IB/M&A Books
Can anyone recommend good books that talk about all aspects of M&A including valuations.
I came up with a list of books. Do anyone know/recommend any of those?
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Mergers and Acquisitions from A to Z (Andrew J. Sherman Milledge A. Hart)
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Applied Mergers and Acquisitions (Brunner, Perella)
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Making M&A Deals Happen (Stefanowski)
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The Complete M&A Handbook: The Ultimate Guide to Buying, Selling, Merging, or Valuing a Business for Maximum Return (Taulli)
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Mergers and Acquisitions: A Step-by-Step Legal and Practical Guide (Miller)
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Mergers, Acquisitions, and Other Restructuring Activities, Fifth Edition: An Integrated Approach to Process, Tools, Cases, and Solutions (DePamphilis)
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Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions (Rosenbaum, Pearl, Perella)
Thank you!
Manitu
I have found another one:
The Art of M&A, Fourth Edition: A Merger Acquisition Buyout Guide (Reed, Lajoux, Nesvold)
Any opinions?
Can't recommend this book enough
I heard this book is really good, but any point of reading it if I'll already be entering banking this summer?
Its easy to read, but is also superficial.
Damn, it Feels Good to Be a Banker (Leveraged Sellout)
Good books on banking? (Originally Posted: 04/26/2012)
Hey guys I was wondering if anyone has any good readings for someone interested in I-banking. They could be recreational (already read Monkey Business) or educational, I have a couple thousand pages left in my college printing limit and I figured I might as well print out a few books to read during the summer.
Thanks, Kmonkey
This Goldman Sachs reading list? https://www.quantnet.com/goldman-sachs-reading-list/
Wow thats a great list, thank you! Any other suggestions are greatly appreciated.
If you haven't read The Big Short yet that should be #1 on your list. Hard to talk about financial/economic climate these days without knowing what the hell happened in 2007/2008.
Rosenbaum and pearl is very informative on IB and on high finance in general. Also, Liars Poker is a must.
As a technical reference for M&A, "Accounting for M&A, Equity and Credit Analysts" by James Morris is indispensable.
Thanks for all these recommendations guys, I really appreciate it.
Monkey Business for sure.
The Accidental Investment Banker actually talks about what it's like to be a senior coverage banker. A little more technical at times and not quite as entertaining as Liar's Poker.
Both are about working in IBD, with MB being a good quick read while the latter being a more serious book.
Edit: Missed the part where you already read MB. (Reading comprehension...)
Thank you everyone for your suggestions, cant wait to print out a couple hundred pages.
3 NEW Investment Banking Books being released (Originally Posted: 05/01/2013)
This is the 2nd edition of the popular investment banking book by 2 UBS MDs. There will be a new M&A section, a workbook you can buy additionally, and diagrams explaining how to use Bloomberg. However this time, to get the models, you'll need to buy the more expensive edition.
It's coming out right when the new FT and SA class start working.
This book is designed by the founder of the Analyst Exchange or NYSF (New York School of Finance), a finance training company that teaches several financial modeling courses for banks and enrolled students.
It uses a case study approach based on Walmart (WMT) and comes with models, practice problems, and more. It'll be out this summer as well.
How to Be an Investment Banker, + Website: Recruiting, Interviewing, and Landing the Job
The last book is by the creator of ibankingFAQ.com, a popular website to practice your ib interviews. It comes with practice problems and focuses a lot more on recruiting than the previous 2 texts.
This book has already been released.
The Perella book is a great read and focuses on specific points you can't get anywhere else. Thanks Nufc, it is a great one.
Thank you! I will definitely be checking these out over the summer.
Thanks for sharing. I should get the copy of each soon.
good finds
The best valuation book I have ever read is "Investment Valuation" by Damodaran it really teachs the art of valuation.
If you just wan't something lighter there's "Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions" (Rosenbaum, Pearl, Perella)
Investment Banking Books - Interesting book (Originally Posted: 08/12/2006)
Right now I have Barbarians at the Gate, which I got from my school
Working the Street is pretty good. Barbarians at the Gate is classic but will probably go over your head a bit if you're new to the industry. Monkey Business is a good one for wannabe monkeys.
I read Monkey Business in may, a professor of mine suggested it after I expressed interest in IBanking. I think it's a must read for students thinking about IB as a career.
Excellent book. Gordon Gecko read it.
Read: When Genius Failed and F.I.A.S.C.O. in addition to the other good books mentioned here.
Anyone know any good books on the M&A and IPO process? Any help would be apprexiated
Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Rosenbaum
Wiley Finance
Liar's poker?
den of thieves is long, but the best one i've read
Den of Thieves, Liar's Poker, Barbarians at the Gate - all very good reads.
Just read Michael Lewis' new book, The Big Short..I reckon it's hilarious..I've read many others, but this one is just hard to beat. But if you've not read Liar's Poker, do it before reading his new one.
Another recommendation for The Big Short. A Colossal Failure of Common Sense is also pretty good.
Any books that would benefit IB analysts specifically?
Agree. Monkey Business is a good read.
Are there any good books that describe how to get a job in investment banking. I've read the guides from Vault and wetfeet, but didnt think they were all that helpful.
Level one- GAINING CONTEXT: Liars Poker. Barbarians. When Genius Failed. Getting Started in Value Investing (sort of unrelated, but actually more useful than you might think... also very easy to read for total finance newbs). Monkey Business. The first Tycoon.
Level two - TECHNICAL SKILLS & IN DEPTH UNDERSTANDING: Crash Course in Accounting and Financial Statement Analysis. Investment Banking (Rosenbaum). The Big Short. The Partnership. The Black Swan.
Level three - ADVANCED TOPICS: Risk Arbitrage (*nice recommendation from Kenny Powers). Distressed Investing: Principles and Technique.
^once you get to "advanced topics" in the International Pymp lesson plan you can read about pretty much anything weird and you'll at least kind of understand it...
In addition to the Rosenbaum book, Applied M&A by Bruner is great too. I enjoyed Distressed Debt Analysis by Moyer.
Investment banking books for high schooler (Originally Posted: 03/12/2012)
Hi - I'm a high school senior interested in finance and looking into investment banking for a future career. I'm hoping to get accepted and go to Ivey (in Canada for those that don't know). However since that program is just in years 3 and 4, I was wondering if anyone could point me to some good books to introduce me to the subject that I could read in the next two years to make use of the time and get a head start. Don't worry, I'm not being an overly ambitious/idealistic youth, I just don't want to spend the first two years doing nothing.
I know more about the topic than the average 17-year-old, but that's not saying much so the books would still have to pretty much start from scratch, and preferably be something more interesting than a purely academic textbook.
Thanks!
@banker 88: practice makes perfect, the fact that someone already entered the business can only improve understanding
Start by using the search function as these types of inquiries have been covered extensively before. Furthermore, if you're really serious about this, reading DealBook, The Economist, and Financial Times won't hurt. Might be a little tough to understand certain things at your age, so anytime you stumble upon anything you don't understand utilize Investopedia (in most cases). Finally, WSO has some great resources as well and Mergers&Inquisitions provides useful information too.
Don't forget to actually have a life though...
Liar's Poker, by Michael Lewis
Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions, by Josh Rosenbaum (as well as a lot of other books by Wiley Finance, some are great, some aren't, so just read reviews)
Monkey Business is an easy read that's pretty entertaining. The Accidental Investment Banker is another good one, gives you a pretty detailed account of the evolution of the industry and how it's changed over the years.
Here is your strategy:
Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions, by Josh Rosenbaum + Google + Investopedia
Read, look up what you don't know, reread, learn.
You probably would get little to no value from reading a technical investment banking book while still in high school. Even what you learn in school isn't very relevant - those skills really need to be learned on the job.
If I were you I would focus on just getting an idea of what the career entails. I'd read Barbarians at Gate by Bryan Burrough and John Helyar. Its the ultimate IB classic - if it gets you going then IB is probably a good career choice.
Security Analysis and Business Valuation on Wall Street by Jeffrey C. Hooke
The Business of Investment Banking - 3rd Edition by K. Thomas Liaw (maybe best to start with this one since it provides an overview on IBanking)
Read http://www.bloomberg.com as much as possible to keep up with current issues.
Use investopedia for terms you don't understand.
Barbarians at the Gate Too Big to Fail
When I was a senior in high school I read Barbarians at the Gate, Liar's Poker, Monkey Business, and a book about Goldman Sachs.
They helped a little bit, but considering there's not much else you can do it's a good start. I also suggest studying AP micro/macro if you haven't taken the tests already. Might as well give yourself an academic advantage going into college.
I just put an order in for the "Rosenbaum, Pearl and Perella"-book. I think it is one of the essentials you have to have as an investment banker in the beginnig of his career.
Books for IBanking (Originally Posted: 06/27/2013)
What are some good books to help me gain more knowledge about investment banking so i can ace my first round interviews this fall for recruiting ?
http://getintoinvestmentbanking.com/best-investment-banking-books/
Investment Banking by Rosenbaum and Pearl - from the Wiley Finance Series. It is a bestseller for learning the basics and provides a strong foundation for the recruiting process. I'd also recommend the WSO Guides.
Google this: Scoops Practitioner’s Guide to Investment Banking, Mergers & Acquisitions
Read the FAQs! //www.wallstreetoasis.com/FAQ/what-should-i-read-if-i-am-interested-in-investment-banking
I would also recommend Scoopbooks' Investment Banking.
Curious though, if anyone knows how Rosenbaum and Pearls latest version compares to Scoop?
Rosenbaum more application and modeling but less theory
scoop is more theory, no application.
You guys might be interested in my new book, How to Be an Investment Banker (http://www.Amazon.com/How-Investment-Banker-Website-Interviewing/dp/1118487621/ref=sr_1_1?s=books&ie=UTF8&qid=1372616731&sr=1-1) which was just recently published by the same publisher as Rosenbaum/Pearl. It was written specifically to be helpful to undergrads and MBA students preparing for investment banking interviews.
Briefly, chapter 1 is an introduction to investment banking and the work and lifestyle of a junior banker (no bullshit). Chapters 2-4 cover the necessary foundations of accounting, finance and financial statement analysis, including a number of examples of the dreaded, "how does xxx affect the 3 financial statements" interview question. Chapter 5 covers valuation in detail and Chapter 6 walk you through how to build a 3-statement financial model. Chapters 7 and 8 discusses the analysis of M&A and LBOs, respectively and the last chapter covers recruiting and interviewing.
The book is meant to teach you core concepts of IB so that you actually understand how to answer common interview questions and so that you understand the work you will wind up doing as an analyst or associate.
Happy to answer questions if anyone has any.
Andrew
Investment Banking Books? Any Recommendations? (Originally Posted: 12/26/2009)
I was trying to tell my friend about the world of IB at the analyst level, the job, the life etc. but he still does not understand really. He knows what we do as analysts but he wants a much more in depth perspective because he does not fully understand the demands of his career.
I am a starting analyst and he asked me to recommend a book to him that could maybe explain further. The only book I've read is Monkey Business but this gives a better understanding of Associate life rather than the analyst level.
Are there any books that could explain analyst life better?
Check this post from a few days ago. http://www.wallstreetoasis.com/forums/links-to-valuation-books
Incidents in the Life of a 1st-Year Analyst
hahahaha I see what you did there.......Incicdents in the life of a slave girl! Very good.
http://www.amazon.com/Bank-Novel-David-Bledin/dp/031601673X
Fictional story of 1st Year M&A Analyst.
http://gawker.com/016011/the-bitter-investment-banker-email
Accurate description.
Monkey Business, though entertaining, is too outdated to be all that accurate. I'd say blogs and forums such as this one are your friend's best bet.
monkeyjunkie beat me to it. Although you will run into a lot of older professors or industry individuals recommending it, Monkey Business is quickly becoming outdated. Similarly, The Accidental Investment Banker is showing its age, especially with the focus on "breaking into" the UK IB market as a US bank. However, they give a fairly detailed description of the lifestyle, room for relationships, and hardships you could potentially run into at the analyst/associate level. Certainly worth a read...
M&A Books (Originally Posted: 12/07/2007)
Any suggestions for books on M&A (structuring and accounting)?
Thanks.
Thank you for the link...I must have missed this post.
ScoopBooks - The Practitioner's Guide to Investment Banking & Mergers & Acquisitions
It is by far the best one I have read
I-Banking Books (Originally Posted: 08/14/2009)
Hey Guys,
Any suggestions on some books on I-Banking for beginners?
Vault Guide to Investment Banking
Use the search button: SCOOP Books Guide to IB/MA/Corp Fin is the best (blue cover about $100)
Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions
Good IB Books (Originally Posted: 11/12/2008)
Does anyone have any suggestions for good reading before an IB analyst program? Funny and serious books welcome! Thanks!
Gone With the Wind, Hamlet, Jane Eyre
Wait, who edited this thread??? I reco'd Monkey Business, Liars Poker, Accidental Banker and Scoop Books - IB Guide
Is this what it is going to be like on January 20th when the Obama regime begins? Fing fairness doctrine...stop messing with the threads
Need some help: Buyouts / M&A Books (Originally Posted: 12/15/2009)
Hey all,
Anyone know of any books regarding what to look for when doing buyouts / M&A ?
Also, what are some good business books about aggressive business strategies?
Any help will be much appreciated - there are lots of great posts and great information - I have learnt a lot from being a member here so thank you,
ajk5136
The Wasserstein book (art of the deal i think its called) is a behemoth; mostly goes through his story, but has sections going through some of the technical nitty gritty of M&A. Robert Gruner's "Applied Mergers and Acquisitions" goes through M&A deal structuring, etc...for modelling, would buy WSPrep's m&a set...
Check this out for a primer:
http://www.amazon.com/Investment-Banking-Valuation-Leveraged-Acquisitio…
However, if you're looking for something more advanced, check out the titles listed above.
This is by far the best resource that I have found over the years - Its pricey at $100 but comprehensive and straight forward
http://www.scoopbooks.com/ourbooks_2.php
thank you thank you
Recommend some IB-related books (Originally Posted: 01/29/2011)
Can someone recommend some interesting books regarding IB?
what types of books? story type books (something like Liars Poker) or more informative books?
Search WSO...
http://www.wallstreetoasis.com/forums/finance-books http://www.wallstreetoasis.com/forums/investment-banking-books
I'm currently reading Barbarians at the Gate. this book is amazing so far.
I bought "King of Capital - the Steve Schwarzman Story" recently as an audiobook and must say that I found it to be both very entertaining and informative
'Investment Banking. Valuation, Leveraged Buyouts, and Mergers and Acquisitions.' - Rosenbaum and Pearl.
That is an amazing book.
The Accidental Investment Banker is great, too.
Barbarians at the Gate is my favorite... it's about LBOs / M&A / PE.... you'll enjoy it - trust me.
Invesment Banking by Josh Rosenbaum and Joshua Pearl. The best book out there. #1 best-seller on Amazon. http://www.Amazon.com/Investment-Banking-Valuation-Leveraged-Acquisitions/dp/0470442204/ref=sr_1_1?ie=UTF8&qid=1314848673&sr=8-1
http://www.quantnet.com/goldman-sachs-reading-list/ http://www.quantnet.com/master-reading-list-for-quants/
Books/Prepare for I-Banking Analyst (Originally Posted: 06/06/2007)
Hi,
I will be starting as a full time analyst in August at a prestigious investment bank in Manhattan. This is my last summer which I am looking to enjoy to have a clean mind and to be ready for hard work.
I have no direct I-banking experience and I am looking for suggestions for reading, good training or "overview" books, or similar material to make sure I am on top of things...
Thanks for the help!
How on earth did you pull that off with no qualifications?
You don't need any. Do some traveling or drinking right now.
Just pay attention to the accounting, valuation, and modeling sections of training this Summer.
Just enjoy these good days while you can.
Time to learn will be there before you know it.
Don't you receive a mini textbook from the firm to study?
I would definitely check out "10 Steps to Getting A Life"
What investment bank doesn't have summer training?
I worked hard in the past years thats how pulled it off with no experience and from a non-ivy school. I guess I'll just enjoy the summer then. Thx
Here are some books that were recommended by a friend who works at a small boutique here in Bp.
-corporate finance Manual ¦ 6 Valuations, © Wolters Kluwer (UK) 2004
-Private Capital Markets, Robert Slee, 2005
-The Small Business Valuation Book, Lawrence W. Tuller
-Analysis of Equity Investments, valuation, John D. Stowe, etc. CFA textbook
-Buying Your Own Business, Russell Robb
Banking Books and Movies (Originally Posted: 04/10/2008)
We all know about Wall Street, Boiler Room, Liars Poker, and Monkey Business...
What are some of your other favorite books and movies about banking/finance?
I just read "Rigged" which I thought was awesome, kinda reminded me of the DaVinci Code.
Rigged was a sick book. I have a feeling a LOT of it was fabricated though, there's no way that was all true.
haha yea a ton of that seem really far-fetched...good read still
The Accidental Investment Banker by Johnathan Knee
Obscene Gestures of an Invisible Hand is a pretty good read
i feel like ive read this identical thread 45 times on this site
This question has been asked about a billion times on this site, just fuckin' stick it up there already.
So many threads on this... But American Psycho
Ugly Americans is a great book. The author is the same guy that wrote Bringing Down the House.
"Bank" by David Bledin is a pretty hilarious, satirized account of an analyst stint. A great read though.
I am half-way through. Simple read.
I strongly recommend this book: http://www.Amazon.com/Crash-Titans-Merrill-Near-Collapse-America/dp/0307717860
Bank is great. So is American Psycho.
Bank was kind of dumb IMO, so was "Mergers & Acquisitions" by Dana Vachon. Definitely read Barbarians at the Gate and Den of Thieves.
I don't have too much exposure about them while I watch them.
Short - Cortright McMeel. It's about energy trading but still interesting.
Best set of books for any ibanking interview (Originally Posted: 09/16/2007)
http://www.scoopbooks.com/
anyone have any experience with this book? will this be very useful even if ive already read the vault guide? doesnt seem like it has sample interview questions either...
Haven't read it, but I did read Vault IB. Seems to be fairly comprehensive. However, my version has not yet been updated recently.
Any one have other suggestions on books to read? Not only for IB, but general finance/economics as well?
Examples, Freakonomics, Rich Dad Poor Dad, World is Flat and all the other popular ones.
Rich Dad Poor Dad?
I sincerely hope not.
Rich Dad Poor Dad made me lol.
Vault guide (covers basic fit, industry, valuation, brain teasers but found it lacking slightly in the accounting bits) + basic/intermediate accounting stuff (eg: definition and explanation of line items, minority interests, consolidations especially if you are an accounting major).
I bought this book when I first saw someone post about it, and I'd like to say - it's a great tool for technicals.
The Vault guide is great, of course. However, Vault is more diversified, in that there's a section on valuation and financials, options and derivatives, Security Analysis, etc. All of these sections are lightly covered, and equip you with just what you need to know.
Scoopbooks' is more focused around stuff most relevant to banking, such as financials, reason why two companies would merge, accretion/dilution, what kinds of synergies to expect, and valuation techniques that go beyond the standard DCF/Transaction Comps/Trading Comps. On top of that, the entire first half is about what to expect in the ibanking world, culture/fit oriented material, and non-technical information in general. It's not THAT much more in depth, but definitely paints the entire picture, or at least moreso than vault.
For $35, it's a bit steep, but I think it definitely complements the Vault guide in all the technical material. Ideally, you should use both, and if you'd had to choose one, I'd choose vault. But still, this book definitely still has a lot of value to offer.
One last thing - for those that are trying desperately to break into banking, there's a listing of like, 100+ financial services firms and their contact info in the back so you can start calling away.
what're some positive books to read about banking? (Originally Posted: 04/19/2008)
so i've read Monkey Business, the Accidental Investment Banker, liar's poker, and noticed a common theme of "banking/trading is greedy, useless, boring and not what it used to be." frankly, these books kind of make me feel bad about choosing this profession.
are there any banking books that are positive and would actually make me look forward to working for a bank in a few months?
A book that makes a lucrative business look positive wouldn't be a good book.
I have never thought about it that way. You are absolutely right. If Liars Poker did not spend so much time criticizing banking culture I doubt it would be read by anyone but bankers.
hmmm....maybe "Revolt of the Blue Boods: The Fight for the soul of Morgan Stanley"?
"The Last Tycoons" at least made banking seem really glamorous.
I've heard the Goldman Sachs book is pretty positive (some have criticized that it verges on fawning). I haven't read it myself though.
'Barbarians at the Gate' is an objective account of the most ignominous corporate takeover of the 80's and perhaps all time: RJR Nabisco--there are tons of juicy details on the gunslingers of PE and M&A: Wasserstein, Forstmann, and of course the the biggest bad-ass of them all: H.R. Kravis. Trust me, 600 pages and I've read it twice. It's like clash of the titans for aspiring bankers.
I know what you mean with those other books . . . It'd be nice to find a glorifying depiction of banking right?
'Barbarians' will get you ROCK HARD for wall street.
Wow. Ummm, dang! That sounds pretty ... fucking weird!
In fact, I think you should see a therapist.
Not banking specific but I really like Hedge Hogging. I didn't think it was overly rosy or pessimistic, but overall a good read that got me excited for life after banking
Don't read "Barbarians" twice! Being bored out of your head once is enough :)
Last Tycoons is great, but it's so damn long, and heavy (if you get the hardback)
Traders Guns and Money by S.Das!
Well, you could always read one of these, and feel better because you're not a consultant:
Consulting Demons, Inside the Unscrupulous World of Global Corporate Consulting, by Lewis Pinault Dangerous Company, the Consulting Powerhouses and the Businesses They Save and Ruin, by O'Shea/Madigan Con Tricks, the World of Management Consultancy and How to Make it Work for You, by Martin Ashford House of Lies : How Management Consultants Steal Your Watch and Then Tell You the Time, by Martin Kihn The Witch Doctors: Making Sense of the Management Gurus, by John Micklethwait and Adrian Wooldridge Rip-Off! The Scandalous Inside Story of the Management Consulting Money Machine, by David Craig
Most of these books aren't quite as bad/biased as their titles sound (I've read the first five)...but banking isn't the only high-level business profession with an image problem.
Big Deal by Bruce Wasserstein
Isn't it kind of weird to ask for literature that will reinforce your opinion?
Banking books (Originally Posted: 05/01/2013)
Has any one read Valuation: Measuring and Managing the Value of Companies by McKinsey & Co and how does it compare to Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Rosenbaum.
What are some good books to read for someone wanting to go into a lev fin group.
If you care at all about practicality, you get Rosenbaum and Pearl's book. The McKinsey book is interesting, but it is case study based and quite academic IMO.
I have pdf versions of both. PM me if you want a copy.
or... he can just copy paste the name of each book in google search and find pdf version under 1 minute however, nice of you to offer them
PM me if you need those.
it's pretty awesome but I feel most people in the industry never read the book... Not necessary to read if you want to land a job, but useful if you want to really understand what value is and what drives prices.
I think their smaller book just titled VALUE is better.. Also a lot of stuff they write about is done differently in banking..
McKinsey is very good and theoretical and you'll get a good handle on how valuation should work. It will give you a good background that will allow you to see inconsistent and unrealistic assumptions in models.
Rosenbaum and Pearl is a practical guide to how things are done, somewhat ignoring the theoretical underpinning.
Thanks a lot guys and I found the pdf copies as animalz suggested
I read both last year. Rosenbaum and Pearl is a great book to start off with. McKinsey goes a little bit too deep at times, but provides a view of the theoretical underpinnings of valuation that you won't find in any other book (or classroom). If you understand the concepts laid out in the McKinsey book well, things like why operating and non-operating assets are treated differently in valuation, you will be head and shoulders ahead of most of your peers.
Protip: chill the f*ck out and stop spamming all the Rosenbaum threads.
Investment Banking Books - Compiling a list of good investment books (Originally Posted: 01/24/2008)
I think it would be helpful to complie a list of good Investment Banking/Wall Street themed books. Anyone read anything good lately? How about recommendations for prospective monkeys looking to learn about the business?
I'll start with my own reading list:
Liar's Poker
Bonfire of the Vanities
Bank
The Accidental Investment Banker
When Genius Failed
Monkey Business
Feel free to add to the above list. I linked to Amazon so people can get quick summaries/book reviews.
i couldn't finish liar's poker. I got bored?
ditto. Loved Monkey Business though. Also, a REALLY good book imo... Confessions of Wall Street Analyst. Gives some good insight on how the street really works/worked, and alot of the ridiculousness of the 90's. Also gives a decent technical overview.
Wow, this book is what all we have to do when at university, here in China, no matter what you major you are,
Marxism, including his philosophy and econ.theory are required courses for graduation...
Frankly speaking, it really sucks.
it only ruin you dreams about Money, capital and everything about....
Sorry guys - didn't mean to include Das Kapital as a good read - never read it myself. It was just a good picture of a book. Trying to find a better one, but I can't figure out how to delete the original image...
EDIT: Figured it out.
oh, I read a abook 《F.I.A.S.C.O.》,it's novel about Wallstreet life, worth reading. Written by a insider, it's a book which brokedealers and fund managers don't want people to see.
Liar's Poker was boring for me as well. I liked Monkey Business, but I took the guy's perspective with a grain of salt.
Anyone know of any books that would you help you with the job itself (valuation, modeling, etc)? One that I have is
'Damodaran on Valuation' written by NYU Stern's Prof Damodaran. It's good but extremely packed and hard to get through.
McKinsey's valuation book - "valuation." good at describing the "why" for things.
Bonfire of the Vanities is a great book, but really isn't centered around high finance in the way that other selections in your list are.
The Accidental Investment Banker - John Knee
The Accidental Investment Banker was in his original list.
I would add The Predators' Ball by Connie Bruck though.
um...I want know some good sites of learning english for foreigners, anyone know? Thanx
frank: is there IBs in mainland china? I mean, if you need $ you go to the state... everything is done through the state no?
No, When i need $s, i go to commercial bank, lots of banks including Citi and Charterd Standerd etc.
State can do nothing for me..
In China, commercial banks and IBs are divided in operation, and IB here is called securities comapany.
I am with a securities co.
Can't be missing Barbarians at the Gate: The Fall of RJR Nabisco
The Predators' Ball: The Inside Story of Drexel Brunham and the Rise of the Junk Bond Raiders
Den of Thieves
The Last Tycoons: The Secret History of Lazard Freres & Co.
The Greed Merchants: How the Investment Banks Played the Free Market Game
Blood on the Street - Gasparino
Goldman Sachs - Endlich
Blue Blood and Mutiny - Patricia Beard
Greed Merchants was just terribly written, I couldn't finish it. Connie Bruck's book had interesting subject matter but wasn't engaging enough - I only got about 2/3 through it. Den of Thieves covered some similar material and was a little more engaging, in my opinion. Both books are pretty negative on Milken. There are many people who believe Milken was a genius and didn't deserve the jail time. Unfortunately all the pro-Milken books are out of print, I think they can be found on Amazon, though.
I need to get my hands on some pro-Milken books and see what they're like. Could you name a few please.
I haven't read this, so no idea if its any good or even accurate.
Payback: The Conspiracy to Destroy Michael Milken and His Financial Revolution by Daniel R. Fischel (Hardcover - Jul 1995) http://www.amazon.com/Payback-Conspiracy-Destroy-Financial-Revolution/d…
Really good chronicle of how this guy randomly wound up in an equity research position in the 80's, went to Morgan Stanley and experienced all the craziness of the 90's with the bubble and all first-hand.
In general I've found the books written by outsiders who end up in banking/finance to be more insightful than the ones written by those who have lived and breathed finance their whole lives. Accidental Investment Banker, Wall Street Meat, even Liar's Poker (to some extent... wasn't one of them a non-banker before?). Or maybe I'm just being Fooled by Randomness...
You should read Company and Investment Valuation by Bottura, better than the materials they give you during analyst training
Starting New Job in 3 months; need books to read (Originally Posted: 10/18/2015)
Hi Everyone,
Frequent lurker, first time poster.
I am starting a graduate IB role in Sydney, Australia in a few months and as I have no previous experience in pure Investment banking I was wondering whether someone can recommend any good books that I can read so that I am a step ahead.
Specifically the role will include rotations in the following: M&A (mainly mid market) financial modelling & Analysis Transaction Advisory services Valuation services
I am looking for content that covers what I will actually be doing in the role, rather than a theoretical approach, but I'd appreciate any help really.
Thanks!
Bump
bump
Investment Banking by Joshua Rosenbaum
Thanks ^! Bump, any others?
How many times are you going to bump this? You do not need to read any books. If this is a reputable bank, they will provide you with training. You could go into training with no knowledge about accounting or finance and still perform well after training.
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