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US GAAP vs IFRS in ERThere are a few minor differences that rarely if ever matter, such as differences in consolidation of subsidiaries/JVs. But one difference that can make a major impact on some industries is capitalization of software development costs under IFRS. Ultimately cash flow is the same but it can throw... 1 year 1 week
Rhone GroupRhone is staffed and run by ex-investment bankers and their specialty is complex cross-border M&A. I haven't done due diligence on them but there's no reason to believe they're not a legitimate fund. They have obviously raised and invested institutional money. 2 years 6 months
modeling exam "assume total market leverage...[quote=mooseofplenty]I recently took a modeling exam where I was instructed to assume that senior lender would provide term loan and revolver at "total market leverage and pricing." I translated this to mean current average leverage ratio and rates. I assumed total leverage for revolver + senior... 2 years 6 months
Why Does an Investment Bank Need a Research...[quote=aempirei]Wasn't there a firewall at your bank preventing that Thunder?[/quote] There was a chinese wall as in any bank, but compliance allowed us to have these update meetings as long as they could listen and record them. 2 years 7 months
Why Does an Investment Bank Need a Research...Also when I was in IB we had weekly over-the-wall meetings with research to talk about general industry trends and stuff. There is some synergy there. 2 years 7 months
Why Does an Investment Bank Need a Research...Research generates commissions for the sales/traders. 2 years 7 months
EV/EBITDA Question [quote=HezBalla]P/E ratios are impacted by a company's choice of capital structure - companies which raise money via debt will have lower P/Es (and therefore look cheaper) than companies that raise an equivalent amount of money by issuing shares, even though the two companies might have equivalent... 2 years 7 months
Basic Question about EBITDA MultipleMultiples of EBITDA generally refer to enterprise value. Since EBITDA does not deduct interest expense, you use it to measure the total value of the firm across its entire capital structure. Looking at earnings after interest is more appropriate for minority equity valuation. 2 years 7 months
Office Pet PeevesOne year the admin next to my desk played Kenny G Christmas carols for the entire month of December. 2 years 7 months
Linking DCF to IRR analysisThis is a really common analysis and one of the most basic technical things you will do in PE. Obviously it's critical to have an idea of what your return will be before you make an investment. You might have an assumed purchase price (or a range of prices) and a set of exit values implied by a... 2 years 8 months