BEST Valuation/Modeling Books

good call on the CFA reference, I was in a hurry writing the original post. Meant to mean IN level II of CFA program...

If you knew me you wouldnt question my integrity I promise.

MichaelHutchens:

Enrique Arzac

http://www.amazon.com/Valuation-Mergers-Buyouts-Restructuring-Finance/d…

Damodaran

http://www.amazon.com/Damodaran-Valuation-Security-Investment-Corporate…

I have the McKinsey & Co. book on Valuation- find it a little basic.

Thanks all, much appreciated!

rmivalue:

is

Enrique Arzac

http://www.amazon.com/Valuation-Mergers-Buyouts-Restructuring-Finance/dp...

and

Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions (Wiley Finance) (Hardcover) by Joshua Rosenbaum

any good?

I have been using the Rosenbaum book throughout my SA stint. It is a great reference book/step-by-step instructional. Very practical.

Thank you. Would it make sense to read the corpfin book before the valuation book? Or are they independent?

Any other opinions would be greatly appreciated.

http://macabacus.com/

incredible resource and 100% free

I agree that Damodaran is the way to go. Read Valuation before CorpFin, to get solid understanding of basics and theory before drilling down into more specific issues.

Heh. Then glad I asked. I would've thought CorpFin should come first. Thanks.

For formulas and how-to's Investment Banking (Pearl and Rosenbaum) For discussion Valuation (McKinsey)

I didn't rly like Investment Valuation by Damodaran, but if you want to become an expert you have to read many books ... On the academic side Investments (Bodie, Kane and Marcus) Principles of corporate finance (Brealy, Myers et al.)

And some papers like Luehenberg on APV and Ruback on Capital Cash Flow

But I should start with one of the academic books, right?

I've always thought that getting an academic base is extremely important, and makes learning more practical methods easier. That being said, I agree with Kraken that Pearl & Rosenbaum's Investment Banking is a great resource. Investments (B, K & M) is also pretty good but not at the same level as the other two books. I also recommend options, futures & derivatives by Hull if you have any interest in that area.

fuck aswath damodaran and his stupid textbooks and his stupid tweed jacket with leather patches

naaa just kidding..its all good, what are you trying to learn? vault guide to finance is an introductory lesson to stocks, bonds, valuation, etc. then move up from there

You guys think I can jump straight into Damodaran's lectures if I've already been through BIWS?

What am I trying to learn? Well I learned financial accounting as a background for finance so whatever would come next really...

Investment Valuation is a very solid book. I like the way it's split (basically valuation methodologies are split by asset class / deal type). There are lots of examples and very good academic work. It was basically my favourite working book in business school. It still sits behind my desk, even though I've only referred to it once since I started working :)

hell yeah stern pride. happy trolling day lol

Damodaran is a God

I think it depends on your needs. If you start out with Damodaran, you will get to know only one niche of the world of finance. If you have plenty of time, I would recommend Brealey, Myers Allen: Principles of corporate finance. We read that in university, it's incredibly well written, at times rather amusing, and it gives you the big picture. You might want to do some exercises, that's the way to learn the application of the theories. After finishing BMA you can take a look at either Hull (if you are interested in derivatives / trading) or Damodaran (IBD). But if you just read Damodaran you won't even know what the Black-Scholes Model is and that might cause you to get dinged in an interview.

Damodaran is a solid book. WOnt regret it.

You can watch Damodaran's entire class lectures for free here: http://www.academicearth.org/courses/valuation

Along with hundreds of other free lectures from core schools and a plethora of various material.

Silver bananas welcomed.

Sorry to bump this again but I'm deciding between the Brealy and Myers book and the Damodaran lectures for corporate finance. I'm worried about only using the lectures because the course uses his book Applied corporate finance rather than a book that focuses on more of the basics. Does anyone have an opinion on this?

principles (¿or fundamentals?) of corp fin brealy myers is considered the corp finance bible ... and i may be quoting the McKinsey valuation book...

i haven't read applied corporate finance.

just get the schaum's outline (haven't read it neither) and solve 300 problems ... then you can keep reading books for fun ...

Download and read this whole book and you will be set for any IB interview.

http://www(dot)mediafire(dot)com/?kok3myivtdj#1

Isn't that a song - "Damodaran" by Night Ranger

DAMODARAN What's your price for flight In finding mister right You'll be alright tonight

hi guys

i majored in finance but want to review a textbook before i start work (BB IBD analyst) this summer. i have both damodaran's applied corporate finance and brealey myers allen. which one should i skim/read? i've heard applied corporate finance is used by Morgan Stanley's analysts-- so i'm leaning towards this one!

thanks

corporate finance: A Valuation Approach by Simon Benninga ,Oded Sarig , please help me to download this book

What are the most useful books or guides to learn accounting the best way for ib interviews?

I have Financial Accounting by Libby, Libby, Short - does that suffice? Comprehensive enough?

This is supposed to be a great one. Apparently it comes with a helpful CD as well:

http://www.amazon.com/Financial-Modeling-Simon-Benninga/dp/0262026287/r…

I would say Best Practices for Equity Research Analysts is more for people that already know how to model and conduct research. Not sure about the other books you mentioned, but I think the BIWS modeling course is very helpful for ER as well.

I think the BIWS modeling course is very helpful for ER as well.

http://www.ldsmusicnow.com

Anyone got PDF's of the books above? Please PM me. :)

Does anyone have any book recommendations for analyzing financial institutions specifically? Thanks.

What are you interviewing for? If it's a matter of an analyst position, they won't expect you to do anything hefty beyond a simple comps/DCF valuation.

For anything more advanced, pick up a copy of Simon Benninga's Financial Modeling. Alternatively, get some finished models and just practice rebuilding them over and over again.

https://sphotos-b.xx.fbcdn.net/hphotos-snc6/s720x720/268373_10151338311…

^That's probably the only book you need for interviews. I don't think anyone expects a college kid to know that much.

p.s. That picture is from the WSO conference, if you're wondering.

http://macabacus.com/

prob the best resource out there

Rosenbaum and Pearl includes completed and blank templates for various valuation methodologies (these are online and the password is in the book), so you can learn about the methodologies and then build up your own model using financials and the templates (though it is tough without access to Bloomberg, CapIQ, other financial data service subscriptions).

http://www.scoopbooks.com/

this

i would combine macabacus and go through it with Rosenbaum

Try Expectation's Investing by Micheal Mauboussin. I've only read another book of his, but it was pretty good and the Amazon reviews say this one deals with ways to incorporate market expectations into the investment process. The other big one that comes to mind is the Alchemy of Finance by Soros, which is a completely different beast. If you want to deal with perception and value though, you definitely want to try that.

Rosenbaum, BIWS, WSP...

Read the guides that are online available. The next step is to read guides that elaborate on technical issues.