BEST Valuation/Modeling Books
Hey all,
Im trying to brush up on my financial valuation/modeling skills for a new role valuations for large oil/gas company. Can you recommend some good reading/reference learning material???
PS - Ive already done Wall Street Prep and am level II CFA...
Thanks,
http://www.scoopbooks.com/ourbooks_2.php
You should re-read your "ethics" book. You're violating the standards in the way that you are referring to your candidacy in the program.
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.
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!
http://www.amazon.com/gp/product/0470442204?ie=UTF8&tag=wwwibdprepcom-2…
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.
2nd that, have it in my desk now. great reference.
hi guys. Just looking for a 2010 opinion on this. I have the Rosenbaum book on the way as well as some others out of interest. Was looking for a 2nd book on IB, M&A, etc.
I've read all the main amazon reviews for Damo, Arzac. Does anyone have any opinion on these two if I were to choose one? It looks like I might end up with Arzac bc Damo is supposed to be more 'academic' and 'theoretical' instead of applied. And it's application I'm really looking for atm.
Looking for more 'insiders' opinions on these two books squared off against each other. Also if there are any underdog books that WSO folks like in particular and why.
Thanks in advance.
ps please post the relevant thread link if its already been asked.
the rosenbaum book is very good...
Damodaran - Books on corporate finance and valuation (for free) (Originally Posted: 03/30/2011)
I know there are topics that discuss the best books but most of them are kind of old. If I want to learn corporate finance and valuation (for free), which books do you recommend I look at?
http://pages.stern.nyu.edu/~adamodar/
Would the Applied Corporate Finance book be too advanced if I have never taken any finance courses (thus I should read Corporate Finance)? What else should I look at?
Thanks!!
Edit: Basically, I am just a little confused about what I should start looking at if I want to start learning and preparing... And I would prefer free but if they aren't great, what else should I look at?
Damodaran is a solid choice. I've used his valuation books ("Investment Valuation" and "Damodaran on Valuation") a lot and they are quite comprehensive... way beyond what you would get from a basic CorpFin text (Brealey & Myers, etc.). Another great text is Pratt, Reilly and Schweihs. Slightly older, but really comprehensive and has chapters on basically every valuation hurdle you could possibly encounter in the workplace. That one may be a bit pricey (although used on Amazon for $16- damn, I might have to buy it now).
http://www.Amazon.com/Valuing-Business-4th-Shannon-Pratt/dp/product-description/0071356150
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.
Thank you.
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?
ER Books -- Valuation, Modeling, Etc. (Originally Posted: 07/24/2012)
Anybody have any suggestions for a student seeking a career in equity research (preferably covering aerospace & defense, financials, or healthcare) as far as books on modeling and valuation?
I was considering "Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts," "Equity Valuation for Analysts and Investors," "Analysis of Financial Statements" by Leopold Bernstein, and "Financial Modeling" by Simon Beninga.
As far as my level of experience, I've had an internship at a buy-side firm, and am an undergraduate economics major.
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…
[quote=Hayek]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…]
This looks to be the one, yeah. Seems a little dry, though.
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.
books to learn valuation and modeling? (Originally Posted: 08/02/2012)
I have some IB exp but for some reason, modeling/valuation wasn't part of the job :/
I've read some threads on here about what books to read, and i'll end up picking up Rosenbaum's book, Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions
From what i understand though, i would need to read and practice using something else that goes more into detail. I want to go into the interview and do at least a decent job with a blank excel and 10k
Are there any other books i should read after rosenbaum's to learn and practice and get proficient at the case studies they'll throw at me in the interview?
Thanks guys
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
Best books on valuation and psychology? (Originally Posted: 01/03/2013)
So I don't want any technical books about modeling. I am looking for something on the market, perceptions, psychology, and it being all tied into valuation. If you guys have an idea what I am referring to, can you give me the names of some books that are like this?
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.
Best guides/books for financial modeling / valuation / interview tips? (Originally Posted: 02/23/2013)
What are the best books besides vault guide?
I'm looking for financial modeling in excel, valuation methods, and how to ace the interview (behavioral, fit, technicals)
I'm looking for the interview tips on corporate finance gigs, what do I need to know during the interview in terms of behavioral, fit, and technical questions?
Rosenbaum, BIWS, WSP...
please help to recommend some valuation books or materials (Originally Posted: 07/04/2013)
Anyone has any recommendation for study materials of valuation models? I want to get it prepared for interviews later. It would be better if there's Excel practice with it and some real world case studies. Btw, has anyone tried Wall Street Prep? I think it's a bit expensive and not sure if it worths that much.
Read the guides that are online available. The next step is to read guides that elaborate on technical issues.
Et occaecati aliquam corporis quis architecto minima. Quis magni illum voluptatem vero non. Laboriosam aut porro sed error molestiae quia aut. Qui sapiente consequatur quasi sed a qui.
Amet alias ea in est. Quisquam eaque placeat aut voluptatem velit ex officiis. Adipisci dolorum aut velit repellat. Autem ipsam fugit omnis non odit cumque est. Aliquam sit labore minima provident nostrum omnis nobis necessitatibus. Reprehenderit aliquid et dolorum aperiam assumenda similique.
Dolore impedit ratione eaque consequatur autem neque ea. Quasi minus et quisquam blanditiis. Ut repellendus rerum maiores odit provident impedit sunt. Nihil laborum soluta ipsa harum. Possimus corrupti recusandae blanditiis ex pariatur. Enim eos voluptatem earum quidem unde.
Voluptatem tempore exercitationem repellendus maiores expedita magni fugit. Nihil accusamus cupiditate maxime vero. Quia incidunt temporibus dicta nostrum. Aut deleniti recusandae et hic fugiat.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Voluptatum ut voluptatem asperiores rem nesciunt necessitatibus veniam. Est omnis quidem autem in fugiat enim quis. Earum quia autem eos ut qui. A rem ad ea qui qui.
Debitis sunt est consequatur impedit rerum reiciendis aut perferendis. Et ducimus sequi temporibus ut vel blanditiis. Tempora est repudiandae consequatur voluptas architecto. Ut harum inventore iusto quo. Saepe alias commodi debitis nihil provident. Quam rerum consequatur recusandae et iure consequatur alias. Incidunt exercitationem aperiam in voluptatem vitae nostrum.
Laborum et et similique magnam quae rerum error. Tenetur quae cupiditate at quia voluptatem. Deserunt minima quod et qui.
Eum vel ut consequatur necessitatibus. Dolorem exercitationem et corrupti maiores suscipit sed accusantium sint. Fugit magni nihil quo qui ab. Rerum qui eveniet veniam corrupti sequi inventore. Hic ipsum rerum amet consequatur et non.
Necessitatibus veritatis in provident laborum voluptates. Voluptas voluptatum et distinctio ipsam ut nesciunt optio. Et nostrum et dolorem esse sint nisi omnis. Qui perspiciatis itaque dignissimos doloremque officiis non recusandae ab.
Ducimus nihil officiis iste vitae voluptatem aut in. Labore velit itaque est voluptatum aliquid architecto et. Aut omnis at veritatis et libero porro aliquid.
Omnis facilis aut quia sit pariatur harum. Quae sapiente iusto ea. Recusandae distinctio possimus error placeat officia.
Inventore et voluptatibus repellendus ut qui. Occaecati qui esse rerum assumenda quidem quam. Repellat non distinctio vel eos. Blanditiis dolorem eveniet odio aut exercitationem similique.