Last updated 4/2022
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: English | Size: 3.73 GB | Duration: 10h 45m
The #1 Course to Land a Job in Investment Banking. IPOs, Bonds, M&A, Trading, LBOs, Valuation: Everything is included!
What you’ll learn
Start a career in Investment Banking or Private Equity
Pass investment banking interviews
Build financial models from scratch (shown step-by-step)
Build valuation models – DCF, LBO and multiples
Have solid financial and business acumen
Take your career to the next level!
Tell the story of how investment banking services first appeared
Understand the difference between investment and commercial banking
Explain the mechanics of an Initial Public Offering
Understand how pricing is determined in an IPO
Draw an IPO timetable
Understand why companies go public
Explain the mechanics of a bond offering
Understand how pricing is determined in a bond offering
Draw a bond offering timetable
Understand why companies raise public debt
Explain loan syndication and who participates in the syndicate
Understand securitization and explain why banks use securitization
Learn why companies buy other companies
Identify successful M&A transactions
Explain the deal lifecycle
Tell the difference between Financial and Corporate buyers
Describe the different payment options in an M&A deal
Understand the essence of restructuring services
Learn about the different ways to restructure a company
Become familiar with trading and brokerage and the securities traded on Financial Markets
Understand asset management services
Be able to describe asset management vehicles and expected rates of return
Calculate a company’s cost of debt, cost of equity, and WACC
Perform LBO valuation
Understand the rationale behind Leveraged Buyout deals
Be able to tell who carries out LBO deals and why they can be very profitable
After this course, you will have the skills to start a successful career in Investment Banking and Corporate Finance
Requirements
Absolutely no experience is required. We will start with the basics and gradually build up your knowledge. Everything is in the course.
A willingness to learn and practice
Description
** Updated for June 2022 **The Complete Investment Banking Course 2022 is the most hands-on, interactive and dynamic investment banking course you will find online.+ 64 Pages of Course Notes+ 12 Course Challenges + 26 PDF Files + 22 Quiz Questions + 32 Excel files + A complete Glossary with key terms and phrases + Real-world examples and case studies + Interesting facts about the industry + 2 Valuation models built from scratch + 11 hours of Full-HD video The course starts off by introducing you to the four main areas of investment banking – Capital Markets, Advisory, Trading and Brokerage, and Asset Management.Then we continue by digging deeper into each line of business. You will learn the subtleties of Initial Public Offerings, Seasoned Equity Offerings, Private Placements, Bond Issuances, Loan Syndications, Securitizations, Mergers & Acquisitions, Restructurings, Trading Instruments, Asset Management Vehicles and more. Pretty much everything that can come up in an investment banking interview. However, the best part is that you will learn different valuation techniques like the ones used by Goldman Sachs, Morgan Stanley and J.P. Morgan. We will show you how to carry out a Discounted Cash Flow valuation, a multiples valuation, and an LBO valuation. You will learn how to estimate a company’s cost of capital and future cash flows. Don’t worry if these sound unfamiliar right now; everything is shown in the course – step-by-step – with no steps skipped. This is a one-stop-shop, providing everything you need to land a job on Wall Street. What makes this course different from the rest of the Finance courses out there?
High quality of production: Full-HD video and animations (This isn’t a collection of boring lectures!)Knowledgeable instructor (1.5 million students on Udemy; worked in M&A)Complete training: We will cover all major topics and skills you need to land a job in investment bankingExtensive Case Studies: To help you reinforce everything you’ve learnedAn abundance of materials: PDF & Excel files, Infographics, Course notes; you name it! Everything is inside!Excellent support: If you don’t understand a concept or you simply want to drop us a line, you’ll receive an answer within 1 business dayDynamic: We don’t want to waste your time! The instructor keeps up a very good pace throughout the whole courseBonus prizes: Upon completion of 50% and then 100% of the course, you will receive two bonus gifts Why should you consider a career as an Investment Banker?
Salary. Investment Bankers are some of the best paid professionals in our societyPromotions. Investment Bankers acquire valuable technical skills, which makes them the leading candidates for senior roles in industrial companies and Private Equity firmsGrowth. This isn’t a boring job. Every day you will face different challenges that will test your existing skillsPlease don’t forget that the course comes with Udemy’s 30-day unconditional money-back-in-full guarantee. And why not give such a guarantee, when we are convinced that the course will provide a ton of value for you?Just go ahead and subscribe to this course! If you don’t acquire these skills now, you will miss an opportunity to separate yourself from the others. Don’t risk your future success! Let’s start learning together now!
Overview
Section 1: Welcome! Course Introduction
Lecture 1 What does the course cover?
Lecture 2 Download all course materials
Section 2: The ascendance of investment banking services
Lecture 3 The importance of history, name, tradition, and reputation
Lecture 4 Early origins of investment banking services
Lecture 5 What is the difference between commercial and investment banking?
Lecture 6 Why do universal banks have a competitive advantage?
Lecture 7 Intrinsic conflicts of interest and the role of Chinese walls
Lecture 8 Historical M&A waves
Lecture 9 Three of the most important IPOs in history
Section 3: The four main areas of investment banking activity
Lecture 10 Capital markets – raising equity and debt capital
Lecture 11 Advisory – M&A and Restructuring services
Lecture 12 Trading and Brokerage – trading with financial securities
Lecture 13 Asset management – the ability to use money to make more money
Section 4: Strategies pursued by investment banks
Lecture 14 Strategies pursued by investment banks
Lecture 15 Relationship vs transaction-based banking
Lecture 16 The accidental investment banker – Book recommendation
Section 5: Capital markets – Equity capital markets
Lecture 17 Why would a company want to go public?
Lecture 18 Who are the investors in an IPO?
Lecture 19 Coming up with a share price
Lecture 20 What does an IPO timetable look like?
Lecture 21 The IPO syndicate – members and responsibilities
Lecture 22 The pricing process
Lecture 23 Fee distribution among investment banks
Lecture 24 Allocating shares to investors – who gets what
Lecture 25 Taking a long and short position with respect to a security (definition)
Lecture 26 Post-IPO stabilization: Applying the Greenshoe option
Lecture 27 Greenshoe explained – Practical example
Lecture 28 Other ways to place equity capital – SEOs and private placements
Lecture 29 Facebook’s IPO – Case study
Lecture 30 Course Challenge #1 – IPO
Section 6: Capital Markets – Debt Capital Markets
Lecture 31 The four different types of bonds
Lecture 32 Why issue a bond?
Lecture 33 The mechanics of a bond offering. Process description
Lecture 34 A particular type of bonds – Junk bonds
Lecture 35 What is securitization and why can it be useful?
Lecture 36 Securitization – explained
Lecture 37 Asset-backed securities: An example of securitization
Lecture 38 Loan syndication – a preferred instrument for most banks nowadays
Lecture 39 Project finance
Lecture 40 Course challenge #2 – Debt offerings
Section 7: Advisory services – Mergers and acquisitions
Lecture 41 Why acquire another company?
Lecture 42 Describing the typical deal lifecycles and buyer companies
Lecture 43 The three types of M&A processes
Lecture 44 A detailed description of an M&A process
Lecture 45 Valuation of target companies
Lecture 46 Payment options in M&A deals
Lecture 47 Financial vs. Corporate buyers
Lecture 48 Course challenge #3 – M&A
Section 8: Advisory services – Restructuring
Lecture 49 Restructuring services – why and when
Lecture 50 The different types of Restructuring
Lecture 51 Course Challenge #4 – Restructuring
Section 9: Trading and Brokerage
Lecture 52 How investment banks profit from Trading and Brokerage
Lecture 53 The different types of financial securities traded by investment banks
Section 10: Asset management
Lecture 54 Why hire Investment banks as asset managers?
Lecture 55 A risk-return comparison of different investments
Lecture 56 Private equity funds
Section 11: A step-by-step guide to Company Valuation
Lecture 57 Why value a company?
Lecture 58 How much is a company worth for an investor?
Lecture 59 The two variables that drive a firm’s value
Lecture 60 The mechanism of Unlevered cash flow calculation
Lecture 61 Introducing a discount factor – Weighted average cost of capital
Lecture 62 Calculating a firm’s cost of debt
Lecture 63 Calculating a firm’s cost of equity
Lecture 64 How to find the beta for an unlisted firm?
Lecture 65 Estimating a company’s future cash flows
Lecture 66 The two stages of a DCF model
Lecture 67 Discounting cash flows and terminal value
Lecture 68 Calculating enterprise and equity value
Section 12: Financial modeling fundamentals
Lecture 69 What is a financial model?
Lecture 70 Why use a financial model?
Lecture 71 Inefficient financial modeling practices
Lecture 72 Efficient financial modeling practices
Lecture 73 Different types of financial models we can build
Lecture 74 The right level of detail we should use when building a 5 or 10-year model
Lecture 75 The right way to approach the forecasting exercise
Lecture 76 Building complete financial models
Lecture 77 Forecasting P&L items
Lecture 78 Forecasting Balance sheet items (1/2)
Lecture 79 Forecasting Balance sheet items (2/2)
Section 13: DCF Valuation – Introduction
Lecture 80 How to value a company – Introduction
Lecture 81 The stages of a complete DCF Valuation
Lecture 82 Let’s go through the structure of the DCF model we will create in Excel
Lecture 83 A glimpse at the company we are valuing – Cheeseco
Section 14: DCF valuation – Forecasting of key P&L items
Lecture 84 Modeling the top line
Lecture 85 Building flexible financial models in Excel
Lecture 86 Modeling other items: Other revenues and Cogs
Lecture 87 Modeling other items: Operating expenses and D&A
Lecture 88 Modeling Other Items: Interest expenses, Extraordinary items and Taxes
Section 15: DCF Valuation – Forecasting key Balance Sheet items
Lecture 89 How to forecast Balance Sheet items – the clear and practical way
Lecture 90 A key concept for finance practitioners – the "Days" methodology
Lecture 91 How to calculate "Days"
Lecture 92 How to use "Days" to project the future development of BS items
Lecture 93 Forecasting Property, plant & equipment, Other assets and Other liabilities
Section 16: DCF Valuation – Creating clean output sheets
Lecture 94 Excel best practices! Create a good-looking and clean output sheet in your model
Lecture 95 Putting what we learned into practice – Populating the P&L sheet
Lecture 96 How to create a clean output Balance Sheet in your Financial Model
Lecture 97 Completing the output BS sheet for the historical period
Section 17: DCF valuation – Calculating unlevered cash flows and Net cash flow
Lecture 98 Learn how to calculate Unlevered free cash flows
Lecture 99 Important! Reconcile UFCF to Net cash flow
Lecture 100 A very useful lesson! Cash flow calculation
Lecture 101 Arriving to actual Net cash flow figures and performing a check with cash
Lecture 102 A fast and effective way to modify multiple cell references in Excel
Section 18: DCF valuation – Calculating present value of cash flows in the forecast period
Lecture 103 Introducing weighted average cost of capital (WACC) and perpetuity growth rate
Lecture 104 Learn how to find the present value of future Cash Flows in Financial Models
Section 19: DCF valuation – Calculating Continuing value, Enterprise value and Equity ealue
Lecture 105 Calculating Continuing value and Enterprise value of the business
Lecture 106 Final steps! Calculating Equity value of the business
Section 20: DCF Valuation – Additional analyses accompanying the Financial Model
Lecture 107 Sensitivity analysis for WACC and perpetuity growth
Lecture 108 An application of Goal seek
Lecture 109 Recap of the financial model with charts and hypothesis testing
Section 21: Tesla valuation – Complete DCF exercise
Lecture 110 Organizing external inputs in a ‘Drivers’ sheet
Lecture 111 The input data we will work with
Lecture 112 Forecasting Tesla’s expected deliveries
Lecture 113 Comparing delivery figures with the ones of industry peers
Lecture 114 Estimating an average selling price of Tesla vehicles
Lecture 115 Calculating automotive revenue
Lecture 116 Peer comparison: Gross profit %
Lecture 117 Calculating automotive gross profit
Lecture 118 Calculating automotive cost of sales
Lecture 119 Forecasting ‘energy’ and ‘services’ revenue
Lecture 120 Calculating ‘energy’ and ‘services’ gross profit and cost of sales
Lecture 121 Forecasting operating expenses
Lecture 122 Building a fixed asset roll forward: estimating Capex
Lecture 123 Building a fixed asset roll forward: D&A schedule
Lecture 124 Peer comparison: D&A as a percentage of revenues
Lecture 125 Calculating DSO, DIO, DPO
Lecture 126 Producing a clean P&L output sheet
Lecture 127 Fill in the P&L output sheet
Lecture 128 Calculating investments in working capital
Lecture 129 Forecasting Unlevered free cash flow
Lecture 130 Forecasting other assets
Lecture 131 Forecasting other liabilities
Lecture 132 Completing Unlevered free cash flow
Lecture 133 Modeling Tesla’s financing needs in the forecast period
Lecture 134 Calculating Net income
Lecture 135 Bridging Unlevered Free cash flow to Net cash flow
Lecture 136 Balancing the Balance sheet
Lecture 137 Estimating Weighted average cost of capital (WACC)
Lecture 138 Performing Discounted cash flow valuation (DCF)
Lecture 139 Calculating enterprise value, equity value, and price per share
Lecture 140 Closing remarks
Section 22: Multiples valuation – triangulating DCF results with multiples
Lecture 141 What are valuation multiples and why we use them?
Lecture 142 What types of valuation multiples are there?
Lecture 143 Trading vs transaction valuation multiples
Lecture 144 Main principles of multiples valuation
Lecture 145 Comparison of earnings multiples (P/E vs EV/EBITDA)
Section 23: Multiples valuation – practical example – Volkswagen
Lecture 146 Introduction to the exercise
Lecture 147 High-level assessment of peer companies
Lecture 148 Assessment of P&L data – comparable companies
Lecture 149 How to adjust EBIT – theoretical framework
Lecture 150 How to adjust EV – theoretical framework
Lecture 151 How to adjust EBIT – practical example – Volkswagen
Lecture 152 How to adjust EV – practical example – Volkswagen
Lecture 153 Conclusion of the practical exercise
Section 24: A guide to Leveraged Buyouts
Lecture 154 What is an LBO?
Lecture 155 The phases of an LBO process
Lecture 156 When is an LBO a feasible option?
Lecture 157 Making money in an LBO
Lecture 158 Who are the lenders in an LBO?
Section 25: LBO Valuation – Building a leveraged buyout (LBO) model from scratch
Lecture 159 Introduction to the model we will build
Lecture 160 Establishing the maximum amount of debt that can be used in the transaction
Lecture 161 Financial sponsors’ perspective
Lecture 162 Forecasting financials until EBIT
Lecture 163 The optimal debt structure
Lecture 164 Estimating cash flows and debt payments
Lecture 165 Completing the model for the period 2018-2021
Lecture 166 Calculating Enterprise value and IRR
Lecture 167 Performing sensitivity analysis
Section 26: Interview preparation
Lecture 168 Career guide and frequently asked interview questions
Section 27: Who Does What in Finance?
Lecture 169 Who Does What in Finance?
Section 28: Bonus lecture
Lecture 170 Bonus lecture: Next steps
Aspiring investment bankers,People who are ambitious and are interested in earning a seven-figure salary,Anyone who wants to learn about investment banking and company valuation
Homepage
https://www.udemy.com/course/the-complete-investment-banking-course-2016/
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