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Investment Banking Explained: An Insider's Guide to the Industry
Insider guidance to the modern world of investment banking today
In Investment Banking Explained, Wharton professor and global financier Michel Fleuriet provides a complete overview of investment banking in its modern form; defines key terms; identifies structures, strategies, and operational aspects; and analyzes the strategy in each of the main functional areas of an investment bank.
In Investment Banking Explained, Wharton professor and global financier Michel Fleuriet provides a complete overview of investment banking in its modern form; defines key terms; identifies structures, strategies, and operational aspects; and analyzes the strategy in each of the main functional areas of an investment bank.
368 pages, Hardcover
Published July 17, 2008
43 people are currently reading
357 people want to read
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Displaying 1 - 4 of 4 reviews
June 26, 2011
Target Audience: "I wrote this book to demystify the workings of investment banks. If you are in touch with one side or another of an investment bank--whether you are a customer, supplier, professional, or competitor--I hope that this will enable you to negotiate your way more easily. It has also been my goal to explain how investment banks really function for the many business school students who go into investment banking each year. They need to be iexperts in their area, but they also need to know what the other areas of the bank are doing if they want to be involved in solving the complex financial problems of their clients. This book should answer the many questions asked by senior executives who are selecting an investment bank.Finally, I hope that my experience in the business will prove useful for my colleagues in any of these institutions who are still wondering what the heck happens here and what course of action they should be taking in light of what investment banks have done in the past, and are doing now."
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About the Author: "Michel Fleuriet is currently an associate profesor at the University of Paris-Dauphine. He is also a visiting professor with the international business schools in China (CKGSB), Brazil (FDC), and the United States (Wharton).
Fleuriet spent hhalf of his professional career in the academic world and half as an investment banker. He started his career as a lawyer at the Paris bar....."
He became an assistant, assistant professor, and professor of finance at leading business schools in France, held executive positions at major investment banks.... he can walk down the aisle and receive diplomas in his sleep and eats them for breakfast. yada yada yada.....
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In other words, simply put, this guy got skillz! This author is extremely intelligent in this topic and it shows. This book appears to be have been proof read by financial and literary gods, it is seemingly perfect in every detail you could ever hope for in a professional, informational, and educational business book that is thorough with notes and sources.
While this book is not my favorite financial, business, investing book, I have to say it is by far the best book I have ever read. Thoroughly enjoyed and this is the first and foremost recommended book on investment banking I recommend for anyone.
He holds no bias. This book does not glorify nor vilify anyone or anything mentioned. All content, sources, examples, and statistics are presented to the reader to form their own opinions, and learn how and why investment banks work.
One of the more fascinating things I learned in reading this is the apparent cat and mouse game between investment banks, and commercial banks. As well as empathy and sympathy that comes with better understanding banks for what they are and how they work, rather than blindly damning them or praising them for what they do.
This would be the financial/business banking equivalent of a book on juvenile delinquency. Ironically in some cases, this is exactly what it is!
__________________________________________
About the Author: "Michel Fleuriet is currently an associate profesor at the University of Paris-Dauphine. He is also a visiting professor with the international business schools in China (CKGSB), Brazil (FDC), and the United States (Wharton).
Fleuriet spent hhalf of his professional career in the academic world and half as an investment banker. He started his career as a lawyer at the Paris bar....."
He became an assistant, assistant professor, and professor of finance at leading business schools in France, held executive positions at major investment banks.... he can walk down the aisle and receive diplomas in his sleep and eats them for breakfast. yada yada yada.....
____________________________________________
In other words, simply put, this guy got skillz! This author is extremely intelligent in this topic and it shows. This book appears to be have been proof read by financial and literary gods, it is seemingly perfect in every detail you could ever hope for in a professional, informational, and educational business book that is thorough with notes and sources.
While this book is not my favorite financial, business, investing book, I have to say it is by far the best book I have ever read. Thoroughly enjoyed and this is the first and foremost recommended book on investment banking I recommend for anyone.
He holds no bias. This book does not glorify nor vilify anyone or anything mentioned. All content, sources, examples, and statistics are presented to the reader to form their own opinions, and learn how and why investment banks work.
One of the more fascinating things I learned in reading this is the apparent cat and mouse game between investment banks, and commercial banks. As well as empathy and sympathy that comes with better understanding banks for what they are and how they work, rather than blindly damning them or praising them for what they do.
This would be the financial/business banking equivalent of a book on juvenile delinquency. Ironically in some cases, this is exactly what it is!
July 26, 2018
My 2 cents:
Some history, some technical details...all rolled up into one text.
Curiously, this was published in 2008, right around the financial collapse. Or, should I say, the most recent financial collapse. The author lauds VaR, another statistical analysis tool that was actually another nail in the financial coffin.
The book is good, IF you already have a handle on key concepts. And, if you do not, this is not really the book for you. Not really ideal for the novice because it glosses over several key concepts (underwriting, differentiating between investment and commercial banks, etc). But, if you have a second source to help with key terms, then you should be ok.
It was interesting to read about the long history of banking, in all its forms.
But it was also disturbing to read the many cases where banking just messed up, partially because of misplaced belief in "experts", partially because of total, outright greed. And greed it is...and we continue to have it. There are NO ultimate protections from the financial industry, no matter what your expertise.
That's my story, and I'm sticking to it.
Some history, some technical details...all rolled up into one text.
Curiously, this was published in 2008, right around the financial collapse. Or, should I say, the most recent financial collapse. The author lauds VaR, another statistical analysis tool that was actually another nail in the financial coffin.
The book is good, IF you already have a handle on key concepts. And, if you do not, this is not really the book for you. Not really ideal for the novice because it glosses over several key concepts (underwriting, differentiating between investment and commercial banks, etc). But, if you have a second source to help with key terms, then you should be ok.
It was interesting to read about the long history of banking, in all its forms.
But it was also disturbing to read the many cases where banking just messed up, partially because of misplaced belief in "experts", partially because of total, outright greed. And greed it is...and we continue to have it. There are NO ultimate protections from the financial industry, no matter what your expertise.
That's my story, and I'm sticking to it.
August 1, 2011
This is an excellent introduction to the operations of investment banks. For someone with my level of understanding of finance, there was just the right amount of explanation to make the text informative without being over my head. It was surprisingly readable, with plenty of real world examples thrown in to spice up the narrative.
March 4, 2019
Poorly structured, lots of unexplained jargon, missing rationale behind some actions. Don’t be fooled by “strategy” chapters - they describe design choices rather then dwell on competitive strategies
Displaying 1 - 4 of 4 reviews