Insider guidance to the modern world of investment banking today In Investment Banking Explained, Wharton professor and globalfinancier Michel Fleuriet provides a complete overview ofinvestment banking in its modern form; defines key terms; identifiesstructures, strategies, and operational aspects; and analyzesthe strategy in each of the main functional areas of aninvestment bank.

Written in accessible, easy-to-understand language, this book provides everything you need to identify structures, strategies, and operational aspects of investment banking, and it offers thorough examinations of the operations of the world's most successful firms. --

From a historical point of view, the main activity of investment banks is what today we call security underwriting. Investment banks buy securities, such as bonds and stocks, from an issuer and then sell them to the ?nal investors. In the eighteenth century, the main securities were bonds issued by governments. The way these bonds were priced and placed is extraordinarily similar to the system that inve- ment banks still use nowadays. When a government wanted to issue new bonds, it negotiated with a few prominent “middlemen” (today we would call them investment bankers). The middlemen agreed to take a fraction of the bonds: they accepted to do so only after having canvassed a list of people they could rely upon. The people on the list were the ?nal investors. The middlemen negotiated with the government even after the issuance. Indeed, in those days governments often changed unilaterally the bond conditions and being on the list of an important middleman could make the difference. On the other hand, middlemen with larger lists were considered to be in a better bargaining position. This game was repeated over time, and hence, reputation mattered. For the middlemen, being trusted by both the investors on the list and by the issuing governments was crucial.

Get started in investment banking Ace your investment bank course Navigate bull and bear markets Excel in the world of investment banking One of the most lucrative fields in business, investment banking frequently perplexes even banking professionals working within its complex laws. Investment Banking For Dummies remedies common misconceptions with a straightforward assessment of banking fundamentals. This book tracks to typical university courses on the subject and helps students and professionals understand the fundamentals of investment banking. With new and updated content, this edition addresses the major financial changes that have occurred in recent years. Inside... Key investment banking operations Strategies for risk management Advice on cryptocurrencies Updated IPO coverage Discounted cash flow analysis Mergers and acquisitions Structuring a leveraged buyout Resources for investment bankers

Enrich your career with a review of investment banking basics One of the most lucrative fields in business, investment banking frequently perplexes even banking professionals working within its complex laws. Investment Banking For Dummies remedies common misconceptions with a straightforward assessment of banking fundamentals. Written by experts in stock market proceedings, this book runs parallel to an introductory course in investment banking. It clearly outlines strategies for risk management, key investment banking operations, the latest information on competition and government regulations, and relationships between leveraged buyout funds, hedge funds, and corporate and institutional clients. With this reference, you can ace investment banking courses and grasp the radical changes that have revamped the stock market since the financial crisis. Thoroughly addresses the dramatic financial changes that have occurred in recent years Outlines expectations to prepare you for the future Teaches the practical aspects of finance and investment banking, how to value a company, and how to construct a financial model No serious business student or banking professional should be without the basic knowledge of issuing bonds, stocks, and other financial products outlined in this excellent resource.

A Wall Street Insider's Guide to getting ahead in any highly competitive industry "Dave learned how to win in investment banking the hard way. Now he is able to share tools that make it easier for budding bankers and other professionals to succeed." —Frank Baxter, Former CEO of Jefferies and U.S. Ambassador to Uruguay "A must-read for anyone starting their career in Corporate America. Dave's book shares witty and valuable insights that would take a lifetime to learn otherwise. I highly recommend that anyone interested in advancing their career read this book." —Harry Nelis, Partner of Accel and former Goldman Sachs banker In The Way of the Wall Street Warrior, 25-year veteran investment banker and finance professional, Dave Liu, delivers a humorous and irreverent insider’s guide to thriving on Wall Street or Main Street. Liu offers hilarious and insightful advice on everything from landing an interview to self-promotion to getting paid. In this book, you’ll discover: How to get that job you always wanted Why career longevity and “success” comes from doing the least amount of work for the most pay How mastering cognitive biases and understanding human nature can help you win the rat race How to make people think you’re the smartest person in the room without actually being the smartest person in the room How to make sure you do everything in your power to get paid well (or at least not get screwed too badly) How to turn any weakness or liability into an asset to further your career

Here is a chapter from Investment Banking Explained, which provides a clear overview of this complex industry. It covers the history, key terms, structures, and strategies of investment banking and breaks the business down into its respective specialties--from traders, brokers, and analysts to relationship managers, hedgers, and retirement planners--illustrating how each contributes to the industry as a whole. This comprehensive guide examines the operations of the world's most successful firms, as well as explains how investment banks are forging their international strategies.