The Financial Environment and Investment Course: The Financial Environment & Investment Course

Best Seller 103 Lectures 5h 31m 55s

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Curriculum For This Course

1. The ascendance of investment banking services

5 lectures 16m 10s

1. The importance of history, name, tradition, and reputation 2m 28s
2. Early origins of investment banking services 5m 55s
3. What is the difference between commercial and investment banking? 2m 15s
4. Why do universal banks have a competitive advantage? 3m 26s
5. Intrinsic conflicts of interest and the role of Chinese walls 2m 6s

2. The four main areas of investment banking activity

4 lectures 22m 29s

1. Capital Markets - raising equity and debt capital 7m 20s
2. Advisory - M&A and Restructuring services 7m 55s
3. Trading and Brokerage - trading with financial securities 3m 11s
4. Asset Management - the ability to use money to make more money 4m 3s

3. Capital Markets – Equity Capital Markets

7 lectures 19m 40s

1. Why would a company want to go public? 2m 25s
2. Who are the investors in an IPO? 3m 5s
3. Coming up with a share price 3m 49s
4. What does an IPO timetable look like? 3m 52s
5. The IPO syndicate - members and responsibilities 3m 9s
6. Allocating shares to investors - who gets what 1m 48s
7. Other ways to place equity capital - SEOs and Private Placements 1m 32s

4. Capital Markets – Debt Capital Markets

5 lectures 16m 25s

1. The four different types of bonds 2m 41s
2. Why issue a bond? 3m 52s
3. The mechanics of a bond offering 3m 58s
4. What is securitization and why can it be useful? 3m 21s
5. Loan Syndication - a preferred instrument for most banks nowadays 2m 33s

5. Advisory Services – Mergers and Acquisitions

7 lectures 22m 52s

1. Why acquire another company? 5m 34s
2. Describing the typical deal lifecycles and buyer companies 3m 16s
3. The three types of M&A processes 2m 51s
4. A detailed description of an M&A process 39s
5. Valuation of target companies 3m 59s
6. Payment options in M&A deals 4m 10s
7. Financial vs 2m 23s

6. Advisory Services – Restructuring

2 lectures 7m 1s

1. Restructuring services - why and when 2m 10s
2. The different types of Restructuring 4m 51s

7. Trading and Brokerage

2 lectures 7m 24s

1. How investment banks profit from Trading and Brokerage 3m 7s
2. The different types of financial securities traded by investment banks 4m 17s

8. Asset Management

2 lectures 4m 30s

1. Why hire Investment banks as asset managers? 1m 32s
2. A risk-return comparison of different investments 2m 58s

9. A step-by-step guide to Company Valuation

11 lectures 28m 44s

1. Why value a company? 1m 37s
2. How much is a company worth for an investor? 3m 13s
3. The two variables that drive a firm's value 1m 57s
4. The mechanism of Unlevered Cash Flow Calculation 4m 33s
5. Introducing a discount factor - Weighted Average Cost of Capital 3m 58s
6. Calculating a firm's cost of debt 55s
7. Calculating a firm's cost of equity 4m 41s
8. Estimating a company's future cash flows 2m 32s
9. The two stages of a DCF model 2m 24s
10. Discounting cash flows and terminal value 1m 44s
11. Calculating Enterprise and Equity value 1m 10s

10. Financial Modeling fundamentals

11 lectures 41m 28s

1. What is a Financial model? 2m 2s
2. Why use a Financial model? 2m 35s
3. Inefficient financial modeling practices 5m 49s
4. Efficient financial modeling practices 4m 58s
5. Different types of financial models we can build 4m 42s
6. The right level of detail we should use when building a 5 or 10-year model 2m 35s
7. The right way to approach the forecasting exercise 2m 51s
8. Building complete financial models 2m 15s
9. Forecasting P&L items 5m 58s
10. Forecasting Balance sheet items (1/2) 2m 35s
11. Forecasting Balance sheet items (2/2) 5m 8s

11. DCF Valuation - Introduction

3 lectures 10m 18s

1. The stages of a complete DCF Valuation 6m 16s
2. Let's go through the structure of the DCF model we will create in Excel 2m 53s
3. A glimpse at the company we are valuing - Cheeseco 1m 9s

12. DCF Valuation - Forecasting of key P&L items

5 lectures 14m 38s

1. Modeling the top line 3m 39s
2. This Is how you can build flexible financial models in Excel 2m 12s
3. Modeling other items: Other revenues and Cogs 3m 46s
4. Modeling other items: Operating expenses and D&A 2m 33s
5. Modeling Other Items: Interest expenses, Extraordinary items and Taxes 2m 28s

13. DCF Valuation - Forecasting of key Balance Sheet items

4 lectures 7m 3s

1. How to forecast Balance Sheet items - The practical and easy to understand way 43s
2. Learn how to calculate "Days" 1m 30s
3. How to use "Days" to project the future development of BS items 2m 23s
4. Forecasting Property Plant & Equipment, Other assets and Other liabilities 2m 27s

14. DCF Valuation - Creating clean output sheets

4 lectures 10m 20s

1. Excel best practices! Create a good-looking and clean output sheet in your model 2m 36s
2. Applying what we learned in practice - Populating the P&L sheet 2m 14s
3. This is how you can create a clean output Balance Sheet in your Financial Model 1m 49s
4. Completing the output BS sheet for the historical period 3m 41s

15. DCF Valuation - Calculating Unlevered Cash Flows and Net Cash Flow

5 lectures 18m 49s

1. Learn how to calculate Unlevered Free Cash Flows 3m 5s
2. Important! Reconcile UFCF to Net Cash Flow 1m 55s
3. A very useful lesson! Cash flow calculation 6m 1s
4. Arriving to actual Net Cash Flow figures and performing a check with Cash 3m 56s
5. The fast and effective way to modify multiple cell references in Excel 3m 52s

16. DCF Valuation - Calculating Present Value of Cash Flows in the forecast period

2 lectures 4m 46s

1. Introducing Weighted Average Cost of Capital (WACC) and perpetuity growth rate 1m 56s
2. Learn how to find the present value of future Cash Flows in Financial Models 2m 50s

17. DCF Valuation - Calculating Continuing Value,Enterprise Value and Equity Value

2 lectures 3m 39s

1. Calculating Continuing Value and Enterprise value of the Business 2m 17s
2. Final steps! Calculating Equity Value of the business 1m 22s

18. DCF Valuation - Additional analyses accompanying the Financial Model

3 lectures 10m 35s

1. Sensitivity analysis for WACC and perpetuity growth 4m 17s
2. An application of Goal Seek 1m 40s
3. Recap of the Financial Model with charts and hypothesis testing 4m 38s

19. Relative valuation – triangulating DCF results with multiples

5 lectures 13m 25s

1. Why do we use multiples? 3m 51s
2. What types of multiples are there? 2m 38s
3. Finding the right comparable companies 1m 43s
4. The most widely used multiples 3m 11s
5. Best practices that ensure accurate calculation of multiples 2m 2s

20. A guide to Leveraged Buyouts

5 lectures 15m 3s

1. What is an LBO? 2m 5s
2. The phases of an LBO process 1m 44s
3. When is an LBO a feasible option? 3m 23s
4. Making money in an LBO 3m 53s
5. Who are the lenders in an LBO? 3m 58s

21. LBO Valuation - Building a Leveraged Buyout model from scratch

9 lectures 36m 36s

1. Introduction to the model we will build 5m 4s
2. Establishing the maximum amount of debt that can be used in the transaction 4m 16s
3. Financial sponsors' perspective 2m 25s
4. Forecasting financials until EBIT 5m 17s
5. The optimal debt structure 2m 59s
6. Estimating cash flows and debt payments 3m 15s
7. Completing the model for the period 2018-2021 4m 17s
8. Calculating Enterprise Value and IRR 5m 1s
9. Performing sensitivity analysis 4m 2s