And Mergers and Acquisitions - Leveraged Buyouts

This book really contains the exact knowledge and skills you will find for your intern adn job in financial field, especially in investment and analysis area. It can really help you to walk through it step-by-step.

If you want to learn how academics think valuation should be done, read Damodaran's "Investment Valuation". If you want to know how valuation is carried out in practice in the M&A market, read this excelent book (don't misunderstand me, Damodaran's book is also very good).

Very good read for someone in corporate finance like myself entering a biz dev/strategy role. An easy read with great illustrative examples. It was very practical in essence. Unlike another reviewer, I didn't find much value in the added Bloomberg samples given my current role, but I could see where it could be of more use to someone getting into IB. It would have been nice to have some free interactive examples, like a website or CD based problem set rather than having a separate workbook.

Rosenbaum and Pearl provide a valuable resource in a format that is easily grasped by the non-investment banker. I found this book to be well written and a good addition to my overall knowledge of the world of finance.

Investment Banking is a great book! It discusses valuation in detail and it is answering many questions that I formed during finance classes. Good for investment banking as well as other investment management purposes.

Excellent book! A masterpiece that I highly recommend to co-workers looking to develop a strong foundation in valuations used by private equity funds. This book will be in my professional reference library for a long time to come.

Although written with M&A analysis in mind, this seems to be a great introduction to finance, whatever your interests (although without finance and accounting 101, you might move a little more slowly at first).

I expect this is required reading for aspiring analysts and a great reference for all analysts.

Great read. Super helpful for my investment banking interviews. Had clear analysis regarding how each valuation methodology worked, including pros and cons of each. I think this book is great for anybody wanting to understand how valuation works at a high level and a great read for people who want to understand how to build each of these valuation methods in excel as an intern or analyst. Best of luck!

This book is a must! Its helps you understand what you need to know about investment banking. After reading it i got a deep knowledge of many stuffs especially on the financial ratios and key statistics part!

I like this book because the authors aren't speaking in some foreign language that can tend to alienate the reader. The authors successfully explain the "lingo" of investment banking in a way that makes this book an easier read. I will be introducing this to my business finance class starting next academic school year as a parallel text.

A very solid conceptual introduction to the valuation techniques utilized in investment banking. Although it comes with empty and completed Excel model templates, I would not recommend it as a financial modeling self-study resource. However, as mentioned before, the conceptual content is very solid and grounded in real-life practice.

The materials covered in the book gives a good insight on how valuations are done in the real M&A world. The excel models provided are handy, and provide a useful framework for people interested to learn more about i-banking but know not where to start.

I bought this book while trying to improve my technical understanding of IB for the purpose of breaking into banking. This is a really helpful book that is really giving me a more complete picture of the services that investment banks provide. A great book to start off w/ if you want to learn more about M&A, and Valuation.

RA

My husband recently graduated from an Ivy League MBA school and had a concentration in Finance. He wished he had found and read the book earlier on. He learned more from this book than from most classes he attended.

I'm amazed.. where was this book all this time..!? A must read for all finance professionals. It should be called "The Valuation Bible"
Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions (Wiley Finance)

Great timing, great execution! This book is perfectly suited for these turbulent times. It provides a comprehensive overview of valuation and capital markets in easy-to-understand terms. I recommend this book for anyone who wants to understand how Wall Street determines value for companies.

Great timing, great execution! This book is perfectly suited for these turbulent times. It provides a comprehensive overview of valuation and capital markets in easy-to-understand terms. I recommend this book for anyone who wants to understand how Wall Street determines value for companies.

I bought the 1st Edition 3 years ago. The financial models came with the edition and were available on a Wiley website. Now Wiley has decided without notice to discontinue access to the website. This is obviously an attempt to get you to buy the new financial models which are priced at $95. That is more than the original cost of the 1st Edition which included the models. This is plainly dishonest

As to the book. Good intro to financial modelling. Models are basic to intermediate, but easy to follow.

This is an excellent book on the heart of investment banking. There are many fun books that introduce the worlds of investment banking, what it is, what they do, etc. Once one has learned about the basics of the industry, the next step is to master the technical skill set, or the art, or financial modeling and analysis. Everything that bankers do is grounded in valuation theory and corporate finance. These are the hard skill sets that are not taught in either undergraduate curriculum or even graduate school, regardless of if you go to HBS or MIT or INSEAD. Coincidentally, most of the end users of such books on modeling and valuation are the very same students that attend the like of Wharton that aspire to become senior career bankers.

When I first got into this world there were no books on the subject (roughly back in the early 90s). Now with this one book anyone aspiring to be a world class technical banker can acquire the skills thru self study. I have also used the same financial modeling vendors that the actual banks use to train new Analysts and Associates. This one book is an excellent addition to the limited literature on self-study financial modeling and analysis done, which is the core transferable skill set at the junior banker level. The heart of modeling is what helps departing Analysts transition to buy side positions such as hedge funds, mutual funds, buy-side research, endowments, and other institutional investors.

This book is perfect for the completely uninitiated. Whereas I had already had an extensive background in the subject, I honestly feel this is the perfect unassuming intro for all the liberal arts majors that want to experience life in high finance. Literally everyone agrees that mastering banking is a "craft" and apprenticeship business in which the senior most banker passed on his expertise and judgement to the junior resources. However, books such this one allow enterprising junior resources to master most of the technical, hard skill aspects of the job without spending 3 years as an Analyst or Associate. Nothing beats actual deal experience, but this book makes the learning curve much less step in a very intimidating and challenging industry for new hires.

On a final note, this book is technical enough that someone with a very extensive background can still benefit from the material. Despite having been self taught most of the valuation methods and mastering them, this book single handedly is my reference in actual consulting projects that I do in my part time. I would refer this book to any undergraduate, MBA student, newly minted M&A lawyer, accountant, corporate development professional, or anyone else because the essential skill set of financial modeling and valuation theory is at the heart of all these disparate types of positions.

With this one book I can mentor all my friend that are majoring in finance and teach them what took me years to learn piece meal when such information was non-existent and extremely proprietary and difficult to come by.

When I was in college this was the most comprehensive textbook on financial and LBO modeling. I read this book in my Mergers and Acquisitions class and I learn more in this one textbook then from the lectures. Every penny spent on this book is worth the investment. Save your time and effort looking for other textbooks or books on financial modeling this one book has everything covered on the topic. I keep reading over the book after college because I want a career in finance. These books are relevant now as they were in college. Joshua Pearl and Joshua Rosenbaum wrote a masterpiece on valuation and financial modeling.

Since Rosenbaum and Pearl first complied this 'magnum opus' guide to investment banking valuation, modeling and core banking topics in 2009, I have consistently recommended this book to students I speak with who are interested in careers in investment banking.

As a finance professional I have seen a variety of wall street training programs (both in-house and outside providers), led training programs for new bankers and worked with various providers; I can say without hesitation that this book covers the key topics covered in said programs -- and this is required reading for any undergrad who wants to compete for banking positions in what remains an extremely competitive hiring environment.

Over the years I have compiled a vast library of finance textbooks covering M&A, valuation, credit analysis, bonds, leveraged finance, etc -- there simply is no other book that better prepares analysts- or associates-to-be than Rosenbaum and Pearl's book; it is highly accessible, well-written and laid out and covers all the key banking aspects expected of incoming bankers.

Five stars and a must read.

A must read and practical application of valuation techniques and M&A’s. It is well-written and explains concepts extremely well. This text appeals to a wide audience, to those who have a limited financial background, career changers who are looking to break into Wall Street, and those who are pursuing undergraduate and graduate degrees. This book is a reference to working professionals and a great refresher that helps refine your knowledge. It also helps you brush up on skills that cannot be taught in the classroom and provides both breadth and depth of detail that cannot be matched by other financial texts. This text is highly regarded and useful and I would strongly recommend it to both practicing and the next generation of investment bankers.

Coming from an Economics Major, I found there was a missing connection between academia and what was being asked in some of the interviews I had been to. Realizing this problem I was doing any and everything to brush up on Valuation techniques to land my dream job. In my search I stumbled upon the first edition of Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions. It was so helpful that as soon as the second edition hit the market I bought it ASAP. With the help of the Second Edition I have successfully landed 3 interviews in IBD and have nailed every one of them. If you are interested in a career in IBD I implore you to read this book. It will change your life as it has mine.

Side Note: I had the pleasure of meeting both Mr. Rosenbaum and Mr. Pearl at a conference recently. Aside from coming off as two of the more "down to earth" speakers that day, Mr. Rosenbaum delivered a speech so well that it commanded a standing ovation from the crowd. The two authors came off as superior intellects with an unmatched knowledge of the world of Investment Banking.

If you want to do Investment Banking, think you want to do Investment Banking, or just want to learn about finance, this book is an absolute must read. It takes you step by step through what to look for when doing company valuations and how to do the most popular valuation methods. It is very user-friendly and understandable. As a sophomore in college and a beginner in the industry this book was the perfect resource to learn the technicals of what investment bankers do. This book can give you the edge you need when it comes to interviews. Also, I had the privilege of meeting Joshua Rosenbaum and Joseph Gasparro, a contributor to the book, at an event at my school and they were great to talk to and were really down to earth. Both provided fantastic insights, were very approachable and were very interested in helping others who are pursuing a career in the industry.

As a detailed discussion of valuation in the M&A context, this book is a gem. It summarizes the various approaches, and the chapter on the M&A process is correct and adequately detailed. The links to online models were especially helpful, and we are making this book required reading for new analysts at our boutique M&A shop.

For those interested in understanding the theory behind valuation, Aswath Damodaran, "Investment Valuation" still has first place. And for those who need to value non-standard assets (oil & gas, real estate, insurance companies) Jeffrey Hooke, "Security Analysis on Wall Street" remains essential.

I recommend the book Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions as it dives into in depth analysis and would provide candidates enough knowledge to not only get the job, but succeed in the future. Each chapter covers all of the major transaction and deal analysis with concrete examples and easy to understand instructions, from DCF valuation to LBO’s. What also separate’s this book from others in banking are the highly acclaimed backgrounds of the authors. I especially enjoyed chapter sevens detailed analysis of the buy-side M&A process, walking through each step of the process.

"The author's have written the ultimate nuts and bolts guide for valuation. It is the book that every business student should study and every investment banker should use.Great inside detailed information followed by case by case scenarios in an up-most clear and concise manner."
-- Paulo Ritta Stroud-Baranda, Independent Associated Researcher, University of Mount Royal, Calgary, Alberta, Canada. and Investor.

I attended a two week investment banking seminar in 2009 and the seminar renewed my interest in the area. I chose to read this book to supplement the curriculum from the seminar. The information presented is extremely accessible. Probably one of the best books on the modeling aspects of LBO and M&A. There is not much more to say than I highly recommend this book as you will not be disappointed!!!

Finally, there is a book that truly addresses the need-to-knows about investment banking and truly a must read for anyone interested in a career in banking or just learning the core valuation skills that any successful analyst has to have. As a recent graduate I used this book above all my other scholastic materials to concentrate on my valuation skills and prepare for all of my finance related interviews. The student finance organization that I was previously a part of now uses it for each and every new member. Essentially, it is a must read if you want to gain an in-depth knowledge of what analysts are really learning on the street. And unlike many of the text books you read in class the style is more reader-friendly and you can tell that you are learning from individuals who have actually used valuation in practice versus the more theoretical approach you will receive in the class room.

Rosenbaum and Pearl's book on all things of investment banking, is a home run on several levels. As a college student, I chose to implement the book as the bible for our $110,000 student-run mutual fund. The first chapter sets the framework for the style in which the book is written - clear, concise and in depth, like no other IB/Val. book. The book walks through all of the essential valuation techniques like DCF, which my peers and I used to place our own price targets on equities. Thus, this book is be used as a tool to better manage our risk/return of the mutual fund which beat the market in 2009, but also serves as a flawless guide for understanding the investment banking/corporate finance universe.

If you are seeking to learn about investment banking, business finance or how to value companies and even personal assets, Rosenbaum and Pearl's Investment Banking: Valuation, LBOs, and M&A book is the only way to go.

A must-read for finance majors or anybody interested in a career on Wall Street. It explains key concepts clearly and concisely, using detailed step by step summaries to guide you through the process of valuing companies. To me, these summaries are really the backbone of everything this book set out to explain, as the approaches used were more informative and detailed than just about any other finance textbook I studied during my undergrad. This book more than exceeded my expectations.