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    The Complete Investment Banking

    BY
    Udemy

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    Mode

    Online

    Fees

    ₹ 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?
    • Download all course materials

    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

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