruiting Strategy (0:18)
Why Recruit for Investment Banking? (3:40)
Exit Opportunities (4:31)
Recruiting for Investment Banking (4:39)
Ranking Candidates (3:50)
Typical Recruiting Process and Timeline (4:52)
Exploding Offers (3:13)
Evaluating Offers (5:28)
Off-Cycle Opportunities (4:52)
3. The Investment Banking Landscape
Introduction to Investment Banking Landscape (0:24)
What do Investment Banks Do? (5:29)
Investment Banking Divisions and Functions (2:27)
What do Investment Bankers Do? (2:57)
Roadshow and Initial Public Offerings (IPOs) (3:09)
Top Investment Banks and Landscape (5:47)
Bulge Bracket Banks (4:15)
Elite Boutique Banks / Independent Advisors (4:35)
4. Qualitative Preparation
Introduction to Qualitative Preparation (0:25)
Typical Interview Format (4:35)
How to Answer Qualitative Questions (3:59)
The "Big 3" Qualitative Questions (1:54)
Tell Me About Yourself (4:54)
Advice for Qualitative Questions / Tell Me About Yourself (Examples) (4:34)
Communication Tips (2:56)
Why Investment Banking? (6:20)
More Reasons for Why Investment Banking? (3:54)
How to Research an Investment Banking Firm (3:55)
Why This Firm? (4:23)
Why This Firm? (Examples) (7:38)
Video Answers to The Big 3 Qualitative Questions (5:47)
Types of Qualitative Questions (6:48)
Scenario Questions (7:09)
Personality / Creativity Questions (1:34)
Questions to Ask Interviewer (4:45)
Thank You Emails and Email Templates (3:51)
5. Accounting Principles
Introduction to Accounting Principles (0:23)
The 3 Financial Statements (8:02)
Income Statement (4:42)
Non-Cash Expenses (3:29)
EBITDA (4:17)
Cash Flow Statement (5:21)
Cash Flow Statement Line Items (7:02)
Free Cash Flow (3:17)
Balance Sheet (5:33)
Balance Sheet (Assets) (6:18)
FIFO and LIFO Accounting (4:12)
Balance Sheet (Liabilities and Equity) (6:28)
Net Working Capital (6:45)
Dividends (3:37)
Compound Annual Growth Rate (CAGR) (4:06)
Basis Points (3:32)
6. Discounted Cash Flow (DCF) Valuation and Enterprise Value
Introduction to DCF and Enterprise Value (0:27)
What is Valuation? (4:22)
Time Value of Money and Asset Risk (3:34)
Time Value of Money Questions (6:41)
Discount Rate (2:28)
Discounted Cash Flow Analysis (5:08)
Terminal Value (6:36)
Perpetuity Assets (1:53)
Discounted Cash Flow Concepts (2:57)
DCF Model Example (Excel) (4:18)
Weighted Average Cost of Capital (WACC) (5:42)
Capital Structure (Equity and Debt) (7:12)
WACC Example #1 (4:31)
Capital Asset Pricing Model (CAPM) (4:41)
Beta (4:17)
Deriving Beta and Beta Theory (9:53)
WACC Inputs (6:29)
Tax Shield and Debt Tax Shield (4:34)
WACC Example #2 (Excel) (3:26)
Enterprise Value (8:12)
Non-Controlling Interest (5:35)
Treasury Stock Method (Excel) (8:34)
Capital Structure Neutral (5:26)
7. Comparable Companies and Precedent Transactions Valuation
Introduction to Comparable Companies and Precedent Transactions Valuation (0:25)
Comparable Companies (9:05)
Apples to Apples (7:46)
Determining Appropriate Comparable Companies (6:18)
Standardizing Comps Data (3:15)
Selecting Valuation and Operating Metrics (9:05)
Benchmarking Financial Information in Excel (1:53)
Comps Walkthrough Example (Excel) (21:49)
Imply Valuation of Target Company (Excel) (9:06)
Last Twelve Months and Next Twelve Months (3:27)
What Drives Multiples? (3:05)
Pros and Cons of Comps (3:06)
Multiples May Have Exponential Correlation (2:31)
Precedent Transactions Analysis (4:04)
Precedent Transactions Example (4:24)
Pros and Cons of Precedent Transactions (2:13)
Comps and Precedents Questions (9:53)
8. Accounting Flowthrough
Introduction to Accounting Flowthrough (0:35)
What is Accounting Flowthrough? (9:27)
Flowthrough Logic (Excel) (4:28)
Asset Write Down and Revenue Questions (6:21)
Accounting Flowthrough Tips (1:46)
Debt and PIK Debt Questions (7:08)
Ownership Reporting Methods (5:38)
Equity Investment Questions (4:57)
9. Accretion / Dilution Analysis
Introduction to Accretion / Dilution Analysis (0:40)
What is Accretion / Dilution Analysis? (9:00)
Components Needed for Accretion / Dilution (5:19)
Sources of Capital in an Acquisition (5:17)
Inverting P/E Multiple for Equity Transactions (5:22)
Accretion / Dilution Questions (9:21)
Cost of Financing (8:57)
Synergies (7:16)
Revenue and Cost Synergies (3:40)
Cost to Realize Synergies (8:23)
Pro Forma Share Price Analysis (4:41)
Ways to Make Accretion / Dilution Harder (2:21)
10. Leveraged Buyout (LBO) Analysis
Introduction to Leveraged Buyout Analysis (0:31)
What is Leveraged Buyout Analysis? (3:37)
Key LBO Levers (4:12)
How to Build an LBO (2:32)
Sources (Debt) (7:08)
Sources (Equity) (5:05)
Uses (4:38)
Paper LBO Example and Determining Assumptions (3:20)
Forecasting Income Statement and Cash Flow Statement (3:49)
Internal Rate of Return (IRR) (4:47)
Multiple of Money (MoM) (2:12)
The Rule of 72 (3:29)
Debt Paydown and Returns (2:25)
LBO Questions (6:01)
11. Stock Pitch and Company Analysis
Introduction to Stock Pitch and Company Analysis (0:28)
How to Prepare for a Stock Pitch (5:56)
What Makes a Good Company and Investment? (2:58)
Where to Get Stock Pitch Ideas (2:08)
Screening for Stock Pitches (4:42)
Company's Business Model (3:47)
Collecting Company Data (1:34)
Basic Stock Pitch Structure (4:19)
Stock Pitch Examples (4:34)
Video Stock Pitch Answer (2:52)
Common Stock Pitch Questions (1:54)
12. Market Questions and Deal Preparation
Introduction to Market Questions and Deal Preparation (0:42)
Market Questions Framework and Example (7:45)
Tell Me About a Deal (4:13)
Deal Walkthrough Examples (5:45)
Video Deal Walkthrough Answer (1:39)
13. Brain Teasers and Lateral Thinking
Introduction to Brain Teasers and Lateral Thinking (0:48)
Types of Brain Teasers (5:03)
Finance Brain Teasers (4:35)
Estimation Brain Teasers (7:51)
Open-Ended Creativity Questions (4:08)
Normal Brain Teasers (4:09)
14. Course Conclusion
Conclusion (0:32)
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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