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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
- 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
** Updated for January 2020 **
The Complete Investment Banking Course 2020 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
+ 5 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 a Leveraged buyout valuation. You will 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 (worked on several M&A transactions)
- Complete training: We will cover all major topics and skills you need to land a job in Investment Banking
- Extensive Case Studies: To help you reinforce everything you’ve learned
- An 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 day
- Dynamic: We don’t want to waste your time! The instructor keeps up a very good pace throughout the whole course
- Bonus 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. Hello? Investment Bankers are some of the best paid professionals in the world
- Promotions. Investment Bankers acquire valuable technical skills, which makes them the leading candidates for senior roles within industrial companies and Private Equity firms
- Growth. This isn’t a boring job. Every day you will face different challenges that will test your existing skills
Please 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!Who this course is for:
- 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
Course contentExpand all 159 lectures08:50:30–Welcome! Course Introduction03:46What does the course cover?Preview03:35Download all course materials00:11–The ascendance of investment banking services27:20The importance of history, name, tradition, and reputationPreview02:29Early origins of investment banking services05:55What is the difference between commercial and investment banking?02:11Why do universal banks have a competitive advantage?03:26Intrinsic conflicts of interest and the role of Chinese walls02:59Quiz #12 questionsHistorical M&A waves05:33Three of the most important IPOs in history04:47–The four main areas of investment banking activity23:17Capital Markets – raising equity and debt capitalPreview07:21Advisory – M&A and Restructuring services08:43Trading and Brokerage – trading with financial securitiesPreview03:10Asset Management – the ability to use money to make more money04:03Quiz #29 questions–Strategies pursued by investment banks09:46Strategies pursued by investment banks04:01Relationship vs transaction-based banking04:44The Accidental Investment Banker – Book recommendation01:01–Capital Markets – Equity Capital Markets48:11Why would a company want to go public?02:51Who are the investors in an IPO?03:04Coming up with a share price03:49What does an IPO timetable look like?03:52The IPO syndicate – members and responsibilitiesPreview03:09The pricing process04:46Fee distribution among investment banks04:09Allocating shares to investors – who gets what04:31Taking a long and short position with respect to a security (definition)03:00Post-IPO stabilization: Applying the Greenshoe option05:05Greenshoe explained – Practical example02:06Other ways to place equity capital – SEOs and Private Placements01:32Facebook’s IPO – Case Study05:34Course Challenge #1 – IPO00:43Quiz #34 questions–Capital Markets – Debt Capital Markets33:33The four different types of bonds02:40Why issue a bond?03:52The mechanics of a bond offering. Process description03:58A particular type of bonds – Junk bonds02:57What is securitization and why can it be useful?03:20Securitization – explained02:43Asset-backed securities: An example of securitization05:03Loan Syndication – a preferred instrument for most banks nowadays02:33Project finance05:46Course Challenge #2 – Debt Offerings00:41Quiz #43 questions–Advisory Services – Mergers and Acquisitions23:36Why acquire another company?Preview05:34Describing the typical deal lifecycles and buyer companiesPreview03:16The three types of M&A processes02:51A detailed description of an M&A process00:38Valuation of target companies03:59Payment options in M&A dealsPreview04:09Financial vs. Corporate Buyers02:22Course Challenge #3 – M&A00:47Quiz #53 questions–Advisory Services – Restructuring07:41Restructuring services – why and when02:10The different types of Restructuring04:50Course Challenge #4 – Restructuring00:41Quiz #62 questions–Trading and Brokerage07:24How investment banks profit from Trading and Brokerage03:07The different types of financial securities traded by investment banks04:17Quiz #72 questions–Asset Management11:46Why hire Investment banks as asset managers?01:32A risk-return comparison of different investments02:58Private equity funds07:16Quiz #81 question–A step-by-step guide to Company Valuation28:41Why value a company?Preview01:36How much is a company worth for an investor?03:12The two variables that drive a firm’s value01:57The mechanism of Unlevered Cash Flow Calculation04:33Introducing a discount factor – Weighted Average Cost of Capital03:58Calculating a firm’s cost of debt00:55Calculating a firm’s cost of equity04:41Estimating a company’s future cash flows02:31The two stages of a DCF model02:24Discounting cash flows and terminal value01:44Calculating Enterprise and Equity value01:10–Financial Modeling fundamentals41:24What is a financial model?02:02Why use a financial model?02:34Inefficient financial modeling practices05:49Efficient financial modeling practices04:58Different types of financial models we can build04:42The right level of detail we should use when building a 5 or 10-year model02:34The right way to approach the forecasting exercise02:51Building complete financial models02:15Forecasting P&L items05:58Forecasting Balance sheet items (1/2)02:34Forecasting Balance sheet items (2/2)05:07–DCF Valuation – Introduction11:45How to value a company – Introduction01:03The stages of a complete DCF Valuation06:34Let’s go through the structure of the DCF model we will create in Excel02:57A glimpse at the company we are valuing – Cheeseco01:11–DCF Valuation – Forecasting of key P&L items15:13Modeling the top line03:56Building flexible financial models in Excel02:16Modeling other items: Other revenues and Cogs03:51Modeling other items: Operating expenses and D&A02:27Modeling Other Items: Interest expenses, Extraordinary items and Taxes02:43–DCF Valuation – Forecasting key Balance Sheet items08:19How to forecast Balance Sheet items – the clear and practical way00:42A key concept for finance practitioners – the “Days” methodology01:34How to calculate “Days”01:20How to use “Days” to project the future development of BS items02:22Forecasting Property Plant & Equipment, Other assets and Other liabilities02:21–DCF Valuation – Creating clean output sheets10:41Excel best practices! Create a good-looking and clean output sheet in your model02:36Putting what we learned into practice – Populating the P&L sheet02:29How to create a clean output Balance Sheet in your Financial Model01:53Completing the output BS sheet for the historical period03:43–DCF Valuation – Calculating Unlevered Cash Flows and Net Cash Flow19:47Learn how to calculate Unlevered Free Cash Flows03:18Important! Reconcile UFCF to Net Cash Flow01:53A very useful lesson! Cash flow calculation06:38Arriving to actual Net Cash Flow figures and performing a check with Cash03:57A fast and effective way to modify multiple cell references in Excel04:01–DCF Valuation – Calculating Present Value of Cash Flows in the forecast period04:54Introducing Weighted Average Cost of Capital (WACC) and perpetuity growth rate01:55Learn how to find the present value of future Cash Flows in Financial Models02:59–DCF Valuation – Calculating Continuing Value, Enterprise Value and Equity Value03:48Calculating Continuing Value and Enterprise value of the Business02:21Final steps! Calculating Equity Value of the business01:27–DCF Valuation – Additional analyses accompanying the Financial Model10:48Sensitivity analysis for WACC and perpetuity growth04:40An application of Goal Seek01:41Recap of the Financial Model with charts and hypothesis testing04:27–Tesla valuation – Complete DCF exercise01:52:50Organizing external inputs in a ‘Drivers’ sheet03:54The input data we will work with01:27Forecasting Tesla’s expected deliveries14:08Comparing delivery figures with the ones of industry peers02:54Estimating an average selling price of Tesla vehicles04:50Calculating automotive revenue04:37Peer comparison: Gross profit %02:18Calculating automotive gross profit02:48Calculating automotive cost of sales02:04Forecasting ‘energy’ and ‘services’ revenue02:53Calculating ‘energy’ and ‘services’ gross profit and cost of sales02:47Forecasting operating expenses05:16Building a fixed asset roll forward: estimating Capex06:20Building a fixed asset roll forward: D&A schedule05:42Peer comparison: D&A as a percentage of revenues01:26Calculating DSO, DIO, DPO01:54Producing a clean P&L output sheet01:29Fill in the P&L output sheet01:54Calculating investments in working capital01:58Forecasting Unlevered Free Cash Flow05:31Forecasting other assets03:53Forecasting other liabilities02:13Completing Unlevered Free Cash Flow03:42Modeling Tesla’s financing needs in the forecast period04:55Calculating Net income01:23Bridging Unlevered Free Cash Flow to Net Cash Flow03:58Balancing the Balance sheet00:57Estimating Weighted Average Cost of Capital (WACC)06:07Performing Discounted Cash Flow valuation (DCF)03:33Calculating enterprise value, equity value, and price per share02:10Closing remarks03:49–Relative valuation – triangulating DCF results with multiples13:41Why do we use multiples?03:51What types of multiples are there?02:37Finding the right comparable companies01:43The most widely used multiples03:28Best practices that ensure accurate calculation of multiples02:02–A guide to Leveraged Buyouts15:03What is an LBO?Preview02:05The phases of an LBO process01:44When is an LBO a feasible option?03:23Making money in an LBO03:53Who are the lenders in an LBO?03:58–LBO Valuation – Building a Leveraged Buyout model from scratch36:38Introduction to the model we will build05:04Establishing the maximum amount of debt that can be used in the transaction04:16Financial sponsors’ perspective02:27Forecasting financials until EBIT05:17The optimal debt structure02:59Estimating cash flows and debt payments03:15Completing the model for the period 2018-202104:17Calculating Enterprise Value and IRR05:01Performing sensitivity analysis04:02–Bonus lecture00:42Bonus lecture: Next steps00:42
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