Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions First Edition

I have a finance degree and banking background. I found this book useful.

This is more informative than many longer investment banking books I've owned and it's much more accessible and lays in the information out in a more practical manner than lighter investment banking books that I've owned. The authors have found the perfect balance of theory and application as the book follows a very logical flow while keeping the reader engaged. The spreadsheets are incredibly useful as well and, in my opinion, are worth the price of the book alone. The only question I have for the authors, and the only thing about the book I would amend, is, why is there so little time spent discussing IPO's? This seems like a glaring omission to me but I'm not an experienced banker as the authors are and seeing as how the book is so thorough in every other respect, I'm sure it was done for a good reason.If you're interested in investment banking, consider this book a "Must Read."

I am an investment banker that works in niche markets; ambulatory healthcare and more specifically radiation oncology and surgery centers as well as hospitals.A good bit of my practice is concentrated on certain activities and guerilla techniques (creating processes and adapt that process to the local market/niche). Our niche is in between the Wall Street investment bankers and the business brokers carrying out mergers and acquisitions, surgeon investors recruitment, private placements and capital raises and capital structure consulting.Having said that, this book is a guide book that presents the big I banks' process in an easy to understand and straight forward format. I find myself go back to this book when preparing presentations, proposals, training and when in need of ideas.This is a book that every student and practitioner alike should read and keep on their reference shelf. I additionally recommend it for the business owners and executives that will undergo this process. This will help you understand what you IBer is attempting to carry out on your behalf.Blayne Rush, MHP, MBAInvestment Banker[...]

Based on own opinion, after going through over the half of it (before entering the leveraged buyout part), I think most of its contents have some overlap with Valuation Books, with some guides in Report overall constructing process.The Pros will include: some descriptions on the big picture of "how to" do it (draft some reports) in a general perspective, and cited some information site. It also inevitably addressed and admitted there will be many practical, general limitation. After all, if you don't know what is in the industry and the company you are reporting, or when you cannot get any useful information input, how are you going to write a report about that? It all starts from here.The Cons, might be: sometimes it lacks of proper notes and behind-the-surface meanings and limitations of the method or tools used or addressed. Possibly of course due to the intended scope and length. Also, much of the parts in Chapter 1 and Chapter 2 are redundant... you may want to skip that if read it in sequence, but helps if you just "jumped" to reading Chapter 2.Also, be careful to keep your minds activating when reading such topic, sometimes there might be some glitches when it wants to keep the reading brief. For me it looks most noticeably when the book addresses the definition of ROA in the beginning (p.37), while an applicable rules is mentioned just 1 page before it (p.36, practice vs rules).

I bought this book after the authors of this book, Rosenbaum and Pearl, presented at a finance summit at Rutgers Business School. I thought their presentation was clear and easy to understand so I bought the book to learn more about investment banking, out of pure curiosity. Although I'm a strategy and marketing major, the book provides a clear and concise explanation of valuation and M&A, but still goes into details and explains cash flow analysis, transaction analysis, and helps one learn to decode financial statements. The book is filled with diagrams and tables to illustrate the points. The best thing about this book is that while it explains many different topics, they are broken down into a step-by-step process. The text is also easy to read. The book was helpful in a financial statement analysis class and I keep it as a desk reference in my current role in pharmaceutical business development.

When trying to learn how to financial model, the content that most other books force upon the reader may seem daunting and overwhelming; however, this is not the case for Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions. This book thoroughly walks the reader step-by-step through the most commonly used financial models on Wall Street and simplifies concepts that other books unnecessarily make complex. The book also comes with a passcode to access online materials through Wiley's website. These online materials include both completed and blank models where the reader can actually plug in numbers and do their own analysis.This book is a must have for new-hires (analysts, associates) and prospective professionals (students). I read the book during my sophomore year of college and secured an internship at a large bank after expressing my knowledge of these models to my interviewer. If you are a college student trying to go through the interviewing process or a new hire who wants to learn quickly, I recommend this extremely straightforward book.