The first real-world guide for training equity research analysts?from a Morgan Stanley veteranAddresses the dearth of practical training materials for research analysts in the U.S. and globallyValentine managed a department of 70 analysts and 100 associates at Morgan Stanley and developed new programs for over 500 employees around the globeHe will promote the book through his company's extensive outreach capabilities
It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards. In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management.The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG?in the midst of the post-Great Recession slump?had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars? hedge fund lenders and bondholders had scooped up the company?s paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs?if they could just stop their own infighting. These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society?and even each other. In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens?vultures, as they are condemned?in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance.
Providing theoretical and practical insight, Distressed Debt Analysis: Strategies for Speculative Investors presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The book covers the broader financial environment of the reorganization and the basic process of investment analysis and investment strategies. The author uses numerous real-world examples and case studies to emphasize important concepts and critical issues. The developments that have created these extraordinary investment opportunities have also created tremendous demand for professionals with experience and knowledge in the restructuring process. Distressed Debt Analysis: Strategies for Speculative Investors addresses the complete knowledge needs of investors and professionals in the burgeoning world of financially distressed companies. It is perfect for financial analysts, portfolio managers, bankruptcy departments of law firms, restructuring advisory groups, turnaround consulting firms, and reorganization and distressed securities departments of investment banks.
The essential resource for navigating the growing direct loan market Private Debt: Opportunities in Corporate Direct Lending provides investors with a single, comprehensive resource for understanding this asset class amidst an environment of tremendous growth. Traditionally a niche asset class pre-crisis, corporate direct lending has become an increasingly important allocation for institutional investors?assets managed by Business Development Company structures, which represent 25% of the asset class, have experienced over 600% growth since 2008 to become a $91 billion market. Middle market direct lending has traditionally been relegated to commercial banks, but onerous Dodd-Frank regulation has opened the opportunity for private asset managers to replace banks as corporate lenders; as direct loans have thus far escaped the low rates that decimate yield, this asset class has become an increasingly attractive option for institutional and retail investors. This book dissects direct loans as a class, providing the critical background information needed in order to work effectively with these assets. Understand direct lending as an asset class, and the different types of loans available Examine the opportunities, potential risks, and historical yield Delve into various loan investment vehicles, including the Business Development Company structure Learn how to structure a direct loan portfolio, and where it fits within your total portfolio The rapid rise of direct lending left a knowledge gap surrounding these nontraditional assets, leaving many investors ill-equipped to take full advantage of ever-increasing growth. This book provides a uniquely comprehensive guide to corporate direct lending, acting as both crash course and desk reference to facilitate smart investment decision making.
The Definitive Guide to Valuing Hard-to-Value Companies: Fully Revised for Today?s Financial Markets Valuing money-making companies that have long histories and established business models is straightforward. It is when you encounter difficult-to-value companies that you feel the urge to go over to the dark side of valuation?where you abandon first principles and create new metrics. Aswath Damodaran looks at a range of these companies, from start-ups in new businesses to distressed companies, from banks facing regulatory turmoil to commodity firms, and from emerging market upstarts to multinationals that spread across geographies and businesses. With each grouping, he helps you examine the call of the dark side and its practices and frameworks to value these firms. To answer these questions, Aswath looks at companies across the life cycle and in different markets, from Uber and Shake Shack at one end of the spectrum to Vale, Royal Dutch, and United Technologies at the other end. In the process, you learn how to Deal with ?abnormally low? and negative risk-free rates in valuation Adapt to dynamic and changing risk premiums Value young companies that are disrupting existing businesses Analyze commodity and cyclical companies across cycles Value a company as the sum of its parts or as an aggregation of its users/subscribers and customers Determine the difference between pricing and valuation, and why some investments can only be priced
McKinsey & Company's #1 best-selling guide to corporate valuation?the fully updated seventh edition Valuation has been the foremost resource for measuring company value for nearly three decades. Now in its seventh edition, this acclaimed volume continues to help financial professionals around the world gain a deep understanding of valuation and help their companies create, manage, and maximize economic value for their shareholders. This latest edition has been carefully revised and updated throughout, and includes new insights on topics such as digital, ESG (environmental, social and governance), and long-term investing, as well as fresh case studies. Clear, accessible chapters cover the fundamental principles of value creation, analyzing and forecasting performance, capital structure and dividends, valuing high-growth companies, and much more. The Financial Times calls the book ?one of the practitioners? best guides to valuation.? This book: Provides complete, detailed guidance on every crucial aspect of corporate valuation Explains the strategies, techniques, and nuances of valuation every manager needs to know Covers both core and advanced valuation techniques and management strategies Features/Includes a companion website that covers key issues in valuation, including videos, discussions of trending topics, and real-world valuation examples from the capital markets For over 90 years, McKinsey & Company has helped corporations and organizations make substantial and lasting improvements in their performance. Through seven editions and 30 years, Valuation: Measuring and Managing the Value of Companies, has served as the definitive reference for finance professionals, including investment bankers, financial analysts, CFOs and corporate managers, venture capitalists, and students and instructors in all areas of finance.
All CFA® Program exams through November 2021 will reflect the 2020 curriculum. Purchase your copy and begin studying for Level I now! The CFA® Program Curriculum 2020 Level I Box Set provides candidates and other motivated investment professionals with the official curriculum tested on the Level I CFA exam. This box set includes all the content Chartered Financial Analyst® candidates are expected to know for the Level I exam, including concise instruction on the 10 core topics covered in the Candidate Body of Knowledge (CBOK). Utilizing engaging visuals, cases, and examples to illustrate key concepts, this box set helps candidates apply what they learn in real-world investment scenarios. The CFA® Program Curriculum 2020 Level I Box Set offers: A comprehensive Learning Ecosystem designed to take you through the entire curriculum or help you focus on areas where you need additional study time. Practice questions to assist with your recall of key terms, concepts, and formulas. Mock exams to help you become accustomed to the pace and pressure of the real-world exam. Perfect for anyone considering the CFA® designation or currently preparing for a 2021 exam window, the 2020 Level I Box Set is a must-have resource for building basic skills required to become a Chartered Financial Analyst®.
The complete guide to Excel 2019 Whether you are just starting out or an Excel novice, the Excel 2019 Bible is your comprehensive, go-to guide for all your Excel 2019 needs. Whether you use Excel at work or at home, you will be guided through the powerful new features and capabilities to take full advantage of what the updated version offers. Learn to incorporate templates, implement formulas, create pivot tables, analyze data, and much more. Navigate this powerful tool for business, home management, technical work, and much more with the only resource you need, Excel 2019 Bible. Create functional spreadsheets that work Master formulas, formatting, pivot tables, and more Get acquainted with Excel 2019's new features and tools Whether you need a walkthrough tutorial or an easy-to-navigate desk reference, the Excel 2019 Bible has you covered with complete coverage and clear expert guidance.
The quick way to learn Microsoft Project 2019! This is learning made easy. Get more done quickly with Microsoft Project 2019. Jump in wherever you need answers?brisk lessons and informative screenshots show you exactly what to do, step by step. Other Project users will want to grab this book as well. Quickly start new plans, build task lists, and assign resources View resource capacity and track progress Capture and fine-tune work and cost details Visualize schedules with Gantt charts and other views and reports Consolidate projects, and share resources across plans Manage modern Agile projects (James Mills, Jr., contributor) Customize Project to maximize your efficiency Leverage improvements to task linking, timelines, and accessibility Master PM best practices while you learn Project Look up just the tasks and lessons you need
Harold Kerzner?s essential strategies on measuring project management performance With the growth of complex projects, stakeholder involvement, and advancements in visual-based technology, metrics and KPIs (key performance indicators) are key factors in evaluating project performance. Dashboard reporting systems provide accessible project performance data, and sharing this vital data in a concise and consistent manner is a key communication responsibility of all project managers. This third edition of Kerzner's groundbreaking work, Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance, helps functional managers gain a thorough grasp of what metrics and KPIs are and how to use them. Plus, this edition includes new sections on processing dashboard information, portfolio management PMO and metrics, and BI tool flexibility. ? Offers comprehensive coverage of the different dashboard types, design issues, and applications Provides full-color dashboards from some of the most successful project management companies, including IBM, Microsoft, and others Aligns with PMI?s PMBOK® Guide and stresses value-driven project management PPT decks are available by chapter and a test bank will be available for use in seminar presentations and courses Get ready to bolster your awareness of what good metrics management really entails today?and be armed with the knowledge to measure performance more effectively.
THE #1 GUIDE FOR STUDENTS AND PROFESSIONALS, NOW UPDATED FOR THE LATEST TRENDS AND EMERGING ISSUES Project Management, or the "Project Management bible" as it's widely known, provides practical guidance on all aspects of project management. It features a streamlined approach to PM functions without stinting on detailed coverage of the tools and methods used at all stages of a project. This 12th Edition has been updated to reflect industry changes and features in-depth coverage of emerging topics, including global stakeholder management, causes of failure, agile project management, project governance failure, customer approval milestones, classifying project metrics, and more. Also, supplementary materials are available for students, professionals, and instructors. Understand organizational structures and project management functions Learn how to control costs, manage risk, and analyze trade-offs Examine different methods used for planning, scheduling, QA, and more Work effectively with customers and stakeholders from around the globe As projects increase in scope and complexity, managing them across time zones, language barriers, and technology platforms requires a systematic approach that accounts for every detail. All the more reason to keep Project Management, 12th Edition within arm's reach throughout all stages of the projects you manage.
To support the broadening spectrum of project delivery approaches, PMI is offering A Guide to the Project Management Body of Knowledge (PMBOK® Guide) ? Sixth Edition as a bundle with its latest, the Agile Practice Guide. The PMBOK® Guide ? Sixth Edition now contains detailed information about agile; while the Agile Practice Guide, created in partnership with Agile Alliance®, serves as a bridge to connect waterfall and agile. Together they are a powerful tool for project managers.
