Investment Banking: Valuation, LBOs, M&A, and IPOs

by Joshua Rosenbaum, Joshua Pearl, Joseph R. Perella (Foreword)

A timely update to the global best-selling book on investment banking and valuation. The new 3rd edition reflects valuable contributions from Nasdaq, the leading U.S. exchange and technology provider for IPOs and new listings, and global law firm Latham & Watkins LLP. In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one was able to take the time to properly codify its lifeblood--namely, valuation and dealmaking. Rosenbaum and Pearl originally responded to this need in 2009 by writing the first edition of the book that they wish had existed when they were trying to break into Wall Street. Investment Valuation, LBOs, M&A, and IPOs, Third Edition is a highly accessible and authoritative book written by investment bankers that explains how to perform the valuation work and financial analysis at the core of Wall Street--comparable companies, precedent transactions, DCF, LBO, M&A analysis . . . and now IPO analytics and valuation. Using a step-by-step, how-to approach for each methodology, the authors build a chronological knowledge base and define key terms, financial concepts, and processes throughout the book. The genesis for the original book stemmed from the authors' personal experiences as students interviewing for investment banking positions. As they both independently went through the rigorous process, they realized that their classroom experiences were a step removed from how valuation and financial analysis were performed in real-world situations. Consequently, they created this book to provide a leg up to those individuals seeking or beginning careers on Wall Street--from students at undergraduate universities and graduate schools to "career changers" looking to break into finance. Now, over 10 years after the release of the first edition, the book is more relevant and topical than ever. It is used in over 200 universities globally and has become a go-to resource for investment banks, private equity, investment firms, and corporations undertaking M&A transactions, LBOs, IPOs, restructurings, and investment decisions. As the world of finance adjusts to the new normal of the post-Great Recession era, it merits revisiting the pillars of the second edition for today's environment. While the fundamentals haven't changed, the environment must adapt to changing market developments and conditions. As a result, Rosenbaum and Pearl have updated their widely adopted book accordingly, while adding two new chapters on IPOs.

Genres: Finance, Business

474 pages, Kindle Edition

Published March 20, 2020

Reviews

[Lujo · Rating 5 out of 5]

Preporucam svakom kog interesuju financije!😎👍

[Benedikte · Rating 5 out of 5]

I can see why the call this the bible! I read it cover to cover but I think it will work well as a reference in the future. After having done the CFA, I thought this was super clear and concise with good illustrations. I haven’t downloaded the models yet but will do that next. Super!

[Harrison Kimatian · Rating 4 out of 5]

Great book and very in depth. Will definitely be a book I refer back to.

[Aleksander · Rating 5 out of 5]

High quality in depth overview of Investment Banking

Learned more from the book than during my summer internship as an investment banker last year. Highly recommend it to all aspiring Investment Bankers or Private Equity associates!