The Complete Investment Banking

Udemy

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₹ 549 3499

Quick Facts

particular	details
Medium of instructions English	Mode of learning Self study	Mode of Delivery Video and Text Based

Course and certificate fees

Fees information

₹ 549 ₹3,499

certificate availability

Yes

certificate providing authority

Udemy

The syllabus

Welcome! Course Introduction

What does the course cover?
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The ascendance of investment banking services

The importance of history, name, tradition and reputation
Early origins of investment banking services
What is the difference between commercial and investment banking?
Why do universal banks have a competitive advantage?
Intrinsic conflicts of interest and the role of Chinese walls
Quiz #1
Historical M&A waves
Three of the most important IPOs in history

The four main areas of investment banking activity

Capital markets - raising equity and debt capital
Advisory – M&A and Restructuring services
Trading and Brokerage – trading with financial securities
Asset management – the ability to use money to make more money
Quiz #2

Strategies pursued by investment banks

Strategies pursued by investment banks
Relationship vs transaction-based banking
The accidental investment banker - Book recommendation

Capital Markets - Equity capital markets

Why would a company want to go public?
Who are the investors in an IPO?
Coming up with a share price
What does an IPO timetable look like?
The IPO syndicate – members and responsibilities
The pricing process
Fee distribution among investment banks
Allocating shares to investors – who gets what
Taking a long and short position with respect to a security (definition)
Post-IPO stabilization: Applying the Greenshoe option
Greenshoe explained – Practical example
Other ways to place equity capital – SEOs and private placements
Facebook's IPO - Case study
Course Challenge #1 - IPO
Quiz #3

Capital Markets - Debt capital markets

The four different types of bonds
Why issue a bond?
The mechanics of a bond offering. Process description
A particular type of bonds - Junk bonds
What is securitization and why can it be useful?
Securitization - explained
Asset-backed securities: An example of securitization
Loan syndication – a preferred instrument for most banks nowadays
Project finance
Course challenge #2 - Debt offerings
Quiz #4

Advisory services - Mergers & acquisitions

Why acquire another company?
Describing the typical deal lifecycles and buyer companies
The three types of M&A processes
A detailed description of an M&A process
Valuation of target companies
Payment Options in M&A deals
Financial vs. Corporate buyers
Course challenge #3 - M&A
Quiz #5

Advisory services - Restructuring

Restructuring services – why and when
The different types of Restructuring
Course Challenge #4 - Restructuring
Quiz #6

Trading and Brokerage

How investment banks profit from Trading and Brokerage
The different types of financial securities traded by investment banks
Quiz #7

Asset Mangement

Why hire Investment banks as asset managers?
A risk-return comparison of different investments
Private equity funds
Quiz #8

A step-by-step guide to Company Valuation

Why value a company?
How much is a company worth for an investor?
The two variables that drive a firm’s value
The mechanism of Unlevered cash flow calculation
Introducing a discount factor – Weighted average cost of capital
Calculating a firm's cost of debt
Calculating a firm’s cost of equity
How to find the beta for an unlisted firm?
Estimating a company’s future cash flows
The two stages of a DCF model
Discounting cash flows and terminal value
Calculating enterprise and equity value

Financial modeling fundamentals

What is a financial model?
Why use a financial model?
Inefficient financial modeling practices
Efficient financial modeling practices
Different types of financial models we can build
The right level of detail we should use when building a 5 or 10-year model
The right way to approach the forecasting exercise
Building complete financial models
Forecasting P&L items
Forecasting Balance sheet items (1/2)
Forecasting Balance sheet items (2/2)

DCF Valuation - Introduction

How to value a company - Introduction
The stages of a complete DCF Valuation
Let's go through the structure of the DCF model we will create in Excel
A glimpse at the company we are valuing - Cheeseco

DCF Valuation - Forecasting of Key P&L items

Modeling the top line
Building flexible financial models in Excel
Modeling other items: Other revenues and Cogs
Modeling other items: Operating expenses and D&A
Modeling Other Items: Interest expenses, Extraordinary items and Taxes

DCF Valuation - Forecasting Key Balance Sheet items

How to forecast Balance Sheet items - the clear and practical way
A key concept for finance practitioners - the "Days" methodology
How to calculate "Days"
How to use "Days" to project the future development of BS items
Forecasting Property, plant & equipment, Other assets and Other liabilities

DCF Valuation - Creating clean output sheets

Excel best practices! Create a good-looking and clean output sheet in your model
Putting what we learned into practice - Populating the P&L sheet
How to create a clean output Balance Sheet in your Financial Model
Completing the output BS sheet for the historical period

DCF Valuation - Calculating unlevered cash flows and Net cash flow

Learn how to calculate Unlevered free cash flows
Important! Reconcile UFCF to Net cash flow
A very useful lesson! Cash flow calculation
Arriving to actual Net cash flow figures and performing a check with cash
A fast and effective way to modify multiple cell references in Excel

DCF Valuation - Calculating present value of cash flows in the forecast period

Introducing weighted average cost of capital (WACC) and perpetuity growth rate
Learn how to find the present value of future Cash Flows in Financial Models

DCF Valuation - Calculating Continuing value, Enterprise value and Equity value

Calculating Continuing value and Enterprise value of the business
Final steps! Calculating Equity value of the business

DCF Valuation - Aditional analysis accompanying the Financial Model

Sensitivity analysis for WACC and perpetuity growth
An application of Goal seek
Recap of the financial model with charts and hypothesis testing

Tesla Valuation - Complete DCF exercise

Organizing external inputs in a 'Drivers' sheet
The input data we will work with
Forecasting Tesla's expected deliveries
Comparing delivery figures with the ones of industry peers
Estimating an average selling price of Tesla vehicles
Calculating automotive revenue
Peer comparison: Gross profit %
Calculating automotive gross profit
Calculating automotive cost of sales
Forecasting 'energy' and 'services' revenue
Calculating 'energy' and 'services' gross profit and cost of sales
Forecasting operating expenses
Building a fixed asset roll forward: estimating Capex
Building a fixed asset roll forward: D&A schedule
Peer comparison: D&A as a percentage of revenues
Calculating DSO, DIO, DPO
Producing a clean P&L output sheet
Fill in the P&L output sheet
Calculating investments in working capital
Forecasting Unlevered free cash flow
Forecasting other assets
Forecasting other liabilities
Completing Unlevered free cash flow
Modeling Tesla's financing needs in the forecast period
Calculating Net income
Bridging Unlevered Free cash flow to Net cash flow
Balancing the Balance sheet
Estimating Weighted average cost of capital (WACC)
Performing Discounted cash flow valuation (DCF)
Calculating enterprise value, equity value, and price per share
Closing remarks

Relative valuation - triangulating DCF results with multiples

Why do we use multiples?
What types of multiples are there?
Finding the right comparable companies
The most widely used multiples
Best practices that ensure accurate calculation of multiples

A guide to Leveraged Buyouts

What is an LBO?
The phases of an LBO process
When is an LBO a feasible option?
Making money in an LBO
Who are the lenders in an LBO?

LBO Valuation - Building a Leveraged Buyout (LBO) model from scratch

Introduction to the model we will build
Establishing the maximum amount of debt that can be used in the transaction
Financial sponsors’ perspective
Forecasting financials until EBIT
The optimal debt structure
Estimating cash flows and debt payments
Completing the model for the period 2018-2021
Calculating Enterprise value and IRR
Performing sensitivity analysis

Interview Preparation

Career guide and frequently asked interview questions

Who Does What in Finance?

Who Does What in Finance?

Bonus Lecture

Bonus lecture: Next steps

Articles

Latest Articles

How to start a career in Investment Banking Updated On 19 Jan, 2023

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